Unique Aspects

Las Vegas is unique in the nation since it is the only major city that combines the attributes listed below. These factors are encouraging businesses and infrastructure providers to move their business to Las Vegas. Plus, Las Vegas is very attractive to retired people. Low cost of living, plenty of entertainment, good medical care and low cost public golf courses are very attractive.

Unique Aspects of Las Vegas

• Dual power sources (California and Hoover Dam). This is a critical element for network access providers (Internet backbone infrastructure) and may other businesses that can't tolerate a power failure.
• Low risk of seismic activity
• Business friendly government
• No hard freezes
• Abundant labor supply
• No state income taxes
• 310+ days of sunshine per year
• Low cost of living
• Low terrorism threat

Intelligent Government

In my experience, Las Vegas government is unique in that the city hires and listens to consultants. And, they have systematically executed processes for bringing new businesses to Las Vegas. Below are some examples:

• Wholesale Furniture - World Market Center
• Cancer Search - Las Vegas has actively recruited medical research facilities. Here are a couple: Nevada Cancer Institute, Comprehensive Cancer Centers of Nevada and the most recent: Cleveland Clinic
• Mission Critical Businesses - Dual power sources, no hard freezes and low terrorism has encouraged many companies to locate critical facilities in Las Vegas. One example is Switch, an internet switching and co location center.
• Wholesale Jewelry - This is not open yet; it is delayed due to the crash. I do not have a new date for it but it is another business segment that Las Vegas targeted. Here is an article on what is planned.
• Internet Retailers - Nevada's pro business laws and internet tax position (no taxes) has encouraged Internet retailers to locate in Las Vegas. Zappos shoes is an example.
• Nellis AFB - Nellis is what the Air Force calls a super base and it continues to expand. Plus, the huge areas owned by the federal government has generated a number of companies providing research and support.
• Retirement Population - Las Vegas is near to both Las Angles and San Diego. Between the two cities, approximately 2.5M people will reach retirement age in the next two years. If 1% choose to sell their expensive California homes and retire in Las Vegas, it would be more homes than are currently for sale.

A Great Place To Live

I remember reading about a company that planned a brilliant dog food campaign for a new product. Everyone loved the campaign and lots of consumers bought one can. The problem was that the dogs did not like the food and would not eat it so the product failed despite the great campaign. This is true for where people live; if it is not a good place to live and raise a family, it will not have sustained growth. Once you get away from the strip, Las Vegas is a great place to live. Prices are reasonable (more so now!!!) and there are lots of parks, sports, golf, entertainment, and 310+ days of sunshine per year. Here, a valet or bar tender can afford to buy a nice home.

Contact me if you are considering buying or selling Las Vegas real estate. You will be glad you did.

...Eric

Eric Fernwood
RE/MAX CENTRAL
8400 W. Sahara Ave
Las Vegas NV 89117
Email: EricFernwood@gmail.com
Website: www.EricFernwood.com
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