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/68495
JUNE 4, 2012 / YOUR BUSINESS-TO-BUSINESS WEEKLY MINORITY BUSINESS SPECIAL FOCUS This month, VEGAS INC looks at workplace diversity in the valley. ECONOMY STARTING A SLOW CLIMB TO RECOVERY By Richard N. Velotta senior staff writer S outhern Nevada's economy is continuing its slow crawl out of the recession, with tourism and gaming leading the way and real estate and unemployment continuing to be a drag on sustained growth. Center CONSTRUCTION CLEANUP: Norberto Madrigal acts as the public face of his family's company, Lunas Recycling in Las Vegas.. LEILA NAVIDI THE INFLUENCERS T By Tovin Lapan he growing influence of Hispanics in Nevada's business community is clear. ¶ Since 1990, the state's Latino population has more than doubled, from 10.4 percent to 26.6 percent. More than three-quarters of a million Latinos now live in Nevada. ¶ The growth of the demographic has translated into more Latino business ownership. Hispanics own 8 percent of the state's companies, and their 18,000 businesses generate $3.2 billion in sales and receipts. They employ tens of thousands of workers. SEE INFLUENCERS, PAGE 14 READY, SET, WIN. PECCOLE PROFESSIONAL PARK 10080 WEST ALTA DRIVE, SUITE 200 • LAS VEGAS, NEVADA 89145 HUTCHLEGAL.COM Stephen Brown, director of UNLV's for Business & Economic Research, said at a midyear economic outlook presentation that the economy wouldn't return to its full potential until 2017, giving credence to those who theorized that the Great Recession would be a lost decade. 10 HISPANIC POWERBROKERS WHO ARE MAKING LAS VEGAS BETTER Brown told an audience of 200 at the Venetian that while Southern Nevada has the potential of having a record year for visitor volume in 2012, region is being held back by the 11.6 percent jobless rate and a construction industry that cratered to a level deeper than anyone expected. the He also said the state having the SEE FORECAST, PAGE 17 INSIDE TODAY DEVELOPMENT | P. 7 Shrinking real estate inventory pushes buyers into new homes. TOURISM BOOM | P. 21 Columnist Rick Velotta examines the economic impact of Electric Daisy Carnival THE LIST | P. 22 This week: Architecture firms