Archive for November 12th, 2010

Las Vegas is Open for Business

Friday, November 12th, 2010

The reports of the demise of Las Vegas, Nevada are premature to say the least and no one ever got rich betting against this town. Although you hear so much “sky is falling” chatter from the national media, the truth is the local facts on the ground are not quite so dire. Are we going through a tough time? Sure, but it’s temporary and this town has too many strengths and unique characteristics to stay behind the eight ball for long. Case in point; the non-profit and nonpartisan (is there such a thing?) Tax Foundation of Washington D.C. has recently released their 2010 rankings for the states with the most “business friendly” tax policies. How did we do? Right behind freezing cold South Dakota, Alaska and Wyoming comes the Silver State (Nevada) as the fourth friendliest tax environment for businesses to operate and grow in.

In case you are wondering how much practical affect this “tax climate” ranking has for how businesses actually make location decisions, consider these two recent examples. California-based Amonix, which is a company that makes solar-power systems, just broke ground a few weeks ago on a new production facility in North Las Vegas. The plant will manufacture photovoltaic systems and run 24/7 and create 278 new Southern Nevada jobs at completion. Another example is U.S. Micro Corporation (a leader in IT asset disposition and data security)  which announced on October 28th that the company will relocate its corporate headquarters from Atlanta to Las Vegas. The new headquarters is designed to meet LEED Gold Certification Environmental Standards and will bring 100 new jobs to Southern Nevada. Jim Kegley, president of U.S. Micro Corporation stated that …

“We chose to relocate to Las Vegas because of the area’s competitive business climate, talented labor pool, state-of-the-art technology and transportation infrastructure, and the city’s proximity to some of the world’s largest information technology markets.”

Las Vegas, Nevada is very much open for business and the reports of our demise are seriously premature. Despite the severity of the current recession, I wouldn’t bet against this town.