Our Reports

Sometimes having the data you need is only half of the story.

Below are some examples of the types of reports we prepare for our clients. Although these reports are relatively diverse, spanning industries from healthcare to water resources to commercial banking, they share a common thread. That thread is the ability to reduce complex research and analysis into digestible, actionable reporting documents. We understand that the technical analytics underlying a research project mean little if you cannot effectively communicate the results to internal and external stakeholders. We take great pride in our ability to present our findings in a way that maximizes the utility of our research and reflects positively on our clients and their core constituencies.

Cover, Nevada State Bank Economic Briefing

August 2017

Economic Briefing

Millions of students across the United States are heading to college campuses this month to start or continue their higher education. The majority of those students are learning, training and preparing to take the next steps in their lives and enter the workforce. For the students who complete their degrees, their academic achievements will give them an advantage in the job search over candidates who haven’t finished college, and they will earn bigger paychecks and enjoy more job stability throughout their lives.

These advantages highlight the importance of a post-secondary education, which is more vital today than ever as the national labor market demands more skills and knowledge from its workers. College enrollment is rising as a result. The number of students enrolled in college n ...

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Cover, Nevada State Bank A Positive Outlook

July 2017

A Positive Outlook

As a new academic year begins, a renowned college at the University of Nevada, Las Vegas is set to celebrate its 50th year. For half a century, the William F. Harrah College of Hotel Administration has served as a living laboratory for its students, producing thousands of educated workers for the hotel and hospitality industries while setting itself apart as one of the best in the world. The college was founded in 1967 to help supply an educated workforce for the fast-growing Strip.

Through the years, it has lived up to that purpose to educate generations of students, many of whom are now the industry leaders who are shaping the world-class experience that attracted 42.9 million visitors to Las Vegas last year. Those visitors are critical to the southern Nevada economy, directly providi ...

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Cover, Nevada State Bank Elko Quarterly Briefing

June 2017

Elko Quarterly Briefing

Economic Update

While Elko County’s long-term trend of declining employment has continued, the decline has slowed recently. As of April 2017, the trailing 12-month average was only 13 jobs below where it was for the same period last year. Despite the stagnating levels of overall employment, Elko County’s unemployment rate has steadily declined, registering 3.5 percent in April. This ranked as the second-best mark in the state behind only Eureka County’s 3.0 percent and fell well below the state average of 4.7 percent. These contradictory numbers are partially explained by Elko County’s slowly shrinking labor force, which is likely a result of an aging population and migration to other areas of the state.

Statewide initial unemployment insurance claims have continued to decli ...

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Cover, Nevada State Bank High Net Worth

June 2017

High Net Worth

During the 2015 Nevada legislative session, Governor Brian Sandoval set out to enact a broad platform of educational reforms and funding priorities designed to improve student performance throughout Nevada. Nearly two dozen education-focused bills passed through the Legislature with broad bipartisan support, establishing a foundation for educational opportunity and success for current and future generations of Nevadans. In the 2017 session, the scope of education-related legislation was not as extensive as 2015, yet the collection of bills and budget funding passed by Governor Sandoval and legislators builds upon the foundation that was established two years ago. Below is a summary of key issues that were considered and laws that were passed during the 2017 legislative session.

Educatio ...

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Cover, City of Las Vegas Residential Foreclosure Analysis

July 2016

Residential Foreclosure Analysis

  • Foreclosure starts in the City of Las Vegas (the “City”) increased 10.9 percent month-to-month in May 2016, rising from 174 to 193. Compared to a year ago, foreclosure starts decreased 9.8 percent, falling from 214. In the past 12 months, there have been 2,391 notices of default reported in the City, down 19.6 percent from the 2,973 reported in the prior 12-month period.

  • Trustee deeds (foreclosures) in the City increased 4.5 percent month-to-month in May 2016, rising from 89 to 93. Compared to the prior year, foreclosures have decreased 11.4 percent, falling from 105. In the past 12 months, there have been 1,263 foreclosures reported in the City, a decrease of 8.1 percent compared to the prior 12-month period.

