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To show how water demand will increase, the authority works alongside UNLV’s Center for Business and Economic Research to project how many people may move into its service area by 2070.
The latest numbers show that Clark County’s population will grow to 3.43 million, up from 2.37 million in 2024. More Nevadans means more demand for water, which the water authority is anticipating in planning conservation measures, authority spokesperson Bronson Mack said.
“It’s a story that Andrew Woods, director of UNLV’s Center for Business and Economic Research, knows well: which businesses won and which lost during Formula One?
“It seems like a little bit of a tale of two different cities in terms of success or not,” Woods said during a virtual interview.”
“We speak to economic expert Andrew Woods on where things stand with the resort/casino industry, and where it goes in the future.”
“Despite an increase in automation or AI, some consumers will place a premium on human interaction or service, and some will shirk certain technologies because of security risks—like the major cyberattacks that took place at leisure and hospitality institutions in Las Vegas this year, said Andrew Woods, director of UNLV’s Center for Business and Economic Research.
“The idea that we’re going to get rid of all human workers, I think, is overblown,” he said.
What’s important to note, as well, is that AI may disrupt jobs—but it’s not going to destroy them, Woods said, citing similar technological advancements over the years that have not overrun the workforce.”
“In its latest quarterly Southern Nevada Business Confidence Index, UNLV’s Center for Business and Economic Research found a significant drop in local businesses’ confidence in the economy — from an index rating of 116 in the third quarter to 88 in the fourth quarter, suggesting “that respondents, on average, feel overall more negative than positive” about certain components of the economy, including profits and hiring.”
“For 2024, I think steady as she goes in terms of how businesses continue to make rational choices in a world where interest rates and the cost of doing business, the cost of money, stay high for the foreseeable future,” said Andrew Woods, director, UNLV Center for Business & Economic Research. “We’ve been talking about this for over a year and we don’t see a recession.”
Woods expects 2024 to be interesting, especially if interest rates do what they’re supposed to do and cool demand without tipping the economy into a recession. As money and credit conditions become tighter, “We’re going to find out quickly, as Warren Buffet famously said, ‘Who’s swimming naked as the tide goes out.’ We’ll find out which businesses don’t have as sound of books or profitability as they seem to put out there to the public.”
“Professional sports have indeed provided a boost to the Las Vegas economy. But, as in the case of F1, is the economic benefit worth the price locals have to pay?
We turn to the director of UNLV’s Center for Business and Economic Research for answers, in this edition of FOX5 Experts.
We estimated about $1.8 billion, and that was just last year, so we see it growing, but we also have questions, just like the public does, about, you know, how much of this can you quantify, what assumptions are being made about that impact,” said Andrew Woods, the director of the program.”
“Andrew Woods, director of the Center for Business and Economic Research, acknowledges the need for balanced development. As Las Vegas rapidly approaches a population of three million residents and attracts nearly 50 million visitors each year, questions arise about the city’s infrastructure and its ability to accommodate larger events. Woods emphasizes the importance of ensuring that these developments benefit both the community and the visitors.”
”We estimated about $1.8 billion, and that was just last year, so we see it growing, but we also have questions, just like the public does, about, you know, how much of this can you quantify, what assumptions are being made about that impact,” said Andrew Woods, the director of the program.
“Certainly, we do think sports is helping reinforce our leisure and hospitality industry, which accounts for one-in-four jobs and one-in-three dollars generated in southern Nevada, we do believe that impact is real”
“I am excited to work with the president, provost, and our CPI partners to advance cannabis policy discussions, education, compliance, and research implications as the impacts of cannabis legalization continue to unfold and take shape,” said Durrett, who joined the university as the institute’s director in August 2023.
In addition to Durrett, CPI at UNLV advisory board members include Chris Heavey (executive vice president and provost), Dr. Marc J. Kahn (dean of the Kirk Kerkorian School of Medicine), Robert Ulmer (dean of the Greenspun College of Urban Affairs), David Hatchett (interim vice president for research), Leah Chan Grinvald (dean of the William S. Boyd School of Law), Andrew Woods (director of the Center for Business and Economic Research), Clark County Commissioner Tick Segerblom, and cannabis cultivation business owner and operator Judah Zakalik.”