How Do I Sign Nevada Banking Presentation

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[Music] good morning i'm mike kasmerski and welcome to our annual economic development update first of all happy 2021. somehow we survived 2020 and now it's on to the new year although this update is not in person we will present the usual updates the updates you see you've seen over the last several years where jeremy aguero is going to provide his lightning round of update and then we'll provide you the edon update which includes how we did last year and where we're going next year but first i want to welcome some of our new investors as a non-profit we can't do our job without investors and and here are some of our newest platinum investors and that's really our highest level very significant support at the platinum level but we also have two new presidential gold members and quite a few gold investors and really without this investment support especially this year where we've seen a reduction in funding at the state level and the support from our local governments without this we could not have operated the way we did this year at the start of every year we'd like to welcome our new board members and we have four new business representatives joining our boards steven asquaga from the pepper mill julie kosice from chase helen lindholm from northern nevada medical and chad martinson from akova health welcome and oh by the way we also have community representatives on our board most of you don't realize we have a community board that has all five of our local governments represented as well as our four education institutions and here are some of the changes two of our new elected official officials christopher dare and von hartung and then our superintendent kristin mcneal and our president of the university brian sandoval as well as the story county manager austin osborne so we're excited to have the community reps joining our business reps to to have that representation on our board of course every time you bring new board members on you have to say farewell to some some dynamos that are supported and engaged with our community on our board for for several years and here are our list of departing board members we really want to give them a big round of applause a virtual round of applause for all they did to support edon and the community efforts now like most years it's exciting to be able to welcome jeremy aguero to give his dynamo presentation and most of you know jeremy from prior presentations but he really is somebody who understands what's happening across the state and can give us a good feel not only for the state economics but what's going on with the pandemic and what's going on with the state budget so let me turn it over to jeremy thank you [Music] hi my name is jeremy aguero i was asked by edon to give you a little bit of an update in terms of where we see the economy now and where we see it headed i want to express my thanks to edon for the invitation and for all the businesses that are participating in today's event there's no presentation we can give without starting to talk about the fight against covet 19. while we've certainly made huge progress it remains a worldwide challenge for the globe and the global economy if we compare nevada against washoe county against the united states in terms of where the number of cases are washoe county is clearly performing better than both the state of nevada and the united states but i wouldn't want to leave anyone with the impression that the coven 19 crisis is somehow behind us if we look at the world health organization and what its target is if you will in terms of the the the positivity rate we can see that the state of nevada as well as washoe county still remains relatively elevated in terms of that overall in addition to that while hospitalizations are down significantly off where they were just a couple of months ago they do remain elevated still today and while progress is being made whether it's the governor or the legislature or other local officials they're taking it very seriously in terms of our continued fight against covet 19 here in the state of nevada progress is clearly being made relative to the vaccine overall the availability this is as many have stated light at the end of the tunnel in terms of us getting past this particular crisis and in northern nevada this dual lane program in terms of getting the vaccine out has had frontline community and support workers start getting the vaccine as well as those or older clearly at making increased progress one of the biggest challenges we face in nevada is at least some organizations report that we have the lowest number of adults with age-appropriate vaccinations and so this is a challenge as we get people to feel comfortable in terms of taking the covid19 vaccine to be clear the state of nevada and northern nevada isn't dealing with a single crisis it's actually dealing with five crises a public health crisis an economic crisis a fiscal crisis a social crisis and in some ways even a legal crisis overall and this creates a paradox of prosperity i hear it all the time we're doing good business is up those type of things but it's not true for everyone and it does create something of a dichotomy if you will let's talk through that just a little bit we know for example that taxable retail sales are up but somehow how is that possible right now taxable retail sales in washoe county are at the highest level they have ever been and we have grown almost through the entirety of the pandemic again how in the world is this possible the answer to that is this is stimulus federal funding that has flowed in to the state of nevada it was designed to do something very simple have us hit the pause button well science got ahead of covid that stimulus would help get us to the other side of that challenge how did we fund that stimulus we essentially printed money to fund that stimulus overall as a matter of fact we we printed an unprecedented amount of money in the united states in order to fund the cares act and frankly other programs that have gone along with that in terms of federal stimulus the result of that has been an unprecedented increase in u.s personal disposable income the