see the entire henderson economic and demographic overview here

3636

City of Henderson | 240 Water St., Henderson, NV 89015 | cityofhenderson.com | 702-267-2323

11

HENDERSON NEVADA

ECONOMIC AND DEMOGRAPHIC OVERVIEW

111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111

2015 | ECONOMIC AND DEMOGRAPHIC OVERVIEW

CadenceCity of Henderson

22

CITY LEADERSHIP

Andy HafenMayor

Sam BatemanCouncilman

Debra MarchCouncilwoman

John F. MarzCouncilman

Gerri SchroderCouncilwoman

CITY STAFF

Bristol S. EllingtonInterm City Manager

Josh M. ReidCity Attorney

Sabrina MercadanteCity Clerk

Fred HorvathAssistant City Manager

Richard A. DerrickChief Financial Offi cer

3535

BUSINESS & REAL ESTATE | REDEVELOPMENTTUSCANY REDEVELOPMENT AREA

Located in Henderson’s northeast corner, this abandoned gravel pit was designated a redevelopment area

in 2001. Today, Tuscany is a master-planned residential community surrounding an 18-hole championship golf

course.

• New homes continue to be built in six communities that accent the Tuscany Residential Village with prices ranging from the low $100,000s to the high $300,000s.

• At total build out, Tuscany will boast an estimated 2,100 homes.

TTTUUUSSSCCCAAANNYY HHOOOMMEESS

35

3434

LAKEMOOR CANYON REDEVELOPMENT AREA

A previous manganese mine, this area is located south of Lake Las Vegas, across Lake Mead Parkway and

bordering the Lake Mead National Recreation area. Lakemoor, once known as Three Kids Mine, provided the

base mineral that drove magnesium production at local manufacturing plants. The site has been contaminated and

undeveloped since 1961 when production stopped.

• The Three Kids Mine Remediation and Reclamation Act was signed by President Obama on July 25, 2014.

• Developers are now working with Nevada Department of Environmental Protection (NDEP) on a clean-up plan.

BUSINESS & REAL ESTATE | REDEVELOPMENT

34 33

TABLE OF CONTENTSCommunity Location . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Developing Master-Planned Communities . . . . . . . . . . . . . . . . . . . . . . . 7 Public Schools Located in Henderson . . . . . . . . . . . . . . . . . . . . . . . . . 8 Private and Charter Schools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Libraries and Post-Secondary Educational Institutions . . . . . . . . . . . . . . . . . 9 Parks and Recreation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Demographics United States Census Counts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Fastest-Growing Incorporated Places . . . . . . . . . . . . . . . . . . . . . . . . 13 Population Projections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Population Growth by ZIP Code . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Housing Unit Counts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Race and Culture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Education Levels . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Age and Gender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Household Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Business and Real Estate Business Activity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Business Licenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Building Permits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Assessed Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Assessed Value Comparison - Southern Nevada Cities . . . . . . . . . . . . . . . . 21 Assessed Value Comparison - Land Use . . . . . . . . . . . . . . . . . . . . . . . 22 Property Tax Rate Comparison . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Henderson Major Business Parks / Industrial Centers / Retail Corridors . . . . . . . 23 Commercial Real Estate Market Trends . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Existing Land Use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Future Land Use for Vacant Land . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Henderson’s Major Private Employers . . . . . . . . . . . . . . . . . . . . . . . . 26 Tourism and Visitor Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Resort, Hotel, and Motel Properties . . . . . . . . . . . . . . . . . . . . . . . . . 29 Business Assistance Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Business Start-Up Contacts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Redevelopment Agency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

44

Top 10 Most Appealing Cities in the Nation (Vocativ)

Best Cities for Snowbirds and Retirees (Apartments.com)

35 Best Cities for People 35 and Under (Vocativ)

Best Cities for Pet Lovers (WalletHub.com)

10 Safest Cities in Nevada (Movoto Real Estate Blog)

10 Best Cities to Raise Children (MyLife.com)

Best Places to Start a Business (WalletHub.com)

Best Cities for Singles (WalletHub.com)

TOP TEN

SAFEST CITIES IN AM

ERICA

Law Street Media 24/7 Wall Street

33

CORNERSTONE REDEVELOPMENT AREA

This former gravel mine at Stephanie and I-215 has been transformed into a 100-acre detention basin, park, lake

and recreational facility that is also home to additional commercial, residential, and medical projects.

