Sometimes having the data you need is only half of the story.
Below are some examples of the types of reports we prepare for our clients. Although these reports are relatively diverse, spanning industries from healthcare to water resources to commercial banking, they share a common thread. That thread is the ability to reduce complex research and analysis into digestible, actionable reporting documents. We understand that the technical analytics underlying a research project mean little if you cannot effectively communicate the results to internal and external stakeholders. We take great pride in our ability to present our findings in a way that maximizes the utility of our research and reflects positively on our clients and their core constituencies.
Drivers in Nevada and the rest of the United States have enjoyed low gas prices for the past two years, thanks to the age-old fundamentals of any economy: supply and demand. When oil prices were climbing in the wake of the Great Recession, high global demand, particularly in the surging Chinese economy, and limited supply pushed oil prices above $100 per barrel. Today, the price of oil has been cut in half as the result of increased supply and weak demand.
Double-digit economic growth in China is long gone, and the United States has been weaning itself off of foreign oil, partly due to successful efforts to increase energy independence and build domestic oil reserves. Those prevailing competitive forces in the oil market are responsible for reducing the price consumers pay at the pump, ...
When celebrity chef Wolfgang Puck opened Spago in the Forum Shops at Caesars Palace in 1992, few believed his fine-dining restaurant could survive in a city known for $1.99 steak-and-eggs specials and all-you-can-eat buffets. Yet Spago not only survived, it thrived, leading a wave of culinary expansion that has elevated Las Vegas among the top cities for fine dining experiences. Nearly 25 years after Puck opened his restaurant, Las Vegas is home to one of the finest collections of world-renowned chefs and restaurants anywhere on the planet.
The growth of fine dining has been central to the ongoing evolution of Las Vegas. As legalized gambling has expanded across the United States and the globe, Las Vegas has responded by expanding its amenities beyond gaming to maintain its position as ...
Much like the overall housing market in Nevada, the luxury single-family home market has continued to experience an ongoing rebound after the extended period of pricing declines that stretched through the economic downturn. In both southern and northern Nevada, the luxury home market has reported multi-year climbs in median pricing as it has settled into a period of stabilization consistent with the housing market as a whole.
While the luxury home market might traditionally be defined as homes worth $1 million or more, because of recent pricing volatility, the luxury home market for this analysis is defined as resale single-family houses that are 4,500 square feet or larger. In Clark County, the median price in this market segment climbed $79,000 to $900,000 in 2015, a 9.6-percent impro ...
Nevada’s housing market was a little less stable in the first quarter of 2015, as the Nevada Housing Stability Index (“NHSI”) dropped slightly to a “C” grade. Overall the composite index fell modestly to 2.26, but the NHSI remained slightly higher than the 2.17 index reported one year ago. Median home prices statewide slipped slightly from the fourth quarter, with the median price falling 1.2 percent statewide, 3.6 percent in Clark County, and 2.6 percent in Washoe. Notably, the drop in prices directly impacted two index components, and potentially lured further investor purchases in the area. Despite some modest period-to-period adjustments in most recent quarter, conditions overall appear more stable than at any point since the past economic downturn.
Applied Analysis was retained by the Nevada Mining Association (the “NVMA”) to review and analyze the economic impacts associated with mining operations in Nevada as well as the mining industry more generally. This brief summarizes the fiscal impacts of the Nevada mining industry. In 2012, mining companies in the state paid $431.4 million in major taxes, which accounted for 8.2 percent of the taxes generated for the Nevada State General Fund.View More Issues » View Report »
New Entity Filings [Leading Indicator]
The southern Nevada economy continued its tepid pace of recovery in the second quarter, while some headwinds persist. A number of indicators reported modest gains or slight contraction in the second quarter of 2013. In June, employment in the Las Vegas MSA increased by 17,800 jobs (+2.2 percent) annually, while the unemployment rate fell 1.7 percentage points from a year ago to 10.1 percent. However, average weekly hours worked continued to decline, falling 0.2 hours (-0.6 percent) to 33.9. In addition, Las Vegas visitor volume for the second quarter of 2013 was relatively flat compared to a year ago, while Clark County gross gaming revenues continue to struggle to report any material gains, falling 1.6 percent year-over-year during the period. While some stabilization has been reported in ...View More Issues » View Report »
After reporting two consecutive months of declines, gaming stocks witnessed positive growth in August of 2013. All of the companies included in the Applied Analysis Gaming Index (AAGI) witnessed increases in average daily stock price when compared to July 2013 and August 2012. The broader market also reported similar trends in the latest period. During August 2013, the AAGI reported a composite score of 497.83, up 5.0 percent from the prior month and 26.1 percent from a year ago. Caesars Entertainment (CZR) witnessed the most substantial month-to-month gain in average daily stock price, rising 18.8 percent to $18.32. In addition, Bally Technologies (BYI) was up 12.2 percent, while MGM Resorts International (MGM) increased 10.4 percent. WMS Industries (WMS) reported relatively flat stock pe ...View More Issues » View Report »
On January 16, Governor Sandoval delivered his budget, bidding good riddance to the bottom of the Great Recession. However, while most signs going forward are positive, projections of state revenue by the Economic Forum are still $400 million less than in the 2006-2007 biennium unless temporary taxes scheduled to sunset in FY 2014 are continued. Therefore, the state is again faced with extending temporary tax increases to fund a budget that funds most public services at lower levels than in 2007.
