Tag Archives: Nevada Development Authority

Nevada Tells California: “Kiss Your Assets Goodbye”

The Nevada Development Authority is on their annual search and destroy hunt, or so it seems, to lure recession-strapped California businesses to Nevada, away from having to settle for IOUs from the government as paycheck substitutes. 

Nevada is now waging a vicious $300,000 advertising blitz, themed “Kiss Your Assets Goodbye,” complete with flying pigs and chimps, that pits Nevada’s lack of personal and corporate income tax and its lower workers’ compensation insurance rates against California’s hearty tax structure and extensive regulatory regime. 

On top of the chimp spots, there’s a print ad claiming California will be more pro-business when pigs fly, as well as a radio spot with an actor portraying a businessman getting the shaft, as the announcer says:  “We’re all learning to bend over and kiss our assets goodbye.” 

Not relying on ads alone to shill new business, there’s also a public relations campaign deploying social-networking Web sites, including Facebook, Twitter, Linked-In- and even an original pop song that will air on YouTube.com later this week. 

Some, though, are going fighting bonkers over the stomach-churning campaign, refusing to run the ads. KABC, the ABC affiliate in Los Angeles, California has refused to air the ads, saying they don’t want to encourage businesses to leave California. 

The campaign will run for 90 days, after which the authority will develop and launch a new campaign.  They have $700,000 more in the Nevada budget to spend on advertising in the next 10 months.

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Las Vegas Takes One Step Closer to Hollywood, Planning Video Manufacturing Plant

Before you get the impression that Las Vegas businesses are closing down and moving out enmasse because of our sour economy, please reconsider.  Apparently, some businesses considering a move to Las Vegas are not giving up JimJannard2on the desert ship just yet.  Case in point is Red Digital Cinema, the manufacturer of the highly touted, leading cutting edge technology red camera, whose high-tech movie production equipment has been used to shoot “Angels and Demons” and many other movies.

Red Digital founder and CEO Jim Jannard has been talking to the Clark County Commission and apparently they are all ears about his plan to manufacture his cameras at an 80-acre site in the far southwest valley of Las Vegas, and to build aJimJannard sound studio there as well, along with homes for himself and others like him who work in the movie industry.   In fact, the commission has already recently voted approval of some zoning changes for the project, clearing the initial building hurdle. 

The Nevada Development Authority, which works to attract businesses to Southern Nevada, helped Jannard to find the 80 acres and is assisting Red Digital Cinema in completing the paperwork required by local governments. 

A member of Red Digital Cinema’s board of directors told the commission a week ago that the business complex, when completed, will employ from 1,000 to 2,000 people. 

Those words are more than mere hope and boastful bravado.  Jannard  has a long history of success.  In 1975 he found Oakley Inc., the company famous for its sunglasses and eyewear.  Forbes magazine last year estimated Jannard has about $3 billon in assets.

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