Reno’s population is exploding. Why? And why is this good for businesses thinking about relocating to Reno, or opening up a new branch in the Reno area?
Well it’s easy to understand once you consider these 3 things.
Nevada doesn’t have individual income tax, which is huge. Taxes are going up all over the nation. The few states that don’t have individual income tax are generally seeing a boost to their economies as more people and businesses move to these areas. Reno is benefiting from this overall trend. The overall sales tax in Nevada is 6.85%, which isn’t low, but it’s in-line with most of the other states in the US.
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- Cost of Living
Reno is benefiting tremendously from this huge trend right now. Housing and fuel and other consumables are reasonably priced in Reno. Compared to the Bay Area in California, which is only a three or four hour drive away, Reno is cheap, cheap, cheap! Just go to Zillow.com and do some searches for a house in Marin or Napa counties, then perform a search for a comparable house in Reno and you will see a massive difference in price.
- Business is Booming
Because of the two reasons already mentioned, people and money are pouring into Reno, NV. This creates lots of opportunities and naturally attracts lots of new business. The downtown area is thriving with new small businesses and co-working spaces that are creating an energy that is breathing new life into this old dusty town.
These small to medium sized businesses are assisted by organizations that nurture the entrepreneurial spirit like, Entrepreneurs Assemble, 1 Million Cups Reno, the Nevada Small Business Development , and many more. Some of the exciting new businesses that are calling Reno home are Bombora, Click Bio, CAEK, and Determined Solutions SEO And of course there is a small little company called Tesla that just opened a facility near Reno as well.
These trends are only going to continue in the following years. Residents and businesses alike will reap great benefits as Reno transforms from an old dusty town into a thriving and economically diverse city of the future.
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