OK, so we've had a few of bad years, er, maybe like five-ish. But who's counting? The recession following the 2007-2008 financial collapse & resulting great recession socked Nevada with some hard blows, perhaps the hardest of any state. At its peak, Nevada's unemployment rate was a brutal fourteen percent. We lost over 200,000 jobs, half of that number from construction and the rest from tourism or gaming. But our luck has turned and businesses are turning to Nevada to set up shop. It's shaping up to be a great comeback story.
Step aside California, Las Vegas has moved in. More and more tech companies are setting up shop in Vegas and this is mostly due to the efforts of the Switch Data Center and InNEVation Center who work hard to recruit new and start up business. Their presence recently motivated Wirelessor, a Chinese company, to select Nevada as a production sight for their cordless chargers. As their North American headquarters, Wirelessor's Las Vegas location will employ hundreds in the near future. Not as 'techy' but every bit as thrilling is the news that Cannon Safe, Inc has decided to move their California based business to Vegas. After a hefty $25 million dollar investment with which to purchase a commercial lot, Cannon Safe plans to build a plant and immediately employ 50 people. The company projects 275 more permanent positions over a four year period each of which pays an average wage of $18.16 an hour.
The biggest splash; however, came in January when the Federal Aviation Administration chose Nevada as one of the few states allowed to test drones. The concept of delivering packages via commercial drones has taken center stage with big companies like Amazon and UPS and is sure to mean big business for our state. It's estimated that the industry will bring 12,000 to 15,000 jobs which will pay an average of $62,000 a year. At one point, analysts predicted that Nevada wouldn't see full recovery until 2015 and we ended 2013 with an unemployment rate of 9% after recovering nearly 20,000 jobs last year. We've plunged into 2014 with huge employment news and we continue to see businesses take advantage of the benefits Nevada has to offer. These are, as they say, the green shoots of recovery.