Industry clusters are local concentrations of companies that are interconnected to one another. These can include specialized suppliers, service providers, and associated institutions in a particular field that are located in the same region. Clusters are valuable to an area because they increase the ability of their companies to compete worldwide. The development and expansion of industry clusters is an important undertaking for governments, companies, and other institutions like universities. Cluster development initiatives are an important new direction in economic policy, helping attract businesses to areas where they can capitalize on a local advantage as well as helping to reduce the costs of doing business.
For the Southern Nevada economy our largest industry cluster revolves around the arts, entertainment, recreation and visitor industries. The area's fastest-growing cluster is business and financial services.
The following is a list of established and growing areas of expertise in the Southern Nevada economy: