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Business Voice October 2019 Las Vegas Metro Chamber of Commerce Red - President’S Club Member

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Business Voice October 2019 Las Vegas Metro Chamber of Commerce Red - President’S Club Member Representing Nevada's Employers in Washington, D.C. Page 13 Your Future, Our 401(k) Plan – Join Now What is VYP? Page 2 Page 20 MARY BETH SEWALD PRESIDENT & CEO ast month, the Las Vegas Metro Another exciting development in Washington, D.C. was Chamber led a delegation of more than our announcement of the new Interstate 11 Chambers L 150 business and community leaders of Commerce Coalition. The Las Vegas Chamber is from across Nevada for our annual joining with the Arizona Chamber of Business and Washington, D.C. Fly-in. It was a great Industry to bring chambers of commerce along the I-11 week of conversations and making connections with our corridor together to push for funding for the project. Nevada Congressional delegation and representatives This is an opportunity to share what this important from other states, as well as White House and U.S. route will mean to jobs and local businesses in each of Department of Labor officials and policy experts. these communities. We appreciate the Boulder City and Henderson chambers for being the first to join this We had several key take-aways. First, we were pleased group. with the announcement that there will be no funding for Yucca Mountain in 2020. While the Yucca Mountain We are moving ahead with two new initiatives at issue is by no means dead, no funding for it in either the Chamber. This month, we formally launch our the Senate or House Appropriations bills means the partnership with Hope for Prisoners and Workforce project cannot move ahead for at least another year. Connections to connect formerly incarcerated The Las Vegas Chamber thanks our entire Congressional individuals, who have successfully gone through delegation for their vigilance in continually fighting to training and rehabilitation programs, with employment oppose any storage of nuclear waste in our state. opportunities. I encourage you to consider this program when you are seeking new employees. The Chamber is We also learned that the Virgin Trains USA project holding a workshop on Oct. 28 at 4 p.m. to share more to build high-speed rail from Las Vegas to Southern details of the program, highlight success stories, and California is looking very promising. The Environmental showcase how this talent pipeline may benefit Impact Studies are complete, and the next steps are your business. to secure the rights-of-way and financing. Recently, the project received approval from California for $300 In addition, the Chamber’s new 401(k) program is now million in tax-exempt private activity bonds with a open for enrollment. This new retirement program, the commitment for the same amount again next year. This first of its kind in the country, gives Chamber members will allow Virgin Trains USA to issue about $2.4 billion in and their employees access to a quality and affordable bonds, roughly half of what it needs to build this project, retirement plan. This program offers 30 high-quality a major step forward to make this concept a reality. investment choices at very affordable rates. In addition, the plan administrator takes care of all of the paperwork This train will bring great benefit to our region. It will and filings for you. Please explore how it would benefit alleviate the significant traffic congestion on the I-15 you and your team. between Las Vegas and California and make travel easier, more dependable, and take less time. Given that Thank you for your engagement in the Las Vegas 19 percent of visitors to Las Vegas are from Southern Chamber. I look forward to seeing you at one of our California, high-speed rail is an investment worth making upcoming events. Please let us know how we can serve that will pay dividends to our region. you and your business. LAS VEGAS METRO CHAMBER OF COMMERCE OCTOBER 2019 BUSINESS VOICE 3 Business Voice VOLUME 40 NUMBER 9 Las Vegas Metro Chamber of Commerce 575 Symphony Park Avenue, Ste. 100 Las Vegas, NV 89106 702.641.5822 • LVChamber.com Mary Beth Sewald President & CEO Las Vegas Metro Chamber of Commerce 2019 Board of Trustees Trustees Past Chairpersons Executive Committee Terrance Shirey Joseph Asher Berlyn Miller 1979 Chairman William Hill US Nevada State Bank Phil Arce 1984 Brandon Barkhuff Tom Burns NV Energy Elaina Blake 1985 Chair-Elect Dave Vlaming 1986 Cragin & Pike Lisa Beckley The Beckley Group Jeffrey A. Silver 1988 Michael Bolognini Immediate Past Chairman Danielle Bisterfeldt Peter Thomas 1989 The Howard Hughes Corporation Cox Communications William Martin 1991 Michael Bonner Hugh Anderson Bob Maxey 1992 HighTower Las Vegas Greenberg Traurig, LLC Denny Weddle 1993 Jay Barrett Bob Brown The JABarrett Company Opportunity Village David Smith 1994 Gina Bongiovi