Henderson remains a welcoming business environment committed to the continued growth of our established businesses and attracting new opportunities. As economic growth continues, our goals do not solely rely on fiscal sustainability but also adaptability in the face of future economic, political, technological, or demographic changes. Commitment to the principal goal of economic competitiveness requires an emphasis on economic diversity, foresight, workforce development, and recruitment, as well as the continuance of expected high levels of service to citizens.
Maintaining the financial resilience of the city... none of this will work unless that happens.- Councilman Dan Shaw (Strategic Plan, 2019)
CITIZEN PRIORITY RATING Importance of economic vitality in Henderson = 96%
This visualization presents the Financial Stabilization Fund balance as a percentage of Actual Revenue. The city strives to maintain 8.3% of budgeted revenue in a “rainy day” financial stabilization fund, as defined per Nevada Revised Statute (NRS). This reserve fund allows the city to lessen the impact of economic uncertainties.
Economic Development and Redevelopment Agency response to requests for assistance from Henderson businesses increased dramatically with the onset of the COVID-19 pandemic. Examples of business assistance include sharing relocation or expansion opportunities, explaining regulations or policy, and providing assistance with securing additional County, State, or Federal resources.
PRIORITY UPDATE HIGHLIGHTS
- Maintained the city’s excellent AA+ bond rating through the COVID-19 pandemic. Standard & Poor’s analysts, in their latest Global Ratings report, say they “believe the city’s very strong reserve and liquidity positions provide a substantial cushion to absorb the near-term projected revenue declines. The city has benefitted from its growing local tax base and correlated operating revenues in the last several years, allowing the city to build up its accumulated general fund and financial stabilization reserves.”
- The city continues to diversify Henderson’s economy by attracting new businesses, including Haas Automation, a Google data center, and the Henderson Silver Knights in the fiscal year 2020.
- Over $75 million of Opportunity Zone funding secured by the city for the Water Street District is now being invested in multiple new construction projects in the area, including commercial, mixed-use, residential developments.