The Greater Reno-Sparks-Tahoe area is one of the fastest growing regions in the U.S. and is rated among the top MSA’s in a recent Milken Institute report. The Economic Development Authority of Western Nevada (EDAWN) mission is directed toward strengthening our community by attracting companies and in many cases, their corporate headquarters from diverse industry sectors. Our new economy is in part powered by a growing number of technology-related and advanced manufacturing companies to the region. Many of the homegrown (start-ups) are also in large part technology-related and our efforts to develop and grow this ecosystem is another key strategy to diversifying the economy.
Technology is an important element underlying all emerging and future industries; creating new opportunities for jobs, business and the economy. The Milken Report (2019) ranked Reno, Nevada #11 Best Performing Cities and the Reno area experienced the highest job growth from the 50 metros that were measured. Tech industry giants like Tesla, Google, Apple, Switch, and Microsoft now call the Greater Reno-Sparks-Tahoe their home. Tech-related companies from Northern California like rfxcel, Alchemy, and Figure Technologies landed here in recent years and have continued to grow and thrive.
Featured Tech Companies
The manufacturing industry is significant to the Greater Reno-Sparks-Tahoe region’s economic growth in recent years. From available and affordable industrial space, lower workman’s comp costs, right-to-work laws, and a central location in the Western U.S. markets, this is an ideal place to grow your business. The New Industrial Revolution is clearly changing manufacturing in a big way and the impact of technology used in advanced manufacturing applications is rapidly effecting operations, processes, product development, and sources of energy.
Distribution, Logistics and E-Commerce
With an expansive network of transportation services, warehousing, and fulfillment outsourcing, businesses large and small have established themselves in Greater Reno-Sparks-Tahoe to take advantage of these services and gain quick, affordable access to the 11 western states that include over 60 million customers reachable in one day’s truck drive. With multiple air cargo options from Reno-Tahoe International Airport provide daily service and handles more than 140 million pounds annually of air cargo. Two of the largest railroads (Union Pacific and Burlington Northern Santa Fe) provide an international gateway to Mexico and Canada. Reno-Sparks-Tahoe is home to ITS Logistics, OnTrac, UPS, NOW Foods, Urban Outfitters, Amazon, Thrive Market, Petco, Polaris, Zazzle, and Zulily.
Back Office, Office Support
Back office operations provides critical and essential functions in every company. Data processing, accounting, payroll, human resources, IT services, regulatory compliance, and cyber-security are just a few of these functions and centered around optimizing processes, improve efficiencies, reducing costs and mitigating potential areas of risk. Intuit, Alchemy/Workday and Think Stack are just a few of the back office companies located here in the Reno-Sparks-Tahoe area.
Renewable energy is an important and integral part of the energy industry in Nevada. Mainstream energy companies in Nevada utilize geothermal, solar, biofuels, wind, and hydropower. Ormat, a recognized leader in geothermal energy and Fulcrum Sierra Biofuels which is building a facility in Storey County that will generate transportation fuel from MSW are located in Northern Nevada. The growth of electric-powered vehicles and mobile phones has spurred the lithium (li-ion) battery advancements for energy storage and continues to move at a rapid pace. Panasonic and Dragonfly Energy, manufacturers and of li-ion battery technology are located here in the Reno-Sparks-Tahoe area.
Financial services and transactions have evolved dramatically to look nothing like the traditional “brick and mortar” banks or loan office services of past generations. Innovations in mobile banking, artificial intelligence (AI) and blockchain are transforming the financial services sector. Financial technology “fintech” refers to technology employed at the back-end system of institutions and many recent online financial services are disrupting how finances, real estate valuations, loans and more are conducted. Clear Capital, Figure Technologies, Uplift and Red Dot Management are just a few of the fintech companies in the Reno-Sparks-Tahoe region.
Aerospace and Defense
The aerospace and defense industry in Northern Nevada is home to a number of private and public sector businesses at the leading edge of research and technology, including almost 70 years in aerospace flight testing. Projects like “Dream Chaser®” and the “International Space Station” have significant ties to our region through research by Sierra Nevada Corporation. Nevada was chosen in 2014 by the Federal Aviation Administration as a national test site for unmanned autonomous systems (UAS) and is conducting research vital to safe and efficient integration of UAS into the U.S. aviation system. The state also has a long history of research and development technologies for defense applications and is home to Air Force, Army, Navy, and National Guard stations. Companies like Aerion, Sierra Nevada Corporation, Flirtey, Drone America, Aerospec NDT, Iris Automation and Tactical Air Support are all located here in the Northern Nevada.
Health and Medical
The health and medical industries include a wide range of medical related goods and services, a new generation of patient care delivery, and pharmaceutical testing. These industries are undergoing incredible expansion and is closely connected to technology and biotechnology development. Companies such as Charles River Laboratories which is dedicated to developing safe and effective drug therapies and newcomers like Grand Rounds, MOBE, DayaMed and Presidio Medical are located here in the Greater Reno-Tahoe-Sparks.