2020 Northern Nevada Business Growth and Beyond

Northern Nevada has been in a business boom for several years. In the past several months in particular there have been headlines popping up across the region.

Not only are the big-name tech companies staking their claim in the Reno-Tahoe region, but many other business people are choosing to relocate because it’s a great place to retire and an even greater place to raise a family. The economic development opportunities have never been better.

The Economic Development Authority of Western Nevada released their EPIC report in late January 2019 with the following projected growth:

  • Population across Washoe, Storey, Douglas, Lyon and Carson City counties will increase by 8.6 percent by 2023.
  • Employment is expected to rise by 12.7 percent, while households are projected to grow by 8.8 percent by 2023.
  • All told, by the end of the 2023, the region’s population, employment and households will grow by 54,470 persons, 51,585 jobs and 22,559 households.

Northern Nevada isn’t the only region experiencing this growth, but the entire state of Nevada has produced some interesting statistics. The U.S. Census Bureau released updated migration estimates in November 2019.

In the timeframe of July 2017 to July 2018, the data confirmed that Nevada is the fastest-growing state in the nation when it comes to employment and population.

Below are some of the highlights from the data:

  • Roughly 127,000 people moved to Nevada from other states, and another 14,000 moved to the Silver State from international countries.
  • Of those 127,000 American residents, nearly 40 percent — 50,707 in fact — moved here from California.
  • Utah (7,133 people) was next in line, followed by Arizona (6,999), Washington state (6,231), Texas (5,129) and Florida (4,018).
  • Meanwhile, 22,400 Nevada residents moved to California, which amounts to about 10,000 fewer people than in 2009.

So what does this all mean?

Thousands upon thousands of people are moving to Nevada.

Primarily to our northern half of the state an this means that business is BOOMING.

The Northern Nevada Business View reached out to the 2020 Book of List’s top advertising partners and sponsors to ask them:

With 2020 ushering in a new decade, what opportunities for growth do you see when it comes to the overall business community in Northern Nevada — and where do you see the most growth potential in your industry for the next decade?

Click here to read all of their answers.

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Realtor® Sierra Nevada Properties

http://nealfincher.com/

https://www.snphomes.com/

 

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