• In the prior fi scal year, DR Horton bought and completed construction of 81 homes which are now

owned by residents. In fi scal year 2014, lots were sold to Ryland Homes and Villa Azure to build 74

townhomes and 48 condominium homes, respectively.

• KB Homes owns a 40-acre parcel that is being reviewed by the Henderson Planning Commission for 128

single family homes. Developers continue to complete due diligence on the few remaining parcels.

EASTSIDE REDEVELOPMENT AREA

Eastside encompasses more than 4,500 acres and includes the Pittman, Valley View and East Sunset Industrial

Corridor, as well as Landwell’s 2,200 acres.

• Cadence

2,200-acre master-planned community

At build-out, Cadence will have 13,250 residences and 450 acres for parks, walking and bike trails, and recreational amenities.

Construction is well underway on this development. The fi rst commercial building is complete and construction has begun on residential units.

• Cowabunga Bay

23-acre water park, featuring more than 30 water slides and attractions

Opened in the summer of 2014 and employs over 400 part-time staff members

• Union Village

Owner Participation Agreement was adopted providing $80.2 million in tax increment reimbursements for the construction of an Integrated Health Village.

This project is anticipated to create over 17,000 direct, indirect and construction jobs in addition to millions in tax revenues for state and local governments.

• Valley Health Systems

Owner Participation Agreement was adopted providing $33 million in tax increment reimbursements on a $150 million hospital project that will be an anchor for the Union Village development.

Expected completion is October 31, 2016.


33

32

DOWNTOWN REDEVELOPMENT AREA- WATER STREET DISTRICT REVITALIZATION

As Henderson’s original business and residential center, this area contains Henderson’s most mature neighborhoods,

including the Water Street District. Formed in 1995 to revitalize existing businesses and attract new investment,

the Downtown Redevelopment Area has made great strides in rejuvenating the economic viability of the area.

The Water Street District of the future is imagined as a vibrant place of activity and beauty, the kind of place where

people will want to live, work and play.

• The Downtown Master Plan was adopted in June 2014 |Provides fl exibility to the development community with the intent to incentivize new construction.

• Exclusive Negotiation/Purchase and Sale Agreements were executed with the developers of Southend on Water and Lovelady Brewery Co. two projects that will contain residential and commercial components.

BUSINESS & REAL ESTATE | REDEVELOPMENTBUSINESS & REAL ESTATE | REDEVELOPMENT

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Located in the southeast corner of the Las Vegas

Valley, Henderson features all of the characteristics of a

premier, well-rounded city. Henderson’s appeal is largely

due to quality master-planned communities, a wide

variety of business opportunities, myriad of nationally

or regionally recognized businesses and amenities, and

convenient proximity to the Las Vegas Strip; University

of Nevada, Las Vegas; McCarran International

Airport; Lake Mead National Recreation Area; and

major highway networks. In addition, Henderson has

award-winning parks and recreation facilities and

programs, a well-developed educational system from

elementary to the university level, and the state's largest

retail shopping corridor including Galleria at Sunset.

COMMUNITY | LOCATION

31

In 1995, the City of Henderson recognized the need to revitalize and reinvest in some of its maturing neighborhoods

and created the City of Henderson Redevelopment Agency. Since then, Redevelopment has not only provided

funding for physical improvements, but has been building communities by attracting new business and private

investment that has created new jobs, added public art to neighborhoods, and provided residents with funding to

make improvements to their homes.

Currently, the City of Henderson’s Redevelopment Agency manages fi ve redevelopment areas: Cornerstone,

Downtown, Eastside, Lakemoor Canyon, and Tuscany.


CLARK COUNTY

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30

Businesses intending to relocate to Nevada and local businesses planning to expand may be eligible for a variety of

incentive programs and services. Programs include, but are not limited to, the following:

BUSINESS START-UP CONTACTS

Economic Development / RedevelopmentCity of Henderson, MSC 512280 Water St., City Hall AnnexHenderson, NV 89015 Phone: 702-267-1650(Resources and assistance for expanding, relocating, and existing businesses)

Nevada Small Business DevelopmentCenter/UNLV Business Start-Up Center, Henderson Satellite Office280 Water St., City Hall AnnexHenderson, NV 89015Phone: 702-979-2183(Providing technical assistance to businesses and integrated business outreach program)

