December 28, 2018 | Las Vegas Review-Journal | Bailey Schulz
Nevada has among the highest rates of personal income growth in the country in the third quarter of 2018, according to recent data from the U.S. Department of Commerce’s Bureau of Economic Analysis.
The department reported that Nevada’s personal income growth jumped 6.2 percent compared with the previous quarter. Earnings alone grew 6.4 percent, adding more than $1 billion to Nevadans’ incomes.
“This is a real positive sign,” said Jeremy Aguero, principal analyst for Las Vegas-based Applied Analysis. “It reflects the resilience and the resourcefulness of the state of Nevada.”
November 29, 2018 | Las Vegas Review-Journal | Bailey Schulz
Las Vegas may no longer be just the entertainment capital of the world.
Jeremy Aguero, principal analyst for Las Vegas-based Applied Analysis, said the city is well on its way to becoming the sports and entertainment capital of the world, with the introduction of professional sports teams like the Vegas Golden Knights and, eventually, the Raiders.
October 15, 2018 | 13 Action News | KTNV Staff
When it comes to the word education, what comes to mind? Maybe days as a child on the playground.
However, as adults and community members, we know it's much more.
13 Action News is “ Raising The Bar ” and leading a discussion on improving education in Southern Nevada.
Residents in the community without kids should also care about the issue of education, according to the Las Vegas Global Economic Alliance.
October 12, 2018 | Las Vegas Review-Journal | buck Wargo
The high-rise condo market in Las Vegas is on pace to surpass yearly sales again, according to new research.
And the strong high-rise closings have prompted more condo owners to put their units on the market at higher prices than the market has been paying in recent years.
Those are the latest trends to be gleaned from a high-rise condo and luxury home report issued by research firm Applied Analysis.
Through the first three quarters of 2018, Las Vegas posted 659 sales in 21 high-rise developments tracked in the Applied Analysis report, a 7 percent increase over the 615 during the first nine months of 2017.
August 30, 2018 | 8 News Now | Courtney PernaRead More »
August 16, 2018 | Las Vegas Sun | Chris Kudialis, C. Moon Reed
In case there was any doubt, it’s back.
The real estate market in the Las Vegas Valley has seen explosive growth the past two years, creeping toward its pre-recession boom from 2005 to 2007, according to Las Vegas housing experts and real estate agents in the valley.
While the addition of more than 100,000 residents since 2016 and three professional sports teams has certainly had a positive role in helping the market, those in the industry claim our local growth is — as it has almost always been — thanks to Vegas’ booming economy. Its progression, compounded with the typical Las Vegas investment mindset of risk and optimism, helped prop housing values up to 10-year highs in May, said Brian Gordon of Las Vegas economic research firm Applied Analysis.
“We’re seeing pretty healthy levels of sales activity and we’re not seeing as much distressed activity in the resale market,” Gordon said. “The market is now dominated by traditional or equity sellers, with fewer short sales, REO sales and auction sales.”
July 17, 2018 | Las Vegas Review-Journal | Bailey Schulz
If you build it, they will come.
Construction of the first innovation building of the Harry Reid Research and Technology Park at UNLV is officially underway. The university hopes the park will draw more tech-focused businesses to Las Vegas.
The four-story, 115,000-square-foot building is expected to be completed next spring and cost around $30 million. Developers said they are still finalizing when the entire park, which will have up to 12 buildings, will be completed.
July 10, 2018 | Las Vegas Review-Journal | Eli Segall
Applied Analysis hired a former Nevada economic development official to run its new Reno office.
The Las Vegas-based consulting firm announced Tuesday that Cory Hunt, former deputy director of the Governor’s Office of Economic Development and senior policy analyst for Gov. Brian Sandoval, would oversee its Northern Nevada outpost.
June 14, 2018 | Las Vegas Weekly | Brock Radke
The invention of Las Vegas—first as destination, then as a thriving city—happened gradually over decades.
There was no single development that made Vegas. Historians might point to the opening of the Flamingo in 1946 as the spark for the modern Strip, or to the 1989 arrival of the Mirage, the first Vegas megaresort. Those were monumental years for boosting tourism, the lifeblood of Southern Nevada.