money that you have and i have to spend on everything that we spent 2.8 trillion dollars in increased disposable income that's flown through our economy throughout the united states certainly here in nevada and without a doubt throughout northern nevada that has not only affected the united states this is what the increase in personal income is looked like for just the state of nevada increasing by 24.5 billion dollars between the second quarter of 2019 and the second quarter of 2020. how did folks spend those dollars they spend in many different ways matter of fact taxable retail sales is up 4.8 percent but if you look at where the greatest amount of sales is increased it's in non-store retailers the amazons of the world that all of us have been ordering on in order to sort of make our way through this challenging economic time we cannot underestimate what 22 billion dollars did for the state of nevada's economy or the washoe county economy 17.6 billion of dollars worth of that was just from the cares act alone and if we look at how those dollars were created 8.8 billion dollars in direct payments to individuals 4.2 billion dollars in small business direct payments essentially grants to many of those small businesses and 1.25 billion dollars that went to governments here in the state of nevada and many many other programs our gross domestic product dropped like a rock during covet 19. but as you can see from this chart it was almost directly offset by the amount of federal stimulus coming into the economy congress has recently passed another 900 billion dollar billion dollar stimulus program and the incoming president expects to add somewhere in the order of another 1.9 trillion dollars in terms of federal stimulus and additional payments to individuals and additional stimulus for any number of activities not the least of which are state and local governments beyond that we've got employment growth i hear it all the time look jobs are still being created yes they are but not everywhere let's take a little comparison at essentially three periods one the period after september 11th second the worst period after the during the great recession and where we are today or where we were during the covit 19 crisis or the worst of the covet 19 crisis these are initial and continued unemployment insurance claims here they are during the worst period of september 11th here they are during the worst period of the great recession here's what they look like during the worst period of covid19 dramatic and yet somehow the reno msa shown by the dotted green line performed remarkably better in terms of the unemployment rate than the state of nevada and certainly southern nevada represented by that black line the difference being those blue columns that are provided below so how in the world is that possible well we need to give credit where credit is due certainly economic development and diversification has benefited northern nevada and helped stabilize the economy during an uncertain time if we look at pre-covered 19 job growth rates the reno msa was growing roughly on the the top half if you will of major metropolitan areas across the united states now reno is not one of the top 30 msas nationally but i wanted to show it in terms of order of comparison let's look at employment growth in the reno msa between november of 2015 and november of 2020. sort of where was it growing 23 000 jobs created and about half of those being in the manufacturing industry clearly economic diversification then we have the onset of covid19 between march of 2019 and march of 2020 very early in the pandemic you see that the las vegas msa started to decline almost immediately where the reno msa continued to power forward and if we look at that job growth between january and march of 2020 again very early in the pandemic we see a shift in how employment was growing more government more construction and some instability 2 800 jobs still being created at the front end of the crisis now we look at post covid19 november 2019 to november 2020 yes northern nevada is doing better than southern nevada and better than many other major metropolitan areas across the country but a 5.2 reduction in employment is nothing to ignore as a matter of fact almost every sector of the economy continues to show year over year declines in job growth with some manufacturing financial activities outperforming the balance overall still 13 000 jobs lost over the past 12 months if we look at the reno msa employment we compare the great recession with the covet 19 downturn you can see that during the great recession northern nevada lost 41 000 more than 41 thousand jobs over three years by way of comparison it lost almost 42 000 jobs in just two months the recovery from the great recession took 88 months and there's no doubt that this recovery has been stronger but we still have a long way to go to get to a point where we are truly recovered the housing market is probably the greatest example of this paradox of prosperity i hear it all the time reno's average home price is now 500 000 half a million bucks up 25 in just the past seven months unreal right perhaps a better example but both new and existing home prices are at the highest level they have ever been even when everything is included so how in the world is this possible the reasons for it are threefold number one is lifestyle choices number two is limited availability and number three is remarkably low interest rates we should not be lulled into a sense of complacency that this is somehow normal let's just think about it in terms of lifestyle changes prior to covert 19 this was my home this was my office my gym where my kids went to school this is where i took my beautiful vacation by contrast with coven 19 this is my home this is my office this is my gym this is where my kids currently go to school and this is where i took my vacation last year you see those dollars flowing back in limited resale availability there is a supply side deficit in northern nevada this is the relationship between employment and the number of housing permits that are pulled there are about 1.35 employees for every household but reno's not building anywhere near that number of houses and so if we look at the number of units