The ECONOMIC PULSE MAY 2017

Forbes and Gallup Rank Nevada #1 for Job Creation, Economic Opportunity

In two separate rankings, Nevada scored at the top in the nation for what can only be described as a historic States With Highest Job economic recovery since the pit of the Great Recession. Creation Index Scores, 2016 In its inaugural American Dream Index, Forbes Nevada +40 looked at how each state ranked in providing the middle class with the best access to the Utah +38 American Dream, and Nevada scored the best Georgia +37 overall. Nevada’s score was based on big gains in +37 goods-producing jobs, and for those of you who read The Economic Pulse, you know some of the names of +36 the manufacturing companies that have either decided South Carolina +36 to locate new operations in Nevada or expand existing Washington +36 operations in our state just in the last few years. Wisconsin +35 In addition to the Forbes ranking, Gallup reported +34 earlier this year that Nevada climbed from last place to first place in job creation. Over the past six California +34 years, the State has steadily ascended from 50th place Florida +34 to 1st place. Gallup notes that, “Nevada’s score of +40 Indiana +34 marks the seventh straight year that the state’s workers have reported an improved job market. The state’s -13 Maryland +34 score in 2009, when it was reeling from the housing Massachusetts +34 market collapse and severe cutbacks in tourism, ties with +34 Michigan’s score the same year as the lowest for any state in the index’s nine-year history.” Source: Gallup Daily, January-December 2016

Story continued on next page » » Forbes and Gallup Rank State #1 for Incredible Economic Recovery (cont.)

In fact, GOED’s Research Director, Bob Potts, recently reported to the GOED Board that our targeted industry of ‘Manufacturing’ currently employs 42,700 Nevadans and pays an average annual wage of $55,000. This is quite remarkable considering Nevada’s manufacturing sector is relatively small, but it is the fastest-growing assisted economic development sector with about 45% of incented companies identifying with this industry. Further, with Tesla and Faraday Future, the State is carving a larger Nevada climbed from last place niche in the advanced manufacturing marketplace, which to first place in job creation. drives higher wages and skills statewide.

Nevada’s economic recovery has been spoken about a lot in the last couple of years, but these two rankings put some significant data behind the State’s score. While work remains to be done, the economic successes to date can be attributed to job creators who weathered the worst days, a Governor who made economic development his top priority, a Legislature that supported economic development, Regional Development Authorities, and governments and elected officials on all levels who joined together to bring Nevada from the bottom to the top.

Read more about Forbes American Dream Index: https://www.forbes.com/sites/kurtbadenhausen/ 2017/03/29/the-american-dream-index-behind-the-numbers/#4f73915f469b

Gallup’s Job Creation Index can be found here: http://www.gallup.com/poll/203078/nevada-climbs-last- place-first-job-creation.aspx?g_source=Economy&g_medium=lead&g_campaign=tiles

2 STEM Industry-Leading Companies Partner with PTAC on Small Biz Event

On June 1, the Nevada Procurement and Technical Assistance Center (PTAC) will be joined by STEM-leading companies including NASA and Boeing to host a contracting event for Nevada small businesses.

Held at the College of Southern Nevada - North Las Vegas campus, the “Fostering Nevada Small Business Innovation for Mission Success” event will feature representatives and speakers from government, industry, and academia. As part of the planned agenda, there will be an innovation-related talk and separate panel discussion. Doing Business with NASA will be a featured part of the event as will Small Business Innovation Research and Small Business Technology Transfer Contract Opportunities. Other federal government agencies will be represented, as will state and local government agencies and prime contractors. One-on-one business matchmaking is also part of the event’s agenda.

Interested businesses should contact the Nevada PTAC for more information. Email Cynthia Naughton at [email protected].

Governor’s Australia Trade Mission Bringing Water Success

One of Australia’s fastest growing tech companies, RedEye, has announced a strategic partnership with Knowledge Fund project WaterStart following Governor Sandoval’s trade mission to Queensland in late 2016.

As part of the partnership, RedEye has opened its North American headquarters in the State of Nevada and relocated two members of the Queensland team to run the SNWA and LVVWD projects and scale the business. RedEye is already receiving interest from other water and power utilities and plans to grow the Nevada team quickly with a view to create up to eight new jobs in its U.S. operations this year.

Brisbane based RedEye is quickly becoming the leading provider of Cloud and mobile solutions for managing engineering drawings and data in water and power utilities, cities, state and federal governments, mining and resources companies, hospitals, transport providers, and telecommunications networks.

Learn more about what this partnership means for Nevada here: http://waterstart.com/thedrip/2017/4/20/ queensland-scale-up-redeye-launches-north-america-operations-in-nevada-following-state-to- state-innovation-commitment

3 Community FERNLEY Development Block Grant Fernley Corridor Project CDBG Grant Award resulted in planning for revitalization of a Program main corridor in Fernley. Highlights

The Community Development Block Grant (CDBG) Program is GOED’s avenue to facilitate rural community and economic development. The program brings development into deteriorated areas, works to eliminate barriers to private investment, makes strategic investments in projects and properties, and promotes a climate of investment where disinvestment has existed.

