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November 27, 2009

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Nevada flunks asset development tests

Monday, Oct. 21, 2002 | 11:10 a.m.

Nevada is one of the worst states in the nation for families trying to build and protect financial assets, the Washington D.C.-based Corporation for Enterprise Development found.

In Business Las Vegas, a sister newspaper to the Las Vegas Sun, reported the non-profit group gave F's to Nevada for "asset outcomes" and "asset policy" in its inaugural State Asset Development Report Card. The state ranked 46th among the 50 states in both categories, CFED said.

Nevada finished low in most categories, ranking 43rd in the percentage of of residents who are homeowners and coming up dead last in small-business ownership, with the percentage of the labor force owning small companies as of 2000 at 9.3 percent.

But a business expert told In Business Las Vegas that the ranking may be skewed because of the state's rapid growth and unique dependence on the gaming industry.

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