Containment of aggregate spending might indicate government as a whole is being “right sized”, made more efficient. That said, while total outlays have been curtailed, there is one program whose growth has continued virtually unabated since its establishment decades ago. Our ongoing inclina ...View More Issues » View Report »
The Clark County Elections Department registered 9,459 new voters during the last three months of 2011, representing a 3.1-percent increase from the third quarter. New voter registration has increased for three consecutive quarters and is expected to continue trending upward through the general election in November. Nevertheless, the registration of new voters is not projected to reach levels witnessed during the last election cycle, when presidential primaries were hotly contested in both major political parties and population growth was still surging in southern Nevada. For comparison purposes, during the fourth quarter of 2007, new voter registration totaled 17,385 in Clark County, nearly double what was witnessed this last quarter.
The fourth quarter experienced some dramatic shifts ...View More Issues » View Report »
With the close of 2011, it appears economic conditions in the resort industry are slowly starting to turn around. Each of the major operators in Las Vegas reported increases in net revenues and adjusted EBITDA for the fourth quarter of 2011. In addition, average daily room rate (ADR) increased across all companies, driving improvements in revenue per available room (RevPAR). Most operators attributed their improved performance to strong convention and group bookings. According to the Las Vegas Convention and Visitors Authority, Las Vegas welcomed 3.0 million visitors in December for a 2011 total of 38.9 million, up 4.3 percent over last year. Market-wide ADR increased a significant 10.6 percent in December to $101.58, while the average occupancy rate was up a more modest 0.7 points to 73.1 ...View More Issues » View Report »
Numerous programs are available in southern Nevada to offer assistance to families in need during tough times; however, assistance is typically designed to provide temporary relief. Help in the form of both monetary and non-monetary support may run out before needy families are able to get back on their feet. This is especially the case during periods of economic downturn, when families may face hardship for years at a time. Although the United States has made significant progress in recovering most recently from the "Great Recession" over two years ago, many families continue to struggle in the wake of this recession, resulting in mixed trends among the social service indicators.
Despite a national unemployment rate that has hovered around 9 percent since April, the unemployment rate i ...View More Issues » View Report »
The nation continues to slowly recover from the latest economic downturn. While many economic indicators continue to report mixed trends, employment made some encouraging progress in 2011. In December alone, national employment increased by 200,000 jobs month-over-month, while employment for the year increased by 1.6 million jobs. The transportation and warehousing industry reported the largest gain in employment during the month, with an increase of 50,000 jobs, though many of these were seasonal in nature (e.g., couriers and messengers). Gains were also reported in retail trade (+28,000), leisure and hospitality (+24,000), manufacturing (+23,000), health care (+23,000) and mining (+7,000). Meanwhile, average weekly hours for all employees increased 0.1 hour to 34.4 hours, while average h ...View More Issues » View Report »
The final months of 2011 were largely met with optimism as spending through the holiday season grew, investors loosened their wallets, and employers began to show signs of hiring in the coming year. While large macroeconomic concerns such as the long-term unemployed, housing prices and financial woes abroad still lurk in the shadows, the fourth quarter looked much different than the prior ones, a welcome change after several years of being fed only pint-sized bites of positive news.
In the fourth quarter of 2011, gross domestic product (GDP) expanded at an annual rate of 3.0 percent, according to the second advanced estimate by the Bureau of Economic Analysis. Although the economy generally requires a sustainable annual growth rate above 3.5 percent to carry the country out of a recessi ...View More Issues » View Report »