Clark County - File #: 21-655

• File #: 21-655
• Status: Agenda Ready
• File created: 4/27/2021
• In control: Clark County Board of Commissioners
• On agenda: 5/4/2021
• Title: Receive a presentation from the Las Vegas Global Economic Alliance on the Target Industry Validation Study. (For possible action)

Date	Action By	Action	Result
5/4/2021	Clark County Board of Commissioners	No Action Taken by the Board; Agenda note: DISCUSSION: Following introduction of the item, the Board was addressed by Jonas Peterson, Chief Executive Officer for the Las Vegas Global Economic Alliance, who provided an update on the recent Target Industry Validation Study; evaluated the performance of previous target industries; evaluated employment change; measured the impact of the pandemic on employment; identified new target industries with the most potential; and aimed to develop the workforce.; Discussion followed regarding topics including attracting the industries; train and transition the existing workforce to the new targeted career paths; infrastructure, including increased connectivity; overcoming obstacles, including a lack of water resources and training; and the need to link occupations to skill sets.

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

Petitioner:

Yolanda T. King, County Manager

Recommendation: 

title

Receive a presentation from the Las Vegas Global Economic Alliance on the Target Industry Validation Study.  (For possible action)

body

FISCAL IMPACT:

Fund #:	N/A	Fund Name:	N/A
Fund Center:	N/A	Funded PGM/Grant:	N/A
Amount:	N/A
Description:	N/A
Additional Comments:	N/A

BACKGROUND: 

In December 2020, Clark County completed a Community and Economic Development Strategic Plan for the county.  The Economic Development Strategic Plan provides for a strategic direction for purposeful development to further diversify the economy and address the needs of the county’s diverse communities.  Clark County’s Office of Community and Economic Development will play a critical role in enabling development throughout the region by assisting new, established, and prospective businesses in entering the Southern Nevadan market.  Goal #2 of the Strategic Plan addresses the need to “Accelerate Economic Diversification”.  Many organizations are focused on this goal, including the Governor’s Office for Economic Development (GOED), the Las Vegas Global Economic Alliance (LVGEA), and various municipal departments throughout Clark County.  Given the focus on this goal by many jurisdictions, Clark County must be strategic to avoid the duplication of efforts.

In 2017, the LVGEA released a target industry validation study to identify new and emerging industries in Southern Nevada to diversify the region’s economic base.  The initial study developed a list of target industries in which Southern Nevada should focus its efforts.  Since the release of the initial study, much has changed in Southern Nevada in particular with the onset of the COVID-19 pandemic.  LVGEA recently engaged SRI International in updating the target industry validation study.  To avoid duplication of efforts, Clark County provided funding to assist in updating the validation study.  LVGEA will present the results of the updated validation study.