In The News: Lee Business School
FOR a picture of America’s pre-crisis economy, pay a visit to the south-east corner of Las Vegas. Where the valley begins to rise into the high desert, a Chinese developer has carved the top off a mountain. A wide, empty, road rises into what looks like the remnants of an Inca city. The project, named “Ascaya”, was once America’s biggest excavation site. The idea was to sell the plots to Las Vegas’s elite, whose mansions would enjoy a view over the desert in one direction and the bacchanalia of the Strip ten miles away in the other.
Economic growth in Nevada is accelerating faster than the U.S., economic analysts at the University of Nevada, Las Vegas Center for Business and Economic Research, said Thursday, but housing remains tight and the state trails woefully in advanced industry.