Then, the booming ’90s brought serious volume. Three mammoth casino developments that still stand tall today all opened in the final quarter of 1993: Luxor, Treasure Island and MGM Grand. In 1999, the Strip added more than 10,000 hotel rooms thanks to the openings of Mandalay Bay, Venetian and Paris Las Vegas.
June 13, 2018 | Brisbane Times | Caden Helmers
Las Vegas: Finally, the Raiders are set to play in a brand new stadium in the heart of the city.
No, not the Canberra Raiders. The Oakland Raiders, who are set to relocate to Las Vegas for the 2020 NFL season and play out of a brand new, 65,000 seat, $1.84 billion stadium with a retractable roof a short walk away from the strip.
The franchise will become the Las Vegas Raiders and reap the rewards of having a state of the art venue a short walk from the centre of one of the busiest boulevards on the globe.
It is a concept the Canberra Raiders and ACT Brumbies have been dreaming of for years with crowds dropping at Canberra Stadium, which effectively sits in the middle of a ghost town and boasts no game day atmosphere.
The Brumbies are in danger of posting one of their worst season average attendance numbers in the Super Rugby club's history while Canberra's crowd figures have dropped off during the NRL season.
June 5, 2018 | 13 Action News | Nina Porciuncula
Economic growth comes with growing pains.
As Las Vegas continues to thrive the need to develop more land increases. Now Clark County is calling on Congress to free up land beyond the valley. Clark County proposes a 39,000-acre expansion to prepare for population growth and bring more businesses to Southern Nevada.
It wants to tap pockets of public land including some along the 95 and Kyle Canyon Road, and an area on the east side of I-15 between southwest Henderson and Jean.
Tuesday, officials held a public hearing at Clark County Library from Flamingo and Maryland.
May 25, 2018 | Las Vegas Review-Journal | Richard Velotta
While most of the focus on the planned $1.8 billion, 65,000-seat Las Vegas stadium is focused on the construction site at Interstate 15 and Russell Road, the Las Vegas Stadium Authority continues to monitor agreements it has reached with the stadium’s builders, the Oakland Raiders.
Jeremy Aguero, a principal with Las Vegas-based Applied Analysis, has provided staff support for the authority under the direction of its chairman, Steve Hill.
Aguero appeared Friday with Review-Journal business writer Rick Velotta in a new edition of the “Vegas Nation Stadium Show” that provides analysis of the project expected to be completed in the summer of 2020.
May 19, 2018 | Las Vegas Review-Journal | Bailey Schulz
One of the starkest differences California native Lydia High noticed when she moved to Las Vegas 15 years ago was in her hiring pool.
Back in Los Angeles, most candidates could easily check off all the required skill sets for her accounting business. Her biggest concern was finding someone who would fit in with the company’s environment.
“It was very difficult to find qualified employees.”
It still is, she said.
High and many other small-business owners in Nevada have hit a wall finding employees with the right skill sets. A 2018 survey by Nevada State Bank and Applied Analysis found more than two-thirds of businesses find it somewhat or very difficult to recruit qualified candidates. The state’s education system and a lack of economic diversification may be at fault, experts say.
May 17, 2018 | KNPR | Casey Morell
There is no question that California is an attractive place to live: beautiful weather, amazing coastline, glamorous jobs.
But because a lot of people want to live in the Golden State, the price of housing has skyrocketed -- pushing many people out. Those that were pushed out are ending up in Nevada, and in Las Vegas in particular.
A recent report by Applied Analysis found 4.9 people on average move to Las Vegas every hour, according to the Las Vegas Review-Journal; of those people, 34 percent are from California.
May 16, 2018 | KNPR | KNPR News Staff
Report: Nevada Population Boom 3X National Average
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May 16, 2018byKNPR News Staff
The population expansion in Nevada over the last year was nearly three times the national average and Las Vegas has the second fastest-growing population rate in any state.
That’s according to Jeremy Aguero with Applied Analysis, who spoke Tuesday at the Las Vegas Global Economic Alliance’s Perspective event.
Aguero said that 4.9 people on average move to Las Vegas every hour.