The following projects represent five multi-phased CDBG projects:

Fernley Facility Upgrade

CDBG Grant Awards resulted in upgrading a historical building to accommodate additional job training space.

4 FALLON

Fallon Theater

A 2016 CDBG Grant Award resulted in acquiring the historic Fallon Theatre, an anchor for the historic downtown. The theatre is being listed in the National Register of Historic Places and benefits an area in which 1,625 low-to-middle income individuals live by providing a community performance space.

Fallon Food Hub Project

CDBG Grant Award for the Fallon Food Hub Project resulted in selling products of 48 local vendors from 19 farms, the development of a test kitchen incubator for tenants and young entrepreneurs, and employment of four part- time workers. Revenue from this project will fund one full-time and two additional part-time workers.

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5 WELLS

CDBG Grant Awards resulted in geothermal development, a hotel, industrial park development, and the formation of a redevelopment agency to attract business to downtown.

DOUGLAS COUNTY

CDBG Grant Award resulted in Eagle Gas Station Redevelopment Project environmental remediation. There is a pending 2017 application for Phase II of this project, which includes a community center and storm water detention basins.

THE NEVADA SMALL BUSINESS DEVELOPMENT CENTER

CDBG Grants for Economic Development: SBDC Business Counseling & Entrepreneurship Training is available in all rural areas and grant awards (2011-2016) resulted in the assistance of 600 low-to-moderate income individuals, the creation of 109 jobs, the retention of 22 jobs, 72 businesses started, and financing or investment of $1,911,154.

6 Jobs for Veterans: A Nevada Priority

Governor Sandoval has long spoken about his commitment to Nevada’s returning veterans who will be re-entering civilian life from active duty and seeking meaningful employment. Veterans make for extremely qualified employees who, in many cases, simply need to be retrained for a specific job. For this reason, Operation Bravo, a student Veteran internship program, was launched to help veterans reintegrate into the private-sector workforce. Governor Sandoval addresses Nevada Veterans.

Operation Bravo — a joint-veterans’ initiative between GOED, Barrick Gold Corporation, and Great Basin Community College — has been awarded $43,800 through a STEM Workforce Challenge Grant from the Governor’s Office of Science, Innovation, and Technology. The grant will be used to purchase state-of-the-art STEM training and diagnostic equipment that will be used for veteran education and training in the following program areas: natural resources, diesel, nursing, electrical, and instrumentation.

GOED encourages all Nevada companies to be Veteran-friendly.

Learn more: http://www.gbcnv.edu/news/news_article_102.html

GOED Aligning Veterans with Workforce Opportunities

For many of us, when we think of what a member of the armed services is trained to do, many characteristics and talents come to mind, including: quick thinking, adaptable under pressure, technologically-trained, leadership, accountability, intelligence, and thoughtfulness. Sounds like the perfect employee, right? Through an initiative led by GOED’s Research Director, Bob Potts, GOED is helping to ensure employers know about the skill sets of Nevada veterans who are reentering the private sector workforce.

Currently, GOED provides an annual report to the Governor’s Office identifying the job occupations in Nevada and the skill sets veterans possess that match those targeted employment opportunities. This report serves as an important resource for employers looking to hire skilled veterans. Making this information more available and easier to digest has become an important focus for the State, so technology has become the solution.

Late summer of this year, a new web portal will launch for employers to locate veterans who possess the qualities they are looking for in an employee. A searchable, digestible, online resource will help to bridge data with employment for Nevada’s veterans.

7 News

Las Vegas Review Journal: Company Degree Programs Come to Rescue of Nevada’s Skill Gap

The Review Journal recently wrote of the importance of the Workforce Innovations for the New Nevada (WINN) fund for the Panasonic Preferred Pathway program and how GOED’s workforce development grant fund is being used to train employees in skills required by Nevada employers.

Read more: https://www.reviewjournal.com/business/company-degree-programs-come-to- rescue-of-nevadas-skill-gap/

Upcoming Events

GOED BOARD MEETING TIME NORTHERN LOCATION May 18 1pm The Capitol Assembly Chambers

July 20 Nevada Capitol Building, Carson City

September 21 SOUTHERN LOCATION November 16 Governor’s Conference Room Grant Sawyer Building, Las Vegas

Board Members

Governor Brian Sandoval, Chairman Ms. Kathleen Drakulich, Mr. Weldon (Don) Havins, MD, JD, Attorney at Law, Professor and Director of Medical Lieutenant Governor McDonald Carano Jurisprudence and Ophthalmology, Mark Hutchison Touro University Nevada Mr. James Barrett, Secretary of State Barbara Cegavske President, The JABarrett Company Mr. John White, Chancellor, Nevada System of Higher Education Mr. Benjamin Yerushalmi, Mr. Rob Roy, CEO/Founder, Owner, The Jewelers of Nevada Switch Communication

Mr. Don Soderberg, Mr. Sam Routson, Director, Department of Employment, Chief Administrative Officer, Training & Rehabilitation Winnemucca Farms

1.800.336.1600 [email protected]

808 West Nye Lane, Carson City, NV 89703 555 E. Washington Avenue, Suite 5400, Las Vegas, NV 89101 www.diversifynevada.com | 702.486.2700

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