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LVGEA outlines 3‑year strategic plan to diversify Las Vegas economy
Summary
The Las Vegas Global Economic Alliance told the City Council it will focus on diversifying the local economy, expanding pipeline reporting and boosting accountability through a newly approved three‑year strategic plan and renewed municipal MOU.
Danielle Casey, president and CEO of the Las Vegas Global Economic Alliance, presented a year‑one report and a three‑year strategic plan to the Las Vegas City Council on July 15, describing steps aimed at reducing the region’s reliance on leisure and hospitality and attracting higher‑wage traded sectors.
Casey said LVGEA elected to exercise the first renewal option in a five‑year memorandum of understanding with the city and that roughly 40 percent of LVGEA’s funding is tied to the Governor’s Office of Economic Development. She emphasized new public reporting tools, including a monthly deal‑pipeline report and a quarterly publication to increase transparency and regional alignment.
The presentation highlighted a “Hackman Index” measure of economic diversification, which LVGEA reported at about 74 (with a goal to move it higher), and described specific near‑term work such as site‑selector familiarization tours, workforce partnerships and a regional economic development strategy the organization will steward as fiduciary on a $150,000 EDA grant. LVGEA said some of the organization’s new data tools cost about $30,000 annually and that certain familiarization tours cost about $60,000 a year.
Councillors asked LVGEA to provide more granular data on how the organization’s pipeline work and outreach will translate into opportunities for historically underserved neighborhoods, and Casey said staff will follow up with ward‑level briefings and coordination with city economic development staff.
The presentation was a report only; no council action was required.
