CEO & Business Development Updates – November 2018
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 (around $30 a year for the average home) 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.
Congratulations to the Existing Industry Awards Winners – Recognized at the annual event on October 18th. “The existing primary companies in Northern Nevada make up the backbone of our regional economy. They are responsible for approximately 50 percent of our jobs,” said Mike Kazmierski, CEO of EDAWN. “This event provides an opportunity to the community to thank these companies and let them know we truly appreciate their investment, commitment to the region and their many contributions to our economic vitality.” Here is the list of 2018 winners in EDAWN’s Existing Industry Awards.
Congratulations to the Presidential Award Winner for 2018. The Tahoe-Pyramid Trail Board, and Janet Phillips, Board President, for their tireless efforts over the past 16 years to connect Lake Tahoe and Pyramid Lake by a trail. Janet, the Board and many volunteers and supporters have worked to link existing trails, paths and roads to realize their vision of 114 miles of trails connecting the two lakes. The Tahoe-Pyramid trail between Tahoe and Reno is essentially complete, while sections from Reno to Pyramid Lake are awaiting funding and easements. View the trail from Tahoe to Reno – Here is the video
Thanks to Sparks Councilmember Ed Lawson for setting the record straight on SJR 14. While SJR 14, is not even on the ballot this year, we are already hearing misleading, scare tactics of some candidates, claiming it will double or triple your property taxes. As Council Member, Ed Lawson, said in his editorial, “SJR 14 is designed to remove property tax inequities. It would merely “reset” accumulated depreciation and abatement back to zero upon the purchase of an existing home, thus ensuring the property taxes are the same as if the house was newly built. SJR 14 will not raise your property taxes if you remain in your current home.” See the editorial Here / Actual Legislation here.
Congratulations to TMCC and the Abbi Agency for their Gold Medallion in the Print and Advertising from the National Council for Marketing and Public Relations for their “TMCC Pays Off” ad campaign. In an effort to highlight incredible training and educational opportunities available for community members through TMCC, the College partnered with the Abbi Agency to develop a fun, edgy and informative ad campaign that featured many career and technical programs offered by the College. These programs represent a great investment for any local resident looking to gain or upgrade skills, which undoubtedly pays off.
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.
Housing remains a concern: The chart below shows the number of permits for new housing units (including apartments and condos) pulled in the past few years, compared to the goal of 6,000 per year. Note that 12 years ago, in 2005, we were over 6,700 permits. The 6,000 units a year goal just meets the projected demand for housing, so as of September, we are well off the goal.
Here is the latest RGJ article:
A Pause in Our Housing Crisis – As a region, we were slow to prepare for the ongoing growth over the past several years which caused housing prices to more than double and rents to increase by almost 50% in just three years. It is merely a supply and demand issue. Fortunately, we may have a short reprieve, according to Brian Bonnenfant, at the UNR Center for Regional Studies, we added 2,214 new apartments and 1,866 new single-family homes this yearly and expect to hit 6,000 new units for the first time in more than a decade. Additionally, 4,194 multifamily housing units are under construction, with 700 of these priced for low-income households. So, for now, there is a pause in the crisis. 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 closed 4 new companies (3 headquarters) and added 330 jobs in October.
Fox Racing, Distribution, from CA to Spanish Springs (WC), 60 jobs
Aqua Metals, HQ from CA to McCarran, 50 jobs
Undisclosed, Technology HQ: to be announced at Major Investor Luncheon, Nov 8
Undisclosed, Technology, HQ: to be announced at Press Conference, Nov. 27, Peppermill Tuscany Ballroom F, 11:00am
The Business Development team had 23 new leads and projects added to the activity pipeline and 11 site visits were hosted.
Save the Date: December 6th for the 2018 New and Expanded Companies Welcome Reception, 5:30pm Peppermill Resort Spa Casino, Tuscany Ballroom. Registration opens soon. 29 companies will be honored at this event.
Blockchain Basics Certificate Program introduced at UNR – Extended Studies at the University of Nevada, Reno added The Blockchain Basics Certificate Program which will demystify blockchain and distributed ledger technology, and provide an overview of the ways the technology is changing businesses in all sectors. The class sessions take place from 1-5 p.m. Jan. 22-23 and 29-30, 2019, at the University of Nevada, Reno Redfield Campus. The non-academic credit program does not require admission to the University. For more information, go to www.extendedstudies.unr.edu or email Shera Alberti-Annunzio.
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
Community Ventures|RE – Community Ventures|RE was founded by a seasoned group of real estate and technology veterans with the fundamental goal of leading a profound paradigm shift in commercial real estate, where advanced technology and using the power of business to do good, join with dedication, market knowledge, connectivity and expertise, to empower our clients and the communities we work.Community Ventures|RE is a B Corp Commercial Real Estate Brokerage.
Join us as we welcome 30 companies who have chosen to locate or expand in the Greater Reno-Sparks region in 2018! 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.