Vice President of Operations
The local economy remains a talking point as the industry monitors national and international happenings impacting the market, says Kinnison.
“A few projects have been put on hold due to financing issues related to interest rates while the industry remains on a ‘wait and see’ pattern due to rising costs of construction materials,” he says.
Meanwhile, employment and recruitment remain hot button topics as the unemployment rate is still at an all-time low. “June 2022 marked 3.3%. An increase from 2.9% in May, but still down from 4.7% from June 2022,” Kinnison says.
“A few pieces of legislation that Northern Nevadans are watching closely include the National Defense Authorization Act, which proposes to convert 538,000 acres of public land to partial or complete military control,” Kinnison says. “With most of the land in Nevada owned by the U.S. government, contractor and developer groups have banded together to support a lands bill [to open up land for development]. It is in the process of gaining support for introduction to Congress. Supporters hope for introduction this year or possibly early 2023.”