The economic downturn in 2007 left both residential and commercial developers and builders in the Silver State scrambling for work. Many were forced to downsize their staffs, and some even closed their doors. “Since 2008, the development business has been a fraction of what it was,” said Doug Kiersey, president of Dermody Properties, a Reno-based industrial … [Read more...] about The Survivors: Builders and Developers in Nevada
Reno
Retail Summary: Second Quarter 2012
Las Vegas Vacancies within the retail sector have remained in a relatively tight range during the past three years, suggesting increased stability has emerged within the sector. During the second quarter of 2012, the vacancy rate increased a modest 0.1-percentage point over both the prior quarter (Q1 2012) and prior year (Q2 2011) to 10.5 percent. With no new inventory … [Read more...] about Retail Summary: Second Quarter 2012
Nevada’s Diverse Businesses: Minority-Owned Companies Thrive in the Silver State
The year is 2012 and it feels strange and a little uncomfortable to be considering minority-owned businesses. Twelve years into the 21st century, it seems there should no longer be a designation for minority-owned business – business should be business and everyone should be working together through the slowly recovering economy. Which is pretty much the case once a business … [Read more...] about Nevada’s Diverse Businesses: Minority-Owned Companies Thrive in the Silver State
Best Companies to Work for 2012
In an economy where simply finding a job is an accomplishment in and of itself, being named one of the Best Companies to Work For is doubly impressive. With so many Nevadans seeking work, the following companies have recognized the value of their employees and go above and beyond to ensure they’re taken care of. While many businesses have had to cut employee benefits or … [Read more...] about Best Companies to Work for 2012
Gaming: Betting on a Comeback
Nevada’s gaming industry today continues to recover, with some regions faring better than others. “Both Southern and Northern Nevada markets are struggling right now,” said John Farahi, CEO of Monarch Casino & Resort Inc., which owns Atlantis Casino Resort Spa, in Reno. State gaming revenue has been picking up slowly since it took about a $2.4 billion hit when the … [Read more...] about Gaming: Betting on a Comeback
Nevada Industry Excellence: Manufacturing
With manufacturing suffering nationally along with the rest of American business, it is largely thriving here in Nevada. The engine has been a combination of factors – from legislative miscues in California and a strong Nevada workforce and overall business climate to the relatively low price of land and facilities, an available and affordable workforce, savvy strategy and … [Read more...] about Nevada Industry Excellence: Manufacturing
Office Summary: Second Quarter 2012
Las Vegas The office sector witnessed an increase in vacancies for the fifth consecutive quarter. The vacancy rate reached 25.6 percent by the mid-point of 2012, up 0.4 percentage points over last quarter. Compared to the same period last year, the vacancy rate reported a more dramatic 1.3 percentage point increase. Approximately 128,000 square feet of new office space … [Read more...] about Office Summary: Second Quarter 2012
Rural Nevada: Unique Opportunities in Unique Communities
The answer to how to succeed in business without really trying is not as complex as you may think. Business owners should tune their ears in to what is happening in rural Nevada. They may be pleasantly surprised at all they will learn ranging from the mining boom in Elko to the interesting products that are made in Nevada. “Every rural community in Nevada is unique in character … [Read more...] about Rural Nevada: Unique Opportunities in Unique Communities
Branding: Managing and Defining Your Company’s Image
Every Nevada company, whether a one-man operation or a large corporation, has a brand. The difference is some businesses have defined and continually reinforce theirs whereas others haven’t and don’t. “You’re brand is a living, breathing thing that you work on every day,” said Dave Kirvin, partner at Las Vegas-based Kirvin Doak Communications, which specializes in public … [Read more...] about Branding: Managing and Defining Your Company’s Image
Office Summary: First Quarter 2012
Las Vegas The office sector continues to remain fragile with further reductions in pricing amid relatively little change in the vacancy rate. The vacancy rate remained flat from the prior quarter at 25.2 percent (13.1 million square feet) by the close of the first quarter of 2012. On a year-over-year basis, the vacancy rate has increased 1.5 percentage points. Despite one … [Read more...] about Office Summary: First Quarter 2012
Industrial Summary: Fourth Quarter 2011
Las Vegas The Las Vegas Valley industrial market continues to report rising vacancies and further pricing adjustments. The vacancy rate moved upward to 19.0 percent as 418,900 square feet of negative net absorption was reported during the first quarter of 2012. For comparison purposes, the vacancy rate is up 0.4 percentage points from the previous quarter (Q4 2011), and is … [Read more...] about Industrial Summary: Fourth Quarter 2011
Tourism: Welcome Back
Nevada’s travel and tourism industry employs one-third of the state’s population. From hospitality to gaming and from the “What happens in Vegas Stays in Vegas” campaign to Northern Nevada being America’s Adventure Place, the Silver State has been promoted as a world class destination. At the same time, “diversify” has become the State’s battle cry over and over, with warnings … [Read more...] about Tourism: Welcome Back
Deriving Value from Patents: Legal Challenges and Strategies for Handling Them
United States patent grants the owner an extraordinary property right. In exchange for the patent’s teaching of how to make and use a patentable invention, the patent grants the patent owner the exclusive right to seek to exclude others from exploiting the invention. Patent owners can use this exclusion right in a variety of ways. In addition to using a patent to exclude others … [Read more...] about Deriving Value from Patents: Legal Challenges and Strategies for Handling Them
What is Paper? Nevada Embraces Technology and the People that Create It
Remember when businesses relied on rotary phones, typewriters and snail mail, when sales were done face to face and clients paid by cash or check? Today’s essential work tools are a cellphone, laptop or tablet and the Internet. We have e-mail, videoconferencing, telecommuting, e-tail, PayPal, apps and so much more. “There are so many technologies to choose from,” said Dave … [Read more...] about What is Paper? Nevada Embraces Technology and the People that Create It
Retail Summary: Fourth Quarter 2011
Las Vegas The anchor-centered retail market recorded 196,600 square feet of positive net absorption during the fourth quarter of 2011, pushing the vacancy rate downward to 10.6 percent. While vacancies edged down by 0.3 percentage points from the third quarter of 2011, the overall vacancy rate remains higher than the 10.3 percent reported one year ago (Q4 2010). As the … [Read more...] about Retail Summary: Fourth Quarter 2011