NEVADA GROWTH: Gov. Sisolak on challenges of diversifying Nevada economy

For decades the hospitality, gaming and tourism industry has been and will likely continue to be the valley's largest industry.

SO FAR NO INJURIES.NEW AT SIX!FOR DECADES THEHOSPILITYTA... GAMING...*AND*...TOURISM INDUSTRY... HASBEEN...*AND*....WILL LIKELY CONTINUE TOBE... THE VALLEY’S LARGESTINDUSTRY!GOOD EVENING....I’M TRICIA KEAN.AND I’M TODD QUINONES.BUT ASWE ’VE SEEN... THATLEAVES US... ESPECIALLYVULNERABLE TO MASSIVE DISRUPTIVEEVENTS... LIKE THE GREAT.RECESSION... ONE OCTOBER... ANDMOST RECENTLY THE PANDEMIC.TONIGHT, AS PART OF OURSERIES... MEADOWS TOMETROPOLIS...WE EXAME INTHECHALLENGES... AND SUCCESSES..OF DIVERSIFYING OUR ECONOMY.AS MANY AS 60,000 BOTTLES CAN BEPROCESSED EVERY DAY HERE ATCKLUY JACK COLD BREW COFFEE.THE NEVADA BUILT COMPANY AT LAKEMEAD AND NELLIS, SHIPS OUTCOFFEE ACROSS THE COUNTRY.BUT THERE’S A CHALLENGE.THEY NEED TO HIRE ALL KINDS OFENGINEERS TO MAINTAIN THISEQUIPMENT.RAY: SO YOU NEED GOOD SMARTPEOPLE HERE WITH A LOT OFKNOWLEDGE... IF YOU GO TO ANINDUSTRIAL TOWN THEY AREPLENTIFUL.

IN AN ENTERTAINMENTTOWN, GAMING, HOSPITALITY TOWNTHERE IS A SHORTAGE OF THEM.TODD: SO WHAT DO YOU DO IN THATCASE?RAY: WELL YOU KNOW, WE HAVEOUTSOURCED SOME THINGS FROM ALLOVER THE COUNTRY.THIS IS JUST ONE EXAMPLE OF THEHURDLES THAT COME WITHDIVERSIFYING NEVADA’S COENOMICBASE.GOVERNOR SISOLAK: THE PROBLEM ISTHAT YOU JUST DON’T BECOMEN AENGINEER.

YOU’RE GOING TO BETRAINED AND THAT’S A HIGHEREDUCATION DEGREE.

WE’REEXPANDING THE EDUCATIONENGINEERING SCHOOLS.

BUT ITTAKES A WHILE ONCE THAT PIPELINESTARTS AND YOU GET PEOPLE IN ITTO GET THEM BACK OUT OF THERE.DURING AN EXTENDEDNTER IVIEWWITH 13 ACTION NEWS, GOVERNORSTEVE SISOLAK DIDN’T SHY AWAYFROM THE CHALLENGES FOR SOUTHERNNEVADA TO DIVERSIFY OUR ECONOMY.ACHIEVING THAT LARGELY DEPENDSON GETTING OTHER INDUSTRIES TORELOCATE HERE.TODD: WHAT DO THESE COMPANIESTELL YOU WHY THEY’RE NOT COMINGTO NEVADA?GOVERNOR SISOLAK: ONE OF THE BIGREASONS IS WORKFORCE ANDEDUCATION.

YOU KNOW, WE DON’THAVE THE WORKFORCE TO MEET A LOTOF THEIR NEEDS... THERE’S STILLSOME CONCERN EVEN ABOUT OUR KTHROUGH 12 SYSTEM THERE THATWE’RE JUST NOT RANKED HIGHENOUGH AND THEY WANT A GOODPLACE FOR THEIR EMPLOYEES ANDTHEIR EXECUTIVES TO BE ABLE TOSEND THEIR KIDS TO SCHOOL.ANY C LEOOOKING TO RELOCATE ALSOHAS TO CONSIDER COST OF HOUSINGFOR THEIR EMPLOYEES.TODD: THE BIG SELL FOR SOUTHERNNEVADA FOR A LONG TIME IS, ’HEYYOU CAN COME HERE AND IT’S CHEAPTO LIVE.’ THAT’S NOT NECESSARILYTHE CASE ANYMORE.GOVERNOR SISOLAK:T ’S NOT ATALL THE CASE ANYMORE HERE.ABSOLUTELY RIGHT.

