The Las Vegas Metropolitan area is growing rapidly, but it’s not just the population that’s booming.
According to an economic research agency, Nevada is the fastest job producing state in the country. That information was released in-part at Tuesday’s State of Economy Development gathering hosted by the Las Vegas Global Economic Alliance.
The group's CEO Jonas Peterson said the Valley’s population growth is supported by job growth, but there are still things to consider for that growth to continue.
“Our economy is not only getting bigger, but stronger and more diverse,” Peterson said.
According to Peterson, it’s a unique time for the Southern Nevada community.
“We’ve got new industries forming like sports,” Peterson said. “For instance, professional sports, the Raiders, the Golden Knights, this community is transforming in many ways not least of which is job creation.”
However, Peterson said Education and Healthcare services are leading the charge for job growth.
“We’re now at an all-time high for employment,” Peterson said. “In fact, for 19-months we’ve been higher, with total employment than we were at the pre-recession peak.”
According to the LVGEA’s community map, there are about 60 planned projects and 35 and under construction, which proves jobs are coming to the area.
“Nevada right now is the fastest job producing state in the country,” Peterson said. “The great news is that if Nevada stays the course, there is a chance to pull away from other states.”
The LVGEA identified factors to help keep the momentum up.
“If we’re going to unlock the value of more jobs moving forward,” Peterson said. “One of those strategies needs to be a renewed interest on transportation mobility, things like a rail connecting employment centers, connecting our market to other major metro areas.”
Peterson said high-value companies list the single most important factor in where they locate their company as the presence of a skilled workforce. He said the Las Vegas Metropolitan area needs to stay focused on educating skilled laborer’s and closing any workforce and skill set gaps.
"We believe that the workforce in Southern Nevada is incredibly underrated and misunderstood,” Peterson said. “If you look at the scope of the data, you find a workforce that is highly productive, that is diverse, that speaks the language of business, that operates on a 24/7 hour basis that is still affordable."
He said although there is a lot of good news about the current workforce, it’s an opportunity to continue to grow through job training and working towards a more educated population.
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