31 January 2013
President’s Letter: Nevada’s 2013 Outlook

Letter from Dallas Haun

At the beginning of each year, economists and financial analysts assess the state of our economy and make predictions for the future.  I just attended the Preview Las Vegas event, and the Directions 2013 conference will be held shortly in Reno. Most experts agree that Nevada still faces many challenges, but there are solid indications that the economy is turning around.

At 10.8 percent, the unemployment rate is still too high, but it’s lower than it has been in more than three years.  Tourism numbers are looking better, which should be good news for the rest of our economy.  Business activity and taxable sales are up slightly, although construction and housing are still struggling. A true recovery may still be at least a couple of years down the road, but things are starting to move in a positive direction.  We just need to stay the course and maintain our momentum.

In his State of the State address, Governor Sandoval said, “Two years ago…we were consumed by the effort simply to stop the free fall.  Tonight, we come together to further stabilize our state and lay a stronger foundation for its future.”  As the 77th session of the Legislature convenes on February 4, I hope, as all Nevadans do, that our lawmakers will take a pragmatic, common sense approach to balancing the welfare of all Nevada’s citizens with the fiscal welfare of the state.

Businesses can also play a part in the economic recovery.  In our 53 years serving the financial needs of our state, we at Nevada State Bank have seen many economic ups and downs.  We’ve helped our clients through those challenging times, and we’ll continue to put our experience and expertise to work in helping rebuild the Nevada economy, one family and one business at a time.

Best Regards,

Dallas Haun
President and CEO
Nevada State Bank

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