Lawmakers, development officials push Silver State’s brand into foreign markets
When it comes to Nevada's economic recovery, a vibrant export market is critical. Over the last six months, lawmakers and economic development officials have made strides in getting the Silver State's brand into foreign markets.
Among the recent accomplishments, Gov. Brian Sandoval's trade mission in September to China and South Korea followed last month by a series of statewide videoconferences on assisting small-business owners in exporting their products.
Lt. Gov. Brian Krolicki will leave next week on a follow- up trip to South Korea. Trade missions to Mexico and Israel are planned for later this year.
But because Nevada in the past did not pay much attention to foreign trade, there's still a lot of work to do, even just finding out what companies are exporting.
"It's important to know what companies trade overseas and what companies are looking to export their products or services," said Steven Hill, director of the Governor's Office of Economic Development. "When we know that, we are able to get something done."
Hill said Friday in a speech to about 100 people the Las Vegas Latin Chamber of Commerce at the Suncoast that he can't change "the economy from inside a government office, but working with you we can get a lot done."
Nevada's exports totaled $8 billion last year, a significant increase from $1.5 billion in 2001, according to figures from the U.S. Department of Commerce. The state's largest category is primary metal manufacturers, which accounted for $3.7 billion.
Hill wants to increase exports, by diversifying the base of companies sending goods overseas. He said Nevada has a successful history recruiting companies, but needs to be more aggressive when it comes to supporting companies that export goods and services.
"A lot has happened over the last year," Hill said. "Southern Nevada did not have any staff in the area of international trade. We have three people."
Hill said it's a small staff that is trying to recruit more companies.
"Companies that export are more stable," Hill said. "On average, they pay employees 14 percent more in (salary) and are more lucrative."
Switzerland is currently Nevada's largest trading partner, followed by Canada, China, Mexico and Japan. In 2011, Las Vegas posted $1.7 billion in merchandise exports.
The Latin Chamber of Commerce on Friday kicked off its 2013 INSIGHT International Trade Series with seminars and Hill's update on the state's economic development efforts.
"Today is an extension of what we began last year," said Javier Trujillo, chairman of the chamber's board of directors. "We want to help educate our members improve opportunities."
The Governor's Office of Economic Development will introduce six measures during the 2013 Legislative session that beings on Feb. 4. Hill said most are designed to "remove obstacles" to economic development.
Hill said one measure approves medical license reciprocity in Nevada.
"The approval will be temporary but they will be immediately eligible to work in Nevada, instead of waiting five or six months or longer for (approval) to run its course," he said. "This is a significant measure to attract doctors here."
Hill said the medical industry is the largest job opportunity we have now. He described the bill as a "straightforward way to help create jobs."
Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.
