While Reno and northern Nevada have experienced notable investments in tech and manufacturing, a study by the UNLV Brookings Mountain West Center for Business and Economic Research and Transportation Research Center noted that most of the development in the southern part of the state has been in “lower-productivity and power-wage concentrations.” A Southern Nevada Infrastructure Working Group is striving to address long-term sustainability and resilience through some of the study’s recommendations. It noted potential in warehousing and logistics due to proximity to Southern California ports, Mexico and I-15, as well as in pursuing industries that align with federal funding streams and the regional export economy, such as supply chains supporting elective batteries and clean energy. Other parts of the state are already experiencing growth in electric vehicle batteries. Battery manufacturer Lyten announced in October 2024 that it will build a $1 billion lithium-sulfur battery factory and create 1,000 jobs near Reno.

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Since the Raiders arrived in 2020, Allegiant Stadium in Vegas has become a magnet for massive events, including the Super Bowl and the College Football National Championship Game (in 2027). UNLV’s Center for Business and Economic Research did a research study in 2023 and found sports tourism generated $1.845 billion in economic activity from out-of-town visitors during the 2022 fiscal year alone.

USA Today cited the study last year when writing a story about how Las Vegas, which used to simply be known as the gambling capital of America, is now billing itself as the “Sports Capital of the World.”

Wrote USA Today:

“UNLV’s Center for Business and Economic Research found the city’s major sports teams have boosted the economy by drawing in more visitors and creating ‘new valuable jobs’ in sports education and other sports-related sectors. While it’s not necessarily helping diversify Nevada’s tourism-dependent economy, UNLV’s Center for Business and Economic Research director Andrew Woods said it has helped develop that sector.

“It’s clear to us that it’s been good for the economy,” Woods said. “We are still dependent on leisure and hospitality’s success, but (sports) continues to make leisure and hospitality successful.”

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LAS VEGAS (KSNV) — Wednesday marks President Donald Trump’s so-called “Liberation Day,” when reciprocal tariffs will take effect for imported goods.

Dr. Stephen Miller, research director for the Center for Business and Economic Research at UNLV, joined us to talk more about how tariffs could affect people living in Las Vegas.

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“We’re going to need a lot more lithium, especially with the current administration’s policies around protectionism,” said Andrew Woods, director of UNLV’s Center for Business and Economic Research. “If we’re going to have tariffs and this ever-increasing trade war … It means the supply has to come from somewhere, and that that supply, at least in the next four years, could come from the United States.”

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“I think the economy locally still is strong,” said Andrew Woods, director of UNLV’s Center for Business and Economic Research. “Where we’re concerned is that the national outlook is certainly dampening… there’s these shocks essentially happening to the economy. In this case, tariffs and with that is uncertainty in how businesses are responding. So far, it’s more of a wait-and-see approach.”

Four in 10 local business leaders did express optimism about increased sales in Q2. The rest believe sales will be the same as Q1 or worse. The biggest challenges for employers were economic uncertainty and hiring qualified people.

The report shows an overall index increase from 90.4 in the last quarter of 2024 to 105.7 for Q1 in 2025. The report pointed out that Clark County had “relatively negative economic signals” near the end of 2024. Unemployment increased, taxable sales were lower, gaming revenue declined and fewer airline passengers visited.

Woods added that the CBER is not predicting a downturn but is revising the forecast to reflect lower growth this year.

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Professor and research director for the UNLV Center for Business & Economic Research Stephen Miller says we’re not there yet though.

But how can you prepare? Miller says you can save and limit your purchases, but he warns that can lead the economy in the wrong direction.

“So, what you’re doing is you’re reducing consumption but at the national level if everyone did that, that would help push us into a recession,” said Miller.

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A survey of local business leaders shows more than half predict the U.S. economy will slide into a recession within the next two years, according to a quarterly report released by UNLV’s Center for Business and Economic Research.

According to the Southern Nevada Business Confidence Index, when asked to predict the next U.S. recession, 55.8 percent responded the U.S. economy could slide into a recession within the next 24 months, while slightly more than 30 percent didn’t see any recession happening in that timeframe. The remaining respondents said the country was already in a recession or predicted it would happen next year.

Forty-one percent of business leaders said their outlook of U.S. economic conditions was better for Q2 than it was in the first quarter of 2025. However, regarding economic conditions in Nevada, business leaders expressed somewhat less optimism in the upcoming quarter. Around 35 percent predicted it would be better, while the majority expected it to stay the same or be worse.

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Tina Quigley, Former President/CEO, Las Vegas Global Economic Alliance, explains the overall success of economic development for a region requires business-friendly regulations, workforce pipelines, and operational values. She adds it is the entire community that makes or breaks economic development success.

UNLV Center for Business and Economic Research is mentioned at 14:45.

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Stephen Miller, an economics professor at UNLV and research director of the university’s Center for Business and Economic Research, agreed that the overall fiscal picture was “pretty good” but noted there are some negative signs for Southern Nevada’s economy, which could affect the region’s largest industry in other ways. Miller pointed out that the leading index for Southern Nevada’s economy has been drifting downward since March 2022 and the unemployment rate is rising.

Uncertainty about how the wildfires in Southern California could affect the housing market in nearby metro areas, such as Las Vegas, is also worth noting, he said.

“It’s not signaling that we’re in any trouble, but the leading index is providing some caution. So, we’re cautious,” Miller said. “We don’t see a recession around the corner, but who knows?”

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Nevada is one of seven states without a sub-minimum wage option for tipped workers. Silver State workers earn at least $12 per hour, while other states allow employees to pay their workers as low as $2.13 hourly if they earn tips on the job.

For many, their earnings and the tax credits they qualify for result in more tax returns than tax bills, according to Andrew Woods, director of the Center for Business and Economic Research at UNLV, who spoke in a previous Review-Journal report.

Woods had also brought up concerns the policy would discourage employers from paying fair wages as well as result in people giving less tips.

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