Expanding to Northern Nevada: Economic Benefits and Business Advantage
small-town community with big city-amenities and what this means for your family and employees. But what benefits does expanding to northern Nevada have for your business? Here are eight compelling facts about the local business climate.
Transportation & Market Access
With borders on five states, Nevada provides efficient transportation to the eleven western states. Northern Nevada is a hub of an extensive transportation network on two major highway corridors: Interstate 80 and U.S. Highway 395. Interstate 80 connects Reno/Sparks to San Francisco to the west and Salt Lake City to the east. U.S. Highway 395 runs northbound to Oregon, Washington and Canada & southbound to Los Angeles.
Over 65 trucking companies provide overnight delivery service to the majority of the eleven contiguous western states (53 million people) and two-day delivery to over 63 million people via truck and rail freight shipping. State regulation allows for “triples” across most of the west, making Reno a convenient location for assembly/disassembly of loads headed both east to west and north to south.
Reno/Tahoe International Airport provides air cargo service from Capital Cargo and DHL and daily service from FedEx and UPS to their respective hubs.
OnTrac, UPS, and FedEx all have operations in northern Nevada. OnTrac provides overnight delivery at ground shipping prices, requiring FedEx and UPS to compete to provide an economic one-day delivery footprint. This is a strong story for our distribution model.
The Reno and Sparks market has an existing labor force of 240,000 individuals. Additionally, we are located close to San Francisco and Sacramento and the quality of life in northern Nevada attracts young professionals. Our labor pool consistently receives top marks for productivity and quality.
Union Pacific Railroad links 23 states plus every major west coast port and provides service to the east through its major gateways of Chicago, St. Louis, Memphis and New Orleans. The market is also served by the BNSF Railway, one of the largest freight railroad networks in North America.
Business Tax Climate
Nevada was ranked #3 in the United States for our business-friendly tax climate by the Tax Foundations 2012 State Business Tax Climate Index. Here’s a partial list showing why we deserve to be in the top three:
No corporate tax
No personal income tax
No inventory tax
No unitary tax
No estate and/or gift taxes
No franchise tax
No inheritance tax
No special intangible tax
Technology and E-Commerce
More and more technology-driven companies have been moving to northern Nevada – and not just by chance. Our e-commerce and technology market is built on a solid foundation, as evidenced by Apple continuing to expand its presence and Rack Space announcing a new data center build. Switch recently completed the world’s largest data center, and in April 2018, Google announced the purchase of 1,210 acres. TESLA is building a $5 billion, 10 million sq. ft. lithium battery manufacturing center in Reno and e-commerce continues to drive demand for large Class A industrial buildings – just look at recent transactions from Amazon.com, Petco, Zulily.com and Chewy.com, all of which are driving area growth.
If our combination of economic benefits and excellent quality of life appeal to your company and you are considering leasing or buying industrial real estate in northern Nevada, Beki Dobson at Miller Industrial Properties can help.