Business News: Reno’s economy among tops in U.S.

Reno once again ranks as one of the economically best-performing cities in the United States, and its star is rising.

The Milken Institute, a think tank headquartered in Los Angeles, reported recently that Reno ranks fourth in the nation in economic performance among 200 large metropolitan areas. That’s up from the 11^th-place ranking for Reno in last year’s study of Best-Performing Cities.

The rise of Reno is particularly noteworthy because it’s an indication that non-traditional tech and employment centers are rising into prominent places in the U.S. economy, said Kevin Klowden, executive director of the Milken Institute Center for Regional Economics.

He noted that the fast-growing technology sector in Reno ranges from Tesla’s Gigafactory to a cluster of data centers to a thriving logistics and drone sector.

Those new jobs are diversifying the region’s economy beyond its traditional reliance on distribution and tourism.

On the other hand, the Milken research noted that home prices in the Reno area remain high in comparison to wages, and Reno is among the least-affordable places in the country. That poses a threat, researchers said, both to retention of current workers as well as future economic growth.

The annual Milken Institute rankings are based on job growth, wage growth and measurements of innovation-industry metrics. The results help investors and policymakers understand what parts of the nation are prospering and the reasons for their success.

The newest study found that the San Francisco region has the strongest economy in the nation, followed by Provo, Utah, in second place, and the Austin-Round Rock region of Texas in third. 

Along with Reno, other strong-performing mid-sized cities include Boise (ranked seventh) and Melbourne, Fla. The Florida city, ranked 10^th, has a strong defense industry.

Business News Briefs

New Executive Leadership Appointments Announced as Northern Nevada Health System Expands — Helen Lidholm, BSN, MBA will join Northern Nevada Medical Center as chief executive officer, succeeding Alan Olive, MPH, MHA who has been named chief executive officer of the new Northern Nevada Sierra Medical Center. Together they will lead the strategic approach and operations of their respective hospitals, as well as affiliated points of care delivery across the comprehensive continuum serving the growing health care needs across the greater Reno-Sparks market.

The Reno Phil Awards Five New Musician Contracts — The Reno Phil has awarded contract positions to the following musicians: Joseph Peterson, Second Trombone, Sarah Coyle, Section Violin, Jordan Pyle, Second Oboe/English Horn, Luciana Gallo, D.M.A., Section Cello, and Ed Wharton, Section Viola.      

A Cent$ible Partnership: Program Promotes Financial Literacy to Student-Athletes — One Nevada Credit Union, the title sponsor of Nevada Interscholastic Activities Association (NIAA), has launched Cent$ibleStart, their new financial knowledge program to help NIAA student-athletes and their families build financial strength and stability. The announcement was made March 6 at the NIAA/One Nevada State Basketball Championships and at the annual Nevada Athletic Director Conference.

Meredith Montoya Welcomed as New Development Support Specialist at Catholic Charities of Northern Nevada — Montoya will assist the CCNN development team with increasing fundraising support through corporate and volunteer work and monetary gifts to help support Northern Nevada’s most in-need community members. Her responsibilities will include: special event planning, marketing, fundraising, and corporate outreach.

Sage Ridge School Earns AP® Computer Science A Female Diversity Award — Sage Ridge School has earned the College Board AP® Computer Science Female Diversity Award for achieving high female representation in AP Computer Science A. Schools honored with the AP Computer Science Female Diversity Award have expanded young women’s access to AP computer science courses. 

The Nevada System of Higher Education (NSHE) Board of Regents awarded the 2020 Rising Researcher Award to Mark Hausner, Ph.D. — This honor is given annually to researchers from DRI, the University of Nevada, Reno (UNR) and the University of Nevada, Las Vegas (UNLV) based on early-career accomplishments and potential for future advancement and recognition in research.  Hausner is an assistant research professor with DRI’s Division of Hydrologic Sciences, and specializes in ecohydrology, the study of interactions between water and ecological systems. 

– Compiled by Darcy Lenardson