Sunday, July 22, 2007

Economy of Las Vegas

The primary drivers of the Las Vegas economy have been the confluence of tourism, gaming, and conventions which in turn feed the retail and dining industries. Several companies involved in the manufacture of electronic gaming machines, such as slot machines, are located in the Las Vegas area. In the 2000s retail and dining have become attractions of their own.

Tourism marketing and promotion are handled by the Las Vegas Convention and Visitors Authority, a county wide agency. Its annual Visitors Survey provides detailed information on visitor numbers, spending patterns and resulting revenues [2].

The Lloyd D. George Federal District Courthouse in Las Vegas is the first Federal Building built to the post-Oklahoma City blast resistant standards.
The Lloyd D. George Federal District Courthouse in Las Vegas is the first Federal Building built to the post-Oklahoma City blast resistant standards.

Las Vegas as the county seat and home to the Lloyd D. George Federal District Courthouse, draws numerous legal service industries providing bail, marriage, divorce, tax, incorporation and other legal services.

Many technology companies have either relocated to Las Vegas or were created there. For various reasons, Las Vegas has had a high concentration of technology companies in electronic gaming and telecommunications industries. Some current technology companies in southern Nevada include Bigelow Aerospace, CommPartners, Datanamics, eVital Communications, NAHETS, Petroglyph, SkywireMedia, Switch Communications, WorldDoc, and Zappos. Companies that originally were formed in Las Vegas, but have since sold or relocated include Westwood Studios (sold to Electronic Arts), Systems Research & Development (Sold to IBM), Yellowpages.com (Sold to Bellsouth and SBC), and MPower Communications.

Constant population growth means that the housing construction industry is vitally important. In 2000 more than 21,000 new homes and 26,000 resale homes were purchased; more than one third of Las Vegas homes are only five years old or less.[citation needed] In early 2005 there were 20 residential development projects of more than 300 acres each currently underway.

Demographics

Historical populations
Census Pop.
1920 2,304
1930 5,165
124.2%
1940 8,422
63.1%
1950 24,624
192.4%
1960 64,405
161.6%
1970 125,787
95.3%
1980 164,674
30.9%
1990 258,295
56.9%
2000 478,434
85.2%
Est. 2006 552,539 [7] 15.5%
Source: City of Las Vegas[8]

Las Vegas has been the county seat of Clark County since the formation of the county in 1909. The Census Bureau's official population estimate, as of 2006, was 552,539, though the city’s own Planning and Development Department reported a population of 591,536[1] as of July, 2006.

The United States Census Bureau 2006 estimates place the population for the Las Vegas Metropolitan Statistical Area at 1,777,539 people, and the region is one of the fastest growing in the United States.[citation needed] Las Vegas was ranked as the 32nd largest city in the United States in 2000, but 2006 estimates suggest that the city's population has since surpassed that of Nashville, Portland, Oregon, Oklahoma City, and Tucson, Arizona to place it 28th in rank.[9]

As of the censusGR2 of 2000, there were 478,434 people, 176,750 households, and 117,538 families residing in the city. The population density was 1,630.3/km² (4,222.5/mi²). There are 190,724 housing units at an average density of 649.9/km² (1,683.3/mi²). The racial makeup of the city was 69.86% White, 10.36% African American, 0.75% Native American, 4.78% Asian, 0.45% Pacific Islander, 9.75% from other races, and 4.05% from two or more races. Hispanics are 23.61% of the population.

There were 176,750 households out of which 31.9% had children under the age of 18 living with them, 48.3% were married couples living together, 12.2% had a female householder with no husband present, and 33.5% were non-families. 25.0% of all households were made up of individuals and 7.5% had someone living alone who was 65 years of age or older. The average household size was 2.66 and the average family size was 3.20.

In the city the population was spread out with 25.9% under the age of 18, 8.8% from 18 to 24, 32.0% from 25 to 44, 21.7% from 45 to 64, and 11.6% who were 65 years of age or older. The median age was 34 years. For every 100 females there were 103.3 males. For every 100 females age 18 and over, there were 102.5 males.

The median income for a household in the city was $44,069, and the median income for a family was $50,465. Males had a median income of $35,511 versus $27,554 for females. The per capita income for the city was $22,060. About 8.6% of families and 11.9% of the population were below the poverty line, including 15.4% of those under age 18 and 8.3% of those age 65 or over.

As of the 2006 census estimate, the Las Vegas metropolitan area contained over 1.7 million residents, and contains the largest ethnic Hawaiian community outside of Hawaii.

Las Vegas has one of the highest suicide- and divorce rates of the US, if not the highest [10][11], with an average of around 500 suicides annually; almost 200 more than cities of the same size[12]

Government

Las Vegas City Hall in downtown Las Vegas.
Las Vegas City Hall in downtown Las Vegas.

The City of Las Vegas government operates as a council-manager government. The Mayor sits as a Council member-at-large and presides over all of the City Council meetings. In the event that the Mayor cannot preside over a City Council meeting, the Mayor Pro-Tem is the presiding officer of the meeting until such time as the Mayor returns to his seat. The City Manager is responsible for the administration and the day-to-day operation of all of the municipal services and city departments. The City Manager also maintains intergovernmental relationships with federal, state, county and other local governments.

A large number of the people who live in what they call "Las Vegas" actually reside in neighboring incorporated cities or unincorporated communities. In fact, of the approximately 1.8 million people who live in the Las Vegas Valley, approximately 600,000 actually live inside Las Vegas city limits. Approximately 700,000 people live in unincorporated areas governed only by Clark County, and another 465,000 live in incorporated cities such as North Las Vegas, Henderson and Boulder City.

While much of the metropolitan area is not in the city limits, it does share a police department. The Las Vegas Metropolitan Police Department provides most law enforcement services in the city and surrounding county after a 1975 merger of the Las Vegas Police Department and the Clark County Sheriff's Department. Incorporated cities in Clark County, as well as colleges, parks and schools have their own police departments that fall outside of Metro's jurisdiction.

A Paiute Indian reservation occupies about 1 acre (4000 m²) in the downtown area of Las Vegas.

Currently, Las Vegas is without any professional sports teams. Leagues are worried about the effects sports betting will have on a team located there. Yet, major sports leagues are starting to get more flexible. It started with the NBA hosting the 2007 All-Star Game. Now, many struggling teams are talking about relocating here. The list includes the NBA's Seattle Supersonics and MLB's Florida Marlins.

City council

(Council members' official city websites are also available)

  • Oscar B. Goodman – Mayor and Council member at Large (Term Expires in 2011)
  • Gary Reese – Mayor Pro-Tem and 3rd Ward Council member (Term Expires in 2011)
  • Lois Tarkanian – 1st Ward Council member (Term Expires in 2011)
  • Steve Wolfson, Esq – 2nd Ward Council member (Term Expires in 2009)
  • Larry Brown – 4th Ward Council member (Term Expires in 2009)
  • Ricki Barlow – 5th Ward Council member (Term Expires in 2011)
  • Steve Ross – 6th Ward Council member (Term Expires in 2009)

City management

  • Douglas Selby – City Manager
  • Barbara Jo (Roni) Ronemus – City Clerk

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