Manufacturing Industry in Nevada
To provide an overview of the manufacturing industry in Nevada with details on the following key components: industry trends, industry outlook, industry associations, and the regulatory environment for the industry; and should exclude details on manufacturing jobs in the state.
Insights in to Nevada's Manufacturing Industry
- Nevada's manufacturing industry is playing a leading role in adding jobs, increasing economic output and diversifying its industrial base.
- According to Nevada’s Department of Employment, Training, and Rehabilitation (DETR), Nevada's manufacturing base "grew at a faster rate than any other sector with an increase of 14%", and the industry was the "largest contributor to the state’s gross domestic product in the third quarter of 2018, totaling 15.2% or $7.6 million."
- There is deliberate focus on bringing more manufacturers to Nevada, with "the Nevada Governor’s Office of Economic Development (GOED) listing manufacturing as one of the seven key industries that will help diversify the state’s economy and provide good-paying jobs to Nevadans in the future."
- In attracting more manufacturers, Nevada provides affordable, industrial-scale real estate, major industrial parks already developed, prime land available and zoned for industrial use, and competitive utility rates for commercial operations.
Insights in to the Regulatory Environment in Nevada
- Nevada is recognized as one of the most pro-business states in the country due to its low tax and regulation, in general.
- For the manufacturing sector it offers zero inventory tax and advantages in duty fees, taxes and international shipping costs which ensure that companies are able to keep their operations costs low.
Sample of Manufacturing Industry Associations in Nevada
- "Nevada Manufacturers Association (NMA) is a professional association dedicated to promoting and maintaining a strong, healthy, competitive manufacturing sector in Nevada." It was established in 1980 and has a membership of about 3,000 small, medium, and large manufacturing and warehousing businesses in Nevada.
- Nevada Industry Excellence is a non-profit organization started in 1995 that provides services to "small and medium-sized companies, primarily manufacturers, in four primary areas: lean technology, quality systems, energy and growth."
Summary of Findings
- In this first hour of research, we were able to provide sample insights in to the manufacturing industry in Nevada that may inform the current trends and projected outlook into the industry. We also found some information on the regulatory environment and examples of associations that operate in, and support the industry players.
- In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
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