October 15, 2021 | Fox 5 Vegas | John Huck
LAS VEGAS (FOX5) -- A Las Vegas economist weighed in on current supply chain issues and lingering worker shortages.
Jeremy Aguero is the principal at Applied Analysis. He is an economist whose research informs local businesses, investors, developers, attorneys, trade organizations, legislators and the media.
Aguero explained why we are having supply chain issues.
October 9, 2021 | KTNV | Sean DeLancey
LAS VEGAS (KTNV) — From Friday through Sunday, major sporting events have been slated to dominate Las Vegas for yet another weekend, seeing thousands of fans pour into the city still trying to recover from the pandemic's devastating economic effects.
The weekend began with a disappointing finish for the Las Vegas Aces as they were knocked out of the WNBA semi-finals with a loss to the Phoenix Mercury.
October 6, 2021 | Fox 5 Vegas | Byron Teach, Lauren Martinez
LAS VEGAS (FOX5) -- The numbers are in and the housing market in Las Vegas is showing signs that things are stabilizing despite setting records in growth.
Las Vegas Realtors released a monthly report showing record-setting numbers in September, however the report showed signs that the market was leveling out a bit.
October 5, 2021 | The Record Courier | Kurt Hildebrand
Concerns about the drought and growth have prompted a call for a temporary suspension of building permits until a water study is completed.
Commissioner Walt Nowosad used his own water bill as an illustration to show how the future water needs in Carson Valley could grow.
“We can’t predict when or if the drought will end,” he said during a presentation at the Sept. 16 county commission meeting. “But we can predict how much water is drawn from the aquifer. We can take steps that our water won’t be overdrawn by unfettered growth.”
September 26, 2021 | Las Vegas Review-Journal | Jeremy Aguero
For months, we’ve been feeling the momentum grow. Bolstered by falling COVID-19 cases and rising vaccination rates as the summer arrived, the American public showed that it was more than ready to visit Las Vegas once again to enjoy the unique experiences only our city can offer. On the Strip, visitors crowded sidewalks, packed casino floors and filled seats at marquee events, highlighted by the full opening of our newest community asset, Allegiant Stadium, which has played host to major events nearly every week since it opened on Fourth of July weekend.
Read More »September 17, 2021 | Fox 5 Vegas | John Huck
Las Vegas economist Jeremy Aguero forecasts a thriving housing market despite concerns of a market crash.
Read More »September 17, 2021 | Fox 5 Vegas | John Huck
LAS VEGAS (FOX5) -- A Las Vegas economist forecasts a thriving housing market despite concerns of a market crash.
Jeremy Aguero is the principal analyst at Applied Analysis. He is an economist whose research informs local businesses, investors, developers, attorneys, trade organizations, legislators and the media.
Aguero said mortgage forbearance is gradually ending for homeowners. He is forecasting more housing inventory as people decide to sell rather than pick up payments.
September 17, 2021 | Las Vegas Review-Journal | Buck Wargo
The high-rise market continues on a record-setting pace through the first eight months of 2021 and shows no signs of slowing as Realtors say a lack of luxury homes on the market is pushing more people to luxury condos.
There were 126 sales in high-rises of five stories and higher in August to bring the yearly total to 884, according to Forrest Barbee, corporate broker for Berkshire Hathaway HomeServices. Once September is completed, Las Vegas could pass the all-time record of 970 sales in 2017. There were 155 pending sales at the end of August.
September 15, 2021 | KTNV | Abel Garcia
LAS VEGAS (KTNV) — A surge in the Delta Variant has forced the National Association of Broadcasters to instead have an in-person conference next April out of safety concerns. The NAB made the announcement Wednesday morning.
Jeremy Aguero, the principal analyst at Applied Analysis, says missing out on the more than 90,000 visitors in the Las Vegas area will take a toll on its economy.
September 13, 2021 | KTNV | Todd Quinones
LAS VEGAS (KTNV) — Las Vegas is the Entertainment Capital of the World. But with the addition of Allegiant Stadium, things are changing in Vegas.
GREATEST ARENA ON EARTH
"From pregame, to at the game, to post game, Vegas is the Greatest Arena on Earth," says a new national commercial by the Las Vegas Convention and Visitors Authority.