  • In May, Ward 2 reported the greatest month-to- ...

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Cover, Nevada Department of Business and Industry Nevada Housing Stability Index

March 2015

Nevada Housing Stability Index

Current Assessment
Nevada’s housing market was a little less stable in the first quarter of 2015, as the Nevada Housing Stability Index (“NHSI”) dropped slightly to a “C” grade. Overall the composite index fell modestly to 2.26, but the NHSI remained slightly higher than the 2.17 index reported one year ago. Median home prices statewide slipped slightly from the fourth quarter, with the median price falling 1.2 percent statewide, 3.6 percent in Clark County, and 2.6 percent in Washoe. Notably, the drop in prices directly impacted two index components, and potentially lured further investor purchases in the area. Despite some modest period-to-period adjustments in most recent quarter, conditions overall appear more stable than at any point since the past economic downturn.

Pos ...

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Cover, Nevada Mining Association Nevada Mining Industry Brief

June 2014

Nevada Mining Industry Brief

Applied Analysis was retained by the Nevada Mining Association (the “NVMA”) to review and analyze the economic impacts associated with mining operations in Nevada as well as the mining industry more generally. This brief summarizes the fiscal impacts of the Nevada mining industry. In 2012, mining companies in the state paid $431.4 million in major taxes, which accounted for 8.2 percent of the taxes generated for the Nevada State General Fund.

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Cover, Nevada Secretary of State Quarterly Economic & Business Activity Report

June 2014

Quarterly Economic & Business Activity Report

New Entity Filings [Leading Indicator]

  • New entity filings edged up slightly in the second quarter of 2014 when compared to the prior period (Q1 2014), rising from 15,233 to 15,313. However, compared to a year ago (Q2 2013), new filings were up a more robust 5.1 percent. Corporations and Limited Liability Companies (“LLCs”), which account for the largest share of new entity filings, reported quarter-to-quarter gains of less than one percent during the period. Compared to a year ago, Corporations and LLCs were up 0.5 percent and 7.7 percent, respectively.

  • Domestic (Nevada) filings also remained relatively flat during the second quarter, rising from 14,257 to 14,313. Compared to a year ago, domestic filings increased 5.1 percent, primarily due to a 7.7-pe ...

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Cover, Applied Analysis Commercial Market Monitor

September 2013

Commercial Market Monitor

The southern Nevada economy continued its tepid pace of recovery in the second quarter, while some headwinds persist. A number of indicators reported modest gains or slight contraction in the second quarter of 2013. In June, employment in the Las Vegas MSA increased by 17,800 jobs (+2.2 percent) annually, while the unemployment rate fell 1.7 percentage points from a year ago to 10.1 percent. However, average weekly hours worked continued to decline, falling 0.2 hours (-0.6 percent) to 33.9. In addition, Las Vegas visitor volume for the second quarter of 2013 was relatively flat compared to a year ago, while Clark County gross gaming revenues continue to struggle to report any material gains, falling 1.6 percent year-over-year during the period. While some stabilization has been reported in ...

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Cover, Applied Analysis Applied Analysis Gaming Index

September 2013

Applied Analysis Gaming Index

After reporting two consecutive months of declines, gaming stocks witnessed positive growth in August of 2013. All of the companies included in the Applied Analysis Gaming Index (AAGI) witnessed increases in average daily stock price when compared to July 2013 and August 2012. The broader market also reported similar trends in the latest period. During August 2013, the AAGI reported a composite score of 497.83, up 5.0 percent from the prior month and 26.1 percent from a year ago. Caesars Entertainment (CZR) witnessed the most substantial month-to-month gain in average daily stock price, rising 18.8 percent to $18.32. In addition, Bally Technologies (BYI) was up 12.2 percent, while MGM Resorts International (MGM) increased 10.4 percent. WMS Industries (WMS) reported relatively flat stock pe ...

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Cover, Applied Analysis Public Finance Report

February 2013

Public Finance Report

On January 16, Governor Sandoval delivered his budget, bidding good riddance to the bottom of the Great Recession. However, while most signs going forward are positive, projections of state revenue by the Economic Forum are still $400 million less than in the 2006-2007 biennium unless temporary taxes scheduled to sunset in FY 2014 are continued. Therefore, the state is again faced with extending temporary tax increases to fund a budget that funds most public services at lower levels than in 2007.

