Tourists pose in front of the iconic Welcome to Fabulous Las Vegas sign in this file photo.
Wednesday, March 20, 2024 | noon
Legislation introduced today in the U.S. Senate could advance economic development and the travel, tourism and outdoor recreation industries in Nevada, the office of Sen. Catherine Cortez Masto, D-Nev., said.
The proposal — Increasing Our Nation’s Value Through Economic Support and Tourism (INVEST) in Our Communities Act — would widen access to federal funding from the Economic Development Administration (EDA), from which Cortez Masto previously secured over $19 million to help rejuvenate tourism and hospitality after the COVID-19 pandemic, her office said. She introduced the legislation with Sen. Mark Kelly, D-Ariz.
“Economic development, especially from tourism and outdoor recreation sectors, is essential across Nevada,” Cortez Masto said in a statement. “This commonsense bill will expand economic development resources and make them more accessible for Nevada’s tribes, regional development agencies, and the tourism and outdoor recreation sectors — that’s good for our economy, our workers, and everyone who wants to experience all Nevada has to offer.”
The bill would establish an annual Hospitality and Outdoor-Recreation Supporting Tourism (HOST) Grant, to aid the recovery, development and expansion of the tourism economy, increase the federal cost share for EDA funding to local communities and regional agencies by 10%, and authorize funding for specific costs, such as hiring.
It would also give greater consideration to the funding of projects that seek to improve tourism and outdoor recreation.
“Tourism, for all economies at some level, is an important aspect to economic development and diversification,” said Tina Quigley, president and CEO of the Las Vegas Global Economic Alliance. “It brings a lot of new money into our economy, so continuing to make sure that it is as healthy as possible and so that we avoid some of the very significant boom-bust cycles that we can go through — I love it.”
She also appreciates the focus the new bill gives to outdoor tourism, especially as Nevada has so much to offer in that regard, Quigley said, pointing to Boulder City, the Red Rock Canyon National Conservation Area and more as examples.
Las Vegas is constantly trying to attract new people and companies to the region, she said, and a big part of that is helping them understand the variety of quality-of-life options it has to offer beyond the Strip — including outdoor recreation.
“And so the more that the EDA considers outdoor pursuits as part of tourism, the more ability we have to really grow and highlight those assets — and, again, diversify the economy,” she said.
The act would establish an Office of Tribal Economic Development to support tribal communities, and create an agreement between the EDA and the U.S. Department of Agriculture to support economic development in rural areas, as well.
It would help communities receive consideration for economic development funding from the EDA when tax revenues fall short, establish other beneficial programs and ultimately support local communities and grow their tourism and outdoor recreation economy, according to the release.
Companion legislation to the bill has also been introduced in the U.S. House of Representatives by Reps. Dina Titus, D-Nev., and Rudy Yakym, R-Ind., the release said.
The INVEST in Our Communities Act exemplifies that Cortez Masto understands the relationship between economic development and prosperity for the community, Quigley said.
“We’ve been very lucky, historically, that fish have just jumped in our boat as it relates to economic growth and hospitality,” she said. “Gaming, of course, has been our primary spigot of new money into our economy, and that’s great except for when, like all different industries, it goes through boom and bust cycles. And it’s really important that we’ve got some type of buffer for when we’re going through a bust cycle.”
