Nevada has come a long way in the sports and medical sectors since a 2011 joint economic development initiative by UNLV Brookings Mountain West and SRI International.
When the two organizations discussed how to best develop the state at that time, Nevada had no professional sports teams and the medical school at UNLV was still in its conceptual stages, a recent news release from the university said.
The 2011 plan was issued at a time when the state was working to recuperate from the Great Recession in one of the nation’s hardest-hit areas. Since then, Nevada has made dramatic improvements in economic development. The state has put in place policy reforms that take into account local and regional partners, and physical and programmatic assets have helped numerous industries across the state. But despite this progress, the massive effects of COVID-19 have shown that the economy of Nevada, specifically in the southern regions, remains quite vulnerable.
As Nevada continues to bounce back from the pandemic, Brookings Mountain West and The Lincy Institute in May released a report updating the 2011 plan. The 131-page report provides a broad evaluation of Nevada’s economic condition over the past 10 years.
“Actions implemented in the wake of the Great Recession reformed Nevada’s approach to economic development,” David Damore, UNLV professor and interim executive director of UNLV Brookings Mountain West and The Lincy Institute and the report’s co-author, said in the release. “Despite marked improvements to the state’s economic development efforts over the past decade, there’s still quite a bit of work to be done over the next five years to ensure a sustainable future for all Nevadans.”