Nevada Secretary of State555 E. Washington Ave.Las Vegas, NV 89101 Phone: 702-486-2880(Business entity filings, incorporating a business)

Nevada Department of Taxation2550 Paseo Verde Pkwy., Suite 180Henderson, NV 89074 Phone: 702-486-2300(Information concerning state business taxes)

• Redevelopment Incentive Programs

• Sales and Use Tax Abatement

• Sales Tax Deferral

• Sales Tax Exemption

• Modifi ed Business (Payroll) Tax Abatement

• Personal Property Tax Abatement

• Green Building Abatements

• Train Employees Now (TEN)

• Silver State Works

• Industrial Development Bonds (IDBs)

• Technical and Support Services

BUSINESS & REAL ESTATE | ASSISTANCE PROGRAMS

City of Henderson - Business LicenseDevelopment Services Center240 Water St., 1st FloorHenderson, NV 89015 Phone: 702-267-1730(City of Henderson business licensing requirements)

Clark County - Clerk's Office *200 S. Lewis Avenue, 3rd FloorLas Vegas, NV 89101 Phone: 702-671-0500(Businesses planning to use a name different than their legal or corporate name; fictitious namecertificate [DBA])

* Also in Henderson City Hall on Thursdays onlyPhone: 702-455-1055

Henderson Business Resource Center 112 Water St.Henderson, NV 89015 Phone: 702-992-7200(Business incubator, information, assistance, counseling and training for Nevada businesses)

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DEVELOPING MASTER PLANNED COMMUNITIES

In the early 1980s the Greenspun family began developing Green Valley, Henderson’s (and Southern Nevada's) fi rst

master-planned community. Today, Henderson is home to 27 premier master-planned communities, encompassing

nearly 15,000 acres. Fourteen additional master-planned communities are under development or in the

planning stages.

City of Henderson Active Master-Planned Community Development

Master-Planned

Community

Existing Units

6/1/15

Maximum Units at

Completion

Current Estimated

PopulationPercent Complete Acres

Ascaya 0 313 0 0.00% 632

Black Mountain Vistas 1,195 1,676 3,056 71.30% 421

Cadence 18 13,250 0 0.00% 2,200

Calico Ridge 590 595 1,119 99.20% 222

Cornerstone 845 1,600 1,879 52.80% 218

Del Webb's Anthem 14,948 15,350 30,530 97.40% 2,535

Inspirada 1,276 13,500 2,925 9.50% 1,940

Lake Las Vegas 1,763 10,231 3,344 17.20% 2,242

MacDonald Ranch Highlands 392 586 968 66.90% 1,213

Seven Hills 3,223 3,318 7,721 97.10% 1,292

Southfork 1,362 1,749 3,207 77.90% 413

The Canyons at MacDonald Ranch 12 900 25 1.30% 607

Tuscany 1,144 2,137 2,570 53.50% 600

Weston Hills 822 864 1,847 95.10% 166

Source: City of Henderson, Community Development Department, June 2015.

COMMUNITY | LOCATION

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Charter Schools5

Private Schools20

Elementary Schools26

Middle Schools7

High Schools6

COMMUNITY | HENDERSON SCHOOLS

8 29

BUSINESS & REAL ESTATE | HOTEL PROPERTIES

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28

Henderson is a premier destination featuring resorts such

as the M Resort, Green Valley Ranch Resort, Hilton Lake

Las Vegas, Westin Lake Las Vegas and the Sunset Station

Hotel and Casino. The city currently has over 4,000

hotel/motel rooms.

