Published February 1, 2023 at 5:51 PM PST There are projections of a looming national recession and yet Andrew Woods of UNLV’s Center for Business and Economic Research projects that Clark County’s population is projected to grow this year by 52,000 people. Woods told KNPR State of Nevada Host Joe Schoenmann today that 2022 was a story about the resiliency of the American consumer, and 2023 will be about the resiliency of American business. “We have higher wages, higher business rates, we have cooling demand. We have gluts in surplus. Before we had supply chain snarls,” Woods said. “I think it’s going to be about how does business react to this new economy? We don’t forecast a recession… at this time but we do forecast a cooling of demand and cooling of the economy over the next two years.” Woods noted that the U.S. economy will continue to grow during this period, which saw 2.1 percent growth in 2022 when compared with 2021 levels. He forecasts a 1 percent economic growth rate this year. In October, state employment grew by 7,500 jobs, Woods added, noting that “we have more jobs [...]

LAS VEGAS (KSNV) — The Henderson Chamber of Commerce hosted its "InSight" event Wednesday night. It's an annual event that looks at economic trends and developments and sees what's coming for Henderson. Topics included inflation, housing, consolidated tax projections, interest, and unemployment rates. Newly elected Henderson Mayor Michelle Romero says she is optimistic about this year's outlook. "Henderson's economy is doing very well. We have made an effort to diversify our economy to find different employers and different types of jobs so that any time we have an economic downturn, we're able to weather it a little better than maybe some of our other counterparts," Romero said. There were also special guest appearances from economic experts John Restrepo and Mike Pequeen. SEE THE ORIGINAL ARTICLE

Buying a home is one of the biggest purchases most people will make in their lives. Over the last few years, people have been paying a premium for homes in Nevada —many times bidding way more than the asking price; sometimes having to get into a lottery just for the chance to make a bid. Then the Federal Reserve raised interest rates as a way to fight inflation. The cost of getting a home mortgage rose, and home prices have fallen. According to the National Association of Realtors, sales have fallen by about 35% since last year. So now, prices are going down and housing stock has increased. Lee Barrett is the 2023 president of Las Vegas Realtors. He’s said that buyer confidence is going down, despite dropping home prices. “I hate to say a perfect storm,” he told State of Nevada host Joe Schoenmann on Thursday. “But it’s an opportunity that they’re not looking at. The sophisticated buyer will pay attention to this market; the person that’s concerned and afraid will miss out because as the prices drop, there’s going to be opportunity there.” In 2012, the median [...]

The news says that adult use of marijuana has reached 46 percent, and 68 percent of Americans think it’s time to have marijuana federally legalized (according to Gallup experts). More and more states are legalizing medical and recreational cannabis, so alignment with federal laws is on the agenda. When will the Senate vote on the MORE act 2022? In March, the Senate unanimously approved the Cannabidiol and Marijuana Research Expansion Act. This is an important step toward legalization. Should marijuana be legalized federally legal As of 2022, there is no federal decriminalization of marijuana. Legal weed is available locally in the United States – 19 states and the District of Columbia allow recreational use, 19 states only allow medical marijuana. Why should marijuana be legalized federally? Here are a few reasons: Tax revenue. Using Colorado as an example, total weed revenue collections from 2014 to 2021 were $105.6 billion. And analysts at New Frontier predict that when marijuana is legalized federally by the Senate, the Treasury will receive an additional $105.5 billion in federal excise tax revenue. Budget savings. The American Civil Liberties Union noted back in 2013 the [...]

Governor Sisolak's Infrastructure Summit Friday, September 30 | 9 AM - 5 PM | Las Vegas Convention Center, South Hall (3150 Paradise Road, Las Vegas, NV) We are so excited to have you join us this Friday, September 30, for Governor Sisolak's Infrastructure Summit! We wanted to share a few logistical items with you. Please review this message as it has several important details for the event. Below please find the program and schedule for the day. Sign-In for the Summit will open at 8:00 a.m. We kindly ask that you arrive by 8:30 a.m. at the very latest, as Governor Sisolak will open the Summit promptly at 9:00 a.m. Please find below a map and parking information for the Summit. Parking is available in either Silver Lot 3 or Bronze Lot 1. Please enter through the west entrance at South Hall and take the escalator up to the second floor for check-in. We are excited to have an official hashtag for the event, and we hope that you will join the conversation on social media by using #NVInfrastructureSummit. Thank you and we look forward to seeing you on Friday!

