Here at Nevada State Bank, we’re excited to see new developments and economic diversification taking place in northwest Nevada. Tesla’s new gigafactory is predicted to have a $100 billion economic impact on Nevada’s economy over the next 20 years, producing an estimated 16,000 indirect jobs. And our own homegrown company, Switch, headed by my friend Rob Roy, is also moving into the Reno market with a $1 billion data center project. The technology infrastructure being built will make northern Nevada even more attractive to technology companies.
Switch plans to build a 3 million-square-foot facility at the Tahoe Reno Industrial Center just east of Reno. The first phase is scheduled to open next year with eBay as the anchor tenant. Switch is also expanding its Southern Nevada facility by adding 1 million square feet to what is already the world’s largest data center. As Gov. Brian Sandoval pointed out in his State of the State address, this will make Nevada the most digitally connected state in the nation.
Switch is also investing in a fiber communication loop that will link Reno, Las Vegas, Southern California and the Bay area. This high-speed pipeline will make it easier for California companies to connect to data centers here, benefiting the entire state.
Northern Nevada’s economic good news is only part of the overall optimistic outlook for the state. Commercial real estate vacancies are dropping, home prices are stabilizing, and unemployment numbers are improving. It’s good to see Nevada getting back on its feet, and we’re looking forward to continued positive momentum through the rest of 2015.
Chairman and CEO
Nevada State Bank
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