LAS VEGAS (KTNV) — Another municipality in southern Nevada is poised to put hundreds of thousands of dollars towards encouraging entrepreneurs to establish or expand businesses while they're in town for the Super Bowl.
On Wednesday, August 16, Las Vegas City Council voted to allocate $290,000 for the Super Bowl Corporate Combine, a 3-day event where companies can learn about the advantages of doing business in Southern Nevada.
In total, $2.25 million is being raised for the effort, with the money being requested from both public and private sources. $1 million of that money has been requested from local governments. The rest is expected to come from private entities.
Las Vegas city officials said it may be a while before we see the tangible output from this initiative, but they've been talking with Phoenix leaders, who did something similar when they hosted the Super Bowl in 2015 and saw a return on their investment.
"It was reported that Phoenix, when they hosted this event in 2015, invited 60 companies to participate in the events in and around the Super Bowl, of which 20 of those expanded in Phoenix, creating 18,000 jobs. So that's a tangible output Phoenix was able to achieve from their 2015 success," said Ryan Smith, the City of Las Vegas' Director of Economic and Urban Development.
Officials emphasized that the money they're putting towards this has been specifically set aside for economic development and none of it will go to any actual gameday events.
Councilwoman Victoria Seaman was the only "no" vote on the council, saying other organizations, like local chambers of commerce, might be better suited to contribute money to this.
The contribution requested from each municipality for the Super Bowl Corporate Combine is based on population size. Clark County commissioners voted on Tuesday, Aug. 15 to earmark $440,000 for its contribution. Officials say North Las Vegas leaders agreed in July to earmark $120,000. Las Vegas city officials say the City of Henderson has also been asked to put money in but hasn't taken action on the request yet.
Channel 13 is working to learn how much has been requested in Henderson, and when the proposal might go before the city council there for approval.
