Why Live in Las Vegas?

admin Analysis

People frequently ask why I live in Las Vegas. The answer always produces a puzzled look, “Las Vegas is a nice, quiet city!” To outsiders, used to The Strip’s neon cacophony, that may come as a surprise, but residents will readily agree that this is a pleasant and easy to navigate city.

There is a big difference between The Strip and its surroundings. And it’s those surroundings that offer a prime living environment. So, let’s take a look at factors that make Las Vegas so livable.

Accessibility

Las Vegas is ideal for those who desire maximum mobility:

  • Local traffic – If you live in L.A. or the San Francisco Bay Area, you know what a pain it is to go places. While Las Vegas does have its traffic snarls, in general, it’s far easier and faster to get around. It helps that the city has some of the broadest streets this side of Dubai.
  • Interstate highways – Getting in and out of Las Vegas is usually a breeze, except Sunday evenings when Los Angelenos begin their trek home. On a good day, interstate 15 can take you to Orange County in just four hours. If you head in the other direction, you can be in Bryce Canyon National Park in four hours flat.
  • Airport access – Las Vegas’ McCarran airport is no more than 30 minutes away from most city neighborhoods. Once there, you’ll find a busy hub dominated by Southwest, which had a 38% share of passenger traffic in June 2017. Southwest is a very efficient and low-cost carrier that can take you just about anywhere in the U.S. and the Caribbean.

    McCarran was named the third-best airport in the U.S. by J.D. Power, based on deploying “the latest technologies to maintain a fluid traveler flow.” And with just four inches of precipitation each year, Las Vegas’ mild weather rarely causes delays at McCarran. But due to the wide range of destinations the airport serves, weather problems in other cities, here’s looking at you SFO, can result in delayed arrivals, which then lead to delayed departures.

Business Climate

Believe it or not, Las Vegas is perfect for business and startups. Our friend Walls360 CEO John Doffing put together an excellent infographic. Here are some key stats:

  • Median rent – A two-bedroom apartment in Las Vegas is one-quarter the cost of San Francisco. Hell, you can rent an entire house in Las Vegas for less than a studio in San Francisco!
  • Trade shows – Of the top 250 U.S. trade shows. 54 are held in Sin City, which draws more attendees than runners-up Orlando and Chicago combined.
  • Corporate income tax – There is no corporate income tax in Nevada but if you do grow big enough and your gross revenue exceeds $4 million, you’ll pay 0.051% to 0.331% Nevada Commerce Tax. Look at it this way: you’re helping fund Nevada’s educational system.
  • Local data center – On October 6, 2017, Las Vegas-based data center operator, Switch, went public on the New York Stock Exchange under the ticker symbol “SWCH,” raising $531 million. Switch was founded in 2000 and counts behemoth eBay among its 800 customers. A tour of Switch’s facility is a must-do.

Income Tax

Nevada has no income tax, whoopee! If the Republicans have their way, Californians and New Yorkers will no longer be allowed to deduct state income taxes, which will make Las Vegas look like Nirvana for California’s 39.3 million residents. 😉

Innovation

Nevada is a very innovative state, as is Las Vegas:

Nevada Institute For Autonomous SystemsThe Nevada Institute for Autonomous Systems is a nonprofit corporation charged with leading the growth of Nevada’s autonomous aerial vehicle industry.

Container Park in Downtown Las VegasThe $350-million reinvention of Downtown Las Vegas, spearheaded by Zappos.com CEO Tony Hsieh, includes Container Park — a shopping and entertainment complex made entire of recycled shipping containers and watched over by a fire-breathing praying mantis.

Hospitality and Entertainment

Everyone knows Las Vegas is America’s top U.S. destination for travelers (you can already hear that bachelorette party cheering as your flight as lands, can’t you?), but when you attract some 42.9 million visitors each year you have to keep them entertained:

The Venetian and The PalazzoAt 6,852 rooms, Las Vegas’ MGM Grand is the world’s largest stand-alone hotel, but if you add Sheldon Adelson’s two connected hotels, The Venetian and The Palazzo, together, you get a mind-boggling 7,092 rooms. (Image courtesy: Scott Webb.)

  • Biggest clubs – Las Vegas is now home to seven of the top 10 highest grossing nightclubs, lead by such brands as XS Nightclub and Hakkasan.
  • Top-grossing restaurant – Tao Asian Bistro, the restaurant that funnels dinner guests into The Venetian’s Tao nightclub grosses some $65 million each year, making it America’s largest restaurant by gross revenue.
  • Foodie paradise – When erst-while Bellagio owner Steve Wynn decided to import the likes of New York’s Jean Georges Vongerichten and Boston’s Todd English, he played a material role in turning Las Vegas into a major foodie destination. Today, Las Vegas has more Michelin three-star restaurants than L.A. To put it bluntly, if you are a major chef and don’t have a restaurant in Las Vegas, you’re simply not visible enough. In addition to the afore-mentioned, Las Vegas now has outposts for Joel Robuchon, Alain Ducasse, Guy Savoy, Pierre Gagnaire, Nobu Matsuhisa, Michael Mina, Wolfgang Puck, Giada De Laurentiis… and the list goes on.
  • Cirque de Soleil – In 1998, Steve Wynn spent $80 million on a theater to house his $40-million Cirque de Soleil production of “O.” In one fell swoop, Wynn redefined the rules of consumer entertainment. Las Vegas boasts not one, not two, not three, but seven concurrent Cirque de Soleil productions. Wynn’s $300 million investment in Bellagio art, featuring works by Monet, Picasso, Renoir and Van Gogh, propelled a trend he began with The Mirage that has turned Las Vegas into an adult version of Disneyland.
  • Shopping – If all the above is not enough, be advised that Las Vegas has been a major shopping destination since at least 1998, when a survey by the Las Vegas Convention and Visitors Authority discovered that, for the first time in its history, Las Vegas was perceived by more visitors as an “entertainment” (50%) than a “gaming” destination (48%). Tops on visitor lists were “shopping,” mentioned by 67% of respondents as their primary activity, and fine dining, named by 40%.

And speaking of entertainment, don’t forget Las Vegas’ famous and trendsetting pool parties plus the fact that Nevada recently became the fifth state in the nation to legalize recreational marijuana.

Now, who wouldn’t want to live here?

Share this Post