By Jessica Levy, for Economic Development Authority of Western Nevada (EDAWN)
The path to startup success doesn’t always go through Silicon Valley.
As the cost of living and doing business in mega-cities continues to break records, entrepreneurs are discovering a desirable alternative: neighboring Reno, Nevada. No longer known for its gaming culture, Reno is building a reputation as the right place for entrepreneurs who are ready to bet on themselves and their big ideas.
Free from the intense competition of the Bay Area (yet close enough to make an appeal to Bay Area investors) Reno offers outside innovators a chance to come and make their mark while building something amazing.
The “Biggest Little City in the World” is doing its part to help stack the odds in entrepreneurs’ favor. Businesses that set up shop in Reno pay no corporate income taxes, personal income taxes, franchise taxes or inventory taxes.
Additionally, entrepreneurs benefit from some of Nevada’s larger initiatives to support economic growth. The city of Reno works hand in hand with the Economic Development Authority of Western Nevada’s (EDAWN) and the Governor’s Office of Economic Development (GOED) to support companies that want to expand or relocate into the city.
The city’s success is bolstered by its active approach to recruiting entrepreneurs. EDAWN works with Bombora, an intent data provider, to identify companies which may be looking to relocate. Then, EDAWN will often reach out to start a conversation about what Reno can offer.
Business leaders are listening. The city boasts a long list of success stories, including companies that recently decided to move or expand into Reno: FinTech company Figure Technologies, Y-combinator alum Iris Automation, Internet of Things (IoT) developer Breadware and a host of others.
Joining Reno’s diversified tech lineup are industry giants including Apple (which recently opened a warehouse in downtown Reno), Google (which will soon move into the Tahoe Reno Industrial Center) and Tesla (which chose the Industrial Center to house its new Gigafactory). Those big names lend credibility to Reno as a true technology powerhouse.
Of course, while the city is proud of its tech-friendly reputation, it’s not just technology companies that call Reno home. Just take subscription underwear service Panty Drop, for example. The company not only helps women of all shapes and sizes feel beautiful, but also works with nonprofit partners to help close the gender leadership gap.
Read the rest of the article at rgj.com.