NCET

As we prepare to close the book on 2009, we Nevadans find ourselves in a long, dark tunnel. Our unemployment rate is over 13 percent; only Michigan’s is worse. We have the highest deficits, and have experienced the greatest fall in personal income. Nevada’s foreclosure rates are the highest, and its homeowners the most under water. Moody’s Ratings calls Nevada’s recession the worst of any state.

Meanwhile, our government is the smallest, and our tax burden the lowest. While historically these have been competitive strengths in drawing and sustaining businesses, they also mean that our main sources of revenue are gaming and sales tax, which are running dry, with no immediate replacements on the horizon.

However, for all the problems Nevada has faced this year, there is a light at the end of the tunnel.  Most experts agree that 2010 will show improvement over 2009.  In today’s world, improvement is the best we can hope for. Read full story:

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This entry was posted on Saturday, January 2nd, 2010 at 10:12 am and is filed under Industry News, Las Vegas, Reno-Tahoe, Rural Nevada. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.