that are available we look at the months of effective inventory they are at ridiculously low levels putting upward pressure on prices there's no doubt that both new and existing home home construction is going up but not fast enough to meet that in addition to that mortgage interest rates are at the lowest level we have ever seen right at least in any of our lifetimes and a typical home buyer a year ago faced a rate of 3.7 percent in terms of interest a four hundred thousand dollar loan principal and interest was eighteen hundred and forty one dollars you think this is great it goes down by two point seven percent my principal and interest goes down to sixteen hundred and twenty two dollars i'm saving twenty six hundred dollars every year uh-uh that's not what we did at all by contrast what we did is said at 1841 dollars that i could afford to pay that allowed me to buy a 400 000 take out a 400 000 loan instead of doing that what i did is took out a bigger loan 450 000 loan essentially increasing that price by 13 and a half percent that is a big contributor to it overall if we compare incomes to housing prices and look at the ratio they are splitting up they are moving in the wrong direction it is becoming unaffordable it is becoming unsustainable and what we're going to see is a substantial decrease in affordability if so many of us are living in a home that we cannot afford if we had to go out and purchase it today that is a problem that is not sustainable quality of life is probably among the most important things to folks living in northern nevada it's one of the most beautiful places anywhere on planet earth right population growth however is continuing to move in and it's part of that wonderful quality of life that's making nevada remaining among the fastest growing areas anywhere in the united states population growth on the population on the left population growth rate on the right continues to be remarkably high and if we look at near-term data for electric meter connections what it suggests is not only is the population rising but the population is rising at an ever-increasing clip overall and where are folks coming from california also adding to the price of housing there's no doubt about that but california is only one of nine states that's seeing an out-migration of population and where are they going one of the biggest places is northern nevada how in the world do we sustain that quality of life with that level of population growth the answer is it's going to be almost impossible to do the state of nevada is principally dependent on three primary revenue sources sales tax property tax and gaming taxes all of which have real stability problems on the left hand side is our property tax revenue and if we inflation adjust it we are back to where we were in about 2007. on the right-hand side is how much we're going to abate in property taxes this year alone in the state of nevada over a billion dollars overall and let's do some of the legislative math in the 2019 2021 biennium there was a legend the total revenues were about 9.1 billion dollars we run in to this crisis right this this covet 19 crisis we expect revenues to drop to 7.7 billion dollars they come in about 8.1 billion dollars that's good the the governor goes out and asks all of the agencies how much money do you need to fund government they need 9.7 billion dollars to maintain the level of services but the economic forum in december of last year comes out and says hey this is where this is a problem you're only going to have eight and a half billion dollars governor then creates a budget of about 8.7 billion dollars how in the world do all of these numbers make any logical sense the governor has to spend what the economic forum allows but they also have rainy day funds and some one-time money that came in ove expectations so that got us about 200 million more dollars and that's good right we also had 8.1 billion dollars in terms of the total revenue available last biennium in this biennium it's about 8.7 billion dollars that's good we have 600 million dollars more but here's where the troubling piece comes in agencies indicated they need 9.7 billion dollars like health care and education in order to maintain services we only have 8.5 billion dollars no matter how we cut it or carve it we're dealing with a 1.2 billion dollar structural deficit as the legislature goes in it goes to work at the beginning of february even if we take the most conservative approach we had 9.1 billion dollars worth of revenue now we're going to have 8.7 billion dollars worth of revenue we're still 400 million dollars short even if we assume providing services does not cost any more this two years than it did the last two years which is clearly not the case maintaining the level of service maintaining the quality of life may be the greatest battle that northern nevada has on a go for basis and finally if we think about it in terms of developing projects there's no doubt that northern nevada is investing into its future 15.4 billion dollars worth of projects are planned proposed or currently under construction with completion dates in northern nevada a phenomenal amount overall when we look at some of those projects and we dig more deeply into them we look at from the residential side an average apartment is about 1400 bucks in northern nevada by contrast at the reno experience district the expectation for a similarly situated apartment is almost 2 200 now this is one of the most phenomenal projects i've seen i want to be clear about that but it is pushing rents and if we look at ranchera or we look at skypoint reno we know the same thing is happening on the commercial end of the spectrum and while reno is doing remarkable things there are real challenges and what is underneath all of this is important other metropolitan areas have experienced similar things this is an article from barons in the late 1980s called phoenix descending and item not suggesting washoe county is somehow descending but what it talks about in terms of how people were thinking when growth you can't get hurt in dirt we thought the growth would never end we were diversifying our economy how sustainable was it we can take those lessons learned and make sure we protect