Senator Richard Bryan Ted Wiens, Jr. 1995 Fennemore Craig Bongiovi Law Firm John O’Reilly 1996 Kerry Bubolz Betsy Fretwell Diane Dickerson 1997 Switch Vegas Golden Knights Edward Crispell 1998 John Guedry Tyler Corder Bank of Nevada Findlay Automotive Bill Wells 2001 Lori Nelson-Kraft Michael Feder Jay Kornmayer 2002 Dickinson-Wright, PLLC Las Vegas Convention and Lou Emmert 2003 Visitors Authority Jeff Grace Tim Cashman 2004 Ellen Schulhofer Gartner Hugh Anderson 2005 Brownstein Hyatt Farber Schreck Lisa Howfield Bruce Spotleson KLAS-TV John Wilcox 2006 Neon Museum Gregory Lee Fafie Moore 2008 Eureka Casino Resort Ryan Woodward Steve Hill 2009 National Technical Institute Rex Liu Family & Cosmetic Dentistry Kristin McMillan 2010 Michael Bonner 2011 Napoleon McCallum The Las Vegas Sands Corporation Kevin Orrock 2012 Production Team Bill Nelson Jay Barrett 2013 Piercy Bowler Taylor & Kern Bruce Spotleson 2014 Boyd Nelson Joyce Goedeke Bob Brown 2015 Publisher/Editor Southwest Gas Corporation John Guedry 2016 Cara Clarke Brig. Gen. Robert Novotny Editor Nellis Air Force Base Bill Noonan 2017 Karla Perez Michael Bolognini 2018 Pomai Weall Valley Health System Production Coordinator/ Contributor Jim Prather Las Vegas Review-Journal Noel Gonzalez Graphic Designer Mark Shearer Raiders The Business Voice (USPS #717-970) is published by Larry Singer The Las Vegas Metro Newmark Knight Frank Chamber of Commerce. 575 Symphony Park Ave., Ste. 100 Vicky VanMeetren Las Vegas, NV 89106 Roseman University of Health Sciences Annual Subscription $25 Chris Wilcox Periodical postage paid at Eide Bailly LLP Las Vegas, NV POSTMASTER: Send address changes to: The Las Vegas Metro Chamber of Commerce, 575 Symphony Park Ave., Ste. 100 Las Vegas, NV 89106 EDITORIAL POLICY: The Business Voice is a member newsletter of the Las Vegas Metro Chamber of Commerce. The Las Vegas Metro Chamber of Commerce welcomes input, ideas and suggestions from our members. As with any periodical, we must adhere to strict deadlines and we reserve the right to edit all materials submitted for publication. Commentaries that are marked as such do not necessarily reflect the opinion or position of the Chamber, its trustees or employees. The Chamber cannot guarantee the validity or accuracy of the contents of paid advertisements. All content is subject to change. Questions or concerns about content of the Business Voice can be addressed to Vice President of Marketing and Brand Strategy, Las Vegas Metro Chamber of Commerce, 575 Symphony Park Avenue, Suite 100, Las Vegas, NV 89106. Table of Contents 08 11 MEMBER NEWS BOARD OF TRUSTEES SPOTLIGHTS OCTOBER 2019 7 The All-Powerful Consumer 8 Member News 11 Board of Trustees Spotlights 13 Representing Nevada's Employers in Washington, D.C. 16 Chamber News 18 What's Happening 20 Committee Corner 13 REPRESENTING NEVADA'S EMPLOYERS IN WASHINGTON, D.C. 21 Leadership Advance 23 News You Can Use 24 Your Scene | You're Seen 26 President's Club Spotlights 29 Welcome New Members 21 23 30 Ribbon Cuttings LEADERSHIP ADVANCE NEWS YOU CAN USE 33 Access Las Vegas 35 Working For You 30 35 RIBBON CUTTINGS WORKING FOR YOU LAS VEGAS METRO CHAMBER OF COMMERCE OCTOBER 2019 BUSINESS VOICE 5 A Positive Outlook The All-Powerful Consumer C o n s u m e r e x p e n d i t u r e s – t h e a m o u n t s p e n t b y h o u s e h o l d s o n business spending is not. Importantly, consumer spending goods and services – account for 68 percent of our country’s is more effect than cause, where business investment is gross domestic product. Consumers spent $14.5 trillion in more cause than effect. If business activity continues to the second quarter of 2019, the highest level ever reported. slow, it will inevitably limit employment opportunities, wage and salary payments and consumer expenditures. Not only are we spending more than at any point in history, Also unsettling is that consumers are financing more we are also spending differently. Consumers spend about of their consumption. After falling significantly from 30 percent of their money on goods like food, clothing 2001 to 2012, consumer debt service payments as a and cars. The remaining 70 percent is spent on services, share of disposable personal income is rising again. including housing and health care, which combine to Iconic Soirées account for more than 35 percent of all consumer outlays. Consumers matter to the health of our nation’s economy, so it is in our interest to be mindful of their well-being. Fifty years ago, these numbers looked very different. In Distinguishing between economic recovery, expansion COME CELEBRATE WITH US! 1969, spending on goods accounted for more than half of all and exuberance can be difficult and oftentimes those (NO ROOMS REQUIRED) consumer expenditures . Today, we spend half as much of our lines are blurred by optimists wanting to believe the good income on motor vehicles and twice as much on health care.
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