Western Real Estate Business magazine, Western Multifamily & Affordable Housing Business magazine, and the InterFace Conference Group are pleased to announce the InterFace Las Vegas Multifamily Conference will be held in person on October 3rd, from 12:20 to 4:30 p.m., at the Green Valley Ranch Resort. Network with decision-makers in the Las Vegas apartment market and hear from leading multifamily developers/owners/investors, brokers and lenders/financial intermediaries. Engaging panel discussions will cover the impact of the pandemic on the multifamily market in Nevada, the economic outlook, the development pipeline, and which submarkets hold the greatest potential in the near term. The event will attract attendees from throughout the Nevada area, including owners, investors, developers, managers, buyers and lenders who are active in Class A, B and C multifamily properties. The conference will explore the latest trends in investment, development, leasing, and operations, as well as economic and demographic trends that impact the multifamily market in Las Vegas. InterFace Conference Group will also be hosting the InterFace Las Vegas Industrial conference on the morning of October 3rd at 7:30am – 11:30am. MORE INFO AND REGISTRATION

Western Real Estate Business and the InterFace Conference Group are pleased to announce the annual InterFace Las Vegas Industrial conference will take place in person on October 3rd, from 7:30 - 11:30 a.m., at Green Valley Ranch Resort. The event will include those who are buying, selling, developing, redeveloping, leasing, or financing industrial properties in Nevada. Speakers at the conference will discuss the latest trends in industrial development and investment, as well as how evolving logistics patterns are impacting the industrial market in the Las Vegas area. The logistics industry and distribution facilities continue to evolve to meet the increasing demand for online shopping and to adjust to pressures from supply chain disruptions. Meanwhile, new technology continues to drive changes in real estate intended for manufacturing companies. Where are the opportunities for industrial space developers, investors and occupiers in the Las Vegas market? Hear insights from local market leaders and network with industry decision-makers. The event will attract attendees from throughout Nevada and surrounding western states, including owners, investors, developers, managers, buyers and lenders who are active in industrial real estate properties. If you are active in industrial real estate in Las Vegas, mark your calendar to attend! InterFace Conference Group will also [...]

September 26, 2022 By Press Release Wire LAS VEGAS – The Nevada Bankers Association (NBA), the united voice of Nevada’s diverse banking and trust company industry, is presenting its 2022 Credit & Lenders Conference on Oct. 25 and 26 at Park MGM in Las Vegas. Lending professionals from across the state will hear from experts and strategists and experience interactive sessions and networking opportunities. Conference topics include commercial real estate markets throughout Nevada, succession planning, credit conditions, appraisal and valuation trends, small business data collection and managing digital assets, to name a few. Special industry panels will focus on credit scores, federal regulators such as OCC, FDIC, and the Federal Reserve, and tribal and gaming lending. “Our goal is to have attendees leave with deeper insights into markets, programs and conditions impacting lending in Nevada,” said NBA President and CEO Phyllis Gurgevich. “Focusing on building stronger partnerships with customers, creating strong loans and closing more business, the conference content should prepare attendees to better serve Nevada businesses.“ Top-level speakers scheduled to present at the conference include John Restrepo, RCG Economics; Heather Brown, StartUp Vegas; Andrew Woods, UNLV Center For Business Economic Research; Darwin Hopwood, [...]

September passenger counts are now out from McCarran International Airport. Traffic soared up by 6.8% from the same month a year ago to more than 4.3 million. This marks 7 months in 2019 with the airport having more than 4 million passengers, and 12 consecutive months of YoY growth in air traffic. To date, 2019 has seen a 3.4% increase in arriving and departing passengers.   Digging in a little deeper, international traffic actually fell by 3.6% in September, while domestic carriers were up 7.5% for the month. International passenger growth has only seen slight growth for the year to date. Looking at the top domestic carriers, Southwest is down 1.9% for the month, tracking a trend it has seen all year. Spirit posted yet another month of explosive growth, which has allowed it to leapfrog other carriers in the last year to take the number 2 spot for domestic air traffic.