CEO & Business Development Updates – October 2018

CEO & Business Development Updates – October 2018

CEO Updates

EDAWN announced in a press conference last week, New Deantronics (ND), an international, medical device technology manufacturer, which is establishing its U.S. facility in the Spanish Springs Business Center in Washoe County. The company is breaking ground on a purpose-built 200,000 sq. ft. facility for research/development and manufacturing. The facility will also include a medical device incubation center for local medical device start-ups. New Deantronics estimates they will invest more than $40 million for construction and equipment and will generate over 200 new jobs. Here is the Press Release.

 

EDAWN Board Endorses WC-1 – Protect our community from Truckee River Flooding. This is our chance to make our community better and safer at a minimal fee, while ensuring that we do not lose the $182M of federal funding if this initiative does not pass. WC-1 will not solve all our flooding problems, but after 20 years of talking and studying solutions since our last major flood, it is time to get this done. We need your help to protect our community – Vote Yes on WC-1. For more information or to help with WC-1 “Stop River Flooding”, go here.

 

Join Us at the 7th Annual EDAWN Existing Industry Awards, Thursday, October 18, 2018, at the Grand Sierra Resort. Give your support to the many existing companies that provide employment to thousands of Nevadans and contribute significantly to our region’s economic vitality. Join us to show your appreciation for the existing employers in Northern Nevada. Registration closes soon, so register now before it’s too late!
Congratulations To The Arts And Business Winners – EDAWN Arts & Business Luncheon and Awards event was held in partnership with the City of Reno, City of Sparks, Sierra Arts Foundation and the UNR College of Liberal Arts. The luncheon recognized local businesses and individuals in Greater Reno-Sparks that have demonstrated exceptional support and engagement with the local arts and culture community. More than 450 local business representatives, government leaders, and individuals in the arts community attended the event.  Here is the press release announcing the winners. Here is the press release.

 

EIN News – Elemental LED Hosts Grand Opening of New Headquarters – Elemental LED, a leading U.S. based engineering and technology company that manufactures LED lighting solutions, held a Grand Opening Celebration on September 18, 2018 to welcome the local community to the new Company Headquarters in Reno, NV. Elemental LED provides a wide variety of superior quality linear, task, and accent LED lighting solutions for all types of applications under the Diode LED product brand. Here is the full story.
The Union – Plenty of reasons why Northern Nevada is a great place to live, work and play. Reno’s proximity to Silicon Valley, combined with its affordable land, low cost of power and lack of state income tax, have drawn some of technology’s largest companies to the region in recent years. Technology and tech entrepreneurship have become flourishing industries in the Truckee Meadows and join historic anchor industries such as gaming, tourism, construction and logistics. Here is the article.
Housing Wire – 2-City housing boom hits Nevada – In the past five years, the Reno-Sparks MSA has benefited from a successful campaign to attract tech to the region. The latest VeroFORECAST from Veros Real Estate Solutions predicts that real estate in the MSA will appreciate at a rate of 9.5% over the next year, ranking it sixth out of the 354 MSAs included in the report.  The region is the site of the Tesla Gigafactory, with more to come from Blockchains, Google, Jet.com, and Switch.  Here is the story.
Mercury News – Is a Reno Relocation in your future – For people who live and breathe all that Reno-Sparks Metropolitan area has to offer, Nevada’s significant tax benefits for residents and businesses are simply icing on the cake. Couples, families, retirees, and businesses relocate to Reno for much more than the absence of personal income taxes, corporate taxes or an inventory benefit. Here is the fully story.

 

Yes, our apartment rents are high at $1,253 a month on average but still well off the national average of $1,412 according to the recent RENTCafe Apartment Market Report.  Fewer than expected apartment deliveries this year are increasing competition among existing apartments, pushing up the national average rent by another 3.1% year over year. While we have one of the fastest growing rents in the country, we are still just 1/3rd of the average rents paid in San Francisco. (See Report Here)

The EPIC Report with actual numbers updated. RCG Economics has updated the chart using the most recent census numbers with seasonal adjustments.  While very close to projections, given the anticipated growth this year, we expect to exceed the projections by the end of this year.  Actual numbers graphs.

