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Nevada Development Authority going global with new name

The Nevada Development Authority wants to go global and has a new name to reflect that new direction: t he Las Vegas Global Economic Alliance.

The new name is one part of a re branding effort by the agency charged with attracting new business to the Las Vegas Valley and the state. The alliance also has moved into new expanded office space at The InNEVation Center powered by Switch. The new headquarters are at 6795 Edmond St., Suite 260, in Las Vegas, and the space was donated by Switch, which supports economic diversification efforts in Nevada.

Tom Skancke, the agency’s chief executive, said the re branding efforts are costing about $10,000 and will include a new website.

“We don’t just want to focus on surrounding states,” Skancke said Tuesday. “It’s all about global competition. We’re in a global economy. Our name has to reflect a global economy.”

Skancke said the Las Vegas market is known for being a destination for international tourists. He wants Southern Nevada to also be known as a region that lures businesses from around the world.

“Las Vegas is a global tourism destination. It is now time we become a global business destination so that we compete better in a global economy for long-term economic sustainability. This is the start of a new beginning and part of the great reset of Southern Nevada’s economy,” said Skancke, a former transportation consultant who took over the agency’s reins in November.

The alliance has 13 employees and is fueled by an annual budget of $3.3 million. The Governor’s Office of Economic Development pays for half of the budget, and local business investor donations pay for the other half, Skancke said.

Skancke said he expects his staff to increase to 15 or 16 by July 1.

Switch supports the new agency name.

“Switch’s sole reason for creating The InNEVation Center was to promote and cultivate collaboration as a fast track to stimulating our state’s economy,” said Rob Roy, Switch founder and chief executive. “Having the LVGEA actively participate amongst our public and private inNEVators is a huge step in bringing this mission to a reality.”

Contact reporter Alan Snel at asnel@reviewjournal.com or 702-387-5273.

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