MAY 19 Issue - Vegas Business Digest Recap

MAY 19 2022 / ISSUE NO. 74 / ARCHIVE

This Week's Top Stories

Nevada’s Unemployment Rate Down in April

A map of Nevada (Photo credit: KeithBinns from Getty Images Signature)

CARSON CITY, NV - According to the Nevada Department of Employment, Training and Rehabilitation’s (DETR) April 2023 economic report, Nevada lost 2,900 jobs over the month. The state’s unemployment rate in April is 5.4 percent, decreased by 0.1 percentage point from 5.5 percent in March and increased by 0.2 percentage points when compared to April 2022.

Two Luxury Apartment Buildings Break Ground in Downtown Las Vegas

Rendering of the two buildings (Courtesy of GDA Architects)

Southern Land Company broke ground on two luxury apartment buildings at Symphony Park in Downtown Las Vegas. Combined, the two new buildings will total more than 730,000 square feet and will bring 545 new units to the market.

Las Vegas’ First Cannabis-Friendly Hotel Opens on June 2

Pool (Courtesy of The Lexi Hotel)

Las Vegas’ first cannabis-inclusive hotel, The Lexi Hotel, is scheduled to open on June 2. Located nearby the Las Vegas Strip and Downtown Las Vegas, the property features 64 guest rooms and suites in which each includes an advance RestorAir filtration system that employs Advanced Oxidation Cell technology.

Rockefeller Group Acquires Second Las Vegas Site for Industrial Park Development

Cheyenne Industrial Park rendering (Courtesy of Rockefeller Group)

Rockefeller Group announced today that it has purchased 7 acres of land in North Las Vegas for $8.5 million to develop two industrial buildings totaling 145,630 square feet. The project, Cheyenne Industrial Park, is located at 3102 North Lamb Boulevard and is fully entitled. Construction will begin by the end of year.

Hospitality Tech Firm Agilysys Opens West Coast HQ in Southwest Las Vegas

Narrative (Courtesy of LaPour Partners and G2 Capital)

Agilysys, a publicly listed hospitality enterprise software company, is opening its west coast headquarters at the Narrative office building in southwest Las Vegas Valley. The company is occupying 36,181 square-foot of office space for its 130 local employees.

Las Vegas Multifamily Sees Rent Decreases, More Available Units

Photo by Grant Cai / Unsplash

According to the Nevada State Apartment Association’s latest report, the greater Las Vegas valley continues to see a decrease in rent prices while the number of available units has grown. As rents around the valley have lowered by 2.2% in the last year, the average rent in Las Vegas is currently $1,430, which is below the national average of $1,660.

LVGEA Announces Four New Board Members

L to R: Jason Adams, Molly Hamrick, Scott Muelrath, and Mary Beth Sewald (Courtesy of LVGEA)

Las Vegas Global Economic Alliance (LVGEA), one of the eight Regional Development Authorities in Nevada by the Governor’s Office of Economic Development for 2022-2023, announced four new members to its LVGEA50 Board of Directors.

Gaudin Ford’s Commercial Vehicle Department raises $40,000 for the Boys & Girls Clubs of Southern Nevada

Check donation ceremony (credit: Gaudin Ford Commercial Vehicle Department)

This week, the Gaudin Ford Commercial Vehicle Department presented a $40,000 check to the Boys & Girls Club of Southern Nevada for the needs of the James Clubhouse located in North Las Vegas.

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