northern nevada from the same challenges have no doubt whatsoever the pandemic will come to an end and businesses will will reopen they'll get to full capacity i have no doubt about that and northern nevada is well positioned for its future growth that having been said prosperity in northern nevada will not be by accident there are real challenges there are real uh factors that are underlying the prosperity that is happening today and sustaining them is going to take everyone working together and pulling in that same direction i can't thank you enough for the opportunity to be here [Music] jeremy what a great update you can now take a breath we know that you plow through quite a few slides but you really have given us a great feel for what's going on across the state and we want to thank you for that now i know many of you are zoomed or videoed out so we're going to condense the edon portion of this presentation down so it'll be pretty quick as well and again the goal is to try and give you something that you can watch when you have a chance and not an hour and a half of updates so let me get through this quickly and i'll start with saying most of us would agree 2020 was a bummer i think uh from from everyone's perspective it was a it was a lost year jeremy just touched on the pandemic and talked about how it's going and our numbers are actually getting much better so thanks thankfully for that but as a community and as economic development we have weathered the storm quite well and we'll talk about that here's some of our national recognition over the last year and again we continue to show up well nationally for our economy and our quality of life and the pandemic has actually brought more of our strengths to light especially for companies in california what this pandemic has really showed us is the value of diversification and we have diversified our economy pretty aggressively over the last 10 years you can see up until about 2015 we were in almost directly in line with what the unemployment rate was in vegas and then as we diversified the economy that started to separate and up until the pandemic the difference wasn't that dramatic but clearly when the pandemic hit and our gaming and tourism economy lagged as well as some of the retail you can see the huge spike in unemployment in the vegas area compared to our spike which also spiked but now we're back down to in fact most recent numbers down to five percent even below the national average so that's pretty exciting for our community it shows really the history of diversification in northern nevada diversification also means more sales tax revenue and that's great news for our local governments you can see the dip when the government the state first closed everything but as we started to open back up and we started to get manufacturing workers back to work and our logistics distribution workers aggressively doing their job you can see our numbers year-over-year actually higher on the sales tax revenue side this year than last year and it's hard to believe but our gaming numbers from a gaming revenue perspective are essentially the same as they were last year pretty shocking considering that our gaming institutions are at 25 capacity in a lot of ways so this again shows you the value of diversification our employees are working they can't go on these long trips so they say what the heck why don't we go enjoy what we have here in the community finally want to talk when you talk about diversification you talk about the kinds of jobs coming to our community and again advanced manufacturing technology and even logistics distribution e-commerce we're starting to see more and more wage increase there and this is a dramatic example of what's happened even in the last seven years to see the average family wage go up 45 percent really a direct result of our diversification efforts so the strategic plan you've all seen the stool before or pretty much almost everyone the three legs are three areas of primary focus attracting great companies retaining the existing companies helping them grow and organic entrepreneurial growth workforce development is very important to all three legs and community development is the foundation upon which our plan really rests the pandemic has changed some things i think most people realize that we're never going to go back to the way we were before the pandemic so what are we doing on the economic development side to adjust these changes and seize on the opportunities presented by the pandemic clearly the big three california california california remote work life has changed because of remote work and it's helped us in many ways and workforce development what are we doing to prepare ourselves for the new jobs that are coming so we'll talk a little bit about about the pandemic changes and how we've adjusted our plan as we go forward on the attraction side in our attraction team stan chris and norma have really put themselves out meeting with many of the prospects coming to our our region putting themselves at risk for the greater good of our community so i want to thank them for that but when it comes to attracting here are some of our priorities we mentioned california and corporate headquarters clearly higher paying jobs are something we really push for we talked about california life in california is different and many of the companies we worked with that we're thinking about coming are now coming and there's a lot of reasons for that clearly the pandemic is has uh showed how california is trending how they're responding likely tax increases blackouts all the things associated with california that especially manufacturers and others just can't tolerate if they're going to continue their production the way they need to so we're seeing more and more of that exciting activity and our proximity to the bay area has been really an asset because many of the prospects are driving up here as opposed to having to fly somewhere so how do we do in 2020 most people would say we survived i will tell you on the attraction side we thrived and if you look at these numbers 30 companies over 2 000 jobs and a good mix of manufacturing technology logistics distribution a great a great move forward considering essentially this