Revised estimates for fourth quarter 2012 show U.S. real GDP increasing at an annualized rate of 0.4 percent, a little higher than the “second” estimated rate of 0.1 percent. Private inventory investment, federal government spending, and exports made negative contributions. The reduction in federal government spending comes after a surge in defense spending during third … [Read more...] about May 2013: Business Indicators
Monthly Editorial Departments
April 2013: Around the State
IRS Announces Over $11 Million in Unclaimed Refunds for Nevadans The Internal Revenue Service (IRS) has announced that Nevadans who didn’t file a tax return in 2009 are entitled to over $11 million in unclaimed funds. The agency estimates a median $559 refund is waiting for just over 12,500 individuals in the Silver State. Returns from 2009 must be filed by April 15th of this … [Read more...] about April 2013: Around the State
Retail Summary: Fourth Quarter 2012
Las Vegas By the end of 2012, vacancies in the retail sector reached their lowest level since the first quarter of 2009. The vacancy rate ended the year at 9.9 percent, down 0.3 percentage points when compared to last quarter (Q3 2012). Compared to a year ago (Q4 2011) the rate is down an even greater 0.7 percentage points. The latest market activity suggests the retail sector … [Read more...] about Retail Summary: Fourth Quarter 2012
April 2013: Business Indicators
Revised estimates for fourth quarter 2012 show U.S. real GDP increasing by an annualized rate of 0.1 percent. Private inventory investment, federal government spending, and exports made negative contributions. The reduction in federal government spending comes after a surge in defense spending during third quarter, as a response to possible sequestration. In addition, Europe’s … [Read more...] about April 2013: Business Indicators
March 2013: Around the State
Southern Nevada Regional Coalition Launches Southern Nevada Strong The Southern Nevada Regional Planning Coalition (SNRPC) has launched a large-scale regional project called Southern Nevada Strong. Between now and 2015, the project will conduct in-depth research and community engagement efforts to propose collaborative solutions to issues facing Southern Nevada. The project is … [Read more...] about March 2013: Around the State
Hold On to Your Wallet: Legislature Once Again Has Taxpayers Bracing for Another Hit
No man’s life, liberty or property is safe while the legislature is in session,” Mark Twain famously said while covering the biennial mess in Carson City. Despite Twain’s warnings, Nevada lawmakers are meeting once again, for the 77th regular legislative session, and Nevada taxpayers are realizing, once again, that their property is not safe. That’s because politicians … [Read more...] about Hold On to Your Wallet: Legislature Once Again Has Taxpayers Bracing for Another Hit
Office Summary: Fourth Quarter 2012
Las Vegas During the fourth quarter of 2012, the office sector witnessed a quarter-over-quarter increase in vacancy rate. The market-wide vacancy rate for the fourth quarter of 2012 was 25.3 percent, up 0.3 percentage points when compared to the prior quarter (Q3 2012). Over one-fourth of existing office space has now been vacant for five consecutive quarters. For the year, … [Read more...] about Office Summary: Fourth Quarter 2012
March 2013: Business Indicators
First estimates for fourth quarter 2012 show U.S. real GDP decreasing by an annualized rate of 0.1 percent. Private inventory investment, federal government spending, and exports made negative contributions. The reduction in federal government spending comes after a surge in defense spending during third quarter, as a response to possible sequestration. In addition, Europe’s … [Read more...] about March 2013: Business Indicators
February 2013: Around the State
Southern Nevada Businesses Expect a Better 2013 According to the Southern Nevada Business Confidence Index, compiled by UNLV’s Center for Business and Economic Research, Southern Nevada businesses’ expectations are improving. The report found that, after two quarters of declining expectations, the index rose from 101.5 to 106.1 for the first quarter of 2013. The index is based … [Read more...] about February 2013: Around the State
Following Florida: Why School Choice Should Top Lawmakers’ Education Agenda
School choice, not Pre-K, has raised Florida’s test scores In 1998, Florida and Nevada had the exact same score on the National Assessment of Educational Progress (NAEP) test for fourth grade reading. In 1999, however, Florida Gov. Jeb Bush instituted a series of reforms, including corporate tuition scholarships, vouchers, grading schools from A-F, ending social promotion … [Read more...] about Following Florida: Why School Choice Should Top Lawmakers’ Education Agenda
Industrial Summary: Fourth Quarter 2012
Las Vegas With no completions during the quarter, the industrial market witnessed some increased demand, reporting approximately 32,000 square feet of positive net absorption. However, for the year, absorption remained negative with 243,700 square feet of net move-outs. Average asking rates remained flat at $0.51 per square foot per month for the fourth consecutive quarter. … [Read more...] about Industrial Summary: Fourth Quarter 2012
February 2013: Business Indicators
The U.S. economy is showing signs of moderate improvement. Revised estimates of U.S. real GDP for third quarter 2012 show an annualized growth rate of 3.1 percent, up from the previous estimate of 2.0 percent. Most of the revision can be attributed to a higher rate of inventory accumulation than previously estimated. Although real GDP growth was higher than the tepid 1.3 … [Read more...] about February 2013: Business Indicators
January 2013: Around the State
Home Prices Rising in Las Vegas According to recent statistics from the Greater Las Vegas Association of Realtors (GLVAR), Southern Nevada home prices increased again in November. The median price of single-family homes sold was $146,000, up 4.3 percent from the $140,000 in October and up 16.8 percent from the same period last year. Alternatively, in November, home sales went … [Read more...] about January 2013: Around the State
Why It’s Morally Wrong to Expand Medicaid: Government should protect property, not redistribute it
Why is stealing wrong? Is it wrong because it’s illegal? Or is stealing wrong because individuals have a God-given or natural right to their own property? To some people, that’s like asking, “Which came first: the chicken or the egg?” — in other words, they think the answer is unknowable. But there’s an essential difference here: Unlike the chicken-and-egg question, we … [Read more...] about Why It’s Morally Wrong to Expand Medicaid: Government should protect property, not redistribute it
Retail Summary: Third Quarter 2012
Las Vegas While the vacancy rate in the Las Vegas retail sector remains elevated, it posted both consecutive-quarterly and annual declines during the third quarter of 2012. The market reported a vacancy rate of 10.2 percent during the third quarter, down 0.3 percentage points when compared to the prior quarter (Q2 2012). Compared to a year ago (Q3 2011), the vacancy rate … [Read more...] about Retail Summary: Third Quarter 2012