Apex Industrial Park seen as ‘innovation hub,’ report says
Apex Industrial Park is poised to become an “innovation hub” made up of technology and manufacturing companies anchored by Faraday Future and Hyperloop One, according to a report set for release Wednesday.
At full build out, Apex has the capacity to create about 20,000 jobs, according to the Urban Land Institute of Nevada report, “A Way Forward for Apex.”
To succeed, the report said that the 18,000-acre swath of land in North Las Vegas needs access to utilities and technical training for local residents to create a skilled workforce.
“The goal is to transition Apex from an industrial park to an innovation hub, where we can test, develop and manufacture mobility systems,” said Jonas Peterson, president and CEO of the Las Vegas Global Economic Alliance.
“It’s part of our regional strategy to diversify and strengthen the overall economy while also growing the tourism, casino and hospitality businesses,” Peterson said. “Apex is part of the strategy to meet that demand, and the potential has risen dramatically.”
PLANS TO RECRUIT COMPANIES
The Urban Land Institute completed the analysis at the request of the LVGEA and North Las Vegas city officials, who are looking to recruit companies that could support the operations of Faraday Future and Hyperloop One.
Faraday Future started — and abruptly suspended — construction late last year on a $1 billion manufacturing plant for electric cars. The state Legislature approved a $215 million tax incentive package for the company, which has since suffered several financial setbacks.
Faraday executives unveiled a concept car in January during the Consumer Electronics Show held in Las Vegas, with the promise to resume construction in early 2017. As of Tuesday, work had not started.
Hyperloop One has fared better at Apex, receiving $10 million in state tax incentives to build an open-air track for testing a system that promises to transport passengers and cargo through metal tubes at speeds of more than 700 mph. The company successfully completed one test in 2016, with plans for another test sometime later this year.
Apex still has a long way to go, generating few jobs outside of construction. And, most of the industrial park doesn’t have direct access to utilities.
DEVELOPING INFRASTURE
To fix that, North Las Vegas city officials are developing a $185 million infrastructure project that would connect Apex to the city’s water and sewer lines by March 2018.
The Urban Land Institute’s study also recommended that companies work with the local high schools and community colleges in developing specialized training programs that would prepare students for technical jobs. Additionally, the report suggested that the landowners who own various chunks within Apex should create a “steering committee” to develop plans for infrastructure, marketing and financing projects.
“Apex is poised to become a platform for innovation and the impetus for large-scale economic change in our region,” North Las Vegas Mayor John Lee said. “Moving forward, we will continue working with our partners to encourage a unified vision for future development at Apex and to ensure that our city continues to provide the skilled workforce that the many companies moving here will need.”
Contact Art Marroquin at amarroquin@reviewjournal.com or 702-383-0336. Find @AMarroquin_LV on Twitter.