um this economy was shut down nationally uh we've still been able to do a great deal up here and getting the right kinds of companies coming in and those corporate headquarters are really important this kind of shows you our prospect visits and again prospect visits are a precursor to future announcements the more we can get a company to visit the greater their chances are they're going to come here you can see the huge dip at the beginning of 2020 and as the year went on we got more and more visits and even this last quarter now we're almost back to where we were eight to ten is what we try to target every month when they visit here we show what's going on in our economy we generally land them here so this this tells this should tell you that our pipeline is looking better and better as we go forward speaking of pipeline pending announcements here and again california is is you know top billing for the pending announcements because they've had a chance to travel here visit here and these are a great mix of manufacturing technology and just distribution companies but our hot prospect list these are companies that are very interested we've worked with them whether it's through zoom or electronically in other ways sending them updates you can see a lot of a lot of these companies are not in california and as soon as that corporate travel piece opens up they're likely to come here and we would expect many of these companies to decide to relocate to this region now again this is just the top of a list of about 150 companies we're working with so it just gives you some sense of the activity we have now and through the pandemic and what's really lined up for future growth in the in the coming months so that's the attraction leg let's shift to the retention expansion leg and workforce is included that team led by nancy cynthia and amy are really out there working with our local companies first to help them succeed and then addressing workforce needs as we go forward on the retention expansion side it's all about helping these companies whether they're new companies getting them settled in and helping them get their business up and running or existing companies having to deal with the pandemic and and addressing automation or changes in in the way they do work we get many calls here on a regular basis and we we are here to help those companies our existing companies and the new companies coming help them grow here on the workforce side it's about employer needs we focus our program on how do we help these employers new and future meet their employee needs and that's a constant challenge companies need quality talent so how do we help we help the education pipeline are they training and educating the right kinds of future employees are they doing putting in the right skills we help on the attraction side are we bringing some talent to the region and the remote workforce piece is a big part of that and we connect the entire ecosystem so that we're working on this together our economy really is dependent upon that transition to the fourth industrial revolution and the the pandemic has actually accelerated that that automation more automation i mean how many you know robots don't worry about social distancing and they don't get sick so you have a real push that automation is becoming more and more apart especially in manufacturing but even logistics distribution and e-commerce and so many of our new jobs require new skills and those those jobs that will be lost by automation will be replaced by the new jobs that will actually be paying much more so it is a transition that we're going through but we want to help our employees and our community make that transition so they do qualify for those higher paying jobs and then you look at this list of jobs that are are declining we know that many of the jobs in the in the country are going to experience this the key is what are the new skills that these these employees who are going to lose their job or in some cases their jobs are going to change what can we do to help them meet the needs of these future job requirements so the new skills are key to that every employee and every employer should be looking at this now we look at meeting the jobs of the employers now but ultimately we need to meet the jobs of the future and that means k through 12 our education institution developing the skills of the future what are we doing on coding and robotics and integrating all of that at the lowest level so that our kids become the employers of the future and they're transitioning into a position where they can really step into one of these great jobs that we're working so hard to bring to our community you've seen the attraction lag we've talked about the retention expansion of workforce leg now it's all about entrepreneurial development and startups organic growth and the startup leg has had a pretty good year considering they they really thrive on networking which has been constrained in many ways we're looking at 30 new companies some of them are listed here on the screen that have been really generated through that connection and that support of the community so that we get organic job growth these are small companies that will someday uh with the right kind of help become great companies large companies with high paying jobs and and i want to take a minute to thank doug brian and katie and our newest addition victor to the team working on this has not been easy when you're in a zoom virtual world pretty much but they've done a great job and you can see obviously this has been a very successful year for them on the ecosystem growth side a lot of different organizations have stepped up and and done more arnox is the accelerator program that's helping companies after the seed fund you accelerate them up to the point where they can get significant funding opportunities and grow right here in the region the northern nevada entrepreneurial network is is a way to network the ecosystem our entrepreneurial ecosystem now is better than ever and that networking is something that we want to work on in fact as we work with those companies we want to assist them in connecting in any way we can and that that northern nevada entrepreneurial network is one of them and then