After struggling through a major recession, Northern Nevada's economy is flourishing. The Tesla Motors Gigafactory at the Tahoe Reno Industrial Center, to date, the largest expected employer at TRI Center, will eventually employ 6,500 people.
Last week, Google purchased 1,210 acres in the Tahoe Reno Industrial Center for just over $29 Million. Sources are reporting that the land will be used to build a data center, but at this point there is no timeline for the construction to begin. If Google receives a similar incentive package to Tesla's, there could be a significant demand for local, skilled workers.
In addition to Tesla and now Google, Tahoe Reno Industrial Center is home to dozens of businesses including Chewy.com, 1-800-Flowers, Ebay, Switch, Walmart and Zulily. TRIC is only 9 miles from Sparks in Storey County off of Interstate 80. Because Nevada has a very business-friendly environment, even more businesses are expected to relocate to the area.
What does this mean for home values? As job opportunities continue to increase, and do so quickly, demand homes in the Reno-Sparks area will also increase. Home values will likely continue to go up. Read more about the current Reno-Sparks real estate market.
If you have questions about home values in Northern Nevada, are planning to move to the area or are planning to sell your home, we would be honored to assist. We have lived in the area for decades, have extensive knowledge of the neighborhoods in the Reno-Sparks area, and love living here. Contact us for more information about buying or selling a home in Reno or Sparks.