Business + Economy

The federal government completed its transfer of 10,000 acres of public land to the city of Yerington on Thursday. Reno Public Radio's Julia Ritchey reports.

The Bureau of Land Management issued the patent to Yerington for the land, which will be used for industrial, recreational and infrastructure projects.

More than half the land will be given to Nevada Copper for expansion of its Pumpkin Hollow mine.

The land transfer was approved last year as part of the National Defense Authorization Act passed by Congress.

Tesla, Now Faraday?

Aug 18, 2015
faradayfuture.com

Tesla, the electric car company, is building a massive battery factory in Northern Nevada. State lawmakers promised it some billion dollars in tax incentives to get it here.

Nevada JobConnect

Many more Nevadans are getting back to work.  That’s according to economic data released Wednesday that shows the unemployment rate in Nevada dropped to its lowest level in seven years. Reno Public Radio’s Anh Gray reports.

The unemployment rate fell to 6.9 percent in June. State economist Bill Anderson says it’s the first time since the height of the recession that the state’s unemployment rate has dipped below seven percent, but he cautions that the number of people still not working remains high.  

Foreclosures in Nevada jumped nearly 40 percent last month, making the state second in the nation for the highest residential foreclosure rate. 

The real estate analytics company RealtyTrac reported yesterday (Wednesday) that one in every 555 Nevada residential properties was subject to a foreclosure filing in April, behind only Florida

Nevada saw 893 foreclosure starts, 681 notices of pending trustee sales and 548 repossessions.

Reno-Sparks Convention and Visitors Authority

The three largest veterans organizations in the U.S. are all coming to Reno for upcoming conventions, events that are estimated to bring in more than $36 million to the region.  The Reno-Sparks Convention and Visitors Authority recently announced that the American Legion, the Veterans of Foreign Wars, and the Disabled American Veterans will all be headed to Reno over the next five years. Authority President Chris Baum says having a one-story convention center set Reno apart from competitors like Phoenix, Miami, and San Juan: 

Thomas Vatany / www.planespotters.net

  Nonstop flights from Reno to London were supposed to take off later this year, but the service has already been canceled. Reno Public Radio's Michelle Bliss reports.

Thomas Cook Airlines made the call after learning that its customers would have to wait at least three hours to clear U.S. Customs at Reno-Tahoe International Airport. Brian Kulpin, with the airport, says it all comes down to staffing.

"There's a need for more customs agents here in Reno," he explains. "We just added one at the beginning of April, but it's not enough to do the job faster."

Regional Transportation Commission

The controversial Southeast Connector roadway project received final federal approval this week. Reno Public Radio's Michelle Bliss reports that the thoroughfare will eventually connect South Reno to Sparks, easing congestion on Interstate 580 by offering an alternate route to many job sites, including Tesla's gigafactory.

At a press conference held by the Regional Transportation Commission Thursday in Reno, RTC Chair Neoma Jardon said this is more than just a new road, it's a job creator.

Nevada has the fewest wineries of any state, with just four filling our glasses today. While advocates want to grow the industry, there’s fear that the state could become a mere “suburb” of California wine with few bottles bearing a homegrown stamp. Reno Public Radio’s Michelle Bliss reports.

There are no commercial wineries in Washoe County, but UNR Professor Grant Cramer has been making wine in Reno for a decade.

Governor Brian Sandoval delivered testimony during a joint committee hearing Wednesday for his plan to increase business license fees in order to raise money for K-12 education. Reno Public Radio's Michelle Bliss reports.

Despite wide support for improving the state's lagging education system, Sandoval is charged with convincing a Republican-controlled legislature to raise taxes for the cause.

In a rousing speech, Sandoval made his case, saying economic development will suffer if the state can't create more revenue and devote it to students.

Alexa Ard

In the past, innovation often took place in isolated, suburban office parks where businesses could keep their "secrets secret." That's according to Jennifer Vey, a fellow for the Brookings Institution who studies the revitalization of urban areas and metropolitan economies.

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