Las Vegas has a well-earned reputation as a party town, but it’s not just a few sparkly casinos and a fabulous welcome sign. Sin City (or, if you prefer, The Entertainment Capital of the World) is fast becoming a place for companies of all shapes and sizes to put down roots, especially in coworking environments.
Gaming and hospitality are still the primary engines of the economy, but according to the Bureau of Labor Statistics, office and admin work employs 15.2 percent of people in Las Vegas—second only to food service. Runners-up include sales, accounting for 10 percent of employment, and healthcare, which claims 6.2 percent of jobs. Since 2013, Zappos has called Vegas home, and Planet 13 Holdings recently opened the world’s largest cannabis dispensary right in the heart of town.
There really is something for everyone in Las Vegas. If you’re considering a move, or looking into coworking in Las Vegas, here are a few key things you should know.
Conventions and tourism bring millions to Las Vegas every year
For a place in the middle of the desert, Las Vegas attracts an incredible amount of people. It’s a top tourist destination for folks around the world, and it also draws huge crowds as a major convention destination for global businesses.
Almost 3 million people call Nevada home, but 41 million people visit Las Vegas every year. From Microsoft to the American Poolplayers Association to the International Baking Industry, people from a range of sectors descend upon Las Vegas annually.
Coworking is transforming how we view the city
Not only are people visiting the great state of Nevada, they’re staying here to work. The Las Vegas Sun recently noted the rise in coworking spaces, while the Las Vegas Review-Journal quoted Dan Palmeri, a senior director at Las Vegas real estate company Cushman & Wakefield, explaining the trend:
“I think [coworking] is a sign that shows that our city is being looked at in a different perspective from people who don’t live here,” Palmeri said. “It’s more of an up-and-coming American city that’s really going to transform into a place where more people want to do business.”
Business hubs and coworking spots in Las Vegas are located out west in Summerlin, or at the center of the action, right near The Strip.
Emerging industries are creating new opportunities
Business is truly booming: The Las Vegas community dashboard, a collection of stats about working and living in Las Vegas, reports that of nearly 20,000 businesses in town, 68 percent were formed in the last 12 months.
Growth is reported in every sector, from finance to information services. Nevada is one of just a few states in the U.S. where marijuana is legal, and increased attention to climate change makes sunny Las Vegas a prime location for solar energy companies. Long a sore spot for Nevada, the health industry in this state is working hard to reinvent itself, with incentives for healthcare startups and a strong community of people working to improve healthcare for everyone.
There are no taxes for companies and individuals
The sun shines here, but so does Uncle Sam. The tax rate for corporate income (the highest bracket) is 8.84 percent in Los Angeles and San Francisco. In Portland, Oregon, it’s 7.6 percent. In Las Vegas? It’s zero.
The same goes for individual income: At the highest rate, L.A. and S.F. take 13.3 percent of your paycheck. In Las Vegas, you keep every last penny. Rates are also low for property tax (0.75 percent) and sales tax (6.85 percent).
Employees love the low cost of living and high quality of life
It just costs less to live in Las Vegas: The Cost of Living Index, which considers different categories like housing, utilities, groceries, and transportation, places Las Vegas at 104. (The national average is 100.) Los Angeles pulls in at 148.2, and San Francisco at 196.3. From avocados to electricity, rent to bus fares, living and working in Las Vegas saves you money.
Then, there is the sunshine. With an average annual temp of 69 degrees and 294 sunny days every year, this place really is paradise. If you like hiking, biking, camping, or climbing, you’ll love the massive mountains surrounding the valley—they’re wonderful in almost any weather.
Life in the city is great, too: Increases in walkability, bikeability, and lots of new native-plant landscaping in Summerlin have all improved the quality of life in this bustling neighborhood.
All this, from low costs of living to high quality of life, makes it easy to hire and retain employees in Las Vegas.
Coworking spaces in Las Vegas
Las Vegas is a city of opportunity for a wide variety of industries, and coworking spaces can provide an inspired atmosphere to jumpstart any entrepreneur. With one space in Summerlin and another right on the Las Vegas Strip, WeWork is in the two hottest (and most convenient) Vegas locations for burgeoning businesses.
Set up shop in the heart of it all
Opening soon, WeWork Town Square is right next to all the glitz and glamour of the Las Vegas Strip. Breezy, modern lounges and high-tech conference rooms accommodate teams of all sizes. Have a client flying in from out of town? This location is extremely close to McCarran International Airport. After work, you’re just a step away from prime hotels, restaurants, and happy-hour hot spots, or a quick round of people-watching at Town Square.
Cowork in a serene community
Folks working in sports, solar energy, health, tourism, and more fill two floors of the six-story WeWork Two Summerlin, located in the downtown area of Las Vegas’s affluent Summerlin neighborhood. The space has everything you love about WeWork: light-filled lounges, collaborative conference rooms, and sleek private offices. Easy access to the beltway and onsite parking take the headache out of commuting and, if you’re visiting, transportation at the Pavilion Center is just down the road.
Whether you’re working for yourself or growing a team, coworking spaces in Las Vegas provide a no-stress way to focus on the work that matters. Enjoy built-in community at WeWork, and make the strong professional connections you need to move forward.