September 13, 2021 | KTNV | Ross DiMattei
LAS VEGAS (KTNV) — Another Bay Area sports team is exploring a move to Southern Nevada.
Four and a half years ago, the NFL approved the Raiders move from Oakland to Las Vegas. Now, it’s the Athletics who have an interest in moving to the desert.
The Raiders and Allegiant Stadium are proof that with the right vision, timing and funding that Las Vegas can accommodate further professional sports teams.
August 29, 2021 | Las Vegas Review-Journal | Jeremy Aguero
It’s hard not to feel a little bit of déjà vu with today’s Southern Nevada housing market. Prices are leaping higher by the day, with median closing prices setting record highs month after month. New listings are being flooded with offers, with homes selling almost as fast as they get listed. Potential buyers are being left disappointed as they lose the home of their dreams in an increasingly competitive market.
Read More »August 13, 2021 | Las Vegas Review-Journal | Colton Lochhead
Southern Nevada’s economy has been on a major rebound, with stimulus money and pent-up demand for leisure and travel helping fuel a record period of revenue and gaming win along the Strip corridor.
But with skyrocketing housing costs, a job market that has yet to fully recover since the 2020 COVID-19 shutdowns, and federal stimulus funds that will eventually dry up, there are plenty of concerns about Southern Nevada’s long-term outlook.
August 13, 2021 | The Nevada Independent | Zachary Bright
Gov. Steve Sisolak and Blockchains LLC’s ambitious dreams of a self-governing, high-tech “Innovation Zone” fizzled in the 2021 legislative session, and advocates of the concept are still facing skepticism from legislators across the political spectrum.
State lawmakers on a joint special committee studying the zones met Thursday to probe the contentious proposal, which would give county-level authority to a brick-and-mortar community Blockchains hopes to build in Northern Nevada. A broad coalition of progressives, Republicans, tribal leaders and Storey County officials led Sisolak to drop plans for a bill last session, and hesitance lingered in Thursday’s meeting.
August 10, 2021 | Travel Weekly | Paul Szydelko
With fewer visitors and less overall visitor spending in Las Vegas, the total economic output related to tourism fell from $63.6 billion in 2019 to $29.6 billion in 2020.
The report by Las Vegas-based Applied Analysis considered direct, indirect and induced sources. What visitors directly spend on rooms, dining, shopping, local transportation and other activities supports suppliers and vendors (indirect impacts) and employee spending on goods and services in the community (induced impacts).
"The Covid-19 pandemic left an indelible imprint on the southern Nevada tourism industry and the broader regional economy," the report's executive summary begins. "Compared to recent recessions, the Covid-19 recession's magnitude was unprecedented in its depth and speed."
August 8, 2021 | The Nevada Independent | Tabitha Mueller
In Nevada’s housing market, cash is king.
It’s a message that Leona Caldwell, a Las Vegas realtor who works primarily with low-income and working class home buyers, emphasizes whenever she sits down with someone searching for a house.
“Be ready for a hell ride,” she tells clients, explaining that without the need for a loan or mortgage, cash buyers can more quickly complete home sales with fewer steps than other homebuyers, giving them a leg up in the process.
Across the state, an increasing number of cash purchasers — including investors, investment pools, larger corporations and wealthy buyers from out of state — are driving up the pressure and squeezing out would-be purchasers reliant on loans and mortgages.
July 29, 2021 | Las Vegas Review-Journal | Richard N. Velotta, Colton Lochhead
A new report confirms what most of us already knew — that the COVID-19 pandemic decimated Southern Nevada’s tourism economy to the tune of $34 billion.
But the 22-page report commissioned by the Las Vegas Convention and Visitors Authority and authored by Jeremy Aguero, a principal at Las Vegas-based Applied Analysis, quantifies just how much damage was done.
Aguero estimates that the pandemic resulted in a $34 billion drop in total economic input when considering direct, indirect and induced sources — direct visitor spending, suppliers and vendors, and employee spending.
A total of 125,600 jobs are believed to have been lost.
July 28, 2021 | Las Vegas Review-Journal | Eli Segall
Las Vegas’ economy has come a long way since the early chaos of the pandemic, but its jobless rate still hovers over the rest of the country.
