EDAWN: ‘Dramatic increase’ in startups relocating to Reno-Sparks
The coronavirus pandemic crashed the economy and slashed jobs, but it also inspired many people across the U.S. to create their own businesses, and a growing number of those entrepreneurs are moving to Northern Nevada.
Over the past two years, nearly 100 new startups have set up shop in greater Reno-Sparks, according to the Economic Development Authority of Western Nevada. Doug Erwin, who oversees entrepreneurial development, says the remote work boom has played a major role.
“Well, I think COVID really accelerated remote work by probably a decade, and what really makes this place a great place for entrepreneurship is it’s a great place to live,” Erwin says. “So you’re seeing a mass migration. People are moving places they want to live.”
According to EDAWN, new startups have created more than 400 jobs in the region amid the pandemic. They have also raised nearly $200 million in venture capital. Those are numbers Erwin expects to grow quickly.
“We have definitely seen a dramatic increase in the number of companies, the number of quality companies, the amount of money that’s come into the community, all of that has really been on the rise in the last 12 months or so,” Erwin says.
Looking forward, Erwin says he expects Northern Nevada to see an increase in startups focused on technology sectors, including battery tech, finance tech and blockchain.
The photo included in this story is licensed under Flickr Creative Commons.