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The Next Las Vegas Boom

The Next Las Vegas Boom. Robert Lang, UNLV Director Brookings Mountain West. The Great Recession—Where are We Now?. U.S. Employment. U.S. GDP by Type. U.S. Household Net Worth. U.S Retail Sales. Where is Commercial Real Estate?. Changes in Retail Vacancies.

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The Next Las Vegas Boom

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  1. The Next Las Vegas Boom Robert Lang, UNLV Director Brookings Mountain West

  2. The Great Recession—Where are We Now?

  3. U.S. Employment

  4. U.S. GDP by Type

  5. U.S. Household Net Worth

  6. U.S Retail Sales

  7. Where is Commercial Real Estate?

  8. Changes in Retail Vacancies

  9. Changes in Retail Rents: 3Q08-3Q09

  10. U.S. Store Closings

  11. U.S. Office Vacancy Rates

  12. Office Supply and Vacancy Trends

  13. U.S. Office Rents

  14. Office Market—Absorption and Completions

  15. Overall Performance of Top 100 Metro Areas During Recession

  16. Top 20 Best and Worst Metro Areas

  17. Las Vegas in the Southwestern Megaregion

  18. The 2008 Brookings Report Identified Five Megapolitans in the Intermountain West

  19. Lang and Nelson, 2010 Book

  20. Lang/Nelson Definition of Las Vegas Mega

  21. Population Change, 1970-1940

  22. Las Vegas—The Bridge to Somewhere

  23. Official 2009 High Seed Rail Map

  24. European 2009 High Speed Rail

  25. Megapolitan vs. Megaregion Rail Megapolitans are mostly continuous urban corridors and are best served by “Regional High-Speed Rail” Megaregions are proximate but discrete urban complexes that need “Express High-Speed Rail” to bridge the gaps between multiple megapolitan areas

  26. Megapolitan vs. Megaregion HSR In Megapolitans—Trains mostly compete with autos and should make multiple stops at key centers along the route In Megaregions—Trains mostly compete with short-haul air service and should make very few stops in order to maintain maximum speed

  27. California/Mountain West HSR • Megapolitans • Front Range = Regional HSR • Sun Corridor = Regional HSR • Wasatch Front = Regional HSR • Megaregions • So Cal to Las Vegas = Express HSR • So Cal to Nor Cal = Express HSR • So Cal to Sun Corridor = Express HSR

  28. Linking the Southwest Megaregion

  29. Economic Diversification—The Next Frontier

  30. Overlying on Growth & Tourism Share of metro private sector GDP from food, drinking, leisure, hospitality, construction, and real estate

  31. We Used to Count on Migrants

  32. County Population Change, 2000-2008

  33. Las Vegas Has a Future in Alternative Energy Source: State of Utah; PNM

  34. But the Real Boom Will Come from Better Leveraging the Region’s World City Assets

  35. Need to be Less Tuscan, More Milan

  36. How About an Ikea to Start?

  37. From the Brookings Press

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