The College of Business at the University of Nevada, Reno, will host Vision 2021: The Nevada Economic Forecast Friday, Jan. 22, 2021, as part of the College’s continued efforts to support the economic development and growth of the state’s economy.
“The ongoing COVID-19 pandemic has impacted Nevada’s economy in a number of unprecedented and difficult-to-predict ways,” Frederick Steinmann, assistant professor in the College’s economics department and conference organizer, said. “Vision 2021 is an attempt to understand how the pandemic has impacted the state’s economy and how the state’s economy will continue to be affected.”
Policy makers at the state and local level, government administrators, business and industry leaders are welcome and encouraged to attend as the information presented during this year’s event will help in preparing for the year to come.
“Nevada’s unique economic profile has left the state particularly susceptible to the economic impacts of the COVID-19 global pandemic,” Steinmann said. “Nevada’s economy is highly integrated with global and national economic changes. Within the state, and despite considerable efforts to diversify the state’s economic base, changes in a few key industry sectors, such as housing, agriculture, mining, healthcare and tourism, can have widespread impacts on the overall economic fortunes of local governments, private sector firms and individuals.”
As an example, Steinmann said that continued community spread of COVID-19 throughout Nevada, coupled with significant reductions in domestic and international tourism to the state, has led to significant increases in statewide and local unemployment rates as well as growing fiscal stress on the budgets of local municipal and county governments throughout Nevada.
“In Las Vegas alone, according to the Las Vegas Convention and Visitors Authority, overall visitor counts have declined from an estimated total of approximately 3.7 million total visitors in October 2019 to an estimated 1.9 million total visitors in October 2020, a net reduction of nearly 1.8 million total visitors or 49 percent in just one year,” he said. “These impacts continue to be felt across the state, and Vision 2021 is designed to provide public-sector elected and appointed officials, government executives, non-profit organization leaders and business owners with a more accurate understanding of how the state’s economy, either overall or within individual industry sectors, will continue to be impacted in the coming year.”
Registration for Vision 2021 is only $25, and you can register for this event online. Attendees are asked to register by 5 p.m. Monday, Jan. 18, 2021. Due to current COVID-19 pandemic restrictions on large meetings, Vision 2021 will be held online, live, via Zoom.