BUSINESS & REAL ESTATE | HOTEL PROPERTIES

Existing Property Address Phone Number Room

Count

1 Green Valley Ranch Resort 2300 Paseo Verde Pkwy., Henderson, NV 89012 702-617-7777 495

2 Westin Lake Las Vegas (Formerly Loew's) 101 Montelago Blvd., Henderson, NV 89011 702-567-6000 493

3 Hilton Lake Las Vegas 1610 Lake Las Vegas Pkwy., Henderson, NV 89011 (Formerly Ravella) 702-567-4700 354

4 Sunset Station 1301 W. Sunset Rd., Henderson, NV 89014 702-547-7777 457

5 M Resort 12300 S. Las Vegas Blvd, Henderson, NV 89044 702-797-1000 390

6 Aston MonteLago Village Resort 30 Strada Di Villaggio, Henderson, NV 89011 702-564-4700 112

7 Fiesta Henderson 777 W. Lake Mead Pkwy, Henderson, NV 89015 702-558-7000 224

8 Courtyard By Marriot 2800 N. Green Valley Pkwy, Henderson, NV 89014 702-434-4700 155

9 Homewood Suites by Hilton - St Rose 10450 S. Eastern Ave Henderson, NV 89052 702-450-1045 145

10 Hilton Garden Inn 1340 W. Warm Springs, Henderson, NV 89052 702-322-9000 139

11 Hampton Inn & Suites - St Rose 3245 St. Rose Pkwy., Henderson, NV 89052 702-385-2200 132

12 Springhill Suites 1481 Paseo Verde Pkwy., Henderson, NV 89012 702-270-0995 120

13 Comfort Inn & Suites 475 Marks St., Henderson, NV 89014 702-387-6500 127

14 Residence Inn 2190 Olympic Ave., Henderson, NV 89014 702-434-2700 126

15 Railroad Pass 2800 S. Boulder Hwy., Henderson, NV 89002 702-294-5000 120

16 Best Western Plus Henderson 1553 N. Boulder Hwy., Henderson, NV 89011 702-564-9200 115

17 Townplace Suites 1471 Paseo Verde Pkwy., Henderson, NV 89012 702-896-2900 128

18 Holiday Inn Express 441 Astaire Dr., Henderson, NV 89014 702-990-2323 101

19 Hampton Inn & Suites -Warm Springs 421 Astaire Dr., Henderson, NV 89014 702-992-9292 99

20 Wingate Inn & Suites (Is now Best Western Plus-St Rose) 3041 St. Rose Pkwy., Henderson, NV 89052 N/A N/A

21 Best Western Plus - St Rose 3041 St. Rose Pkwy., Henderson, NV 89052 (Formerly Wingate Inn & Suites) 702-568-0027 99

22 Hawthorn Suites by Wyndham 910 S. Boulder Hwy., Henderson, NV 89015 702-568-7800 71

23 America's Best Value Inn 85 W. Lake Mead Pkwy, Henderson, NV 89015 702-564-1712 58

TOTAL NUMBER OF HOTEL ROOMS 4260

999999999999999999

COMMUNITY | HENDERSON LIBRARIES & POST-SECONDARY

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PrivateColleges4

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9

1010

COMMUNITY | PARKS AND RECREATION

The Gold Medal Award-winning City of Henderson

Public Works, Parks and Recreation Department is

accredited through the Commission for Accreditation

of Park and Recreation Agencies (CAPRA) and

is committed to providing residents with a variety

of life-enriching classes, workshops and events.

These programs are hosted at 63 neighborhood and

community parks, 11 aquatic facilities, and 8 recreation

centers (including two centers for adults 50+).

The City of Henderson's extensive 184-mile trail system

provides an opportunity for recreation and serves

as a mode of alternate transportation. Our Outdoor

Recreation section also offers a variety of organized

walks, hikes, rides, and educational activities that

will enrich your life and put you in touch with nature.

AANNTTHHHEEEMMMM HHHIILLLLSS TTRRRRRAAILL

Aquatic Facilities11Parks63

Recreation Centers8

27

Over the past decade, Henderson has experienced

signifi cant growth in hotel/motel room inventory, number

of attractions and visitors. In 2000, the city had a total room

inventory of 1,752. Since then, the total number of hotel/

motel rooms has more than doubled (see table page 28).

In 2014, Henderson hotels and motels generated nearly

one million room nights, bringing over 580,000 visitors

to the city. Additionally, average daily rate increased by

6.3 percent while the citywide occupancy remained fl at

at 70.8 percent.

