The fountains at the Bellagio hotel-casino along the Las Vegas Strip on Nov. 19. (Photo: John Locher/AP, file)
Nevada Appeal Capitol Bureau
Saturday, July 3, 2021
Nevada saw the nation’s largest percentage increase in gross domestic product in the first quarter of this year.
According to the U.S. Bureau of Economic Analysis, the Silver State increased its GDP by 10.9 percent.
Next closest was Nevada’s neighbor, Utah, at 9.2 percent.
BEA data shows GDP increased in all 50 states and the District of Columbia.
Michael Brown, director of the Governor’s Office of Economic Development, pointed to the return of visitors, funding from the American Rescue Plan Act and efforts to diversify the economy as contributing factors.
Gov. Steve Sisolak said Nevada’s economy took the nation’s hardest hit when the pandemic struck but that the BEA report shows the state is recovering. He said to keep on that path, Nevada must redouble efforts to get residents vaccinated and put them back to work.
In Nevada, the biggest change was the return of the Accommodations and Food Services sector as the Las Vegas Strip reopened.
Brown said that means smoothing the bumps in the economy with increased diversification in manufacturing, energy, technology and healthcare.
Comments
Use the comment form below to begin a discussion about this content.
Sign in to comment