finally investment it takes funding of some sort to help these startups grow and so the reno seed fund is something we launched a couple of years ago i want to thank gene wong for his efforts he's done a great job helping us launch that program and invest in quite a few companies at this point and those companies have gone on to fairly successful launches and they're growing right here in our community so that reno seed fund is an important part of what we're doing you can see some of the companies they supported there and as i mentioned the ecosystem we did a survey of our entrepreneurial ecosystem and two areas or two hot spots that jumped out no surprise in the funding i mean our entrepreneurs and our startups always need funding whatever we can do to help them acquire the funding so that they can grow is is really important that is something that jumped out but the but the ecosystem awareness so that they know where to go so that we can help them connect whether it's mentoring or whether it's how do they prepare for you know higher level funding ask all of that is part of the ecosystem awareness and and we really want to work on that because the pandemic has shut down much of that and we we're excited to see as the pandemic wanes getting that up and running again because it's really th t face-to-face synergy of the entrepreneurs that oftentimes create ideas that grow so over the entrepreneurial team the 2021 goals grow connect and fund and really continue to help these companies grow we need to help them connect not just with each other but with the investors with mentors and with others in the community and then fund at the end of the day these startups will need support funding support if they're going to grow and be successful if you look at the three legs and all the things that are going on it's pretty easy to say that despite this pandemic things are going pretty well in the renal sparks area and we're excited by that we've got a diversified economy it's weathered this storm quite well and we're on track for a quick recovery and in some some would say we we haven't even really uh suffered the effects of the pandemic like most communities so that's pretty exciting you look back at 2020 and where we're going on 2021 and really the future is bright but we do have some areas we got to work on as always it's a as a community we need to improve in certain areas and this should be no surprise i mean these three areas uh affordable housing education funding and homelessness are three things that we've talked about for quite a while and it's just something we want to continue to work on on the affordable housing side it's a supply and demand issue if we don't have enough supply and the demand is going up what happens to the prices i mean you know they got to go up and that certainly is what's happening as prices go up it's much tougher for someone to afford to buy a house so they now need to move in multi-family we've got high demand for multi-family the apartments and condos those prices are going through the roof as well so it is an area of concern it continues to be a serious issue in my opinion the top issue for our community as we look forward and the pandemic has actually exacerbated it made it much worse um you know from a pandemic perspective you got people that may not be getting may not be employed in the you know small business area or retail they're not getting a paycheck their wrenches went up 20 now what do they do and you know these these um potential evictions will start to hit us now which is going to make it even worse i want to thank brian bonifa for his support on on working the data when it comes to housing you can see his chart here is pretty uh pretty dire when you look at it you see pre-recession numbers where we were building and adding to our economy over 5 000 housing units a year and now the recession hit you see that big dip we're back up now almost to 5 000 this year but we've averaged in the last five years less than 3 000 yet our region is one third larger so how does that work i mean that's what that's what's when you talk about supply and demand clearly this this is a reflects our shortage on supply and then what does that do you see back in 2005 that bubble that was really a bubble because it wasn't driven by sustainable demand what we're going through now is look may look like a bubble but as long as we have real jobs sustainable demand on housing that number's probably going to go up and it's not it's not a bubble i keep telling people it's not a bubble this is this is driven by real demand in our community and the pandemic and actually remote workforce we've got some people coming here that work remotely we've got companies coming here so the pandemic is actually accelerating some of this growth this is kind of this chart i love to talk to you because it it really projects where we're going on future housing and permits you got to pull a permit but you don't have a house that day obviously you're 18 months or a year two years away from actually having a housing unit and what's scary about this is we are at the lowest level of permits polled in the last five years and you can see that top bar was pre recession numbers in the six thousand range when we're pulling two to three thousand units instead of our goal of forty five hundred we continue to add to our deficit in housing and that's really really talks to what likely is going to continue to be a problem for us this is some some things other communities have done to address this challenge incentives there are things you can do to incentivize affordable housing infill what are you going to do to take the land you have now and make it you know provide more housing units per square mile that allows for less sprawl and other things and the truckee meadows land lands bill we've talked about before will add you know 90 000 acres to our region that we can take and use to grow expand some of our housing opportunities and i mentioned a lens bill here what's also great about the lands bill as that moves forward is 10 percent of the revenue goes back into the community supporting parks and trails and other things that are important from a quality of life perspective and also by the way provides quite a bit of