Kauffman Foundation Reports Rise in Startups in Las Vegas

InfographicWhen it comes to the number of people starting new businesses each month, Las Vegas topped at least 35 other metro areas in 2015, writes Nicole Raz for the Las Vegas Review-Journal.

Raz reports an analysis of startup activity across 40 metro areas and all 50 states released by the Kauffman Foundation found Las Vegas trailed only Austin, Texas, Miami, Los Angeles, and San Francisco. In fact, the report found startup activity in Las Vegas jumped from 72.7 percent in 2014 to 77.4 percent in 2015,.

A 5 point percentage point jump in startup activity is noteworthy, but not surprising, said Janet Runge, from the Center for Entrepreneurship at UNLV. “As we’ve come through the economic downturn there’s a whole lot of activity going on, certainly with (autonomous car manufacturer) Faraday Future and (human transport system) Hyperloop, and everything that’s happening with drones,” she said.

The economy has bounced back to a point where people can now afford to try new ventures, she said.

“Out of every 100 new entrepreneurs (in Las Vegas), 77 of them are starting new businesses primarily driven by opportunity versus necessity,” said Arnobio Morelix, senior research analyst at the Kauffman Foundation. “Vegas also experienced an increase in startup density. That has gone up from 116 startups for every thousand new businesses, to 120.8 startups for every thousand businesses.”

Read the full article here.

4 responses to “Kauffman Foundation Reports Rise in Startups in Las Vegas

  1. It is so exciting to see Las Vegas showing in the business startup report! With Nevada’s tax-friendly environment, Faraday, Tesla, etc., etc. our business reputation continues to draw quality businesses to our state. It is a great time to serve businesses in Nevada!

  2. It is not at all surprising to see that Las Vegas is near the top of the list for the number of startups. The lack of state taxes combined with a very plentiful workforce, combined with the quality of life that Las Vegas offers combines to be quite the calling card for entrepreneurs.

  3. It is great to see the diversity that is spreading across Las Vegas in terms of business startups. This diversity will help Las Vegas not only to grow but it will also help to insulate it from economic downturns that can dramatically impact certain industries such as the hotel and casino industry. I recently relocated from Southern California to Las Vegas to take advantage of the tax benefits as well as the great cost of living which helps to ensure a stable and plentiful workforce.

  4. Since the start of 2017 it seems like money has loosened up. It has been difficult for the past several years. I am hoping this trend continues. Also, I am hoping many of the start-ups continue. Reports of start-ups seems high but then again reports of those failures is never in the news.

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