Nevada: New Business Is Welcome, New Taxes Are Not
Southern Nevada is a region on the rise, and companies who can go anywhere else are choosing to be in the center of this vibrant economy.
As the regional development authority of Southern Nevada, the Las Vegas Global Economic Alliance (LVGEA) plays a vital role in growing the market through connectivity, community development and aggressive business recruitment, retention and outreach, in order to help businesses realize the value of the region.
With one of the most affordable business climates in the U.S., Southern Nevada offers advantages unlike anywhere else. Located in Nevada, where there is no personal income tax, no corporate tax and no inventory tax, companies are able to keep their operation costs low. With its tax structure and economic incentives program, Nevada is widely recognized as one of the most pro-business states in the country. It also ranks #1 in the American Dream Index (Forbes) and #1 in Growth Potential (Business Facilities).
Southern Nevada is strategically located within a day’s drive from 60 million consumers. With one-day rail routes to Salt Lake City and Los Angeles, it offers an ideal distribution point in the southwest United States. As the 2nd-busiest origin and destination airport, McCarran International Airport offers direct access to 153 markets around the world as well as some of the lowest corporate annual travel costs in the country. The region also ranks #1 in transportation systems, with its quality bridges, roads and low commute times (U.S. World News & Reports).
The Las Vegas tourism economy attracts 43 million visitors annually, making it one of the most globally connected cities in the U.S. Not only is it the best place to visit, but as the #1 trade show destination, it is the ideal place to meet and do business.
Because of the high quality of life and low cost of living, more people are also making the move to Las Vegas.
Currently with 2.2 million residents, this number is projected to grow to 2.7 million by 2025. Southern Nevadans not only have the world-famous Las Vegas Strip in their backyards, but they have the advantage of being within driving distance of unique recreation activities and national parks like Mt. Charleston, Lake Mead and the Grand Canyon.