land for housing so that's really one area housing it's continuing to be a problem and in fact i would tell you it's probably getting worse the second is education funding education is not from a funding perspective a priority in nevada and this report card that the state received last year is is a great indicator i mean if your kids brought home a report card like this you'd have a nice long talk with them well maybe it's time we had a nice long talk with our legislators because this is something that needs to be fixed you can see what that does from a washer county school district perspective yes funding has been kind of stable and maybe even some would say have has gone up in in dollars but when you look at what they can actually spend when you plug in inflation it's really a third less than what they had just seven years ago and if your disposable income your spending power as an individual was the third less you'd have problems right now and that's exactly what they have problems washer county school district has has had to make quite a bit almost 70 million dollars in cuts over the last a couple of three years and you know it's likely not to get any better any time soon with the state funding cuts that they're already talking about and the ones that we we're looking at for this coming year so this is a pretty serious issue if we're talking about fourth generation jobs and educating the employees of the future in our k-12 system and yet we're cutting cutting cutting we just can't do that our children really deserve better most people think well that's the way it's always been in nevada no in 19 in the 1980s we were actually the top half of funding for education in the nation and now we're at the very bottom what i'd ask you to do if you want to help is sign the education pledge fundnevadafuturenv.com is the site where you can go to to sign up and say i think education funding should be our top priority if we fund education and we can fill these quality jobs we're going to grow the economy and we're going to have the revenue to do everything else i'll tell you that i think education funding is should be the number one thing as a state we address so the third area and this is again no surprise funding for education housing affordability and homelessness and in some cases they're all kind of connected the covet crisis actually made the homelessness problem even worse and and clearly when evictions start and we won't feel it as bad up here but down in vegas and other places where the unemployment rate is still high that eviction moratorium is going to really have an impact on our homelessness according to reno housing authority we have over 3 500 individuals and families on the waiting list to get help for housing and you see many of them unfortunately in the camps around our community and we just need to do something so the good news is we have a plan and you know this is the first time we've really laid out a plan as a community to address this problem and you see the first three phases are coordinating connecting and our local governments are working now better than ever so in phase two we have the namm's campus which is now called our place for the women and children get them out of the weather get them some skills help them through transitional housing so that they they can become independent as we help them move on the path to self-sufficiency and then finally the recent purchase of the cares campus which is about we'll talk about here in a second is a huge opportunity because we can put all our wraparound services around this campus and take care of our homeless not just feed them but help them on a path out of homelessness which is really really the key here and you look at the cair's campus location south west corner of the spaghetti bull intersection the old governor's bowl site 16 acres that our local governments recently acquired but now they need to set it up and we're going to ask for some public support for that in a number of ways in order to get that thing up and running as soon as possible finally and in closing really how can you help this is your homework assignment we often talk about um you know okay we got things we need to work on and i get phone calls well how do i help well i would list this as the top five support for housing initiatives if someone's going to put up you know a condo unit or apartment complex across the street from your housing unit don't be a nimby i mean that's part of what we're becoming help help that housing crisis by addressing in any way you can the supply side because the demand side is continuing resolving a homeless issue we're going to need to help fund some of that so there are things that are we're going to come to the community and ask for help on we need your help the support for the lands bill is part of that affordable housing initiative and ultimately the funding for education piece if you can sign that pledge that would really help as we try to talk to our legislature about why this is important our kids deserve to be adequately funded so that they have the skills to do the jobs of the future that we're working so hard to bring here and then finally a reminder we are a non-profit so if you haven't thought about supporting edon certainly that's something we'd ask you to consider we do this as a team the purple there are our public entities that work with us the white the private entities and and i'll tell you we work very well together this community gets it this is an amazing team as a community addressing our economic development diversification needs and this pandemic has proved how important that is so a special thanks to everyone on that team especially our elected officials for their leadership and their engagement and then thanks to our board our investors and the eat on staff i mean we this staff here is just the best you can imagine they love this community and they're doing whatever they can to help this community grow and prosper and and clearly where we are now as a community is due in large part to their efforts so i want to thank everyone for being a part of this team i want to thank you for your time today and i want to wish you the best happy [Music] 2021. 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