Home of Tesla’s future Gigafactory and the Chinese-backed electric car company Faraday Future, Nevada is very proud to be the showcase of a new breed of companies that represent the future of technology.
“We want to impart this message of a ‘New Nevada.’ Our brand resonates in the hospitality industry, gaming and convention trade around the world. This includes our focus on our new industries because we want a second look,” said Kris Sanchez, the Director of International Trade of the Nevada Governor’s Office of Economic Development.
In line with his vision to diversify the state’s economy, Nevada Governor Brian Sandoval is aggressively pursuing foreign investment in healthcare, high-tech robotics, sustainable energy and self-driving vehicles, according to Sanchez.
Since first taking office in 2010, the governor has presided over one of the country’s fastest growing employment rates, generating more than 240,000 jobs in the state in the last five years. Its world famous gaming and hospitality industry attracts around 45 million visitors every year.
Sanchez believes there are a lot of opportunities from Asia, especially Japan, such as Panasonic and Konami, which have tapped local talent for their operations.
“When I look at Japan, I see a country that’s innovative. It’s doing amazing things in robotics. I see companies coming here and observing the technology that’s being developed. Japan is looking towards the future,” said Sanchez.
Shusuke Ogihara, a Japanese-American and CEO of Japan Nevada Conference, is inviting Japanese businesses to Nevada.
“I’ve spoken about the beauty of Nevada and its environment for doing business with Japan. Leaders should be more vocal and advocate doing business here and bring enterprises to Japan. I want the Japanese model to transform in setting up startups abroad,” he said.
Ogihara pointed out that foreign businesses could look to gaming, tourism and hospitality as key areas for investment. He also wants to see more Japanese tourists in Nevada, where the Chinese and Koreans lead visitors from Asia in recent years.
Meanwhile, lawyer Richard Galin of Kolesar & Leatham is prepared to address investor interest, particularly from Japan. Galin, who worked in Tokyo for six years, was put in charge of the law firm’s Japan Desk because of that past experience.
“I think there is infinitely more to this state than meets the eye. We’re uniquely positioned, as a true Nevada firm, which guides clients to where opportunities are not self-apparent,” Galin said.
There are around 90 Japanese affiliate companies in Nevada as of 2015 and, according to Galin, prospective investors are attracted by the state’s attractive tax climate.