Amazon.com Expanding Warehouse Operations to North Las Vegas; Boost Expected for Local Economy- Shelter Realty Inc.

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Amazon.com Expanding Warehouse Operations to North Las Vegas; Boost Expected for Local Economy

By Christopher Boyle April 5, 2017

LAS VEGAS, NV – As if Las Vegas’ economy – and as a by-product, it’s real estate market – wasn’t beefing up its already impressive profile, Amazon.com, the nation’s largest online retailer, is currently in the process of constructing a massive warehouse in North Las Vegas to be used as a regional fulfillment center for the countless orders placed via their website on a daily basis.

Amazon’s warehouse, one of over 75 Amazon currently has across the country, will ring in at an impressive 800,000 square feet, and is being erected near Lamb Boulevard and Tropical Parkway. The facility is expected to open its doors for business in summer 2017, and with the opening of said doors will come a immediate boon to the local economy in the form of 1,000 new jobs, many of which will man the warehouse stocking items and packing orders that are destined for numerous locations throughout the Southwest.

As an enticement for Amazon to set up shop in North Las Vegas, Nevada Governor Brian Sandoval has offered up $1.8 million in tax savings in the form of tax abatement’s for the online retailer. According to Amazon’s latest annual report to the Securities and Exchange Commission, the company saw net income of $2.37 billion for the year ended Dec. 31, 2016.

Governor Sandoval noted in a statement that Nevada has been attracting numerous big-name companies to its corporate landscape; in addition to Amazon, The Honest Company, CML Media Corp Sutherland Global Services, TH Foods and Zazzle are expected to set up shop in the area, not to mention the impending re-location of the Oakland Raiders NFL team to Las Vegas within the next 1-2 years. With this injection of fresh blood into the region, Sandoval said, is serving to turn Nevada in general and Las Vegas in particular into a destination not only for tourism, but business as well.

“That’s what provides the jobs…a variety of companies will spur growth in Nevada, including Amazon.com, the largest internet-based retailer in the world,” he said. “North Las Vegas is transforming…Nevada’s business-friendly atmosphere is not only helping existing Nevada companies expand, but also bringing industry-leading companies to our state.”

Following the national recession, the North Las Vegas area has seen an increase in warehouse construction, which in turn has been providing a great many new jobs for local residents; with the steadily improving employment situation in the area – not to mention an influx of out-of-state transplants looking for a better job market – the Las Vegas real estate outlook has improved at an equally steady rate. After all, when jobs are available, money is flowing, and new people are settling in an area, adequate places to live are a necessity; with the housing options in Las Vegas already raising regularly in value due to growing demand outstripping supply, new economic factors resulting in an even greater need for enough houses and apartments is going to cause already swelling prices in the real estate market to spike even further.