An estimated 9.6 percent of the Las Vegas area’s workforce was unemployed last month, the highest percentage in the nation among large metro areas, the U.S. Bureau of Labor Statistics reported Wednesday.
Los Angeles was second at 9.5 percent.
July 28, 2021 | Las Vegas Review-Journal | Jeremy Aguero
One night. Two venues. About 90,000 fans. Inside a packed T-Mobile Arena, a capacity crowd watched Connor McGregor take to the octagon at UFC 264 in pursuit of old glories. Meanwhile, across Interstate 15 inside Allegiant Stadium, 68,000 fans sang with country music legend Garth Brooks as he kicked off his stadium tour after nearly a year of waiting. With their star power and overwhelming box office success, the events showcased a Las Vegas that is bouncing back with a bang.
Read More »July 28, 2021 | KTNV | Ross DiMattei
LAS VEGAS (KTNV) — Southern Nevada's tourism industry took a big hit in 2020 and now we're learning just how big. A new report is revealing the pandemic's impact on visitation to Las Vegas and it's not pretty.
The 22-page report was commissioned by the Las Vegas Convention and Visitors Authority and prepared by Applied Analysis, a Las Vegas-based consulting firm. It reveals what many already suspected, that 2020 was arguably Las Vegas' worst economic year ever, and it's all thanks to COVID-19.
July 15, 2021 | 8NewsNow | David Charns
HENDERSON, Nev. (KLAS) — As hundreds of thousands of Southern Nevadans get back to work, more people are changing careers. One big driving factor is Amazon.
It is not surprising when you think about how much you may have bought online during the pandemic, but Amazon is a major part of the area’s economic recovery. The company hired 10,000 people in 2020, many of whom transitioned from other industries.
July 8, 2021 | Las Vegas Review-Journal | Eli Segall
Fueled by cheap money, Southern Nevada’s housing market has accelerated for months with record-high prices and rapid sales.
And, according to a new report, prices here are increasingly — and significantly — overvalued.
Fitch Ratings estimated in a report Tuesday that Las Vegas-area home prices were 30 percent to 34 percent overvalued in the first quarter, highest among the 50 most-populated metro areas in the nation.
July 8, 2021 | Nevada Newsmakers | Sam Shad
Nevada Newsmakers Thursday, July 8, 2021
Read More »June 27, 2021 | Las Vegas Review-Journal | Jeremy Aguero
“Help Wanted” signs are everywhere you look. From the neighborhood restaurant to the corner store, it’s hard to miss them these days. You also can’t turn on the news or read the paper without seeing another story about business owners talking about having positions to fill but nobody to fill them with.
For many industries, this is the reality as our national economy emerges from more than a year under the pandemic cloud. After months of staying home and away from crowds, consumers are releasing pent-up demand in a surge of activity fueled by a boost in buying power after a year of curtailed spending and several rounds of federal stimulus.
June 27, 2021 | CDC Gaming Reports | Buck Wargo
Even as Las Vegas continues its rebound with the opening of Resorts World Las Vegas, COVID-19 has left “an indelible imprint” on both the Southern Nevada tourism industry and the broader regional economy, according to a report that shows the city is even more vulnerable to a downturn in hospitality and gaming than previously thought.
The report was prepared by Las Vegas research firm Applied Analysis on behalf of the Las Vegas Convention and Visitors Authority. The “implications of COVID-19 were unprecedented in terms of our community’s core tourism industry” and rippled through every sector of the economy in a “pretty dramatic and meaningful way,” according to Applied Analysis Principal Jeremy Aguero.
June 25, 2021 | Fox 5 Vegas | John Huck
Jeremy Aguero from Applied Analysis weighed in on the Las Vegas Strip reopening and the progress slowly being made.
Read More »June 23, 2021 | Accuweather |
Climate and business experts say tough decisions must be made in the next few months, as the Western drought intensifies and water resources dry up.
Read More »June 21, 2021 | Las Vegas Review-Journal | Eli Segall
A spread of land once owned by Siegfried &Roy is now home to a rare sort of real estate project in Southern Nevada: an infill housing tract.