Containment of aggregate spending might indicate government as a whole is being “right sized”, made more efficient. That said, while total outlays have been curtailed, there is one program whose growth has continued virtually unabated since its establishment decades ago. Our ongoing inclina ...

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Cover, Applied Analysis Clark County Voter Profile

March 2012

Clark County Voter Profile

The Clark County Elections Department registered 9,459 new voters during the last three months of 2011, representing a 3.1-percent increase from the third quarter. New voter registration has increased for three consecutive quarters and is expected to continue trending upward through the general election in November. Nevertheless, the registration of new voters is not projected to reach levels witnessed during the last election cycle, when presidential primaries were hotly contested in both major political parties and population growth was still surging in southern Nevada. For comparison purposes, during the fourth quarter of 2007, new voter registration totaled 17,385 in Clark County, nearly double what was witnessed this last quarter.

The fourth quarter experienced some dramatic shifts ...

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Cover, Applied Analysis Resort Industry Observer

March 2012

Resort Industry Observer

With the close of 2011, it appears economic conditions in the resort industry are slowly starting to turn around. Each of the major operators in Las Vegas reported increases in net revenues and adjusted EBITDA for the fourth quarter of 2011. In addition, average daily room rate (ADR) increased across all companies, driving improvements in revenue per available room (RevPAR). Most operators attributed their improved performance to strong convention and group bookings. According to the Las Vegas Convention and Visitors Authority, Las Vegas welcomed 3.0 million visitors in December for a 2011 total of 38.9 million, up 4.3 percent over last year. Market-wide ADR increased a significant 10.6 percent in December to $101.58, while the average occupancy rate was up a more modest 0.7 points to 73.1 ...

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Cover, Applied Analysis Social Services Indicators Briefing

February 2012

Social Services Indicators Briefing

Numerous programs are available in southern Nevada to offer assistance to families in need during tough times; however, assistance is typically designed to provide temporary relief. Help in the form of both monetary and non-monetary support may run out before needy families are able to get back on their feet. This is especially the case during periods of economic downturn, when families may face hardship for years at a time. Although the United States has made significant progress in recovering most recently from the "Great Recession" over two years ago, many families continue to struggle in the wake of this recession, resulting in mixed trends among the social service indicators.

Despite a national unemployment rate that has hovered around 9 percent since April, the unemployment rate i ...

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Cover, Applied Analysis National Industry Rankings

January 2012

National Industry Rankings

The nation continues to slowly recover from the latest economic downturn. While many economic indicators continue to report mixed trends, employment made some encouraging progress in 2011. In December alone, national employment increased by 200,000 jobs month-over-month, while employment for the year increased by 1.6 million jobs. The transportation and warehousing industry reported the largest gain in employment during the month, with an increase of 50,000 jobs, though many of these were seasonal in nature (e.g., couriers and messengers). Gains were also reported in retail trade (+28,000), leisure and hospitality (+24,000), manufacturing (+23,000), health care (+23,000) and mining (+7,000). Meanwhile, average weekly hours for all employees increased 0.1 hour to 34.4 hours, while average h ...

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Cover, Applied Analysis National Economic Indicators Monitoring Series

January 2012

National Economic Indicators Monitoring Series

The final months of 2011 were largely met with optimism as spending through the holiday season grew, investors loosened their wallets, and employers began to show signs of hiring in the coming year. While large macroeconomic concerns such as the long-term unemployed, housing prices and financial woes abroad still lurk in the shadows, the fourth quarter looked much different than the prior ones, a welcome change after several years of being fed only pint-sized bites of positive news.

In the fourth quarter of 2011, gross domestic product (GDP) expanded at an annual rate of 3.0 percent, according to the second advanced estimate by the Bureau of Economic Analysis. Although the economy generally requires a sustainable annual growth rate above 3.5 percent to carry the country out of a recessi ...

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