Leaders from the State of the Economy Forum spoke on the business growth we're seeing in the region on Thursday, touching on several developing industries.
EDAWN-assisted companies are generating over 1,200 new jobs with record wages, a strong indicator of business confidence and greater opportunities.Â
Industry experts say dozens of companies have either expanded or relocated to northern Nevada, creating hundreds of jobs and millions in capital investment.
Taylor Adams, EDAWN CEO shares, "the average value of a job that we were able to induce last year, was almost $77,000, which means, that we're growing the economy with jobs that allow people to live here and have great quality of life, and so we're really excited about the future of the northern Nevada economy."
Leaders describe overall economic health as strong and growing.
Northern Nevada is seeing a diversified business base, particularly in advanced manufacturing, tech, logistics, and exports.
Brian Gordon, principal of Applied Analysis adds, "yeah look, consumers are getting squeezed, there's no doubt about it. The median household income is around $93,000 in Reno and so it's a decent income, it's just the cost of living. It's expensive in some areas, in particular housing, but I think a lot of residents are making it work these days, it's tougher on the younger end of the demographic spectrum but none the less, this economy continues to grow."
Fourth year attendee Jill Lyons, Branch Manager of CGM Home Loans, says, "Being that I'm newer to Nevada, there is so much information that is shared in this meeting, and it's so exciting to see how much growth that Reno has had, and specifically with businesses coming here, and being that I'm in mortgage lending and having clients that want to move from another state."
Northern Nevada is benefiting from growth in data centers and tech infrastructure.
Big companies are expanding cloud and digital operations in the region as well, and the local economy has diversified beyond tourism and hospitality.
