CEO & Business Development Update | November 2017

CEO

Congratulations to SWITCH!

We are excited to see one of our local Nevada based companies go public. Rob Roy and the SWITCH Team rang the opening bell at the New York Stock Exchange recently. Switch uses clean and renewable energy to power data centers. Amazon, eBay and PayPal are on the company’s roster of clients. They are building the largest data center in the world at the Tahoe-Reno Industrial Center. Here is the full story.

Congratulations to WCSD for achieving an 84% graduation rate.

The national average is 83% so let’s stop apologizing for our education system, a reputation that is largely based on state data and often lagging or old information. Our District has worked very hard to achieve this success so let’s recognize their efforts and acknowledge their success. We may still have ways to go but we are moving in the right direction. Here is the full article.

What’s going on with the Reno Downtown?

It is exciting to see the progress being made by the City with help from the Progressive Urban Management Associates (PUMA). The PUMA Report includes an Action Plan that highlights numerous projects identified in previous planning efforts, as well as many new ideas, including a proposal for an organization that would play an important advocacy and support role. This Downtown Management Organization will take on many of the issues associated with the downtown and could be up and running by next summer. Stay tuned and for more information, go here.

Join us in welcoming 29 companies at the “New & Expanded Companies Welcome Reception”

Thursday, December 7, 2017 at the Peppermill Resort Spa Casino, Tuscany Ballroom 5:00 pm: Check-In, program starts promptly at 5:30. Let’s welcome the companies who have chosen to locate or expand in the region in 2017! See the full invite below. Register Here.

The EPIC Report with actual numbers updated.

Now approaching three years into the five year projections of over 52,400 new jobs, we are almost 10,000 jobs ahead of projections as Tesla, Panasonic and Switch continue to ramp up their hiring efforts. In case you missed it, here are the Actual numbers graphs.

Housing continues to be a concern, but it looks like we are making progress:

The chart below shows the number of permits for new housings units (including apartments and condos) pulled so far this year, compared to last year and compared to what is a goal of 6,000 per year, the number we were at before the recession. Permits pulled is the only way to track the progress on a monthly basis. At, 6,000 units a year, we will be meeting the expected demand for housing based on current and projected job growth. We have not had more than 4,000 housing starts since 2006!

Here is the latest RGJ article: Community in Transition

It looks like Reno-Sparks is growing up. Growing from the “Biggest Little City” into a city with big city and regional challenges that will require us to do things differently. As a region we are different now, with our diversified economy, rapid job growth and many challenges associated with this development. So in this transition to adulthood, what should we be doing to keep us on the path to becoming that next great city and one of the more attractive regions in the country to live, work and play? Here is the full article.

Prior EDAWN articles, published in the RGJ, are stored on our website. Here is the link to the library.

Help!! Taxi-Tops are still available!

We need your help to clean up our taxi-tops so please consider adding taxi-top advertising to your marketing plan now and in the years ahead. We have 25 taxi-tops available and if we cannot keep the taxi-tops filled with family friendly messages, they will revert to those that are less reflective of the “new” Reno-Sparks. Just $1,000 for the entire year! Contact Tamera Pitts at 775.829.3700 or email pitts@edawn.org.

Business Development

The Business Development team announced 4 new companies in October and the addition of 594 jobs.

17 new leads and projects were added to the activity pipeline.

– Broker Genius, technology, 10 jobs, from NY to Reno

– Mainfreight, logistics/distribution, 9 jobs, from CA to Reno

– PODS, sales & service, 500 jobs, from FL to Reno

– Big Rock Sports, distribution, 75 jobs from FL to Reno

Stan Thomas attended the IAMC in Richmond, VA and met with 21 site consultants.

A total of 24 site consultant meetings were held during the month.

Partners

Calling all Veterans interested in pursuing a college education!

The Truckee Meadows Community College Veterans Upward Bound (VUB) program will host an information session especially geared to military veterans who are interested in pursuing a college education. This event will be held Thursday, Nov. 16, 5:30-6:30 pm at the TMCC Meadowood Center, 5270 Neil Road, Suite 303, in Reno. Veterans Upward Bound is a pre-college program funded by the U.S. Department of Education. For more information, please see the attached media release.

Congratulations to UNR for being selected as a finalist for a University Economic Development Association (UEDA) award for Innovation Ecosystems.

The University of Nevada, Reno’s Innovation Ecosystem was among the leading initiatives from across the country recognized during its recent Annual Summit in Long Beach, California. Together, The Innevation Center University of Nevada, Reno, powered by Switch and the Nevada Center for Applied Research, have helped spur the creation of 102 jobs, eight venture-funded startups and six faculty/student spin-out companies over the past 18 months.

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 last Friday’s Fact Pack!

Interested in exporting but need some financial assistance?

The Nevada Governor’s Office of Economic Development (GOED) has been awarded $125,000 as part of the State Trade Expansion Program administered by the U.S. Small Business Administration. The purpose of the award is to assist Nevada Eligible Small Business Concerns (ESBCs) defray in part the costs of participation in approved export sales activities. Interested ESBCs may compete for a Financial Assistance Award through GOED by completing and submitting an application. For more information, see the attached.

The Innevation Center University of Nevada, Reno is currently hosting three carefully selected, promising young companies for a seven-week program aimed to bring innovative ideas to the marketplace faster.

This inaugural InNEVator 2017 is centered around companies working within the Internet of Things (IoT) space or building networks to interconnect various computing devices. The program is drawing to a close on November 17th. To celebrate, they will be having an InNEVator 2017 Dinner with a special presentation by Silicon Valley Business Leader Mike Nuttall and pitches by the InNEVator 2017 Cohort. RSVP Rosanne Catron at rvcatron@unr.edu by November 8th.

Major Investor of the Week

Kidder Mathews – Founded over 40 years ago, Kidder Mathews has grown to become the leading independent commercial real estate firm on the West Coast. With over 550 professionals and employees in 14 offices throughout Arizona, California, Nevada, Oregon, and Washington, they are actively involved in the cities and communities they serve.

EDAWN Events

Join us as we welcome 29 companies who have chosen to locate or expand in the Greater Reno-Sparks region in 2017! This special reception is your opportunity to celebrate quality job creation and recognize the many outstanding companies which are the backbone of our regional economy.

EDAWN’s “New & Expanded Companies

Welcome Reception”

Thursday, December 7, 2017

Peppermill Resort Spa Casino, Tuscany Ballroom
5:00 pm: Check-In

5:30 pm: Program (begins promptly at 5:30)

6:15 – 7:30 pm: Networking Reception

Register Here!

Thank you to our Title Sponsors: