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Reno Commercial Real Estate In-depth
Reno commercial real estate is a great choice for any business. Reno is known as "The Biggest Little City in the World", is famous for its casinos, and is the birthplace of the gaming corporation.
Tourism is the major industry in the Reno area. The hotel and casino industry attracts more than five million visitors annually and a
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Reno Commercial Real Estate In-depth
Reno commercial real estate is a great choice for any business. Reno is known as "The Biggest Little City in the World", is famous for its casinos, and is the birthplace of the gaming corporation.
Tourism is the major industry in the Reno area. The hotel and casino industry attracts more than five million visitors annually and adds over $4 billion to the local economy each year. The business climate also has a strong presence in manufacturing and logistics in industries such as computers, electronics, financial services, and communications. Reno commercial real estate can provide your company with a diverse environment which supports the thriving local economy and includes a wide range of restaurants and retail options. The nearby mountains draw many tourists to the highest concentration of ski resorts in America, and contribute to the unlimited year-round recreational opportunities.
In an effort to bring even more tourism to the area, Reno holds several events throughout the year, most of which have been extremely successful. They include Hot August Nights (a classic car convention), Street Vibrations (a motorcycle fan gathering and rally), The Great Reno Balloon Race, the Best in the West Nugget Rib Cook-off (held in Sparks), a Cinco de Mayo celebration, bowling tournaments (held in the National Bowling Stadium) and the Reno Air Races.
There are many advantages to relocating or expanding your business with Reno commercial real estate. In Reno, there are no corporate income taxes, personal income taxes, estate, and/or gift taxes, unitary taxes, franchise taxes, inventory taxes and franchise taxes on income. Reno commercial real estate also offers urban growth and revitalization.
Reno is the location of the corporate headquarters for International Game Technology, which manufactures slot machines used throughout the world. Ballys Technology and Gaming and GameTech also have development and manufacturing presence in Reno. Reno commercial real estate has seen a slow rise in demand for Reno commercial real estate for lease and Reno commercial real estate for sale.
Reno provides incentive programs for new companies looking for commercial real estate in Reno and existing companies looking to relocate or expand their company with Reno commercial real estate. Because a majority of tax revenues in Nevada are generated from the tourism and gaming industries, Nevada's tax burden is one of the lightest in the nation. Nevada is one of only seven states without a personal income tax and one of only three without a corporate income tax. New and expanding companies can benefit from several different programs including sales and use tax abatements and deferrals, personal property tax abatements, business tax abatements, and the Train Employees Now program that assists in defraying the cost of training new employees. All programs have conditions and criteria that a company must meet in order to qualify; for example, minimum capital investment, minimum number of jobs created minimum wage requirements and a health plan available to employees and dependants.
Reno commercial real estate also provides your company with an excellent environment. Reno is among America’s Top Three Booming Towns by Fortune Magazine, the top 150 Cities to Combine Fulfilling Job and Quality of Life by Life 2.0 by Forbes, the top Cities for Quality of Life and Business-Friendly by Time Magazine and the Top 10 Best Places to Live by Cities Ranked and Rated.
Reno has been named #1 of the Best Places to do Business in America by Inc. Magazine. Reno was also named the Best Small City in America for Small Business by Dun and Bradstreet and Entrepreneur Magazine, making Reno commercial real estate an excellent choice for expanding or opening your business.
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