Development · Valley-wide
Las Vegas Global Economic Alliance Renames Itself the Las Vegas Regional Economic Partnership
The state-contracted business-booster group says its mission and services continue. The change completes an identity reset called for in a strategic plan its board adopted in June.
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What happened
The Las Vegas Global Economic Alliance, a Southern Nevada business-booster group, has a new name. The Las Vegas Review-Journal reported that the organization announced Friday it is now called the Las Vegas Regional Economic Partnership.
According to a news release cited by the Review-Journal, the new name completes an "identity reset" that the group's board called for in a strategic plan adopted in June. The organization said its mission, partners and services "continue without interruption."
Who the group is
A state-contracted regional authority
The Review-Journal described the group as one of several regional authorities contracted by the state to fuel economic development in Nevada. The newspaper referred to it as a business-booster group serving Southern Nevada.
Leadership behind the change
Danielle Casey is president and CEO of the organization and took over leadership last year, the Review-Journal reported. In the release, Casey said the name tells a site selector, chief executive, elected official or community member "exactly who we are and who we represent."
The strategy behind the rebrand
Reducing reliance on tourism
The group released a 32-page strategic plan this year. According to the Review-Journal, the plan describes how the organization aims to lower Southern Nevada's dependence on tourism by increasing the share of higher-wage sectors in the regional economy.
The plan states that the local economy remains heavily concentrated in leisure and hospitality. It says that concentration is "leaving the region vulnerable to economic disruption and limiting long-term wage growth and resilience."
Recruiting industry and courting site selectors
The Review-Journal reported that the plan includes industry recruitment. It also calls for stronger connections with brokers and site selectors.
Why it matters for Southern Nevada
Around 25 percent of Las Vegas-area employees work in leisure and hospitality, according to U.S. Bureau of Labor Statistics data cited by the Review-Journal. That is by far the highest share of any industry in the area.
The Review-Journal noted that Southern Nevada is a casino-heavy region with a track record of economic booms and busts. Like many other officials past and present, Casey has set out to diversify the region's employer base.
The organization says its mission, partners and services continue without interruption under the new name. Readers following efforts to bring new employers and projects to the valley can find related coverage in our development news section.
What to watch next
- How the renamed Las Vegas Regional Economic Partnership carries out the industry recruitment called for in its 32-page strategic plan.
- Progress on the plan's goal of building stronger connections with brokers and site selectors.
- Further steps toward the plan's aim of boosting the share of higher-wage sectors and reducing Southern Nevada's dependence on tourism.
