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News in Nevada

November 14, 2011 “Unify, Regionalize, Diversify: An Economic Development Agenda for Nevada”
October 18, 2011 Nevada selected for NGA policy academy
October 18, 2011 Reno yarn shop on track to post $6 million in revenue this year

Nevada Leads the Nation in Adapting to World Trade Demands

According to the Center for Business and Economic Research at Indiana's Ball State University, Nevada ranks No. 1 in export adaptability.  Ball State's "U.S. Export Adaptability at the State Level," released in May 2011, examined export adaptability of individual states to the changing demands from Organisation for Economic Co-operation and Development (OECD) countries during the period of 1999 to 2001. 

Nevada increased exports in demand-dynamic sectors such as pharmaceuticals, chemicals, machinery, electrical and medical products, while overall U.S. exports declined during the time frame.  Even large volume export states such as Texas and California (ranked 9th and 28th respectively) haven't responded as quickly to global demand.

Also during this period, Nevada saw an almost 400 percent increase in agricultural exports of food and related products to developing countries, like China, that are demanding Western products with high food safety regulations.

Nevada has also seen substantial growth in exporting technology-based products such as:

Lithium for batteries
Ore for electronics
Aviation related components
Primary metals like copper, gold and silver
Electrical machinery
Optical and medical equipment

Nevada's ability to serve emerging markets including Brazil, Russia, India and China is evident in the 800 percent increase in exports collectively to these countries since 2001.  These markets represent areas of significant growth potential as they are becoming some of the world's best customers.  Investing in these key markets will strengthen the state's economy in the long-run.

Charts conveying Nevada's Traditional Market Shift and Exports to Emerging Markets may be accessed here.

To view the export reports for Year to Date.

To view Ball State's report U.S. Export Adaptability at the State Level.
To view the U.S. Chamber of Commerce's report Enterprising States: Recovery and Renewal for the 21st Century

Trade Profiles on Nevada's Top Export Destinations