In this Oct. 13, 2018, photo, a sign marks the entrance to the Tesla Gigafactory in Sparks, Nev. A population inrush to Nevada has been driven by people seeking more affordable housing and a growing tech industry around Reno.
(The Center Square) – With more workers shifting to telecommuting and working from home during the coronavirus pandemic, technology companies are taking advantage.
Trustifi, a small email security firm, is welcoming more business as companies find the connection between workers’ home wi-fi and their own networks creates a security issue. Larger software support firms, like Rimini Street, are seeing growth in business as more companies rely on their services to help keep daily operations going.
As Nevada’s economy stalled with the loss of tourism and gaming revenue when casinos and other businesses were shut down, technology sector businesses could help breathe new life into the state.
“Such an industry would go a long way toward broadening Nevada’s economic landscape, which would not only create more opportunity for workers but would strengthen our economy during times of economic downturn,” Michael Schaus, communications director at Nevada Policy Research Institute, told The Center Square.
As Trustifi and Rimini Street have found, Nevada has a business-friendly environment, according to VegasInc.
“Nevada seems like a natural place for entrepreneurs and tech companies to relocate if they are looking to flee Silicon Valley,” Schaus said. “From a regulatory and tax perspective, Nevada is a far more attractive environment than California– especially for the tech industry, which thrives when regulatory structures encourage entrepreneurship, innovation and growth.”
Hospitality is a resilient industry and history has shown that as soon as people feel safe to travel again, the dollars will begin to flow back in. Investment in the tech industry offers Nevada an opportunity, opening to the possibilities of a revenue source that only grows as society becomes more dependent on convenience and technological advancement.
“The more encouraging we can make the business environment in this state, the more we will begin welcoming new industries, growing industries and a more diverse range of businesses and workers,” Schaus said. “The goal, from a policy perspective, shouldn’t be to ‘dethrone’ hospitality and mining as the state’s most robust economic sectors – it should be to advance the freedom necessary for other industries to join them on that list.”