Job growth prompts the rise of Las Vegas real estate
Las Vegas may be the gambling capital of the world, but this is no place to simply throw out hard-earned money on the gaming table. Truth is, this is also the place to earn and keep a living.
The ongoing rise of job opportunities in Las Vegas has its own domino effect on the city's real estate industry. Now, more job-hunters and those on a career change are headed for Sin City, hoping to land the job of their dreams or work with a better-paying company.
More individuals are lured to relocate to Las Vegas since 1990 when the city posted a remarkable job growth. According to Forbes Magazine, of the 25 cities with high job opportunities, Las Vegas landed sixth in the list. The most promising industry is the high technology services where the city bested all other big cities.
In the last decade, the Nevada workforce has increased by nearly 350,000 people and more than half of the newly-relocated companies in Las Vegas engage in technology and manufacturing businesses.
As a result, the construction industry remains in a booming state. The demand for residential, commercial spaces, resort and hotels has likewise soared, giving the city's real estate industry strong signs for growth.
It's estimated that around 6,000 individuals move to the city each month, a growing number as more and more jobs are created. In effect, residential construction has been valued at $2 billion annually and commercial construction exceeds that figure each year.
That being said, real estate agents, brokers and investors are benefiting big-time from the city's strong economy and growing job opportunities. Now, fresh graduates and young professionals are certainly on the mailing list, for they are likely to embark on a new career in Las Vegas.
Truly, this city that never sleeps is not just a city of luck. It's also a city of golden opportunities.
The ongoing rise of job opportunities in Las Vegas has its own domino effect on the city's real estate industry. Now, more job-hunters and those on a career change are headed for Sin City, hoping to land the job of their dreams or work with a better-paying company.
More individuals are lured to relocate to Las Vegas since 1990 when the city posted a remarkable job growth. According to Forbes Magazine, of the 25 cities with high job opportunities, Las Vegas landed sixth in the list. The most promising industry is the high technology services where the city bested all other big cities.
In the last decade, the Nevada workforce has increased by nearly 350,000 people and more than half of the newly-relocated companies in Las Vegas engage in technology and manufacturing businesses.
As a result, the construction industry remains in a booming state. The demand for residential, commercial spaces, resort and hotels has likewise soared, giving the city's real estate industry strong signs for growth.
It's estimated that around 6,000 individuals move to the city each month, a growing number as more and more jobs are created. In effect, residential construction has been valued at $2 billion annually and commercial construction exceeds that figure each year.
That being said, real estate agents, brokers and investors are benefiting big-time from the city's strong economy and growing job opportunities. Now, fresh graduates and young professionals are certainly on the mailing list, for they are likely to embark on a new career in Las Vegas.
Truly, this city that never sleeps is not just a city of luck. It's also a city of golden opportunities.
posted by realestatevegas | 10:11 AM
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