One of the workshops at Hyperloop One visitors are invited to view during a Hyperloop One sled test at their facility in North Las Vegas on Wednesday, May 11, 2016.
Thursday, Aug. 4, 2016 | 2 a.m.
Employment in Las Vegas’ advanced industry sectors grew at an average annual rate of about 3 percent in recent years and saw particularly large growth in internet publishing and software, according to a national report released by the Brookings Institution Thursday morning.
Bringing such high-paying jobs — the average salary for advanced industries are $82,000 — to the state has been a key part of Gov. Brian Sandoval’s economic development plan. The region has had some success spurring growth in its technology sector and is home to several ongoing projects. Electric carmaker Faraday Future is working on a 3 million-square-foot manufacturing plant in North Las Vegas and Hyperloop One is building a one-mile test track near the same site.
Jobs in Las Vegas’ advanced industries grew at an average annual rate of 3.4 percent between 2013 and 2015. The report found that the largest advanced industries, which range from engineering to pharmaceuticals, account for about 3.5 percent of the region’s employment, or about 32,967 jobs.
The study looked at several advanced industries that were defined by their large investments in research and development and the share of workers in the industry who had highly technical degrees. It said the 50 industries “encompass the nation’s ‘tech’ sector at its broadest and most consequential.”
Four industries with the highest growth rates in Las Vegas revolved around the digital sector. The highest annual average employment growth was in the data industry. It was about 20 percent over the past two years, according to the report. That industry was followed by growth in internet publishing, mineral products and software products. According to the Brookings report, most of Las Vegas’ advanced jobs were in services, such as providing data processing and hosting.
While jobs in advanced industries are on the upswing, the report found that the average annual output — Las Vegas gross product — between 2013 and 2015 decreased compared to two years prior. It fell from an annual average rate of 1.4 percent from 2010-2013 to an average annual rate of 0.6 percent, with sharp rate declines in pharmaceuticals, foundries and electrical equipment.
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