Sustainable Economic Development: 42nd Annual LV Perspective

FOR IMMEDIATE RELEASE

June 23, 2022
Media Contact: Carolyn Kresser, carolynk@lvgea.org

**PRESS RELEASE**

42nd Annual Las Vegas Perspective Addresses the Need for Sustainable Economic Development

LAS VEGAS — The Las Vegas Global Economic Alliance (LVGEA), in partnership with the Perspective Council, hosted the 42^nd annual Las Vegas Perspective today at The M Resort. With over 700 registered participants joining in-person and online, the 2022 event is the most attended in-person event in the organization’s history.

This year’s theme centered on “Sustainable Economic Development.” While the LVGEA is celebrating 10 years of bringing high quality jobs and companies to Southern Nevada, there are challenges ahead. LVGEA President & CEO Tina Quigley outlined the region’s main issues moving forward: land, workforce/talent, and water.

“The LVGEA will begin facilitating more community conversations about these very serious issues,” said Quigley. “We have the ability to be agile, to shift, and to pivot. We have the opportunity to show the world that a desert community can survive and thrive. Yes, it’s a lot of pressure, but we’re Las Vegas! If anyone can do it, we can.”

The first speaker, Dr. DeRionne Pollard, President of Nevada State College, brought a national perspective to the higher education and workforce development conversation. She emphasized that economic development is an ecosystem, with workforce and higher education being two elements of that larger ecosystem.

“Each of these elements work in concert with each other,” sad Dr. Pollard. “We each tend to focus on our little part, but if we’re only focusing on one part, we’re missing the bigger picture. We must recognize this isn’t a zero-sum game, and that each of these elements are essential to a collective growth and advancement. We cannot be complacent about any of the elements of the ecosystem.”

Internationally renowned water expert Cindy Wallis-Lage took the stage next to discuss water security and its importance to economic growth. While Southern Nevada has made progress relating to water conservation, Wallis-Lage reiterated that residents and community leaders must undergo an overall mindset shift when it comes to water resources.

“What got us here, won’t get us there,” said Wallis-Lage. “The reality is, things are changing, and we have to change with it. I use the word, ‘drying climate,’ and that’s intentional. Because when we say drought, we’re saying we think this will end. We’re saying we’re going back to where things were. And that’s not the case. We have a new normal.”

Brian Gordon, Principal with Applied Analysis, wrapped up the event with an economic analysis and forecast for the region. He noted that with inflation at a 40-year record high, the one word on everyone’s mind is ‘recession.’

“Things are moving very quickly,” said Gordon. “Just a few months ago, a survey of economists showed only 28% predicted a ‘hard’ landing for the economy, whereas today that number is 80%. Things are changing rapidly, and I think that’s why we’re all feeling a little bit of this economic uncertainty.”

Gordon did mention that while the region is facing challenges relating to housing, land, workforce, and water, he sees progress when it comes to water conservation and economic diversification into the sports and entertainment industry.

“This is the time for our community to grow up,” said Gordon. “We’ve made great strides, but we’re not there yet. It’s time to make bold decisions and move the economy forward. It’s time to start acting our age.”

Las Vegas Perspective is the region’s go-to source for community and economic development information, analysis, and forecasting. The event and accompanying data book have become a valuable resource for a diverse group of companies and organizations, both large and small in the region.

For photos from today’s event, click here.

Learn more about the event and view the speakers’ presentation slides at vegasperspective.com.

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About Las Vegas Global Economic Alliance
The Las Vegas Global Economic Alliance (LVGEA) is a public-private partnership dedicated to growing the economy in Southern Nevada through connectivity, community development, and strong business recruitment, retention, and outreach. As Southern Nevada’s regional development authority, the LVGEA’s vision is to help residents thrive in a global economy by fostering a more prosperous, diverse, and connected regional economy. To learn more, visit lvgea.org.