May 15, 2018 | 13 Action News | Yasmeen Hassan
LAS VEGAS (KTNV) - Over the next three to five years, the Las Vegas Convention and Visitors Authority is anticipating 15,000 new rooms on Las Vegas Boulevard. The Drew, Resorts World, and the MGM Sphere are already in the works. Before more tourists make their way here, Clark County is already preparing.
"In the very short term, we've got a couple things we've done. One, we implemented an increase in the sales tax for law enforcement which covers also The Strip. The money that's generated on The Strip will be spent on The Strip to add more law enforcement officers on The Strip," Clark County Commission Chair Steve Sisolak said.
May 15, 2018 | Las Vegas Review-Journal | Bailey Schulz
Las Vegas is thriving under a population boom.
Jeremy Aguero, principal analyst at Applied Analysis, said Tuesday 4.9 people on average have moved to Las Vegas every hour over the last year.
Speaking to a crowd of more than 600 at the 38th annual Las Vegas Global Economic Alliance’s Perspective event, Aguero said the population expansion in Nevada over the last year was nearly three times the national average and placed the city at second for fastest-growing population rate in any state.
May 9, 2018 | Las Vegas Review-Journal | Herb Jaffe
The short of it is that the supply of houses for sale in and around Summerlin has been nowhere near meeting the overwhelming demand. As a result, values of homes have been soaring through their roofs.
In a nutshell, property in Summerlin — which, ironically was labeled a desert wasteland as recently as the mid-1950s and which sold then for as little as $2 and $3 an acre — is now among the hottest real estate commodities in the nation. That was what Howard Hughes, the wealthy eccentric of yesteryear, paid the federal government for much of the nearly 25,000 acres we now know as Summerlin.
But according to SalesTraq, the real estate arm of Applied Analysis, the highest median sales prices for homes in the Las Vegas Valley are being recorded in Summerlin. Applied Analysis is a major Nevada economic research and analysis firm.
April 30, 2018 | Las Vegas Sun | Mick Akers
A major boxing match on the first weekend of May has become a tradition in Las Vegas, bringing excitement to Strip’s Cinco de Mayo festivities and helping provide a notable boost to the economy.
But a scheduled bout for May 5 between middleweights Gennady Golovkin and Saul “Canelo” Alvarez was canceled, meaning there won’t be a marquee fight in the boxing capital of the world on arguably the sport’s most important weekend. T-Mobile Arena has no plans to fill the date, according to Scott Ghertner, executive director of public relations for MGM Resorts.
Resorts could feel the effects because fans who booked stays for the fight weekend are likely to cancel their reservations. But because of Cinco de Mayo’s popularity there is some uncertainty to what extent the fight cancelation will affect hotel occupancy and other industry performance metrics, said Jeremy Aguero, lead principal at Applied Analysis.
April 23, 2018 | News 3 LV | Denise Rosch
LAS VEGAS (KSNV) -- Renter Marlin Dart has lived in Southern Nevada since he was 6 years old, and he has seen it all.
Dart knows first-hand that the apartment rental business is red hot, but his Green Valley neighborhood, he believes, is worth it.
"Before they were going up about $50 every lease, but the last one jumped $200 on the last lease," says Dart.
According to Applied Analysis, apartment rental rates are up more than 23-percent in the past six years. The average one-bedroom unit is currently averaging $882, and a two-bedroom apartment is $1,066.
April 20, 2018 | Bloomberg | Brenna Goth
Nevada raised taxes, sold bonds and broke ground on a $1.9 billion stadium to bring the Raiders football team to Las Vegas.
But the state’s race for governor could put a new wrinkle in the record-setting $750 million deal for taxpayer funding to build it. At least one candidate says he’ll do everything he can to renegotiate the agreement if he wins—or withhold money for the roads to get to the games.
Public financing for the 65,000-seat stadium is a divisive issue among leading candidates in the June 12 Republican and Democratic primaries. The state’s treasurer, attorney general, and two county commissioners with opposite positions on the project are among the contenders.
