Housing Environment May Create Favorable Economic Climate for Corporations
- Sep 18, 2011
The economic breakdown is Las Vegas’ own leitmotif when dealing with all things finance, but some seem to look at it from a different perspective. Sure home prices are down to 90’s levels and the word disaster has been tossed around for the better part of the last four years, but like it frequently happens on the Strip, the house might start winning back.
Even if home prices stand as much as 60 percent off the original price mark, this may very well make way for people looking to relocate. The Las Vegas Review-Journal talked to The Boyd Company recently and the Princeton, NJ-based real estate firm has seen a considerable increase in clients willing to relocate to Las Vegas.
This trend could definitely make the transition into commercial real estate, with a great number of companies eyeing the Strip as their new corporate home. Low land costs will definitely prove instrumental in any company’s decision to relocate to the area. LVRJ reports that the Nevada Development Authority has seen a 100 percent increase in the number of enquiries from companies, specifically those regarding headquarters relocations.
The full package Las Vegas offers to its potential corporate residents is a varied one. Although energy costs stand higher than average, it’s the lack of corporate and personal income taxes that would attract a number of investors. Factor in an unemployment rate of 14 percent and you get a great start-up kit for any relocating corporation.