In this episode of the Econ Dev Show, host Dane Carlson speaks with Shani Coleman, Director of Community and Economic Development for Clark County, Nevada, about the economic transformation happening beyond the famous Las Vegas Strip.
Coleman shares insights into how professional sports teams, including the Raiders, Golden Knights, and upcoming MLB team, are driving a new sports innovation economy.
She discusses the county's five-year-old economic development department, their focus on small business support, the challenges of federal land ownership, and how California's regulatory environment is driving business migration to Nevada.
The conversation covers everything from hotel rooms of the future at Harry Reid Tech Park to plans for advanced manufacturing in areas near the proposed second airport.
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Ten Actionable Takeaways for Economic Developers
- Lean into your existing assets - Don't shy away from what makes your community unique; figure out how to leverage those assets for economic development advantage.
- Build comprehensive small business support programs - Create virtual platforms and technical assistance programs that help small businesses understand public contracting opportunities and build resilience.
- Develop specialized innovation districts - Designate physical locations with boots-on-the-ground support to create environments where entrepreneurs and innovative businesses can thrive.
- Create business-friendly digital tools - Develop project estimators and online resources that help businesses understand licensing, permitting, and operational costs upfront.
- Focus on business retention and expansion - Don't just recruit new businesses; actively support existing businesses in growing and hiring more employees.
- Build venture capital ecosystems - Work with organizations that support both entrepreneurs seeking funding and individuals wanting to become venture capitalists.
- Capitalize on proximity advantages - Use geographic location and transportation access as selling points for logistics and distribution opportunities.
- Plan for future land development - Engage in master planning activities even when land ownership is complicated to be ready when opportunities arise.
- Diversify beyond traditional industries - Look for ways emerging sectors (like sports innovation) can create new economic opportunities in your community.
- Network strategically and tell your story - Use podcasts, conferences, and digital platforms to communicate your community's business opportunities to site selectors and potential investors.
Special Guest: Shani Coleman.
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