Report: Nevada gaming/tourism impact at $1.8 billion in taxes, 450,000 jobs
CARSON CITY, Nev. — The Nevada Resort Association’s 2019 Factbook estimates the gaming/tourism industry contributes $1.8 billion in taxes and fees to governments across the state and supports 450,000 direct and indirect jobs.
The fact book is issued every two years to provide a comprehensive look at Nevada’s premier industry. Written by Applied Analysis of Las Vegas, the newest report — released in early March — calculates the total economic impact of gaming and tourism at $67.6 billion.
Jan Jones Blackhurst, chairman of the Nevada Resort Association board, said among gaming taxes, entertainment taxes, business taxes, property taxes, room taxes, sales taxes and other assessments, the gaming/tourism industry is the largest contributor of state and local tax revenues in the state.
That includes generating 37.5 percent of the state General Fund revenue.
“From hundreds of thousands of jobs with competitive wages and benefits to tens of billions of dollars in capital investments to being the largest contributor of state and local taxes, our industry continues to be the driving force behind Nevada’s economy, generating nearly $68 billion in total economic output in 2018,” Blackhurst said in a press release. “Plus, the gaming and tourism industry continues to take a leadership role in environmental sustainability efforts and charitable giving and volunteerism, making Nevada stronger for generations to come.”
Go here to download a copy of the Fact Book.
According to the book, the industry has invested billions of dollars in capital construction. It says currently, there are capital projects totaling $20.7 billion either under way or planned in Nevada.
According to the report, a quarter of Nevada jobs come from the leisure and hospitality sector and it points out that those 450,000 workers live and spend an annual total of $18.8 billion in salary and wage earnings in Nevada.
In addition to direct jobs in the resorts and other tourism businesses, there are the numerous businesses that supply goods and services to the resort industry.
During 2018, gross gaming revenue topped $11.6 billion, nearly a third of total legal gaming revenue in the nation, and total gaming and non-gaming revenue reached $27.1 billion from more than 56 million visitors.
According to a Sept. 3 story from the Reno Gazette Journal, rents for the ‘modern, hip, cool, new residential and retail experience’ will start out at $1,400 for a 540-square-foot unit and $1,800 for an 840-square-foot duplex when the rentals come online later this year.