Harmony Homes is doing site work for a 234-unit townhouse development on Rancho Drive just north of Vegas Drive in the central Las Vegas Valley. It expects to begin building model homes this fall and to start sales early next year, according to Colleen Catania, sales and marketing manager at Harmony.
June 16, 2021 | Houston Chronicle | Matt Young
The numbers are back from UFC 262 at Toyota Center last month, and they're impressive.
The event, which featured Charles Oliveira beating Michael Chandler for the lightweight title on May 15, not only sold out in minutes and crammed 17,051 fans into Toyota Center, it also set an arena record with $4.1 million in ticket revenue. According to the Toyota Center, that's the highest-grossing non-Rockets event the arena has ever hosted.
According to a study conducted by research firm Applied Analysis, the event also had a $24.5 million economic impact on the city, including $13.1 million of direct spending into the city by the UFC and from out-of-town visitors who traveled to Houston for the fights. There also were $449,00 in taxes paid by the UFC for the event.
June 13, 2021 | Las Vegas Review-Journal | Eli Segall
When casino giant Genting Group bought an abandoned resort site on Las Vegas Boulevard in 2013 with plans for a lavish project, the deal sparked hopes for the sleepy north end of the Strip.
The area was blighted by abandoned hotel projects and sprawling tracts of land where big visions never materialized. Foot traffic was thin, the area was poorly lit, and overall, it was just quiet, especially compared with casino-packed sections of the boulevard a few miles away.
“It was dead,” developer Lorenzo Doumani recalled.
Eight years later, Genting is scheduled to open its long-planned project, Resorts World Las Vegas, on June 24. The north Strip isn’t in the kind of dire straits it used to be in, but the new hotel could bring more tourists to the area and, if history repeats itself, a surge of visitors overall to Las Vegas who want to see the latest offering in America’s casino capital.
The $4.3 billion project is set to be a flashy property with lots of star power and is the first newly built megaresort to debut on the Strip in more than a decade — all at a time when Las Vegas’ tourism industry, the backbone of the local economy, is starting to find its footing after getting crushed by the coronavirus pandemic.
“We are trending in the right direction, but we are far from recovered,” said Jeremy Aguero, a principal with Las Vegas consulting firm Applied Analysis.
June 10, 2021 | Fox 5 Vegas | John Huck
LAS VEGAS (FOX5) -- The water level at Lake Mead is drawing a lot of attention from economists, as economic stability out West faces uncertainty.
Jeremy Aguero is the principal analyst with Applied Analysis. He performs economic forecasts that are used widely by Las Vegas, Henderson, Station Casinos, Boyd Gaming and the UFC.
May 30, 2021 | Las Vegas Review-Journal | Jeremy Aguero
Everywhere I turn, I see a world that looks more and more like one we left behind 14 months ago. Cars are bumper to bumper on Las Vegas Boulevard. Pedestrians are crowding sidewalks along the Las Vegas Strip. World-class artists are returning to the stage. Fans are cheering the Golden Knights to the playoffs in T-Mobile Arena. Business capacities are rising and mask requirements are easing. The worst is behind us and a return to normal is on the horizon.
Read More »May 25, 2021 | KTNV | Joe Bartels
LAS VEGAS (KTNV) — Las Vegas is the entertainment capital of the world and is getting back to its usual form as one of the biggest events, the Wrangler National Finals Rodeo will return after a pandemic pause.
A two-day promotional event kicked off Tuesday in true Las Vegas fashion with a welcome back ceremony under the iconic Fremont Street Canopy in downtown Las Vegas.
May 1, 2021 | CBS News | Anna Werner
Read More »May 1, 2021 | Associated Press | Ken Ritter
LAS VEGAS (AP) — To Mike Anger in Midland, Michigan, a $100 round-trip airline flight and $260 for five nights at a Las Vegas hotel made it too easy to say yes.
“How could I turn that down?” the 39-year-old electrician asked, holding a tall vodka drink, basking in 90-degree temperatures, and soaking in the sights of street entertainers and tourists on Friday in a downtown casino pedestrian mall.
