Economy
NV gets $150M for enhanced public transit along Maryland Parkway corridor
Las Vegas was awarded nearly $150 million in federal funding for a transportation project designed to create more efficient, frequent, and speedier bus transit between the Harry Reid International Airport and the Las Vegas Medical District in the north. The 13-mile Maryland Parkway Bus Rapid Transit project represents the largest single transit investment the Regional […]
Thanks to order from Lombardo appointee, ratepayers to foot bill for NV Energy employee bonuses
Nevadans, many of whom are struggling to pay their electricity bills, are now being asked to reimburse NV Energy for $5.75 million in employee bonuses, thanks to an amended order from Gov. Joe Lombardo’s appointee to the Public Utilities Commission, Randy Brown. Brown, the only new member of the PUC appointed by Lombardo, amended a […]
NV Energy not looking out for customers, say energy industry reps
NV Energy is failing to get the best deals for its customers, resulting in higher than necessary rates, according to experts who say compared with other electric utilities in the west, the company is lagging in leveraging the lowest-cost, and most environmentally friendly options. In September, an NV Energy executive told Clark County commissioners that […]
Local governments bet public money on Super Bowl to diversify economy
Clark County and the City of Las Vegas will join North Las Vegas in spending $850,000 to woo big business leaders during two days of Super Bowl weekend festivities focused on exposing CEOs to Southern Nevada and all it offers for work and play. The money will augment more than $1 million to be raised […]
Extreme heat costs rural Nevada farmers and taxpayers everywhere
Nevada is known for its mining industry, but during economic downturns residents in rural parts of the state rely on agriculture to fill the gap and keep afloat. A rise in the severity and frequency of extreme weather events caused by climate change have added millions of dollars in losses to the agricultural sector in […]
U.S. default could begin June 8 without agreement, top economist tells Congress
WASHINGTON — Unless Congress can strike a deal, the U.S. Treasury will likely default on the nation’s bills starting June 8, triggering major consequences for the economy, according to Mark Zandi of Moody’s Analytics. The risk assessment organization’s chief economist testified before the U.S. Senate Committee on the Budget Thursday and urged lawmakers to suspend […]
Who wants to have a conversation on corporate landlords (and the taxes they do or don’t pay)?
If you are a renter, who owns your home? Who owns the advertising billboard you pass everyday on your commute to work? Who owns the casino where the event advertised on that billboard is happening? Who owns the office complex where you work? Increasingly, the answer in Nevada is a real estate investment trust, or […]
NV Energy gets green light to seek rate hikes for Greenlink
Nevada’s electric company is one step closer to sticking customers with the bill for a massive $2.5 billion transmission line project, despite assurances from NV Energy’s CEO to lawmakers that any potential rate hike would be imposed only after the project is completed and in service. “We will put thousands of people to work today […]
Secretary of State warns Nevadans against tax filing frauds
Secretary of State Cisco Aguilar reminds Nevadans to be on the lookout for unregistered tax preparers this tax season. “Some of our most vulnerable communities are falling for fraudsters who say they have registered tax preparers and take advantage of those who may not know the signs to look for,” Aguilar said in a press […]
Silicon Valley Bank’s collapse differs from our last financial crisis
After the largest U.S. bank failure in more than a decade, regional bank stocks plunged on Monday as the federal government — with the 2007-2008 financial crisis still a fresh memory for many — rushed to reassure Americans that the U.S. banking system was stable. President Joe Biden told Americans that the risks taken on […]
Lombardo’s desire for public land sales could boost warehouse economy
Gov. Joe Lombardo’s support for the sale of federal lands to developers would increase the state’s economic resilience and decrease its reliance on tourism, say proponents. It would also likely cement Southern Nevada’s place in the warehouse boom. “I would like to see us, in coordination with our congressional delegation, promote a more predictable approach […]
GM commits $650M to develop Nevada lithium mine tangled in federal lawsuit
General Motors plans to invest $650 million in Canada-based Lithium Americas to develop the Thacker Pass mine in Nevada, a project that’s faced intense opposition from conservation groups and tribes in the state. Under the deal, General Motors will make a joint investment with the lithium mining developer — representing what the companies called the […]