Here is the latest RGJ article:

 

Time to Protect Our Community – WC1 – On the first anniversary of Hurricane Harvey, which caused more than $125B in damage and resulted in the loss of 88 lives, 85% of Houston area voters backed the issuance of $2.5B in bonds that will fund critical flood-control projects. Why did they wait until this latest catastrophe to address their critical flood-control needs when their region has a history of catastrophic flooding? I guess that is the same question we will be asking ourselves if we do not pass WC-1 this November.   Here is the full article.
EDAWN articles, published in the RGJ, are stored on our website. Here is the link to the library.

Business Development Updates

The Business Development team announced two new companies and corporate headquarters relocating to Reno.
  • SendCutSend (HQ), titanium aircraft parts manufacturer, 25 jobs, Reno
  • “Confidential” (HQ), battery distributor, 53 jobs, Reno
The New Deantronics press conference was held on September 25th. Jane Liu, CEO, New Deantronics, revealed details of a new $40 million medical device technology campus and 200 jobs. Here is the Press Release. 
The Business Development team hosted 10 site visits in September, including several technology-related and advanced manufacturing companies that are evaluating a move to Nevada and 20 new leads and projects were added to the pipeline.
Stan Thomas attended the Industrial Asset Management Council in Philadelphia to meet with 29 site consultants. IAMC is the leading association of industrial asset management and corporate real estate executives, suppliers, service providers, and economic developers.
To contact the Business Development team, please email EVP, Stan Thomas, VP, Chris Ault, Jr. or Program Manager, Norma Yamaji

Partner Updates

Join Awaken’s 7th Annual Banquet & Silent Auction on Saturday, Nov. 3, at the Peppermill Resort & Spa, Tuscany Ballroom from 5-9pm.  If you have attended in prior years, welcome back!  If this is your first time, they would be pleased to have you join them and hope your heart is moved by your experience at the banquet! Go here for more information or to purchase tickets.

 

Attention employers looking for talent with Mechatronics certifications! WNC just awarded eight students a Seimen’s Mechatronics Level 1 Certificate. For more information or to learn more about WNC’s Applied Industrial Technology and Mechatronics Program, go here.
 
 
The cost for higher education influences student’s enrollment, persistence and completion decisions, and those who are awarded financial aid have a much higher likelihood of attending College or a University. On October 1st, Truckee Meadows Community College kicked off the FAFSA (Free Application for Federal Student Aid) Completion Challenge to encourage students to take advantage of this opportunity to qualify for financial support. Whether you are a student, parent, or friend of a young adult, you may want to look into this great program! For more information, go here.
The Stat Pack is a monthly business e-report, co-authored by Mike PeQueen of HighTower Las Vegas and John Restrepo of RCG Economics, with input from Brian Bonnefant of UNR. It combines important metrics relevant to business decision makers and financial commentary on current issues facing the Nevada economy. The Stat Pack features data and dialogue about the Southern and Northern Nevada economies.  Here is latest Fact Pack!

Major Investor of the Week

Elemental LED, a leading U.S. based engineering and  technology company, is the largest provider of low-voltage linear LED lighting solutions in North America.

EDAWN Events

Don’t miss out! Register now for the 7th Annual EDAWN Existing Industry Awards, to be held on Thursday, October 18, 2018, at the Grand Sierra Resort. Give your support to the many existing companies that provide employment to thousands of Nevadans and contribute significantly to our region’s economic vitality. Join us to show your appreciation for the existing employers in Northern Nevada.
Thank you to our Title Sponsor:
Thank you to our EIA Sponsors:
Food Sponsor: Plumas Bank
Beverage Sponsor: Brycon Corporation
Award Sponsor: Stark & Associates
Program Guide Sponsor: CliftonLarsonAllen LLP
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SAVE THE DATE!
 
“EDAWN’s State of the Economy – Economic Update Luncheon”
Thursday, February 7, 2019
Atlantis Casino Resort
11:30 am – 1:30 pm
Invitations will be emailed as the event nears
 

To view  

EDAWN’s 2018 list of events, go here. For more information, please contact Sheila Imsdahl or call 775.829.3704.
2018-11-27T13:42:05+00:00