Las Vegas Demand for office space in the Las Vegas valley remains relatively weak as new product entered the market. Inventory rose during the quarter to 50.4 million square feet as two new projects were completed. Office space totaling 145,000 square feet as part of the first phase of Tivoli Village and nearly 8,200 square feet of space on Henderson’s historic Water … [Read more...] about Office Summary: Second Quarter 2011
Monthly Editorial Departments
Business Indicators: September 2011
U.S. real GDP grew at an annualized rate of 1.3 percent during second quarter 2011, up from the revised first quarter estimate of 0.4 percent. U.S. non-farm employment increased by an anemic 117,000 jobs (seasonally adjusted) in July, which represents an improvement over the May and June figures of 25,000 and 18,000, respectively. Mostly as a result of declining labor-force … [Read more...] about Business Indicators: September 2011
August 2011: Around the State
Record International Visitation for Las Vegas According to data garnered primarily from US Department of Commerce research, international visitors now contribute to Las Vegas’ bottom line more than ever before. Comprising 18 percent of overall visitation to Las Vegas and 27 percent of tourism revenue in 2010, international visitors have increased in the double digits over the … [Read more...] about August 2011: Around the State
ObamaCare will Squeeze Education, Other Needs: Nevada Medicaid commitments on track to crowd out alternative priorities
Often lost in the debate over the Patient Protection and Affordable Care Act (PPACA) — the sweeping health care “reform” legislation popularly known as ObamaCare — is the impact it will have on education, public safety and other public services as health insurance subsidies begin to consume a greater share of state spending. Congressional Democrats claimed, when passing … [Read more...] about ObamaCare will Squeeze Education, Other Needs: Nevada Medicaid commitments on track to crowd out alternative priorities
Industrial Summary: Second Quarter 2011
Las Vegas The Las Vegas Valley industrial market slowed to a level not seen in several years. The vacancy rate edged up slightly to 18 percent as 135,600 square feet of negative net absorption was reported during the second quarter. For comparison purposes, the vacancy rate is up 13 basis points from the previous quarter (Q1 2011) and up 1.8 percentage points from the same … [Read more...] about Industrial Summary: Second Quarter 2011
August 2011: Business Indicators
The pace of U.S. economic growth slowed noticeably in first quarter 2011, with real GDP growth slowing to 1.9 percent at an annualized rate—a considerably weaker pace than the 3.1 percent figure posted in fourth quarter 2010. Providing evidence of continued economic weakness into second quarter, U.S. nonfarm employment rose by only 25,000 jobs (seasonally adjusted) in May and … [Read more...] about August 2011: Business Indicators
July 2011: Around the State
Nevada Conservation Corps Receives Federal Funding The Great Basin Institute’s Nevada Conservation Corps (NCC) has received a national 2011 AmeriCorps grant from the Corporation for National and Community Service. The grant will fund 143 AmeriCorps member positions and bring $613,699 of federal funds into the state. The NCC is a statewide program that provides services … [Read more...] about July 2011: Around the State
Large Tax Increase Traded for Small Reforms: Tax Issues Define Legislative Session
For the first 108 days of the 2011 Nevada Legislative Session, Gov. Brian Sandoval defined the policy debate by being a strong advocate for Nevada’s taxpayers and business owners. On May 26 however, the Nevada Supreme Court correctly ruled that state government couldn’t take $62 million from the Clean Water Coalition and transfer that money to the state’s general fund. The … [Read more...] about Large Tax Increase Traded for Small Reforms: Tax Issues Define Legislative Session
Retail Summary: First Quarter 2011
Las Vegas Retail vacancies pushed upward after three consecutive quarters of decline. The vacancy rate jumped to 10.4 percent during the quarter, an increase of 0.2 percentage points compared to the previous quarter (Q4 2010), but 0.3 percentage points less than the same period in the prior year (Q1 2010). Average asking rents continued their downward trend, slipping to $1.53 … [Read more...] about Retail Summary: First Quarter 2011
July 2011: Business Indicators
The pace of U.S. economic growth slowed noticeably in first quarter 2011, with real GDP growth dropping to 1.8 percent at an annualized rate—considerably weaker than the 3.1 percent figure posted for fourth quarter 2010. Providing evidence of continued economic weakness, U.S. non-farm employment rose by a meager 54,000 jobs (seasonally adjusted) in May. As a result of poor … [Read more...] about July 2011: Business Indicators
Around the State: June 2011
Nevada Solar Project Receives Conditional Commitment for Loan The U.S. Department of Energy (DOE) has offered SolarReserve, a developer of large-scale solar power projects, a conditional commitment for a $737 million loan. The loan would fund the 110 megawatt Crescent Dunes Solar Energy Project in Tonopah. Construction is slated to begin this summer. Upon completion, the … [Read more...] about Around the State: June 2011
Office Summary: First Quarter 2011
Las Vegas The Las Vegas Valley office market witnessed a modest decline in vacancy with continued downward price adjustments. While no new space completed construction during the quarter, the market reported 97,300 square feet of positive net absorption, sliding the vacancy rate 0.2 percentage points to 24.0 percent. Looking ahead, eight projects totaling nearly 1.2 … [Read more...] about Office Summary: First Quarter 2011
June 2011: Business Indicators
The U.S. economy slowed noticeably in the first quarter, with real GDP growth dropping to 1.7 percent at an annualized rate—considerably weaker than the 3.1 percent figure posted for fourth quarter 2010. Despite evidence of weakening economic activity, U.S. non-farm employment rose by a robust 244,000 jobs (seasonally adjusted) in April, marking the seventh straight month of … [Read more...] about June 2011: Business Indicators
May 2011: Around the State
Las Vegas Named No. 1 Trade Show Destination According to a list from Trade Show News Network, Las Vegas has been ranked as the number one trade show destination for the seventeenth consecutive year. Last year, Las Vegas was host to 60 of the 250 largest shows in North America, encompassing 20.7 million square feet or 32 percent of the total space used for all 250 … [Read more...] about May 2011: Around the State
A Model of Failure: A New Study Exposes the Law Behind Nevada’s Educational Woes
If you were to build a business enterprise from scratch, you’d likely consider a number of different models — various ways to strike a proper balance between necessarily competing objectives. For example, while you would probably seek to offer competitive salaries or wages to your employees, you would also be mindful of the need to limit your overhead costs. Your goal, … [Read more...] about A Model of Failure: A New Study Exposes the Law Behind Nevada’s Educational Woes