The change in the total number of business establishments can provide a sense of the strength and vitality of a local economy. Robust and consistent business growth may also result in strong gains in overall employment and income.
Source: U.S. Department of Labor, Bureau of Labor Statistics
Southern Nevada business growth increases for second straight year
Business growth in Southern Nevada has increased by approximately 1.8 percent each of the past two years, rebounding from a dip in 2017. Since 2012, business growth in the region grown by nearly 15 percent, outpacing the national rate by nearly 40 percent (and 4 percentage points). The region has added nearly 8,200 business established over the course of the decade.
Construction activity in the region, which also provides insights about the health of the economy, increased for the eighth consecutive year, as measured by the Clark County Construction Index, in 2019. While construction activity continues to rebound from Great Recession, 2019 represented a highpoint for the decade.