When you mention Las Vegas, the first thought that comes to mind is casinos, bright lights, or partying the night away. Recently, Las Vegas has gained popularity as one of the best cities to start a new business.
With its ready workforce, low initial funding requirement, low taxes, and affordable services, Las Vegas is an excellent location choice for those looking to start a business. Many business owners are also planning to move their operations to Vegas, considering the advantages the city offers.
Here are more reasons why Las Vegas is a great place to start up or relocate your company.
Opportunity Zones
The City of Las Vegas Economic and Urban Development Department (EUD) is an accredited member of the International Economic Development Council. It runs the city’s redevelopment agency, encourages new development and redevelopment, and offers a range of incentive programs to promote growth. It helps in creating connections between innovative companies in Las Vegas.
Some of the city’s development projects include Symphony Park, Cashman Center, the Las Vegas Medical District, and Enterprise Park. Here’s what each of the projects has to offer. (City of Las Vegas, 2021)
Symphony Park
Symphony Park is one of the city’s most exciting and prime locations that offers a restaurant, retail, or mixed-use development opportunities. It is also home to arts, culture, medicine, and science. The park is located in the heart of downtown Las Vegas and spans over 61 acres.
Symphony Park is centrally located with easy access to U.S. 95 and Interstate 15. It is adjacent to the World Market Center Las Vegas, Molasky Corporate Center, a Class-A LEED-certified office tower, and the highly-trafficked outlet shopping mall, Las Vegas North Premium Outlets. (Las Vegas City Hall 2019)
Symphony Park Existing Businesses
Location of existing businesses tells a prospective business owner that there is already business synergy happening in an area. Symphony Park featured businesses include the Discovery Children’s Museum, The Smith Center for the Performing Arts, the Cleveland Clinic Lou Ruvo Center for Brain Health and more plans for mixed-use structures featuring 1st floor retail establishments with residential units above. Check out this video to visualize the big picture.
Cashman Complex
Cashman Complex offers remarkable flexibility in its ability to host a variety of events. The 483,000 s.f. facility is prime for sports, theater and exhibit space.
Located within Cashman Complex is the Innovation District, a center for testing groundbreaking technologies. The City of Las Vegas developed it to encourage and attract tech companies. A demonstration site is currently located within the Fremont East Entertainment District (FEED). (City of Las Vegas, 2021)
Cashman Location and Access
Cashman Center is located close to Interstate 15 and U.S. 95. A mass transit hub is being planned as well as improvements to Las Vegas Boulevard. (LasVegasNevada.gov, 2019)
Las Vegas Medical District
The Las Vegas Medical District is a collaborative effort between the City of Las Vegas and the downtown Las Vegas medical and health care community. The LVMD aims to create an environment that supports the future and continued development of businesses and real property within the district. Since it is centrally located and easily accessible from the freeway, it is ideal for business.
Upcoming Medical District Development
Some exciting infrastructure projects are being planned to improve access and move efficiently and safely around the LVMD for pedestrians and automobiles. One example is the improvements along the Martin Luther King, Jr. Blvd with enhancements to sidewalks, streetscape amenities, and facilities.
Roadway infrastructure improvements are planned to start in 2021. Also, the current Las Vegas Medical District Area Infrastructure Upgrade Program includes three areas and phases. (Las Vegas Medical District, 2021)
Enterprise Park
The City of Las Vegas has developed this 75-acre business park, located on the southwest corner of Lake Mead and Martin Luther King, Jr. boulevards. Under the city’s zoning standards, the Las Vegas Enterprise Park is zoned for mixed-use development. These standards provide an environment for developing modern administrative facilities, research institutions, and specialized manufacturing operations. Enterprise Park offers attractive features for civic, light-manufacturing/assembly, medical office, and commercial retail businesses.
Enterprise Park Upcoming Development
Enterprise Park, located on the west side of Las Vegas, has a rich and diverse history. The area began in 1904 as a hub for the railroad which brought additional commerce to the area. This is why it is ready to create a unique model for commercial development. (City of Las Vegas, 2019)
Incentives
According to LasVegasNevada.gov, incentives can make a massive difference in launching new businesses, kick-starting development, and reimagining properties. There are a range of programs that encourage growth and help companies achieve their vision.
With its inspiring atmosphere, Las Vegas sparks growth and motivates business owners to create a corporate home in the city. The city wants you here! Nothing has been left to chance as Las Vegas diversifies its offering for businesses with amenities, accommodations, conference space and tax incentives.
Works Cited
“City of Las Vegas Opportunity Zone Projects.” OppZone Portal, City of Las Vegas, 2019, clv.oppzoneportal.com/about.
Symphony Park. Las Vegas City Hall, 2019, lasvegasnevada.gov/Business/Economic-Development/Symphony-Park.
“Cashman Complex.” LasVegasNevada.gov, 2019, lasvegasnevada.gov/Business/Economic-Development/Cashman-Complex.
“Las Vegas Medical District.” LVMD Las Vegas Medical District, 2021, lasvegasmedicaldistrict.com/lvmd-development/.
“Enterprise Park.” LasVegasNevada.gov, files.lasvegasnevada.gov/eud/Enterprise-Park.pdf.
“Las Vegas Economic Development.” Las Vegas Nevada, Las Vegas City Hall, 2019, lasvegasnevada.gov/business/economic-development.
