National Geothermal Institute Established at UNR The United States Department of Energy (DOE) has awarded the University of Nevada, Reno a $1.2 million grant to develop and operate the National Geothermal Institute, a consortium of top geothermal schools. The institute is designed to transform and grow the national energy infrastructure to utilize America’s geothermal … [Read more...] about June 2010: Around the State
NAIOP Works: Providing Resources and Connections in Any Economy
Dear members and readers; NAIOP Southern Nevada, a chapter of NAIOP, the Commercial Real Estate Development Association, represents the interests of commercial real estate professionals throughout Southern Nevada including the Las Vegas valley. Among the most active professional organizations in Nevada, the local chapter of NAIOP is committed to the success and growth of … [Read more...] about NAIOP Works: Providing Resources and Connections in Any Economy
Gregory K. Pike, CIC: McFadden Insurance Agency, Inc.
Vice President Las Vegas Number of Employees: 31 Years in Nevada: 20 Years with Company: 17 What inspired you to get into your industry? Like most people, I never really planned to be in the insurance business, but have found it to be a natural fit due to my communication, analysis and problem solving skills. How do you encourage growth and development within … [Read more...] about Gregory K. Pike, CIC: McFadden Insurance Agency, Inc.
Fix the Approach, Fix the Problem: State’s fiscal woes result from broken process
Public discourse in the Silver State is dominated by how state lawmakers will address a multi-billion dollar “budget shortfall” heading into the 2011 legislative session. The potential size of the projected “shortfall” could prompt calls for tax increases that would dwarf the record-breaking tax-hike package that was passed just last year, in the 2009 session. What lawmakers … [Read more...] about Fix the Approach, Fix the Problem: State’s fiscal woes result from broken process
Time to Buy? Commercial Retail Market in Nevada
Like the tail wagging the dog, Southern Nevada’s commercial retail properties market has followed the industrial and office markets into the doldrums of recession. “The Las Vegas retail market has been impacted tremendously,” says David Grant, senior vice president retail division for Colliers International in Las Vegas. As first quarter 2010 statistics continue to paint a … [Read more...] about Time to Buy? Commercial Retail Market in Nevada
Office Summary: First Quarter 2010
Las Vegas The Las Vegas Valley office market continued to deteriorate with rising vacancies and diminishing rents. Net absorption, or the change in the amount of occupied space between periods, remained negative for the sixth consecutive quarter. The market reported total first quarter negative net absorption of 81,200 square feet. The office market expanded by 84,800 … [Read more...] about Office Summary: First Quarter 2010
June 2010: Business Indicators
The US economy continued to recover from one of the deepest recessions in US history. US gross domestic product (GDP) has advanced for the last three quarters, with growth averaging 3.7 percent over that period. Personal consumption expenditures, accounting for almost 70 percent of GDP, have rebounded, posting an average gain of 2.7 percent in the last three quarters. Still, … [Read more...] about June 2010: Business Indicators
What is your favorite thing about living in Nevada?
“The freedom and entrepreneurial spirit to create and build dreams. We are a city that embraces change, nurtures growth and promotes innovation.” Virginia Martino • Founder/CEO, Brand, Ltd. “The most surprising and favorite thing I have found about living in Nevada is the numerous hiking and outdoor activities. My family and I hike 2-3 times a week, and have yet to take … [Read more...] about What is your favorite thing about living in Nevada?
Clean Water, Dirty Politics: Another Legislative Money Grab
When the Nevada Legislature met in special session in February to plug the $800 million hole in the state’s budget, lawmakers were desperate to “find” enough money to fund state programs. Unfortunately, the Legislature’s creative accounting solutions included a blatant misappropriation of $62 million that wasn’t theirs. This was money that had been collected by the Clean … [Read more...] about Clean Water, Dirty Politics: Another Legislative Money Grab
Education: Progress Report
When Education Week published its Chance-for-Success Index in early 2010, Nevada, again, drew negative attention for its low scores—adding to a pile of bad news that has many Nevada educators, legislators, businesses and economic development experts seriously questioning the state’s future. By the Numbers Within the index, which tracks key education indicators and grades … [Read more...] about Education: Progress Report
Vision, Dreams & Reality: Nevada’s Most Influential Citizens
Nevadans can be born and raised in the state, or can come from half the world away to find their home. Once here, Nevada becomes a part of most people’s lives in short order, and many want to give back. Nevada Business Magazine asked readers to nominate those Nevadans who have had a significant impact on our state. The 12 individuals chosen are leaders in their fields who … [Read more...] about Vision, Dreams & Reality: Nevada’s Most Influential Citizens
Industry Focus: Elected Officials
With so much focus being placed on government spending, partisanship, budgets and taxes, elected officials find themselves even more in the spotlight than usual. Recently, elected officials representing Nevada met at the law offices of Holland & Hart in Las Vegas to discuss some of the issues they face. Connie Brennan, publisher of Nevada Business Magazine, served as … [Read more...] about Industry Focus: Elected Officials
May 2010: Around the State
New Tax Benefits Aid Employers Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. The provisions are part of the Hiring Incentives to Restore Employment Act (HIRE). Employers who hire unemployed workers between Feb. 3 of this year and Jan. 1, 2011 may qualify for a 6.2 percent payroll tax incentive. … [Read more...] about May 2010: Around the State
Bruce Hendricks: Bank of Nevada
Chief Executive Officer Las Vegas Number of Employees: 437 Years in Nevada: 41 Years with Company: 10 What inspired you to get into banking? When I was in college, I got a job as a teller at a local bank and really enjoyed the people. After I graduated, I had the chance to join a bank’s management program and that was the start. Describe your leadership … [Read more...] about Bruce Hendricks: Bank of Nevada
City of Reno
What a difference a year makes in comparing this year’s City of Reno Special Report with last year’s. Although the economy was certainly in the doldrums a year ago, these past 12 months have taken an even greater toll on business and economic development in Reno. As the city continues to grapple with significant shortfalls in basic revenues, it expects to cut around $35 million … [Read more...] about City of Reno