Dec. 16, 2011
ECONOMIC DIVERSIFICATION IS THE KEY
FOR SOUTHERN NEVADA TO AVOID ANOTHER
RECESSION, ALL BUSINESS LEADERS SAY
(Please read our previous blogs on diversification)
Economic growth has too long been focused on
gaming and construction, two industries that prove
to be the most vulnerable during the downturn
said the Governor's Office of Economic Development.
"What about defense and aerospace industries and the
health care industry?" The Nevada Development Authority
(NDA) can't do it all -- we need people deeply involved in
these industries for creative input.
It's not just knocking on doors. It's being able to see the
opportunities in the state and articulate to existing
companies that can capitalize on it."
"It's not about tearing down, but to look at what works
and build on it." The NDA is a good platform, clearly
bringing in new businesses."
Part of this took place in the recent legislature related
to economic development. Assembly bill 449, passed in
June, creates a "catalyst fund" with ten million in funds
from the state's unclaimed property.
The money will foster expansion of existing businesses
and to attract targeted industries to Nevada.