Written by Chris Galli, Dickson Realty
In 2018 almost 30 businesses in Reno-Sparks expanded, relocated or launched with the help of the Economic Development Authority of Western Nevada—and more are on the way. Already in 2019, MOBE, an innovative health solutions company, announced it will establish its co-headquarters in downtown Reno and Figure Technologies, a financial technology company leveraging blockchain, AI and analytics announced it will expand its operations to Reno.
The greater Reno, Sparks and Tahoe region creates a favorable environment for business.
“The greater Reno-Sparks-Tahoe area is an ideal region for you to relocate or grow your company,” according to the EDAWN website. “From central access to the 11 western states, to our business-friendly policies, a skilled workforce and a remarkable quality of life, you’ll find it all here.”
Here are some reasons why entrepreneurs and innovators choose to do business in Reno-Sparks.
Incentives For Business In Reno-Sparks
Nevada offers a variety of incentives to help qualifying companies decide to do business in Reno and Sparks. Some benefits include sales tax abatements on capital equipment purchases, sales and use tax deferral on capital equipment purchases, abatements on personal and modified business taxes, real property tax abatements for recycling, employee training grants, and Catalyst funding. For a full list of Urban and Rural Incentives and Matrix for New Businesses, check out this guide from EDAWN:
Skilled Workforce In Reno-Sparks
The greater Reno-Sparks-Tahoe’s existing labor force stands at about 240,000. Industry and business leaders give the regional labor pool top marks for productivity and quality, according to EDAWN. That number also includes about 25,000 workers skilled in manufacturing, logistics, software development, business, administrative services and more. The proximity to Sacramento and San Francisco and the region’s quality of life attracts top young professionals and emerging talent.
More Tech Companies Choose To Do Business In Reno-Sparks
Some of the biggest names in technology such as Apple, Google and Tesla have already moved to Reno-Sparks. Recently Switch, Clear Capital and Flirtey also chose the region. Watch some of the reasons they chose Reno in this video produced by EDAWN:
Resources For Business In Reno-Sparks
There are many tools available to businesses and startups in the region. On NCET – Nevada’s Center for Entrepreneurship and Technology’s website, you can find the Nevada Business Support Ecosystem Chart, a one-page diagram that outlines Nevada’s ecosystem of business support resources. It also has an interactive PDF, the Guide to Starting and Growing a Business in Nevada, which covers 15 essential topics for those thinking of starting and growing a business in Reno-Sparks.
Some local co-working and innovation hubs include:
- Bosma Business Center: Offers offer affordable executive suites, premier office space, and other professional services near downtown Reno.
- Bridgewire: A member-funded makerspace, hackerspace, and workshop located in Sparks
- DeLaMare Science & Engineering Library: A dynamic and technology-rich environment at the University of Nevada, Reno with makerspaces, 3d printing, and more.
- The Generator: An inclusive art space, maker space and community space in Sparks.
- Pacific Workplaces: Offers virtual offices, flexible office space and meeting rooms in downtown Reno
- Reno Collective: The region’s oldest co-working hub and community space operating out of a historic home in midtown Reno
- UNR Innevation Center: a collaborative space powered by Switch that offers co-working areas, a makerspace, conference rooms, and open and closed-door offices for rent.
These are only some of the reasons why businesses are looking to relocate to, expand in or launch in Reno and Sparks. With the region’s success in attracting advanced manufacturing and data centers, this trend is sure to continue.