Room Nights and Occupancy 2004 - 2014

Occupancy Avg. Daily Rate (ADR)

Year Room Nights Visitor

Volume

Citywide

Average Hotel

Citywide

Average Hotel

2004 697,599 409,904 82% 83% $118.00 $126.17

2005 785,713 461,680 81% 82% $131.06 $139.05

2006 791,359 454,823 82% 83% $133.79 $140.84

2007 811,497 476,830 77% 78% $139.19 $148.32

2008 836,321 491,417 72% 74% $127.08 $135.06

2009 845,369 496 ,733 60% 63% $99.87 $105.80

2010 886,747 521,047 63% 67% $85.39 $93.38

2011 957,029 562,344 64% 66% $86.48 $92.57

2012 987,621 565,880 68% 71% $88.47 $95.20

2013 965,794 567,494 70% 74% $88.46 $94.59

2014 995,581 584,997 71% 73% $94.05 $101.66

Source: Annual report of each local hotel/motel property

BUSINESS & REAL ESTATE | TOURISM STATISTICS

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26

The city's pro-business climate is evident in the names that have been attracted to Henderson. Companies in a variety

of industries call Henderson “home.” Offi ce development, regional corporate headquarters for large companies, as

well as retail and specialty retail developments are expected to increase the diversity of employment opportunities.

BUSINESS & REAL ESTATE | PRIVATE EMPLOYERS

Trade Name Size class Industry

ST. ROSE DOMINICAN-SIENA 1500 to 1999 employees General Medical and Surgical Hospitals

GREEN VALLEY RANCH 1500 to 1999 employees Casino Hotels

M RESORT SPA CASINO 1000 to 1499 employees Casino Hotels

SUNSET STATION HOTEL & CASINO 1000 to 1499 employees Casino Hotels

ST. ROSE DOMINICAN HOSPITAL -

ROSE DE LIMA CAMPUS 700 to 799 employees General Medical and Surgical Hospitals

FIESTA HENDERSON CASINO HOTEL 600 to 699 employees Casino Hotels

TITANIUM METALS CORPORATION OF 500 to 599 employees Nonferrous Metal (except Aluminum) smelting

SUNRISE CARPENTRY INC 400 to 499 employees Residential Framing Contractors

POLY-WEST INC 400 to 499 employees Unsupported Plastics Bag Manufacturing

WAL-MART SUPERCENTER 400 to 499 employees Warehouse Clubs and Supercenters

BARCLAYS SERVICES LLC 400 to 499 employees Credit Card Issuing

UNILEVER MANUFACTURING (US) 300 to 399 employees Ice Cream & Frozen Dessert Manufacturing

CASHMAN EQUIPMENT COMPANY 300 to 399 employees Construction Equip Merchant Wholesalers

WAL-MART SUPERCENTER 300 to 399 employees Warehouse Clubs and Supercenters

COSTCO WHOLESALE CORP 300 to 399 employees Warehouse Clubs and Supercenters

CSAA INSURANCE EXCHANGE 300 to 399 employees Claims Adjusting

WESTIN LAKE LAS VEGAS RESORT & SPA 300 to 399 employees Hotels (except Casino Hotels) and Motels

YOUR VITAMINS INC 200 to 299 employees Pharmaceutical Preparation Manufacturing

LEVIS STRAUSS & CO 200 to 299 employees Mens/Boys Clothing Merchant Wholesalers

FINDLAY TOYOTA 200 to 299 employees New Car Dealers

CARMAX AUTO SUPERSTORES INC 200 to 299 employees Used Car Dealers

FEDEX GROUND PacKaGe SYSTEM INC 200 to 299 employees Couriers

CREDIT ACCEPTANCE CORPORATION 200 to 299 employees Sales Financing

REPUBLIC SILVER STATE DISPOSAL 200 to 299 employees Solid Waste Collection

ROSEMAN UNIVERSITY 200 to 299 employees Colleges and Universities

TOURO UNIVERSITY 200 to 299 employees Colleges and Universities

MED-SMART INC 200 to 299 employees Diagnostic Imaging Centers

HEALTHSOUTH REHABILITATION 200 to 299 employees Other Hospitals

TLC CARE CENTER 200 to 299 employees Nursing Care Facilities

DELMAR GARDENS OF GREEN ValLeY 200 to 299 employees Nursing Care Facilities

LAKE MEAD HEALTH & REHABILITATION 200 to 299 employees Nursing Care Facilities

LIVING ASSISTANCE SERVICES-VISITING 200 to 299 employees Services for the Elderly and Disabled

COWABUNGA BAY 200 to 299 employees Amusement and Theme Parks

RAILROAD PASS HOTEL AND CASINO 200 to 299 employees Casino Hotels

1111

DEMOGRAPHICS

12

The United States Census is conducted every 10 years, in

years ending in zero, to count the population and housing

units for the entire United States. Its primary purpose is

to provide the population counts that determine how seats

in the U.S. House of Representatives are apportioned.

In 2010 (the most recent federal census), the City

of Henderson had experienced extraordinary growth

with the population increasing by 82,348 residents

since the 2000 census and 192,787 since 1990.

Population April 1, 1950-2013

Year Population Increase Increase

1950 5,717 - -

1960 12,525 6,808 119%

1970 16,400 3,875 30%

1980 23,376 7,976 49%

1990 64,942 40,566 166%

2000 175,381 110,439 170%

2010 257,729 82,348 44%

2013* 270,798 13,069 5%

Source: U.S. Census Bureau, American Community Survey

DEMOGRAPHICS | UNITED STATES CENSUS COUNTS

12 25

Vacant land accounts for 40 percent of the total land within Henderson city boundaries. Low density residential

land use accounts for the majority of the developed land within the City of Henderson (21 percent). Land used

for right-of-way purposes such as streets, fl ood control facilities, and railroads is the next highest use (13

percent). Land categorized as public/semi-sublic (8 percent) includes uses such as parks, golf courses, schools, and

municipal buildings.

Existing Land Use Category Acres Percent

Low Density Residential 14,683 20.91%

Medium Density Residential 539 7.70%

High Density Residential 3,692 5.26%

Industrial 1,160 1.65%

Commercial 5,719 8.15%

Public/Semi-Public 5,815 8.28%

Other 1,064 1.51%

Right-of-Way 9,302 13.25%

Vacant 28,234 40.22%

BUSINESS & REAL ESTATE | LAND USE

Henderson Existing Land Use by Category

25

24

The Henderson commercial market added 195,000 square feet of completions during 2014.

Commercial Real Estate Snapshot / Henderson Market

Offi ce 2012 2013 2014

Vacancy Rate 27.7% 26.1% 24.7%

Completions 128,000 46,000 0

Net Absorption 198,000 248,000 190,000

Industrial 2012 2013 2014

Vacancy Rate 10.7% 7.7% 5.0%

Completions 0 0 70,000

Net Absorption 445,000 349,000 386,000

Retail 2012 2013 2014

Vacancy Rate 8.1% 8.4% 6.8%

Completions 103,000 12,000 195,000

Net Absorption 237,000 -19,000 385,000

Source: Applied Analysis

Commercial Real Estate Supply Considerations / Henderson Market Area

Existing Supply Future Supply

Sector Total Inventory Vacant Inventory Under Construction Planned

Offi ce 13,290,000 3,278,000 0 1,000,000

Industrial 11,945,000 603,000 82,000 240,000

Retail 13,182,000 894,000 11,000 488,000

Total 38,417,000 4,775,000 93,000 1,728,000

Source: Applied Analysis

BUSINESS & REAL ESTATE | MARKET TRENDS

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13

DEMOGRAPHICS | GROWTHFASTEST-GROWING U.S. INCORPORATED PLACES

Over the past decade, Henderson has consistently been on the list of the fastest-growing places (over 100,000).

