[EDAWN Column for the Reno Gazette-Journal for Sunday, February 13, 2011]
A frequent question in conversations concerning economic development efforts is, “What does this community want to be when it grows up?” Nearly 50 leaders from various organizations around the Greater Reno-Tahoe region spent nearly a year creating this vision: “By building on its high quality of life and targeting specific industries, Northern Nevada will be a vibrant economy of community-oriented businesses and entrepreneurs that provide high-impact opportunities and further prosperity for the region’s citizens and communities.” That was October 2006. In the four-plus years since, parts of that vision have materialized, but much is left to be done in a far different economic climate.
Companies that we have been working with for months, and even years, to relocate or expand their operations are finally beginning to get active with clear signals pointing to increased growth in the near to mid-term. The prospects are a mix of existing local companies, businesses looking to relocate from elsewhere, and others that will add operations here in Greater Reno-Tahoe. The relative quiet of the past few years, due largely to the uncertainty of the Great Recession, seems to be subsiding. Increased business activity and interest is coming from a combination of new efforts and projects many of us in Reno-Tahoe economic circles have been nurturing and working for months or years. Economic development is very much like incubation which is defined in chemistry terms as, “A period of little reaction which is followed by more rapid reaction.”
During the last few years all of us involved in economic development have continued to invest time and resources into the important relationships and efforts that will bring sustainable results to our economy. The effort has continued, though the results have been sluggish and frustrating. This has been a definite period of “little reaction” with a soon-to-be-realized period of rapid reaction. Solid results will come from sustained efforts by all of the partners in economic development. As for the Target2010 economic development strategic plan, community leaders are revisiting and updating that economic roadmap in March and will report back on what’s worked and what important action steps are needed to achieve sustainable economic health. We must continue to see our community as an incubator for the quality of life we seek.
The geothermal industry in Nevada is a great example of a 30-year-old effort that is beginning to pay dividends. Seeds we lay now from such efforts as the Governor’s and legislature’s plans for economic development, ideas from the Reno Gazette-Journal/University of Nevada Small Business Development Center’s Reno 2020 project, the Lt. Governor’s New Nevada Task Force, the USTAR (Utah Science Technology and Research) concept, and more on an Innovative Growth Initiative from the Economic Development Authority of Western Nevada and key regional partners, combined with community-wide economic diversification efforts since 1982, will continue to restore and build our economy. If we are committed and have the will to act as one – as Chris Ault and the Nevada football team has shown – great things will happen and last.
Chuck Alvey, CEcD, is President and Chief Executive Officer of EDAWN
The Economic Development Authority of Western Nevada
