Reno-Sparks Expanding Logistics and Industry

A survey of Washoe County advanced manufacturing and advanced logistics companies indicates continued job growth and expansion the next three years.  The survey, conducted by Business Builders, a volunteer-driven economic development program encouraging the growth and stability of local business for the Economic Development Authority of Western Nevada (EDAWN), reports that the 79 manufacturing and logistics companies surveyed project future expansion resulting in 1,334 new jobs, more than 1.5 million additional square footage and nearly $180 million in new capital investment by 2010. 

The survey marks the first assessment of the key business sectors identified through the Target2010 economic planning process. Phase One includes two of the business sectors, advanced manufacturing and advanced logistics. Phase Two will encompass the remaining four key business sectors: business and financial services, clean energy, life sciences and software. This realignment of the Business Builders to twice a year replaces the quarterly industry surveys previously reported by EDAWN.

The Phase One Business Builders survey reports executive confidence in both manufacturing and logistics, with 62 percent of company executives indicating planned expansions in jobs and/or facilities in the next three years, an estimated investment of nearly $180 million.

“Eighty percent of the companies surveyed introduced new products in the last five years and 73 percent plan to introduce new products in the next two years, signaling confidence in the marketplace,” said Donna Crooks, business expansion manager for EDAWN.  “These key business sectors represent excellent potential for growth, innovation, high-wage job creation and economic impact, as determined by the Target2010 strategic economic plan. They will play an important role in northern Nevada’s future.”

While the area workforce earned high marks for productivity (5.5 out of 7 points), workforce availability continues to be a challenge for local businesses, ranking the lowest at 3.14 out of seven. Ninety-two percent of executives indicate their budgets for training will increase in the next three years. Additionally, the largest portion of the budget will be spent on new job training. 

The survey conducted from August 2006 to December 2006 asked open ended questions about the community’s strengths as a place to do business.  The top strengths mentioned most often were business climate and geographical location.  The companies cited the labor force and transportation as areas the community can improve.

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