15 February 2011
President’s Letter February 15, 2011

February 15, 2011
Letter from Dallas Haun

In my last letter, I wrote about Nevada State Bank’s confidence in our state’s future. Nevada has great potential. We all believe that. Practically speaking, though, how can we realize that potential? How do we get from here to there?  Diversification of our economy is key. Nevada will continue to draw great economic benefit from gaming and tourism, but we must develop other business sectors.

Fortunately, we have a leader in that effort: the Nevada Development Authority (NDA), a not-for-profit agency with a membership of over 300 Southern Nevada businesses and organizations, headed by president and CEO Somer Hollingsworth, a long-time resident of the Las Vegas area, who had a career in banking and consulting before taking on his current post.

The NDA recruits new businesses to our state, helps existing businesses to expand, and promotes effective working relationships between business and government and between business and education.  They save potential new employers time and money by offering them research and information services, customized site tours, and liaison with regulatory and other government officials. The membership itself is a rich resource for everything from engineering and construction expertise to staff recruitment and computer services, and the NDA helps new businesses make the right connections to fill their needs. To get the word out on the advantages of living and working in Nevada and the agency’s services, the NDA is currently running a billboard and print ad campaign in California, as well as print ads in local publications.

During the 2010 fiscal year, NDA assisted 23 new companies and three expansions, creating more than 2,000 jobs. In addition, the agency’s membership has expanded by some two dozen businesses for 2011— a positive development, because the NDA’s work, which benefits the entire community, is supported primarily through members’ contributions.

Like the NDA, which was founded in 1956, Nevada State Bank has been serving Nevada for more than half a century.  Since our founding in 1959, we have been actively engaged in supporting and improving the communities we serve. We view our membership in the NDA as part of Nevada State Bank’s overall commitment to Nevada’s future.  I encourage you to learn more about the NDA by visiting their website at http://www.nevadadevelopment.org/.

Best Regards,

Dallas Haun
President and CEO
Nevada State Bank

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