In collaboration with SRI International, LVGEA released au updated Target Industry Validation Study in 2021 to facilitate intentional economic growth and diversification in Southern Nevada.
View the full report here.
General & Advanced Manufacturing
Southern Nevada’s strong connections to the Mountain West and major population centers throughout the western Unites States make it a strong contender for manufacturing firms. Recent wins, such as the relocation of Haas Manufacturing to Southern Nevada, indicate the region has significant potential to attract general and advanced manufacturing firms.
Job Growth: +5,141 (+44%)
Average Earnings: $64,291
Fasting Growing Industries: Commercial Printing (except Screen and Books) (+430), Sheet Metal Work Manufacturing (+400)
Job Growth: +663 (+9%)
Average Earnings: $96,749
Fasting Growing Industries: Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing (+334), Pharmaceutical Preparation Manufacturing (+258)
Southern Nevada has long been a destination for those working in Creative Industries. While the gaming, tourism, and hospitality industries were the historical “pull” factors that attracted creative workers, Southern Nevada has established itself as a hub for creative talent beyond the Strip.
Job Growth: +399 (+8.9%)
Average Earnings: $76,532
Fasting Growing Industries: Architectural Services (+318)
Job Growth: -210 (-9.4%)
Average Earnings: $64,079
Fasting Growing Industries: Motion Picture and Video Production (+482)
Job Growth: -415 (-13.5%)
Average Earnings: $50,745
Fasting Growing Industries: Motion Picture Theaters (except Drive-Ins) (+374)
Job Growth: +1,051 (+23.5%)
Average Earnings: $109,829
Fasting Growing Industries: Promoters of Performing Arts, Sports, and Similar Events with Facilities (+581)
Information & Communication Technologies
Information & Communication Technologies (ICT) has performed strongly in Southern Nevada over the last decade. Growth accelerated significantly after 2011, particularly in ICT Professional Services, driven primarily by the increase in contact centers in Southern Nevada. Overall employment growth in contact centers reached 261% between 2011 and 2019, adding more than 10,000 jobs, and growth remained steady in 2020 during the pandemic.
Job Growth: +11,789 (+232%)
Average Earnings: $44,358
Fasting Growing Industries: Telemarketing Bureaus and Other Contact Centers (+10,562)
Job Growth: +4,251 (+79%)
Average Earnings: $117, 513
Fasting Growing Industries: Computer Systems Design Services (+1,243)
Transportation & Logistics Technologies
Transportation & Logistics Technologies remains an industry in flux due not only to the COVID-19 pandemic, but also the rapid introduction of new and advanced technologies to the workplace.
Increasingly, employment in this industry requires a high level of technical knowledge and skill development to work alongside technologies being introduced.
Job Growth: +11,434 (+165%)
Average Earnings: $49,574
Fasting Growing Industries: General Warehousing and Storage (+9,655)
Job Growth: +3,362 (+81%)
Average Earnings: $75,202
Fasting Growing Industries: Other Support Activities for Air Transportation (+1,257)
Job Growth: +2,403 (+45%)
Average Earnings: $119,028
Fasting Growing Industries: Scheduled Passenger Air Transportation (+2,363)
Job Growth: +94 (+65%)
Average Earnings: $89,072
Fasting Growing Industries: Aircraft Engine and Engine Parts Manufacturing (+102)
Business & Financial Services
Business & Financial Services has been a consistent engine for growth in Southern Nevada. While the COVID-19 pandemic adversely impacts employment in this industry, it is expected to recover and surpass 2019 employment by 2023.
Job Growth: +17,222 (+55.4%)
Average Earnings: $113,061
Fasting Growing Industries: Corporate, Subsidiary, and Regional Managing Offices (+8,849)
Job Growth: +7,303 (+14.8%)
Average Earnings: $42,920
Fasting Growing Industries: Security Guards and Patrol Services (+3,942)
Job Growth: +15,093 (+72.5%)
Average Earnings: $98,562
Fasting Growing Industries: Real Estate Credit (+964)
Southern Nevada has long been characterized be an underdeveloped healthcare sector that did not meet the needs of the local population. However, the region has made significant strides in growing this industry over the last decade.
Recent addition to the healthcare education pipeline in Southern Nevada, perhaps most notably the establishment of the UNLV School of Medicine, has increased the capacity of the region to meet its own healthcare workforce needs.
Job Growth: +11,250 (+39%)
Average Earnings: $79,393
Fasting Growing Industries: Offices of Physicians (except Mental Health Specialists) (+3,977)
Job Growth: +7,227 (+46%)
Average Earnings: $90,203
Fasting Growing Industries: General Medical and Surgical Offices (+6,112)
Job Growth: +3,218 (+46%)
Average Earnings: $43,458
Fasting Growing Industries: Nursing Care Facilities (Skilled Nursing Facilities) (+1,529)
Job Growth: +1,465 (+64%)
Average Earnings: $79,048
Fasting Growing Industries: Diagnostic Imaging Centers (+1,073)
While Clean Energy Generation remains very small (93 total jobs in 2019), supporting industries remain robust. In particular, Engineering & Support saw favorable growth between 2011 and 2019 (21% or 16,000 jobs) while HVAC & Plumbing Contractors, who install much of the energy and water saving technologies throughout Southern Nevada, saw 97% growth (4,680 jobs).
Job Growth: +1,599 (+21%)
Average Earnings: $108,321
Fasting Growing Industries: Solar Electric Power Generation (+46)
Job Growth: +89 (+3%)
Average Earnings: $130,887
Fasting Growing Industries: Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers (+280)
Job Growth: +1,599 (+21%)
Average Earnings: $108,321
Fasting Growing Industries: Engineering Services (+858)
Job Growth: +4,683 (+97%)
Average Earnings: $80,462
Fasting Growing Industries: Plumbing, Heating, & Air-Conditioning Contractors (+4,683)