The rise of Reno is particularly noteworthy because it's an indication that non-traditional tech and employment centers are rising into prominent places in the U.S. economy, said Kevin Klowden, executive director of the Milken Institute Center for Regional Economics.
He noted that the fast-growing technology sector in Reno ranges from Tesla's Gigafactory to a cluster of data centers to a thriving logistics and drone sector.
Those new jobs are diversifying the region's economy beyond its traditional reliance on distribution and tourism.
The Milken Institute is an independent economic think tank based in Santa Monica, California. It publishes research and hosts conferences that apply market-based principles and financial innovations to social issues in the US and internationally. The Institute is a nonprofit organization and presents itself as nonpartisan and non-ideological.
Per Milken Institute - RENO ASSETS:
▪ Strong job growth fuels the region's economic growth.
▪ A diverse industrial mix sets the foundation for a healthier regional economy.
This recent job growth is illustrative of the region's changing economic landscape. Notably, Tesla's Gigafactory 1 arrived in Reno and is the largest factory in the world.
Reno is also a transportation and logistics sub-center with a thriving logistics and drone sector, including an Amazon fulfillment center, the first commercial drone delivery company in the US (Flirtey), and National Aeronautics and Space Administration (NASA) and the University of Nevada Reno's NUANCE Lab, which collaborate on drone traffic management.
The area is also an emerging data center hub. Apple, for instance, has a data center in Reno with plans for expansion in the Reno- Sparks region. Another tech giant, Google, is building a 1,210-acre data center.
In addition, Switch's Tahoe Reno 1 in the Citadel Campus is the world's largest data center campus. Affordable renewable energy in the region is recognized as one of the major reasons behind Apple and Google's site selection for data centers in the area.