Over the last five years, the banking industry has seen significant changes, including the use of technology, client behavior and economic downturns. "The pandemic played the biggest role [in changing the industry], but some of the changes were already beginning to transpire," said David Navarro, Nevada regional president, Enterprise Bank & Trust. Flexible work … [Read more...] about Banking on Nevada
Extreme Takeoffs and Soft LandingsEconomic Forecast 2024
Welcome to 2024. Following three years of economic extremes, from historic high unemployment and business lockdowns to the pandemic-caused bust and stimulus-caused boom, it's been a ride. The Governor's Economic Advisory Council, launched in tumultuous 2020, is lead by Bob Potts, deputy director, Governor's Office of Economic Development (GOED). The council collects data … [Read more...] about Extreme Takeoffs and Soft Landings
Credit Unions In NevadaMembership and Community
Statewide, credit unions in metro and rural areas may have very different markets. However, the top issues they're facing are consistent when contrasted between credit unions and traditional banking, between Nevada and the rest of the U.S., and between metro and rural. "Overall banking issues are relatively consistent across the state and the nation as technology continues … [Read more...] about Credit Unions In Nevada
Not So Risky BusinessWhat To Know About Business Insurance
"The insurance industry has been around forever," said Scott Kerestesi, CEO, Cragin & Pike. "It started with ships sailing across the ocean with goods and when [there was an event], it took forever for things to happen. When a building burns down it takes six, nine, 12 months to rebuild. Today with cyberattacks it's like, 'Hey, we've been hacked and we need to know what to … [Read more...] about Not So Risky Business
The Evolving Face of CybersecurityThreats and Counteroffensives
"Imagine walking into your office Monday morning and every computer has a ransom note on it," challenges Sean Connery, chief security officer, Orbis Solutions. "All your data has been encrypted so that you cannot process it. The bad actors most likely have been in your system for days, if not months, and deleted all your backups. [They] know how much your insurance will pay … [Read more...] about The Evolving Face of Cybersecurity
Upskilling NevadaA Look at the State’s Workforce Development Post-Pandemic
"Overall, Nevada's job market has been performing at a relatively strong pace post-pandemic," said Brian Gordon, principal, Applied Analysis. "The state continues to be near or at the top of the list in terms of overall growth performance nationwide. At the same time, Nevada has ranked atop the list in terms of the overall unemployment rate. So, Nevada is faced with this unique … [Read more...] about Upskilling Nevada
Home Sweet Custom HomesGrowing Nevada’s Custom Home Market
The luxury home market in Nevada faced a slowdown in 2022 as the Fed raised interest rates seven times during the year and the word "recession" was used too often for some buyer's comfort. Some developers didn't even want to call it a slowdown–it was more of a pause. Because even with an uncertain market, Nevada continues to grow, and Nevada's custom home market … [Read more...] about Home Sweet Custom Homes
Southern Nevada CCIMEducation, Expertise, Exceptional Professionals
The Certified Commercial Investment Member–CCIM–designation is a mark of excellence within the commercial real estate industry. “The designation provides you with immediate credibility and access to a national and international network of strong brokers,” said Southern Nevada CCIM president elect and a first vice president with CBRE, Roy Fritz. “It took me four years to get … [Read more...] about Southern Nevada CCIM
Nevada Governor’s Office of Economic DevelopmentThe Transformation of Nevada
In April of 2020, with all nonessential businesses closed, unemployment in southern Nevada stood at just over 31 percent; in northern Nevada it was more than 18 percent. By December 2020 Las Vegas had dropped to 12.2 percent and Reno to 5.8. Put simply, that is the effect of diversifying the economy, a process that Nevada’s development authorities have built on experience from … [Read more...] about Nevada Governor’s Office of Economic Development
Investing in NevadaUncertain Investments, Potential Payoffs
"Overall, we're in a very fearful time, very uncertain, and people tend to get very concerned and uneasy [about investments] because it's about their future," said Brian Loy, CFA, CFP, Wealthspire Advisors. "Money is emotional. As much as we want to be rational beings and make smart business decisions, at the end of the day, it's emotional." Where Investors Are Parking Their … [Read more...] about Investing in Nevada
Healthcare Check-UpRealities and Opportunities in Nevada Medicine
"Everyone in healthcare is struggling with this," said Dr. Paul Krakovitz, region president, Intermountain Health. "It's not just in Nevada where we have a very low number of physicians and advanced providers per capita. It seems to be worse in our state, but it is an issue around the country." The question of how to provide quality care to patients given the shortage of … [Read more...] about Healthcare Check-Up
City of HendersonAudacity Henderson
When it comes to economic development, Henderson is all in to win Henderson has long been known for its pro-business climate and our business community surveys confirm we are an excellent place to do business. We’ve enjoyed great success in recent years in helping to diversify southern Nevada’s economy, welcoming Haas Automation and other advanced manufacturers, Google and … [Read more...] about City of Henderson
Education OutlookOut of the Pandemic and into the Future
Good things are happening throughout Nevada's education systems starting with K-12 all the way through postgraduate. From proposed funding under new state leadership to dual enrollment programs paving the way to college for high school students, education is getting the attention it deserves. In January, Governor Lombardo's proposed budget included raising K-12 per pupil … [Read more...] about Education Outlook
Banking on NevadaHealthy Growth Post-Pandemic
"Overall, '22 was a strong year for earnings for the banking industry," said Terry Shirey, president and CEO of Nevada State Bank. "A lot of loan growth occurred, historic loan growth. We had very low interest rates when we started the year, very strong economic conditions and that really played out on bank balance sheets where we were able to do a lot of high-quality new loan … [Read more...] about Banking on Nevada
Changes AheadA Look at Nevada’s Economic Forecast for 2023
A changing of the guard at the highest level of state government means a potential change in headwinds for the 2023 economic forecast. "You are going to have a Republican [in the] Governor's Mansion, a super majority in the Assembly but not in the Senate, even though the Senate and Assembly are both Democrat controlled," explained Cindy Creighton, president, Nevada … [Read more...] about Changes Ahead