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Business Leaders Hope More Large Companies Come to Las Vegas | News

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Business Leaders Hope More Large Companies Come to Las Vegas

LAS VEGAS -- A major furniture company that just expanded its operation to Las Vegas could become a magnet to attract other companies to relocate here, bringing new manufacturing jobs with them.

At least that's the hope of the Nevada Business Authority, which played a major role in persuading the Foliot Furniture Company to open up a factory and showroom in Las Vegas.

Las Vegas faced some fierce competition with two other major U.S. cities to become the new home of Foliot, based in Montreal, Aanada. The company says even more than our tax incentives, it was our city's business-friendly environment and the quality of our labor pool that put Las Vegas on top.

"Las vegas has a lot more to offer than it would seem. There are good opportunities here and good workers and the potential to build a successful business," said Lenix Jorge with Foliot.

Foliot has already hired 80 local employees to work the assembly lines of its industrial furniture manufacturing operation. It's expected to hire another 100 people in the coming year. And Foliot just celebrated the grand opening of its furniture showroom on Friday.

The majority of its business is college dormitory furniture. Now the company wants to expand its hospitality market.

It says the Nevada Development Authority rolled out the red carpet in Las Vegas, proving to be a far more business-friendly environment than Phoenix and L.A.

Somer Hollingsworth, the head of the NDA believes attracting a company as prominent as Foliot will now prompt other companies to consider moving to Las Vegas.

"He becomes a magnet for us, and if we can fill 300,000 to 400,000 square feet of manufacturing space and create 250 jobs each time one of these companies comes in, then it behooves us to bring as many of these businesses in as we can," he said.

Foliot alone will have an estimated economic impact of about $66 million in Las Vegas over the next five years. And on top of that, $15 million in tax revenue that will stay in Las Vegas and another $6 million for the state of Nevada.