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An Economic Development Agenda for Nevada
SRI provided much-needed objective economic and industry analysis as a platform for the state to formulate a new path toward economic regrowth and revival.
As the State of Nevada stands at a critical juncture of economic challenges, it has realized the need for advice on a new economic growth strategy from external experts. The State commissioned research by SRI to provide a situational analysis of Nevada’s current economic conditions and to evaluate a variety of industry sectors to assist the State in formulating its new economic development plan.
Working in partnership with the Brookings Institution, SRI conducted rigorous, objective research based on a data-intensive and market research-driven approach, which included stakeholder consultation. This provided an important framework for identifying the current challenges and future potential industry opportunities across the State of Nevada. SRI created two technical reports containing:
- A statewide economic assessment
- Statewide and regional industry cluster analysis
- Competitiveness benchmarking and SWOT
- Innovation analysis
- Market trends assessments for specific industries
These assessments led to the identification of seven future-oriented high-potential industry opportunities (and component sub-sectors) for the State of Nevada and its metro areas, informed by the new economic goals elaborated by state stakeholders through this process.
Following on the industry opportunity identification, SRI worked closely with Brookings Institution to provide the new state-level Advisory Council, Board, and Office of Economic Development with guiding recommendations for framing a new comprehensive economic development agenda for Nevada and its metro areas.