Nevada Briefs - September 2003

Nevada Briefs

Bank of America Expands in Nevada

Bank of America plans to open 19 new locations in Southern Nevada from 2003 to 2005, which bank officials said represents an investment of $51.3 million for land, construction, building operations and payroll. The expansion will add an estimated 228 jobs to the bank’s current workforce of 1,750. Bank of America introduced the prototype of a new banking center at a ribbon-cutting ceremony this summer in Las Vegas. The new layout is designed to look and feel more like a retail establishment than a traditional bank, with employees on the sales floor rather than behind desks. The design will soon become standard for all new Bank of America banking centers across the country.

Winery Planned for Minden

In Minden, the Tahoe Ridge Vineyards and Winery has partnered with the historic Van Sickle Station Ranch to plan the first full-production winemaking facility in Nevada. The winery and entertainment complex will be built two miles south of Genoa at the Van Sickle Station Ranch, developed in 1857 and once used as a stop for Pony Express riders. The first phase of the $10 million project, which will start construction next year, will feature a winery and vineyards. Future phases will include a marketplace with tasting room, an historical museum and artisan cultural village, guest cottages and gardens and a culinary school. The ranch’s existing cattle operations and horse stables will be integrated into the overall plan for the property.

Three Companies Expand into Southern Nevada

Texas-based Whole Foods Market, the world’s largest natural and organic foods supermarket chain, recently opened its first Las Vegas outlet at 8855 W. Charleston Blvd. The store features locally grown organic produce, fresh seafood, more than 250 kinds of artisan cheeses and hormone-free poultry and beef, in addition to dietary supplements, environmentally friendly cleaning products and natural pet foods. The first Westin hotel in Nevada, The Westin Casuarina, opens this month on the site of the former Maxim Hotel just off the Las Vegas Strip. The $75 million, 17-story resort includes 825 guest rooms, a 20,000-square-foot casino and 15,000 square feet of indoor meeting space. Fremont Mortgage, a division of California-based Fremont Bank, has opened a new office in Henderson to service the greater Las Vegas area. The Henderson office will serve clients wanting to purchase or refinance homes.

MGM Mirage Receives Diversity Award

MGM Mirage was named one of "America’s 50 Best Companies for Minorities" in Fortune magazine’s July 2003 issue. MGM Mirage, ranked 31 on the national list, reported minorities make up 51.7 percent of its workforce and fill 28 percent of management positions. The magazine cited the company for hiring a director of diversity education and for developing a supervisory training program to prepare minorities for managerial roles. MGM Mirage reported its total construction spending in 2002 was almost $57 million, of which $13 million was spent with accredited women-owned, minority-owned or disadvantaged businesses. Of the $680 million spent on goods or services available for bid, $65 million went to these types of enterprises.

Coast Casinos Plans Another Resort

Coast Casinos has announced plans for a fifth locals casino in Southern Nevada, to be called South Coast, located at a 60-acre site at the south end of the Las Vegas Strip. The $325 million South Coast will include 750 hotel rooms, a 100,000-square-foot casino, bowling, movie theaters, bingo and an equestrian events arena. It will also feature 200,000 square feet of convention and meeting space. Completion is scheduled for spring or summer of 2005. Preliminary plans for a proposed North Coast resort in North Las Vegas are being reviewed by North Las Vegas officials.