Fair and Warmer: Breezes Bring Business Relocations to Nevada

In fiscal year 2011, the Nevada Commission on Economic Development (NCED) facilitated a steady stream of new business projects resulting in $134 million in capital investment and the creation of 728 new jobs for Nevadans.  Qualifying and working with 36 companies or prospects, the state landed 15 projects.
The Business Development division saw an exceptional closure rate of 42 percent.  To put the rate into perspective—it means businesses are investing in Nevada at a rate of 1.25 per month at a time when businesses are “disinvesting” in other states at rates up to 5.6 per month.

Who is investing in Nevada?  The state is experiencing new business and expansion investments from notable companies such as Urban Outfitters, Zappos.com, Toys R Us, GSI Commerce and Ameriprize Financial.  The state is seeing the new business activity clustering around major food manufacturers, industrial technology manufacturers and product distribution centers.

At any given time, the Business Development division is working with more than 100 active leads—about 12 per month.  These leads generally include researching and developing a response to a formal “request for information” from a company or a site selector.

Relocations and expansions don’t happen with just one phone call, but a key-decision maker’s call to explore business options in Nevada is a good start.  Throughout last fiscal year, NCED’s Business Development division provided counsel and assistance to 580 callers—roughly about 10 calls a week.

Not all of the incoming calls are related to relocating or expanding business, which is when the Business Development staff’s business resource counseling skills kick in to overdrive.  They know the go-to people within the various state agencies to answer questions and resolve issues from taxation to business formation.  Other calls regarding starting a business, business plans and finance are forwarded to the Nevada Small Business Development Centers for in depth counseling.