50 in 50: Nevada

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

Key Economic Indicators

GDP: $155.5 billion

GDP 5-year compounded annual growth rate (CAGR) (2017-2021): 1.6% (U.S: 1.6%)

GDP per capita: $50,798 (U.S.: $58,154)

Population: 3.1 million

Population 5-year CAGR (2017-2021): 1.4% (U.S.: 0.5%)

Unemployment: 5.0% (U.S.: 3.9%)

Economic health ranking: #13 out of 50

Fiscal health ranking: #21 out of 50

Overall tax climate ranking: #7 out of 50

Key Sectors and Metro Areas

Top five industry sectors by 2021 GDP:

GDP ($ billions)
% of total GDP
Real estate and rental and leasing
Accommodation and food services
Retail trade
State and local
Health care and social assistance

Top three industry sectors by GDP 5-year CAGR (2017-2021):

GDP 5-year CAGR
Management of companies and enterprises

Top three metro areas by GDP:

  • Las Vegas-Henderson-Paradise
  • Reno
  • Carson City

Top three areas by population 5-year CAGR (2016-2020):

  • Las Vegas-Henderson-Paradise
  • Reno
  • Carson City

Infrastructure Highlights

Infrastructure: ASCE Infrastructure Grade (2018): C

In Nevada, according to the ASCE, the infrastructure for dams, drinking water, and schools is considered mediocre or poor. Approximately $400 million in funds from the Infrastructure Investment and Jobs Act (IIJA) destined for water and wastewater infrastructure, will go into a state revolving loan fund for local governments. Additionally, Nevada is likely to benefit from the $8.3 billion provision for Western water infrastructure and drought resilience, as the state is projected to face more issues with high temperatures, droughts, and changes to snowpack. Since the last ASCE report card, despite having roads and bridges in relatively good condition, population growth has caused commute times to increase significantly. Over the next five years, Nevada will receive at least $4 billion from the IIJA, divided into the following categories of projects (additional funds may be deployed as federal grants get awarded to states):

Improvement Area
$2.5 billion
Roads and highways
$459 million
Public transportation
$403 million
Water infrastructure
$293 million
$225 million
Bridges replacement and repair
$100 million
Broadband (minimum allocation)
$38 million
Electric vehicle (EV) charging network
$12 million
Cyberattacks protection
$9 million
Wildfires protection

Construction spending (Value of Construction Put in Place – CPiP):

  • Private Nonresidential 2020 CPiP: $5.1 billion; -5.7% 5-year CAGR (2016-2020), below overall U.S. CAGR of 2.0%
  • State & Local 2020 CPiP: $3.5 billion; 7.5% 5-year CAGR (2016-2020), above overall U.S. CAGR of 4.8%

AE Industry

ENR 500 firm headquarters (2022): None

M&A activity since 2018:

  • 4 deals with buyers from Nevada
  • 20 deals with sellers from Nevada 

For customized market research, contact Rafael Barbosa at [email protected] or 972.266.4955. Connect with him on LinkedIn.

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