Strategic Plan to Address Growth in Southern Nevada

Critical Issue: Economy/ Economic Development

Southern Nevada has experienced unprecedented economic growth, but region’s employment is associated with just two industries, gaming and construction. Consequently, we must continue to diversify the economy. A crucial aspect of diversification is to attract businesses and industry that will equally participate in and contribute to the economy of Southern Nevada. As we diversify our economy we must ensure that the tax burden is distributed more evenly. Also, we need companies that will provide employee compensation and benefits at levels that do not strain health and other public service provision systems while having reasonableaccess to the housing market. Our vulnerability to economic downturn is escalated by the continued nationwide expansion of gaming and, in particular, the November 3, 1998 vote in California to legalize gaming on Indian reservations.

Economy/Economic Development Recommendations

Immediate State/Local Action
Create an Economic Diversification Team, coordinated through the Nevada Development Authority with the resources of the state, local jurisdictions, education and business leaders to focus diversification efforts on businesses and industries that will contribute to tax base expansion and provide employee compensation, including benefits, at levels that avoid burdening existing service provision systems.

Provide educational programs for skilled workforce development.

Develop a 5-year marketing plan to communicate the positive aspects of living and working in the Las Vegas valley.
Economy/Economic Development Recommendations

Immediate Local Study - Potential Future Legislation
Pursue legislation that will enable the provision of infrastructure to support economic development/diversification.

Evaluate and establish programs that will increase Southern Nevada’s competitive advantage while not eroding the tax base.