May 1, 2021 | Associated Press | Ken Ritter
LAS VEGAS (AP) — To Mike Anger in Midland, Michigan, a $100 round-trip airline flight and $260 for five nights at a Las Vegas hotel made it too easy to say yes.
“How could I turn that down?” the 39-year-old electrician asked, holding a tall vodka drink, basking in 90-degree temperatures, and soaking in the sights of street entertainers and tourists on Friday in a downtown casino pedestrian mall.
“I’m having a blast,” said his friend, cosmetologist Jade Topor. “Pretty much what I expected.”
Las Vegas has been almost elbow-to-elbow lately with pandemic-weary tourists looking for excitement and entertainment, after casinos rose from 35% to 50% occupancy March 15 under state health guidelines.
Capacity limits in Las Vegas casinos drop again Saturday — allowing 80% occupancy — while person-to-person distancing goes from 6 feet (1.8 meters) to 3 feet (0.9 meters). Masks are still required.
April 30, 2021 | KTNV | Ross DiMattei
LAS VEGAS (KTNV) — In just the past five years, Las Vegas has emerged as a real sports city. The city has embraced not one, but three professional sports teams.
The professional sports experiment in Las Vegas has been a big success so far.
The Golden Knights remain one of the hottest tickets in town, and soon the Raiders will follow suit. Not to mention the Las Vegas Aces, who are on the verge of a WNBA championship.
April 26, 2021 | KTNV | Joe Bartels
LAS VEGAS (KTNV) — Las Vegas continues to see a resurgence of visitors and a hiring spree for workers to keep up with demand but experts and employers believe there are several forces keeping people away from open jobs including fears of COVID-19 and enhanced unemployment benefits.
On Monday, Allegiant Stadium began the process of hiring more than 2,000 employees in preparation for summer and fall filled with football and other events.
April 26, 2021 | KTNV | Jeremy Chen
LAS VEGAS (KTNV) — The U.S. Census Bureau has released the first data from the recently completed 2020 census. It revealed new state population counts affecting the Electoral College and congressional apportionment.
Nevada will not lose or gain any congressional seats, according to the Census Bureau.
The U.S. population is 331,449,281, which is an increase of 7.6% from 2010. Nevada's population is 3,108,462, up by 15% from 2010.
April 25, 2021 | Las Vegas Review-Journal | Jeremy Aguero
I need a vacation.
I want to plant myself on a white sand beach and watch the sun set slowly over the Pacific Ocean.
I want to sit right behind the first base dugout when the Padres beat the Dodgers at Petco Park.
I want to shut down Disneyland after setting a personal best for the number of times my family rode Space Mountain.
I want to show my daughter the Eiffel Tower lit up at night.
April 9, 2021 | Nevada State Bank | Terry Shirey
Read More »April 8, 2021 | KTNV | Astrid Mendez
LAS VEGAS (KTNV) — Las Vegas job market is showing signs of bouncing back after more than a year of hardship. Certainly, there are more job openings and more people visiting our town, but for a full recovery, more time is needed, maybe even until next year.
Jeremy Aguero, Applied Analysis principal analyst, expressed that “The target for the end of the year is really getting the unemployment rate down below 6%, that’s really where we want to be and that may be a little bit ambitious, but I think is very possible. In terms of a full recovery, I think that’s going to take a little bit longer, I think we're talking about 12 to 18 months.”
March 30, 2021 | Las Vegas Review-Journal | Eli Segall
Home prices rose in nearly every ZIP code in the Las Vegas Valley last year as cheap borrowing costs fueled a market boom, bucking the otherwise dreary economy.
The biggest price jump last year, 20 percent, was in the 89146 ZIP code around Sahara Avenue and Jones Boulevard, among the 10 ZIP codes with double-digit price gains from 2019 to 2020, according to a new report from SalesTraq, the residential research arm of Las Vegas consulting firm Applied Analysis.
Prices fell in only two of the 56 ZIP codes listed in the report, which, using Clark County property records, tracked the changes in the median sales price of previously owned homes.
March 28, 2021 | Las Vegas Review-Journal | Jeremy Aguero
When I was a kid, the notion of communicating with someone anywhere in the world through a computer seemed like a pretty cool idea. But after conducting so much of my business via a computer screen over the past year, I can say that the futuristic virtual communication utopias of old Hollywood movies aren’t all they’re cracked up to be.
