Nevada Makes Top 10 List for Best Business Climate

LAS VEGAS -- A business publication is naming Nevada one of the top 10 states for business with neighboring California is listed as the worst state. Nevada officials are hoping more Golden state businesses will consider moving to the Silver State.

According to a report in Chief Executive magazine, California, once a business-friendly state, now has one of the largest governments of all U.S. states. Business owners who were surveyed said state regulators made doing business there tougher.

Read more ... http://www.8newsnow.com/story/15099211/nevada-makes-top-10-list-for-business-climate

Interested in doing business in Nevada? You should be. Here's why...

The outstanding tax climate in Nevada is one of the best reasons to do business in the state. This tax structure also clearly distinguishes Nevada as offering a business environment very few states can match.
Read more ...

http://www.diversifynevada.com/why/economic_advantage/

Commercial real estate rebounds

Compromises between landlords and tenants are helping the commercial real estate market improve.

JEREMY HOBSON: In about an hour we're going to find out how many people filed new mortgage applications last week. The last few surveys have not given economists much hope for the housing market. But one part of the real estate world that was thought to be in big trouble isn't looking so bad these days. Commercial real estate -- malls, office buildings, and apartment complexes.
Read more... http://marketplace.publicradio.org/display/web/2011/02/09/am-commercial-real-estate-rebounds

Las Vegas jobless rate falls to 13.7 percent as job seekers leave workforce

CARSON CITY – For the first time in five months, the unemployment rate dropped in Las Vegas below 14 percent, registering 13.7 percent in January.

The state Department of Employment, Training and Rehabilitation reported today there were an estimated 128,300 people out of work in the Las Vegas area, down from 144,200 in December.
Read more...
http://www.lasvegassun.com/news/2011/mar/10/las-vegas-jobless-rate-falls-137-percent-job-seeke/

Sands working quietly to push Florida casinos

A proposal that could create five Las Vegas-style casinos in Florida's largest cities could lead to a $1 billion to $2 billion investment by Las Vegas Sands Corp., which is exploring a potential resort development in Miami.
Read more... http://www.lvrj.com/business/sands-working-quietly-to-push-florida-casinos-117547518.html

Commercial Vacancy Rates to Decline

A stabilization trend is taking place in commercial real estate sectors, but in most markets rent will remain soft except for multifamily rentals, according to the National Association of REALTORS®. Lawrence Yun, NAR chief economist, said a pullback in construction is helping stabilize the market. “Very limited construction of new commercial real estate over the past few years has essentially fixed the supply of available space,” he said. “This means vacancy rates could fall quickly from any increase in demand for commercial space.”
Read more... http://www.realtor.org/RMODaily.nsf/pages/News2011022803?OpenDocument

Boulder City OKs deal for solar power plant

Plans for a fifth solar power plant in Boulder City’s Eldorado Energy Zone moved forward Tuesday night after the Boulder City Council approved a development agreement between the city and the company behind the project.

The city and Sempra Generation, based in San Diego, signed a 50-year lease on Jan. 11 for about 1,500 acres called the Black Hills site. The development agreement between the city and the company prohibits Boulder City from changing zoning, making alterations to its master plan or otherwise preventing Sempra from completing and operating the plant over those 50 years.
Read more... http://www.lasvegassun.com/news/2011/feb/22/boulder-city-oks-deal-solar-power-plant/

Price of existing homes drops to 20-year low in Las Vegas

New home sales in January and the price of existing homes tumbled to their lowest level in two decades in Las Vegas.
SalesTraq reported the median price paid for existing homes in January was $109,000, down 9 percent from the $120,000 paid in January 2010 -- and the lowest price since 1991. The median price was $114,500 in December, the firm reported.  Read more... http://www.lasvegassun.com/news/2011/feb/22/price-existing-homes-drops-20-year-low-las-vegas/

2010 saw increase in land sales as prices continued to fall

More land traded hands in 2010 than it has since the recession began, but prices continued to plummet, according to a Las Vegas research firm.

Applied Analysis said the 2,113 acres of land was transferred in 2010, a 32 percent increase over 2009 when 1,623 acres was sold. Despite the increase, which in part was attributed to lenders taking back ownership of properties, the sales levels are one-quarter of what they were five years ago.
Read more... http://www.lasvegassun.com/news/2011/feb/21/2010-saw-increase-land-sales-prices-continued-fall/

Lenders take ownership of The District at Green Valley Ranch

Lenders owed about $100 million have assumed ownership of The District at Green Valley Ranch mixed-use center in Henderson.
The District was developed by the Greenspun family, owner of the Las Vegas Sun, through its American Nevada Company. The District includes retail, office, entertainment and residential components.
Because of weak sales by key retailers and declining occupancy, income at the property fell during the recession and American Nevada said in late 2009 it had put the loan for the property into strategic default in hopes of negotiating more realistic terms.
Read more... http://www.lasvegassun.com/news/2011/feb/21/lenders-take-ownership-district-green-valley-ranch/