Technology companies continue to flock to Northern Nevada. In addition to bringing a slate of new jobs to the region, they also are providing an influx of capital that’s reshaping the region’s new economy.
The best small business owners, the ones who survive the inevitable challenges of a startup and create an organization that will thrive in all sorts of economic environments, are the business owners who seek the best help and guidance. That’s precisely the sort of help and guidance they’ll receive at the NCET Small Business Expo.
A diverse economy is stronger than one based on only one or two industries. Traditionally, Nevada’s economic foundations have depended on mining and travel, tourism and hospitality. When the last recession hit even the hospitality industry, a serious move to diversify the economy began.
The Economic Development Authority of Western Nevada (EDAWN) will host the inaugural Reno Venture Conference in an effort to increase early stage investment in the local economy.
In December, nine Assembly members and five state senators came together to discuss the current and future state of technology-driven economic development happening in Nevada. Composed of lawmakers from the north and south, the newly formed Tech Caucus is a bicameral, bipartisan group focused on enlightening the Legislature on emerging technology and business-related issues in the upcoming session.
According to experts, the outlook for Nevada’s economy this year is positive and projected to fare at least as well as it did, or perhaps even better, in 2018. However, one or more known or unknown wild cards could have a dampening effect.
Since the great recession, the Reno-Sparks economy has been on a roll — unemployment rates have plummeted and capital investments made by game-changing companies have surged. Mike Kazmierski, president and CEO of the Economic Development Authority of Western Nevada, has been helping lead the charge and keep the pace since arriving in Reno in 2011.
The depth of the economic crater Nevada fell into—the state’s unemployment rate hit a staggering 14.5 percent in December 2010—makes its climb back to prosperity nothing short of remarkable. Nevada did much more than simply ride the rising tide of the national recovery. To put it simply, the Silver State reinvented itself.
Tech employment in the United States expanded by nearly 200,000 jobs in 2017 to 11.5 million workers, according to a recent report by technology industry association CompTIA. Thirty-eight states saw positive tech employment growth in 2017, including Nevada. The state added 1,419 net new tech jobs year-over-year, raising the estimated tech industry employment in the state to 31,393.