For City National Bank, 2016 was one of its best years since the economic downturn. Today, with $47 billion in assets, its financials are more robust overall, profitability is improved, topline revenues are increasing and its number of clients is up, said Scott Aney, Nevada regional executive. In fact, in December, executives signed a 10-year lease extension for City National’s … [Read more...] about Banking on Nevada: Stronger + in Recovery Mode
The Ups and Downs: Nevada’s Economic Forecast
Experts are bullish on Nevada’s overall economy this year, anticipating continued recovery from the recession and growth, they said. Four key markers support their outlook: Wages: The average private weekly wage for Nevada workers peaked in October at $758.86, representing a 2.3 percent year-over-year increase, according to Applied Analysis, a Las Vegas-based economic fiscal … [Read more...] about The Ups and Downs: Nevada’s Economic Forecast
Nevada’s Industrial Future: Two Parks Hold Great Promise for the Silver State
“It was the best of times, it was the worst of times” applies to Nevada’s tale of two industrial parks, one in the north and huge, the other in the south and a fraction of the size. Though the genesis of both took place at about the same time, in the late 1990s, their courses differed radically due to various circumstances of ownership, place and time. Today, the one with 17 … [Read more...] about Nevada’s Industrial Future: Two Parks Hold Great Promise for the Silver State
Taking Cover: Trends in Nevada’s Commercial Insurance
When it comes to risk and managing risk, successful CEOs understand the importance of thorough planning and solid insurance with up-to-date information on the latest rules and regulations. While the commercial insurance industry in Nevada has overall remained relatively static, some new trends have emerged and are growing. Those are highlighted here along with an overview of … [Read more...] about Taking Cover: Trends in Nevada’s Commercial Insurance
Lean Construction: Slow-Growing Nevada Trend
On Nevada Day at the end of this month, Valley Health System will open Henderson Hospital, its sixth hospital in Southern Nevada. VHS’ parent company Universal Health Services Inc. began the 130-bed, 247,000-square-foot facility project in May 2014. At that time, the corporation and the group of design and construction service providers chosen for the endeavor set the primary … [Read more...] about Lean Construction: Slow-Growing Nevada Trend
Commercial Builders: The Rebound and the Growing Pains
Whereas Nevada’s commercial construction industry was all but dead five years ago, today it’s alive, with activity edging up. “We are finally in a period of growth. A lot more work is happening,” said Mac Bybee, president, Associated Builders and Contractors Inc. (ABC), Nevada Chapter, a statewide trade association that provides training, apprenticeship programs, government … [Read more...] about Commercial Builders: The Rebound and the Growing Pains
Manufacturing: Organizations Work to Bolster Industry
A major focus of the state’s economic development organization and other agencies throughout Nevada is growing and supporting the state’s manufacturing industry, and their efforts continue to bear fruit. “There are so many people working right now, from the governor all the way down, to make sure we provide workforce and housing and stimulate the economy in ways that have … [Read more...] about Manufacturing: Organizations Work to Bolster Industry
Nevada’s Credit Unions Experience Growth
Despite new and ongoing challenges, Nevada’s credit unions are experiencing an upswing in membership and activity. Of the state’s 17 credit unions, the nine in Northern Nevada attained a record high membership of 112,347 by adding 3,973 individuals between the fourth quarters of 2014 and 2015, the most recent period for which Nevada Credit Union League (NCUL) data is … [Read more...] about Nevada’s Credit Unions Experience Growth
Property Management: Industry Grows as Commercial Real Estate Rebounds
Nevada’s real estate markets continuing to rebound is great news for commercial property managers, as it translates into more and more work to go around. Property management firms generally have been getting busier over the last one to two years. Avison Young’s team in Las Vegas, for example, now manages 3.4 million square feet for 30 clients. Gaston & Wilkerson Management … [Read more...] about Property Management: Industry Grows as Commercial Real Estate Rebounds
Healthcare Check-Up: Nevada Hospitals Continue Adapting to Changes
Today, six years after the Patient Protection and Affordable Care Act (ACA) was enacted, with an economic rebound and significant population enlargement in the interim, Nevada’s hospitals are still managing the impacts of those changes. Increased Volumes Most Silver State hospital systems continue to experience increased patient volumes, which is unusual considering the … [Read more...] about Healthcare Check-Up: Nevada Hospitals Continue Adapting to Changes
30 Years Covering Nevada: Happy Birthday Nevada Business Magazine
In celebration of the magazine’s 30th anniversary, the editorial staff took the opportunity to explore how Nevada has changed over the last three decades and what that’s meant for business. In addition, six resident companies have been highlighted in the following pages. Each has also met the three-decade milestone. Each of their stories show a resilience that speaks to why … [Read more...] about 30 Years Covering Nevada: Happy Birthday Nevada Business Magazine
A Boon to Nevada’s Economy: Tourism Growth
A bright spot in Nevada’s economy, the tourism industry, has grown over the past few years and is a driving force behind Nevada’s comeback. In fact, the industry has grown to the point that Elko outgrew its convention center and Las Vegas plans to expand its facility. This hospitality/leisure sector accounted for 28.1 percent of the state’s total employment at the end of … [Read more...] about A Boon to Nevada’s Economy: Tourism Growth
Retail Market: Nevada’s Retail Shows Slow, Steady Improvement
The retail component of Nevada’s commercial real estate industry continues to recover, with vacancy rates slowly dropping. Southern Nevada In the Silver State’s southern region, the retail sector shows “moderate recovery,” said John Restrepo, principal of RCG Economics, a Las Vegas-based firm providing market trend analysis and economic research. Lower gas prices have left … [Read more...] about Retail Market: Nevada’s Retail Shows Slow, Steady Improvement
Telecom Technology Advances Transform How Nevada Does Business
A Southern Nevada-based radiology practice of more than 60 physicians with numerous offices uses a custom-designed network linking all locations, including the physicians’ homes, in order to read films there any time of the day or night when on call. The technical arrangement demands an ultra high-speed connection. Cox Communications, a broadband communications and … [Read more...] about Telecom Technology Advances Transform How Nevada Does Business
Unmanned Aerial Vehicles: Cultivating a New Industry in Nevada
Seeking to benefit from the anticipated, widespread commercial use of the unmanned aerial vehicle (UAV) nationwide, Nevadans have been working diligently to cultivate an industry around this type of aircraft. Integration of unmanned aerial vehicles into the U.S. would create more than 100,000 jobs and have an economic impact of $82 billion nationally by 2025, estimated the … [Read more...] about Unmanned Aerial Vehicles: Cultivating a New Industry in Nevada