VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
Issue link: https://www.ifoldsflip.com/i/114039
M A R C H 1 1 , 2 0 1 3 / Y O U R b u s i n e s s - t o - b u s i n e s s w e e k ly SPECIAL FOCUS SMALL BUSINESS This month, VEGAS INC highlights Southern Nevada's small business community. new megaresort expected to breathe life into north strip CHRIsTOPHER DeVARGAS THE LITTLE GUYS: Manager Tim McLaughlin helps a customer at Trish and Ed's Organics on South Eastern Avenue in Las Vegas. The independent grocer opened in May. BREAKING THE CHAIN Local mom-and-pop companies struggle to compete with national chain stores that abound in the valley By Richard N. Velotta senior staff writer In the go-go 1990s, when it seemed like announcements about new casino megaresorts were annual occurrences, the prevailing wisdom was "the more the merrier" and "a rising tide raises all boats." But that philosophy came into question in the late 2000s as Las Vegas and the rest of the country weathered the worst economic downturn in recent history. Local tourism numbers fell, hotel rooms sat empty, resort profits plummeted and proposed projects were abandoned. Last week's announcement of the first new megaresort in years signaled a potential sea change. The Genting Group, a Malaysian multinational company, announced that it will spend between $2 billion and $7 billion to build a 3,500-room Asian-themed resort on the Strip on land Boyd Gaming had planned for its Echelon project. Some analysts worry that Southern see MEGARESORT, page 16 By Eli Segall staff writer D riving south on Eastern Avenue from the 215 Beltway, there are more than a dozen shopping plazas with a seemingly endless stream of stores. ¶ You'll likely recognize all of them: Wal-Mart, Home Depot, Target, OfficeMax, Office Depot, Denny's, Coco's, In-N-Out Burger, Grimaldi's Pizzeria, Red Robin Gourmet Burgers, Firehouse Subs, Wendy's, Carl's Jr., Nothing Bundt Cakes, Freddy's Frozen Custard and Steakburgers, Gold's Gym, Discount Tire, Famous Footwear, Ross Dress for Less, Anna's Linens and Lowe's. ¶ And those are just some of the stores in the first mile. see RETAIL, page 14 Trusted for over 30 years by business owners and their families...the law firm to call for estate planning, probate and asset protection. INSIDE TODAY OUR FUTURE WORKFORCE | P. 6 The success of Nevada's schools affects all residents, children or not A NEW LOOK | P. 7 The LVCVA approves a $2.5 billion facelift for the Las Vegas Convention Center THE LIST | P. 22 Private schools, by enrollment 702.433.4455 ◆ jeffreyburr.com Estate Planning ◆ Probate ◆ Wills ◆ Limited Liability Companies ◆ Asset Protection ◆ Family Limited Partnerships ◆ Succession Planning ◆ Guardianship ◆ Trust Administration ◆ Elder Law TRUST BANNER VEGAS INC.indd 1 20130311_VI01_F.indd 1 3/7/13 10:07 AM 3/7/13 2:00:51 PM