For many of us, the past year has been a crash course in Zoom, Microsoft Teams, WebEx and countless other virtual meeting platforms. The pandemic made these a necessity, and they were critical for maintaining communication and business activity at a time when in-person meetings were off the table. But as comfortable as we may have become with virtual meeting tools, they just can’t replicate the face-to-face meetings they replaced. Sitting in the same room with someone makes communication more effective, builds trust and just helps us connect on a human level.
March 18, 2021 | The Wall Street Journal | Katherine Sayre, Kim Mackrael
LAS VEGAS—Inside a strip mall here, blackjack students practiced flipping cards onto tables empty of gamblers. Nearby, a few people leaned over a craps table, the thrill of the game replaced by quiet study as the dice rolled.
At CEG Dealer School, an academy for would-be casino dealers, the pipeline of workers aiming to join Las Vegas’s battered tourism economy is robust, even though the city has the highest unemployment rate of any major metro area in the U.S....
March 17, 2021 | KTNV | Joe Bartels
LAS VEGAS (KTNV) — The day Las Vegas came to a standstill, Mar. 17, 2020, is still burned into the minds of many. Exactly one year later, several conventions and trade shows have announced dates of return to Las Vegas and Gov. Steve Sisolak addressed Nevada with a new timeline for when the general public can expect access to the COVID-19 vaccines.
It was the day the famous Las Vegas Strip went dark.
Iconic places usually filled with activity and tourists were closed and some hotels were even boarded up.
March 15, 2021 | KTNV | Joe Bartels
LAS VEGAS (KTNV) — The Las Vegas Strip saw increasing crowds over the weekend and more are expected as spring break ramps up combined with St. Patrick's Day, March Madness and relaxing restrictions on capacity limits and gathering sizes and health experts urge caution.
Spring will soon bloom in Las Vegas and temperatures will warm, attracting people from all over the country.
March 12, 2021 | Fox 5 Vegas | John Huck
In this FOX5 Experts segment, Jeremy Aguero of Applied Analytics talks coroanvirus relief and pandemic recovery.
Read More »March 12, 2021 | Fox 5 Vegas | John Huck
Jeremy Aguero of Applied Analytics discusses coronavirus relief and a possible comeback for Las Vegas industries.
Read More »March 12, 2021 | Fox 5 Vegas | John Huck
LAS VEGAS (FOX5) -- The recently-passed COVID-19 relief bill is projected to give Las Vegas a much-needed economic boost, according to economic analysts.
Jeremy Aguero, principal analyst with Applied Analysis in Las Vegas estimates approximately $10 to $15 million will flow into the community. His prediction looks beyond stimulus checks and extended unemployment.
March 9, 2021 | Las Vegas Review-Journal | Bailey Schulz
Every two years, the Nevada Resort Association releases a report chronicling the local tourism and hospitality industries’ economic activity. This year’s report was bleak.
The 2021 Nevada Gaming Fact Book, published Tuesday, highlights the lost jobs, business closures and lack of business and leisure travel the state faced last year.
“2020 was an unimaginable year for Nevadans when the state’s primary industry came to a standstill,” Ellen Whittemore, chair of the Nevada Resort Association’s Board of Directors and executive vice president and general counsel for Wynn Resorts Ltd., said in a Tuesday news release. “No state was hit harder by the economic ramifications of the pandemic than Nevada.”
Despite the hardships, heads of the resort association remain optimistic about the days ahead.
February 28, 2021 | Las Vegas Review-Journal | Jeremy Aguero
How low can they go? That’s been the question about interest rates for much of the past year as rates reached all-time lows and then went lower still. As a result, the cost of borrowing to buy homes, cars or business equipment is as affordable as ever. This has been a boon for many households and businesses, which have taken advantage of low rates to improve their financial position even as the pandemic has wreaked havoc on the global economy.
These two conditions – low interest rates and a struggling economy – are inextricably linked. The Fed uses its benchmark rate as a critical lever for regulating the national economy and balancing maximum employment with stable prices. During economic slowdowns, the Fed lowers its rate to encourage borrowing by consumers and businesses. Conversely, when the economy is overheating, the Fed will increase its rate to slow the flow of capital and keep inflation in check.
