Nevada Leads the Nation in Export Adaptability and Growth

Two recent independent reports, Ball State University’s “U.S. Export Adaptability at the State Level” and the U.S. Chamber of Commerce’s “Enterprising States” place Nevada at the front of the pack when it comes to exporting.

As the domestic economy emerges from the recession, Nevada’s companies are recognizing that expansion and recovery lie in selling to foreign markets.  As a result, Nevada’s companies are leading the nation in adapting their product exports to the changing pattern of international demand.  This ability to adapt products to new markets has placed Nevada first in the nation in export growth and in export intensity.

In the first quarter of 2011, Nevada’s exports increased 17 percent as compared to the same period in 2010.  This 17 percent increase in exports translates into 1,740 jobs for Nevadans.

According to the U.S. Department of Commerce’s International Trade Administration, for every billion dollars of exports 5,000 jobs are supported.  Since 2005, Nevada’s export activities have supported an estimated 34,115 jobs annually.  Additionally, foreign direct investments support 37,300 jobs in Nevada as stated by the Bureau of Economic Analysis.

Nevada has been a national leader in export growth over the past decade, and remains strong in the U.S. Chamber of Commerce’s rankings.  In addition to the state’s exports, the report ranked Nevada among the top five in STEM job growth, business birth rate, job placement efficiency and entrepreneurial activity.  The state placed 9th in long-term job growth, gross state product growth and growth in share of national exports.

The two reports referenced, Nevada export trend charts and profiles on Nevada’s exporters and foreign direct investors (by county and legislative district) are available on the Nevada Commission on Economic Development’s website at www.diversifynevada.com