Awards honor Nevada business diversification

Chris Jones

Wednesday, May 22, 2002 | 11:11 a.m.

Nevada political and business leaders have for years stressed the importance of reducing the state's economic dependence on gaming and tourism.

On Tuesday Gov. Kenny Guinn repeated that call when he said the potential for additional terrorist attacks, labor disputes on the Las Vegas Strip and the looming shadow of nuclear waste storage at Yucca Mountain are all potential threats to tourism in Nevada.

Such concerns have significantly increased the need for further economic diversification in the state, Guinn said at the 19th annual Governor's Industry Appreciation Luncheon in Las Vegas.

"Economic development is very important to us right now, more so than I can remember at any time in my 38 years in the state," Guinn said. "And that's why it's so vital as we bring new industries to this state that we acknowledge what they're doing for the community."

To that end, Guinn, Lt. Gov. Lorraine Hunt and the Nevada Commission on Economic Development honored more than 25 businesses that have moved into or expanded their operations in the state during the previous 12 months. Because the recognition is designed to promote diversification, businesses honored cannot be involved in gaming, tourism, hospitality or construction.

Kerr-McGee Chemical LLC, which employs 150 people in its Henderson plant, was named Nevada's Exporter of the Year. Hunt said the company "raised the bar for all Nevada exporters" after it added China to its list of active foreign markets last year.

Nearly 20 percent of the company's sales are now exported outside the United States, Hunt said. During this year's first quarter, the Oklahoma City-based company reported total sales of $809 million.

Henderson-based software firm Aldec Inc. was selected as the state's Distinguished Business of the Year after it doubled both its personnel to about 40 employees and its office space in the past 12 months.

Hunt also praised Aldec President and Chief Executive Officer Stanley Hyduke for his company's work with UNLV's college of engineering, particularly its willingness to provide internship opportunities that led to full-time employment for several former students.

Film director Walter Hill was honored with this year's Nevada Film Award for his work on "Undisputed," a prison boxing drama shot primarily in the Las Vegas Valley. Miramax Films plans to release the film, which stars Wesley Snipes and Ving Rhames, this October.

An advocate of Nevada's film industry, Hunt said projects such as "Undisputed" aid tourism by heightening interest in the state. In January, state officials said film revenues generated $135 million in Nevada last year, up from $125 million in 2000.

Keynote speaker Dick Kovacevich, Wells Fargo & Co. chairman and CEO, said the efforts of Tuesday's honorees help his San Francisco-based bank to remain optimistic about Nevada's future.

"We all know how hard Sept. 11 and the recession hit Las Vegas, but we continue to be bullish on the economy here," Kovacevich said. "The investments these businesses have made in Nevada have created new jobs and added significantly to the tax base. They're also net importers of something even more essential to the future growth of Nevada -- human capital, creativity and work ethic."

Other businesses honored at the luncheon were: