The Recruiting Landscape of Fabulous Las Vegas. The most dynamic city in the World >> 0 >> 1 >> 2 >> 3 >> 4 >> QUICK FACT:

Size: px

Start display at page:

Download "The Recruiting Landscape of Fabulous Las Vegas. The most dynamic city in the World >> 0 >> 1 >> 2 >> 3 >> 4 >> QUICK FACT:"

Johnathan Boyd
5 years ago
Views:

1 The Recruiting Landscape of Fabulous Las Vegas The most dynamic city in the World QUICK FACT: Only 3.6% of residents are true Native Nevadans 1

2 The DNA of Las Vegas Las Vegas People Population Ethnicity Gender Age Las Vegas Population 2,000,000 1,800,000 1,600,000 1,400,000 1,200,000 1,000, , , , , Population 2

3 Las Vegas Ethnicity 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% Race African American American Indian Asian/Pacific Islander Hispanic White Other Las Vegas Gender 53.0% 52.0% 51.0% 50.0% 49.0% 48.0% 47.0% Female (52.4%) Male (47.6%) 46.0% 45.0% Gender 3

4 Las Vegas Age 25.0% Age 20.0% 15.0% 15.8% 17.7% 20.2% 17.7% 17.7% 10.0% 10.8% 5.0% 0.0% Las Vegas Income Median Income $53, % 20.0% 15.0% 10.0% 5.0% 16.7% 12.0% 11.1% 7.3% 22.5% 12.2% 8.1% 9.9% 0.0% Under $20,000 $25K - $34,999 $50K - $74,999 $100K - $125K 4

5 Las Vegas TALENT WAR: The National Labor Shortage Required Workforce (Bureau of Labor Statistics) US Population (US Census) 5

6 Las Vegas unique problem Fastest growing City/State for 19 years. Typically we maintain one of the lowest unemployment levels in the country Our educational infrastructure does not produce the quantity we demand. We are building at an unprecedented rate compared to all other markets. Our workforce is aging at a higher rate than other markets. Simply Put: We are having a hard time managing growth 6

7 Las Vegas BOOMS!! Job Creation 60,000 50,000 40,000 30,000 20,000 10, Las Vegas Original BOOM!! 41,600 Jobs Year:

8 Las Vegas First BOOM!! 59,700 Jobs Year: 1994 Las Vegas Second BOOM!! 52,300 Jobs Year:

9 Las Vegas Third BOOM!! 51,300 Jobs Year: Las Vegas current mini BOOM!! 11,000 Jobs Year: 2006/2007 9

10 Las Vegas BOOMS!! Job Creation 60,000 50,000 40,000 30,000 20,000 10, Las Vegas next BOOM!! Job Creation 160, , , ,000 80,000 60,000 40,000 20, /

11 Las Vegas NEXT BOOM!! 145,000 Jobs (minimum) Las Vegas NEXT BOOM!! New Development Project Cost Completion Date Rooms CityCenter $7.8 Billion Late ,343 Encore at Wynn $2.2 Billion Late ,054 Palazzo $2.6 Billion Done 3,068 Cosmopolitan Resort $3.0 Billion Late ,000 Project M $1.0 Billion Spring Echelon Place $4.8 billion Late ,300 Fontainebleau Las Vegas $2.9 Billion Fall ,812 Caesar's Palace - Tower IV $1.0 Billion Early ,017 Plaza Hotel $5 Billion ,100 South Pointe - Expansion $95 Million Late Planet Hollywood Towers $1.2 Billion August ,228 Eastside Cannery $250 Million September Golden Nugget - Expansion $150 Million Hard Rock Hotel - Expansion $750 Million Mid Aliante Station $675 million Late Trump Towers $600 Million April ,282 Palms Place $650 Million March Las Palmas Trump International - Tower 2 $2.5 Billion $625 Million ,282 11

12 Las Vegas NEXT BOOM!! Again.. This is over 145,000 Jobs (minimum) 12

13 What do these BOOMS do to unemployment levels 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Less reliant on gaming employment 13

14 More reliant on non-gaming employment Business/Professional Services Construction Government Leisure & Hospitality Retail Education & Healthcare Transportation & Warehousing Other Services Financial Activities Manufacturing Wholesale Information Natural Resources 6,400 6,300 5,300 3,500 3,400 2,400 1,900 1,600 1, ,900 15, Job Creation 145,000 Employees Where we will find them? Out-of-Market 14

Top Migratory States California 14.4% Michigan 8.01% New York 5.84% Florida 5.70% Texas 5.05% Ohio 5.00% Illinois 4.90% Pennsylvania 3.48% Arizona 2.57% Minnesota 2.

15 Top Migratory States California 14.4% Michigan 8.01% New York 5.84% Florida 5.70% Texas 5.05% Ohio 5.00% Illinois 4.90% Pennsylvania 3.48% Arizona 2.57% Minnesota 2.21% New Jersey 2.02% Three target demographics College Students Graduates Drop-Outs Empty Nesters East Coast Cold Regions Career Enthusiasts Cities Downsizing Natural Disaster Areas 15

16 QUICK FACT: Three out of four Americans under 28 first pick a place to live and then find a job - Next Generation Consulting Why Las Vegas is so great! Quality of Life Issues: 330 Days of Sunshine Each Year Lakes, Mountains, Skiing, Golf, Restaurants Low Taxes Easy travel in & out Career Advancement Opportunities Entry-Level get maximum experience Mid-Level get glass ceiling removed Sr. Level get pre-retirement opportunity. 16

17 Reasons we Live in Las Vegas For a better lifestyle 21.7% Job Transfer Other Like the Area Live near relatives Find a job Retirement Born here 14.6% 12.7% 11.4% 10.7% 9.0% 8.4% 7.6% Health reasons 4.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% QUICK FACT: Nevada s hotel-casinos pay average wages and salaries 37.7% higher than the national average. 17

18 Las Vegas Competition CITY GROWTH 1 Las Vegas, NV 35.5% 2 Orlando, FL 28.3% 3 Riverside, CA 26.7% 4 Austin, TX 24.7% 5 Phoenix, AZ 24.3% 6 Jacksonville, FL 20.8% 7 Tampa, FL 19.7% 8 Dallas/Fort Worth 19.4% 9 Charlotte, NC 19.0% 10 Atlanta, GA 18.8% Three hidden talent pools Trailing Family Members Teachers Nurses Your own hires Pre-Retired Community Summerlin Sun City - Anthem Exiting military Nellis Air Force Base 18

19 The Trailing Spouse GAMING (2.5 (2.5 Jobs Jobs per per room) room) SUPPORT GAMING (1.5 Jobs per Room) HEALTHCARE (800+ (800+ Jobs Jobs Annually) Annually) EDUCATION (3,000+ (3,000+ Jobs Jobs Annually) Annually) Public/Gov. (6,000+ (6,000+ Jobs Jobs Annually) Annually) Engineering/Tech (100s (100s Jobs Jobs Annually) Annually) Some Great Resources UNLV-CBER - Nevada Workforce Informer - Las Vegas Perspective - Nevada DETR - Recruiting Nevada - Las Vegas Visitors & Convention Authority - Social Networking Calendar Levy Productions - Relocation Guides

20 Thank You For a copy of PowerPoint presentation, send to: Doug@RecruitingNevada.com Douglas T. Geinzer

EXECUTIVE SUMMARY. hospitality compensation as a share of total compensation at. Page 1

EXECUTIVE SUMMARY. hospitality compensation as a share of total compensation at. Page 1 EXECUTIVE SUMMARY Applied Analysis was retained by the Las Vegas Convention and Visitors Authority (the LVCVA ) to review and analyze the economic impacts associated with its various operations and southern