In The News: Center for Business and Economic Research
In Nevada, about 17% of workers earn their income from tipped jobs, which is the highest rate in the United States, according to the Center for Business and Economic Research at the University of Nevada Las Vegas. Tipping is such a hot topic in Vegas that both Presidential candidates promised to eliminate taxes on tips to increase these workers' incomes. One study found that Nevada doesn’t even crack the top five for annual casino dealer salaries.
Las Vegas Valley residents need to make $111,416 a year to “live comfortably,” according to a new Banking Rates study. This puts the valley as the 16th most expensive metro to live in the U.S. out of 50 metros analyzed with the Las Vegas Valley ranking above such cities as Atlanta, Nashville and Phoenix.
In March, GOED unveiled a study by UNLV’s Brookings Mountain West, Center for Business and Economic Research and Transportation Research Center that found that state economic development is siloed across jurisdictions. Unlike in neighboring regional metropolitan centers, Southern Nevada lacks a governance structure to facilitate the planning and coordination needed to realize regional economic and infrastructure priorities.
Las Vegas is leaning into sports. There’s a shiny new NFL stadium, which in February hosted the Super Bowl. Annual Formula 1 races across the Strip. UFC fights in the Las Vegas Sphere. Arenas hosting NHL and WNBA teams.
Las Vegas is leaning into sports. There’s a shiny new NFL stadium, which in February hosted the Super Bowl. Annual Formula 1 races across the Strip. UFC fights in the Las Vegas Sphere. Arenas hosting NHL and WNBA teams.
Las Vegas is leaning into sports. There’s a shiny new NFL stadium, which in February hosted the Super Bowl. Annual Formula 1 races across the Strip. UFC fights in the Las Vegas Sphere. Arenas hosting NHL and WNBA teams.
Las Vegas is leaning into sports. There’s a shiny new NFL stadium, which in February hosted the Super Bowl. Annual Formula 1 races across the Strip. UFC fights in the Las Vegas Sphere. Arenas hosting NHL and WNBA teams.
There are a lot of construction crews at work around Las Vegas-area casinos nowadays. Capital improvement projects are one way to tell the health of the country’s economy. One component of the gross domestic product, business investment growth, grew 4.6 percent in the second quarter.
Could Sin City be the next Tinseltown? Two veteran commercial developers, a Nevada state senator and a Hollywood star think, with the help of carefully crafted tax incentives, the answer is a resounding yes.
The world of politics is very contentious these days, especially in the heat of a presidential campaign season. However, in a rare case, both parties agree on one thing: eliminating taxes on tip income. Actually, they seem to have found common ground in taxing Social Security benefits and building a border wall, at least that is what I read.
For a city like Las Vegas, which depends on immigrant labor across several industries, a mass deportation could hinder the local economy in a way similar to the pandemic, one expert said.
From the valets parking cars to the dealers at the blackjack tables to the bartenders at the city's many bars, Las Vegas relies on people working for tips.