Nevada's Construction Industry: Busier than Ever!

With residential real estate in Las Vegas finally taking a breather after years of hyper-growth, attention is now turning to the ongoing boom in commercial construction. How significant is the continued growth? In 2007, construction activity statewide will add up to roughly $9 billion in spending (according to McGraw-Hill). Construction is the state’s second largest employer and constitutes about 11% of the total workforce. The construction industry contributes $5.1 billion annually in salary and hourly wages and generates a whopping $14.7 billion in overall economic activity. Current and scheduled projects run the gamut from hotel/casino construction to public infrastructure improvements to office park development. On the Las Vegas Strip alone, the backlog is an amazing 35.5 billion dollars in construction projects slated for completion between now and 2011. This includes over 42,000 additional hotel rooms and 3.5 million square feet of additional convention space. Make no mistake about it, the business of Las Vegas is business, and no city in the world can compete with our ability to accommodate guests and stage world-class business/conference functions of every size. From Project CityCenter to World Market Center and everything in between, Las Vegas continues to amaze and inspire as the leading metropolis of the 21st century.

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