February 26, 2021 | Las Vegas Sun | Sam Metz
CARSON CITY — Nevada's governor on Friday unveiled a proposal that would allow technology companies to establish jurisdictions with powers similar to those of county governments, arguing the state needed to be bold to diversify its economy and pushing back against those who have likened the idea to company towns.
“This proposal is an exciting, unprecedented concept that has a potential to position Nevada as a global center of advanced technology and innovation, while helping to create immediate positive economic impact and shape the economy of the future,” Gov. Steve Sisolak said of his Innovation Zones idea. “As we’ve learned in the past, an emergency requires us to throw out the tried-and-true, discard the ‘How We’ve Always Done It’ manual and move on.”
Under the proposal, companies developing cutting-edge technologies that have at least 50,000 acres (200 sq. kilometers) of land and promise to invest $1.25 billion could establish “Innovation Zones." The zones would be governed by a board responsible for overseeing zoning, taxation, law enforcement and other government functions on their land. It would override local county regulations.
February 26, 2021 | The Nevada Independent | Michelle Rindels
Gov. Steve Sisolak urged critics not to write off a proposal pushed by Blockchains LLC to create an autonomous “Innovation Zone” in a large undeveloped tract of Nevada, saying the hard-hit state needs to embrace a unique and bold idea instead of waiting on economic recovery.
Sisolak hosted a virtual roundtable discussion on Friday to offer more details on the Innovation Zones, which are backed by Nevada-based Blockchains LLC and were listed as a cornerstone of the governor’s plans for Nevada’s economic rebound. The company envisions developing a 36,000-person Painted Rock Smart City that is run on a Stablecoin cryptocurrency and supports the company’s efforts toward wider adoption of blockchain technology.
February 6, 2021 | Las Vegas Review-Journal | Bailey Schulz
Las Vegas’ skyline has never been stable.
In the ’90s and 2000s, the desert oasis-themed properties built during the city’s mob era were demolished to make room for bigger, more lavish properties. Wynn Las Vegas replaced the Desert Inn, the Bellagio was built on the ashes of the Dunes, and The Venetian now offers gondola rides where the Sands once stood.
Demolition has been one of Las Vegas’ go-to methods for a refresh, but certain aspects of Las Vegas’ skyline today will be here to stay, thanks to a condominium trend that started in the 2000s. Real estate experts say the individually owned units inside the properties will make them difficult to tear down.
“Las Vegas does have a history of reinventing itself over the years. The market has seen a number of properties being torn down in an effort to replace it with something bigger, better and more innovative,” Applied Analysis partner Brian Gordon said. “For those locations that have these individually owned condominium units, that development alternative becomes much more challenging.”
February 5, 2021 | KTNV | Joe Bartels
LAS VEGAS (KTNV) — The biggest NFL game of the year usually translates to a super busy and profitable weekend for Las Vegas but the pandemic will put a damper on the party, leading to a staggering loss in revenue.
In a typical year, the Super Bowl would bring in 300,000 visitors and boost the local economy by as much as $500 million dollars.
January 24, 2021 | Las Vegas Review-Journal | Jeremy Aguero
If your only window into the economy was the stock market, you might not know that the world was in the middle of a pandemic. The three major U.S. stock indexes – the Dow Jones industrial average, the S&P 500 and the NASDAQ – are all at record levels, continuing the upward trend that started months ago as COVID-19 gripped the world and unemployment levels climbed to unprecedented levels.
Read More »January 1, 2021 | Nevada Business | Jennifer Rachel Baumer
February 2020: Nevada’s economy was at a peak. Unemployment stood at 3.6 percent. The state led the nation in new job creation.
March 2020: Governor Sisolak ordered all nonessential businesses to close and Nevada entered the worst recession since 2008. In two months, 280,000 Nevadans lost jobs.
The COVID-19 recession was a faster, larger drop than the Great Recession, said Stephen Miller, director, Center for Business and Economic Research (CBER) at UNLV. Recovery started much faster because it’s not a typical recession, but one caused by the pandemic and, ultimately, the stay-at-home orders.