March 26, 2018 | Las Vegas Review-Journal | Eli Segall
With its damaged mailbox, peeling stucco, overgrown yards and obscene graffiti on the front and side windows, this North Las Vegas house could easily scare would-be buyers.
But it sold twice last year, with the flipper booking a solid profit — and since the recession, the home’s value has shot up more than fivefold.
March 23, 2018 | The Spectrum | David DeMille
President Donald Trump’s big talk about a major boost in national infrastructure spending was floated Friday as a potential way the federal government could help Utah pay for the Lake Powell Pipeline.
The Governor’s Executive Water Finance Board, a state-appointed panel studying financial options for major water projects, met in St. George and heard presentations from financial analysts, water managers and others about how Utah might pay for the pipeline. The project is expected to cost between $1.1 billion and $1.8 billion to build, according to a 2015 estimate, the most recent available.
March 13, 2018 | Nevada Business | Press Release Wire
LAS VEGAS – An annual survey of small business owners and managers throughout Nevada reveals record levels of confidence in the economy, with more than 87 percent of those surveyed believing Nevada’s economy is headed in the right direction.
The statewide scientific survey by local firm Applied Analysis was conducted during January on behalf of Nevada State Bank. To ensure it is statistically significant, the bank surveyed more than 400 small business decision-makers, including owners, operators and executives representing businesses with annual sales ranging from $250,000 to $10 million.
February 27, 2018 | Las Vegas Sun | Mick Akers
The Raiders and the Las Vegas Stadium Authority on Thursday are expected to finalize an agreement to construct the proposed $1.9 billion, 65,000-seat domed stadium that will house the NFL franchise beginning in 2020.
All agreements and stadium-related documents are up for possible action and are likely to be approved “in form,” said Jeremy Aguero, principal of Applied Analysis and the lead staff member for the stadium authority.
Barring any unforeseen snags, the agreement will cover the development, lease, personal seat license and the UNLV joint-use agreements, among a bevy of other details.
January 30, 2018 | UNLV | Angela Ramsey
To say that Jeremy Aguero has been in the limelight lately would be an understatement.
“There are tailgates at our public meetings,” says Aguero, who over the past 18 months has been at the epicenter of the UNLV/Raiders stadium deal. As the lead staff for the state’s Las Vegas Stadium Authority, Aguero is working on the negotiations of critical contracts and leasing agreements—details that are not only shaping the stadium project but also the future of Las Vegas.
January 24, 2018 | Las Vegas Review-Journal | Eli Segall
With fewer foreclosures and underwater borrowers in Las Vegas, distressed-home sales fell to the lowest level in years in 2017, according to newly released data.
Foreclosure sales — or homes sold by lenders who had repossessed them — comprised 2 percent of Las Vegas Valley resales last year. That’s down from 4 percent in 2016 and 43 percent in 2011, during the recession, according to figures from Applied Analysis, a local research and consulting firm.
January 12, 2018 | Las Vegas Sun | Thomas Moore
Positive economic news continues through early 2018, furthering a trend from last year’s strong stock market and employment numbers.
Locally, hotels are adding convention space and remodeling rooms, the Fontainebleau and Alon deals generated buzz on the Strip and construction cranes are rising at the Resorts World site.
Southern Nevada recovered from the worst of the Great Recession, outpacing national economic growth in the past couple of years. How long that run can last, though, remains a question for debate among experts.
According to the National Bureau of Economic Research, this recovery, at nine years, is the third-longest in U.S. history. Expansions have lasted on average only a little under five years since 1945.
The Las Vegas Sun asked a number of business experts recently for their opinion of Las Vegas’ economy.
January 12, 2018 | Las Vegas Review-Journal | Eli Segall
Las Vegas home prices are climbing at one of the fastest clips in the country, and sales totals last year reached one of the highest levels ever, despite plunging availability.
But if your house hunt is taking longer than expected, you’re not alone, as sellers are increasingly gun-shy.
The monthly tally of new listings for single-family homes — the bulk of the market — posted year-over-year declines nine times in 2017, according to Greater Las Vegas Association of Realtors data. Overall, 3,800 single-family homes were on the market without offers by year’s end, down 36 percent from the end of 2016.