LAS VEGAS (FOX5) -- The Las Vegas Valley and Silver State are seeing a different kind of business boom as countless companies are relocating to Nevada.
The trend follows the migration of people relocating from California and other nearby states during the pandemic, seeking more affordable real estate, fewer pandemic restrictions and quality of life factors.
Companies are seeking "bang for their buck" with low taxes and overhead costs, as well as business-friendly laws and courts.
"There's excitement on the street in terms of businesses coming here," said UNLV Professor Stephen Miller, director of the Center for Business and Economic Research.
Miller describes the recent moves as pent-up demand that brewed prior to the pandemic, but facing hurdles in 2020.
"Businesses in Nevada are subject to less paperwork, lower costs, access to labor and the location. It's easy to access West Coast ports," Miller said, noting trends in manufacturing, technology and medicine.
The Governor's Office of Economic Development said since spring reopenings, there has been a high uptick from corporations seeking incentives to move to the Silver State. The Las Vegas Global Economic Alliance also said there has been increased interest in Southern Nevada in recent months.
Representatives with both agencies said it has been difficult for state officials to quantify: How many businesses have picked up and moved here, without government help?
"They want to move to Nevada because it's a better place for their business. There are a bunch of people moving here without seeking help from the state," Miller said.
One business that sought to reincorporate in Nevada is TransPerfect. The company established an office of 20 people in Las Vegas, seeking what they describe as business-friendly environment, from laws, courts to taxes.
"When more businesses come back to having meetings and conventions, the kind of things good for Las Vegas business is good for our business," said CEO Phil Shawe, who said he had no problem asking workers to relocate from major cities.
Transperfect helps bridge the language divide in cross-continental corporate meetings with live remote translations. The company looks forward to capitalizing on the return of conventions with global visitors, such as the Consumer Electronics Show.