AND I AMTROUBLED.

I’M TROUBLED BYTHAT... YOU ARE PRICING ANENTIRE GENERATION OUT OF THEHOMEOWNERSHIP MARKET.THE CHALLENGES ARE GREAT.BUT THE NEED TO OVERCOME THOSECHALLENGES MAY BE EVEN GREATER.TAKE A LOOK AT THIS CHARTPROVIDED BY LOCAL AREAUNEMPLOYMENT STATISTICS ONDETR’S WEBSITE.THE BLUE LINE IS NEVADA’SUNEMPLOYMENT RATE AT THE HEIGHTOF THE PANDEMIC.IT SOARED TO NEARLY 30%.THE HIGHEST IN THE COUNTRY.THE NATIONAL AVERAGE IN ORANGE,WAS HALF THAT.THIS IS THE VERY DEFINITION OF ABOOM OR BUST ECONOMY THAT ISTIED TO TOURISM AND GAMING.GOVERNOR SISOLAK: WE NEED TOHAVE BUSINESSES THAT WILL BEABLE TO KEEP THIS ECONOMYRUNNING, KEEPING PEOPLEEMPLOYED.SISOLAK POINTS TO TAX BREAKS ORABATEMENTS AS BEING ONE CARROTTHAT HAS LURED SOME BUSINESSESHERE, ALONG WITH THOUSANDS OFJOBS.GOVERNOR SISOLAK: WE’VE GOTSEVERAL AUTONOMOUS VEHICLES,NURO, THE ONE THAT YOU SEESOMETIMES THE PIZZA ADS ON TV.THIS VEHICLE AND NO DRIVERDELIVERS PIZZA OUT THERE, THERE.WE’VE GOT A BIG FACILITY AT THESPEEDWAY AND THEY’REMANUFACTURING.SOLAR ENERGY ALSO CARRIES SOMEPROMISE OF BECOMING SOMETHINGSOHEUTRN NEVADA COULD EXPORT.GOVERNOR SISOLAK: I WAS BRIEFEDON THE SITUATION AT UNLV, WHERETHEY NOW HAVE THE TECHNOLOGYTHAT THEY DEVELOPED THAT FORGOING FROM POINT A TO POINT B.THERE’S A POWER LOSS, THERE’S ANENERGY LOSS, BUT THEY’VE COME UPWITH A WAY TO TRANSMIT IT, THATTHERE IS NO ENERGY LOSS, WHICHIS REALLY REVOLUTIONARYSCIENTIFIC DEVELOPMENTS, WHICHIS GOING TO HELP US THERE.ALSO PROMISING, OUR MARIJUANAINDUSTRY HAD MORE THAN $1BILLION IN TAXABLE SALES IN THELAST YEAR.AND THERE’S A BIGUS PH BY THEDIFFERENT CHAMBER’S OF COMMERCEAND THE LAS VEGAS GLOBALECONOMIC ALLIANCE OR LVGEA TOLURE BUSINESSES HERE.THAT INCLUDES CUBICALL.THE CALIFORNIA START-UP, SEEN ONABC’S SHARK TANK, MAKES PORTABLEENCLOSED CUBICLES FOR BUSINESSESTHAT OFFER PRIVACY IN OPENCONCEPT OFFIC.ESTHE BROTHERS WHO OWN IT WERELOOKING TO MOVE.NEVADA, FLORIDA AND TEXAS WEREON THE LIST OF POSSIBILITIES.THEN THE LVGEA STEPPED IN.ANTHONY: WE DIDN’T EVEN MAKE THEDECISION YET TO MOVE HERE, ANDTHEY BROUGHT US TO LUNCH TO GOMEET THE MAYOR OF NORTH LASVEGAS.IN THE END, SISOLAK SAYS ITLIKELY WON’T BE ONE MAJORINDUSTRY THAT WILL HELPSTABILIZE THE ECONOMIC BASE OFTHE VALLEY.BUT RATHER A COLLECTION OF SMALLTO MID-SIZE COMPANIES THAT SEEPROMISE IN OUR METROPOLIS.WE HAVE BEEN BRINGING YOUSTORIES... ON THE GROWTH OF OURVALLEY... ALL MONTH LONG.OUR EXCLUSIVE SERIES ...IS STREAMING NOW... ON "ALL"DIGITAL PLATFORMS...*AND*...STREAMING DEVICES.JUST POINT YOUR CAMERA....ON THE SCREEN...