LVGEA Releases Southern Nevada Workforce Report Card

img_3080The Southern Nevada Workforce Report Card can be viewed here

On Wednesday, March 29, Las Vegas Global Economic Alliance (LVGEA) President and CEO Jonas Peterson presented the Southern Nevada Workforce Report Card during the second-annual BE (Business + Education) Summit, an event that brought together the community’s business leaders in support of improving public education in Clark County.

The Workforce Report Card is the result of research conducted by the LVGEA that delves into the important and evolving workforce needs of the region. Keeping in mind the direct connection between education and economic development, this report outlines discussions on how workforce drives the economy and is a holistic approach to how Southern Nevada can bring in, develop and retain local talent.

“The powerful theme that echoes throughout this study is that our workforce is underrated and misunderstood,” said Peterson. “The truth is, Southern Nevada has many positive strengths already that put it at a competitive advantage. Our workforce is younger, socially intelligent, incredibly diverse and more productive than other major markets.”

During BE Engaged, Peterson encouraged business leaders to make educational initiatives necessary to attract and develop their talent. As recommended in the report, innovative development proposals like mentoring programs, educational assistance, cross-training initiatives and job training programs can help local workers’ skill sets and expertise.

The report and Peterson’s presentation also included the following highlights:

  • Southern Nevada is a talent magnet, having attracted more than half a million workers from California and Arizona alone since 2000.
  • Since 2000, Las Vegas has been the fastest growing metropolitan area in the United States, giving Southern Nevada the unique ability to transform the skills of its workforce the way other markets cannot.
  • The number of workers with bachelor’s degrees has doubled since 2000, causing institutions in the region to constantly evolve in order to help develop and improve the local workforce.
  • Contrary to belief, more locals are staying local, with the number of Nevada-born residents being up more than 55 percent since 2005.
  • While there are existing challenges in the school system, improvements have been made in various pockets of excellence. For instance, the high school graduation rate in Southern Nevada has increased 11.4 percentage points in the last decade.
  • Employment in Clark County has reached record-high numbers, and the regional economy is diversifying to become more resilient.

The LVGEA has uniquely positioned itself to work with hundreds of companies each year and understand the demands and needs of incoming companies before anyone else. This report details why Southern Nevada’s workforce has the potential to be stronger than other markets, and is one of the LVGEA’s many efforts to further strengthen the workforce development system in the region.

To learn more, view the report here.