Las Vegas Sun NewsLas Vegas ranked in top 50 of fastest-growing metropolitan areas
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An aerial view of a neighborhood in the southwest part of the Las Vegas Valley taken from a helicopter May 21, 2012.
Tuesday
27 November 2012
4:45 p.m.
Las Vegas is expected to be among the 50 fastest-growing metropolitan areas over the next five years, according to a computer projection released today by Pitney Bowes Software.
The city ranks 48th in percentage of anticipated growth and 23rd in the expected number of new households in Pitney Bowes’ first Metro Magnet Index report.
The model, which examined trends in 384 U.S. metropolitan areas, forecasts slow, steady 1 percent annual growth for Las Vegas over the next five years, adding 33,500 households by 2017.
The growth forecast for Las Vegas is comparable to Phoenix, which was one of the fastest-growing cities in the first decade of the 21st century. In terms of number of real households, Las Vegas is on par with projections for the Chicago and Nashville metropolitan areas.
Pitney Bowes created the model as a way of helping businesses map future expansion plans.
“Projected household growth is a critical indicator for the economic prospects of a specific geographic area, and this data can help real estate, retail and a range of other businesses, plan their growth strategy scientifically,” John O’Hara, president of Pitney Bowes, said in a statement.
Houston, with a projected 141,000 additional households, is expected to experience the most growth, followed by Atlanta (106,000) and Washington, D.C., (84,000). The Provo, Utah, and Austin, Texas, areas are expected to have the highest percentage of growth, with the number of households jumping by 7.5 percent.
Nationwide, more people are moving to cities, the Pitney Bowes model shows, with household growth expected in 98 percent of metropolitan areas. Of cities with 100,000 or more households, only Detroit and Charleston, W. Va., are projected to experience declines over the next five years.
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So 48th out of 50 is still Growth but really barely. There should not be any New Residential Growth that expands the footprint of the city approved. This time should give planners time to finally create plans to build a walkable Downtown, A Pedestrian Friendly Strip, Sign Ordinances, Mass Transit, Pedestrian Crossings integrated with Bus Routes. Bicycle Pathways, Residential Road designs to slow cars down and protect children in neighborhoods. And hire National design expects if the talent does not exist locally , which I suspect.
newnvres,
This would require brains in our local electorate.
Vegas will need to work through one of the highest unemployment rates in the nation to go with one of the largest inventories of bank owned foreclosures in the country. need to broaden economic base from gaming. 23 states have legalized gambling now one doesn't have to come to Vegas just to play cards or slots anymore ; with 8 months of nice weather and no state income tax Vegas should be attractive. need a business plan credit bubble that created housing boom is gone and not returning this lifetime.