Rank GeographyApril 1, 2010

Census

Population Estimate (as of July 1) 2010 to

20132000

2000 to

20132010 2011 2012 2013

1 Gilbert, Arizona 208,453 209,468 214,014 221,223 229,972 10.34% 109,697 109.64%

2 North Las Vegas, Nevada 216,961 216,946 218,952 223,033 226,877 4.70% 115,488 96.45%

3 Fayetteville, North Carolina 200,564 200,865 201,532 201,834 204,408 1.91% 121015 68.91%

4 Cape Coral, Florida 154,305 154,825 157,788 161,492 165,831 7.47% 102,286 62.12%

5 Fontana, California 196,069 197,009 199,724 201,217 203,003 3.54% 128929 57.45%

6 Raleigh, North Carolina 403,892 406,324 414,094 423,338 431,746 6.88% 276,093 56.38%

7 Henderson, Nevada 257,729 258,004 260,045 265,285 270,811 5.20% 175,381 54.41%

8 Fort Worth, Texas 741,206 745,937 761,704 778,084 792,727 6.83% 534,694 48.26%

9 Chula Vista, California 243,916 244,716 248,436 252,545 256,780 5.27% 173,556 47.95%

10 Bakersfi eld, California 347,483 348,938 353,341 357,603 363,630 4.62% 247,057 47.18%

11 Charlotte, North Carolina 731,424 738,710 755,928 774,442 792,862 7.76% 540,828 46.60%

12 Peoria, Arizona 154,065 154,362 156,618 159,746 162,592 5.52% 112,936 43.97%

13 Grand Prairie, Texas 175,396 175,976 178,723 181,667 183,372 4.50% 127,427 43.90%

14 Chandler, Arizona 236,123 236,697 239,801 245,671 249,146 5.49% 176,581 41.09%

15 Laredo, Texas 236,091 237,076 240,847 244,778 248,142 5.11% 176576 40.53%

16 Orlando, Florida 238,300 239,425 243,794 250,159 255,483 6.97% 185951 37.39%

17 Irvine, California 212,375 213,366 220,367 229,373 236,716 11.71% 173072 36.77%


14

Offi cial census data shows that over the decade between

2000 and 2010, the city’s population increased by nearly

50 percent. Between the time the two most recent

census surveys were taken, an average of nearly 900 new

residents a month chose to call Henderson home. Even

though the percentage of growth has varied because

of the growing population base, the actual number

of new residents per year during that period had been

relatively stable, slowing only as signs of an economic

downturn were beginning to manifest. Today, Henderson

continues to attract new residents and enjoys positive

growth even though that rate has slowed signifi cantly.

The Population Projections Table below are trends and

projections for upcoming census and mid-census year

data compiled by the City of Henderson Community

Development Department, and may offer a more

timely representation of current population trends.

DEMOGRAPHICS | POPULATION PROJECTIONS

Historical Population Trends and

Future Growth Projections

Year Total# of New

Residents

Percent

Change

1998 157,376 12,818 8.90%

1999 171,076 13,700 8.70%

2000 185,673 14,597 8.50%

2001 198,226 12,553 6.80%

2002 210,206 11,980 6.00%

2003 220,236 10,030 4.80%

2004 233,506 13,270 6.00%

2005 243,897 10,391 4.40%

2006 256,128 12,231 5.00%

2007 265,790 9,662 3.80%

2008 272,063 6,273 2.40%

2009 275,134 3,071 1.10%

2010 276,428 1,294 0.50%

2015 284,968 8,540 3.10%

2020* 309,314 24,346 8.50%

2025* 333,336 24,022 7.80%

2030* 358,280 24,943 7.50%

2035* 382,659 24,379 6.80%

2040* 405,889 23,230 6.10%

Build-Out** 483,267 77,379 19.10%

*Estimates ** Build-out refl ects the capacity within the existing corporate limitsSource: City of Henderson Community Development Department, January 2015.

23

Henderson Major Business Parks / Industrial Centers / Retail Corridors

Business Park / Industrial Center Major Retail Corridors

1) Gibson Business Park 1) St. Rose Parkway & Eastern Avenue

2) Black Mountain Business Park 2) Sunset Road & Green Valley Parkway

3) Traverse Point Center3) Galleria at Sunset Sunset Road & Stephanie Street to Warm Springs Road & Marks Street

4) Green Valley & Whitney Mesa Business Parks 4) Boulder Highway & Lake Mead Drive

5) Henderson Executive Airport Center 5) The District at Green Valley Ranch

6) Conestoga Industrial Area 6) Montelago Village at Lake Las Vegas

7) Cornerstone

8) Sunpac Industrial Park

9) Black Mountain Industrial Center

10) Henderson Commerce Center

11) Green Valley Corporate Center

12) Green Valley Corporate Center South

13) Siena Offi ce Park

14) West Henderson Business Centre

BUSINESS & REAL ESTATE | BUSINESS AREAS

BBBARCLAYCCCARD 23

22

ASSESSED VALUE COMPARISON

Henderson continues to focus its efforts on recruiting

new businesses, strengthening existing businesses, and

diversifying the local economy. This includes maintaining

a pro-business climate and recruiting a select list

of target industries including medical, industrial,

fi nancial, educational, and administrative offi ces, each

of which create job opportunities for our residents.

A comparison below of commercial, industrial, and

residential assessed value shows that although residential

land uses represent by far the highest percent of land use, the

city has maintained a balance in land uses through attracting

new commercial and industrial development projects.

PROPERTY TAX RATE COMPARISON

For Fiscal Year 2015, Henderson’s city property tax rate

continues to be 71 cents per $100 in assessed valuation.

Henderson has maintained the same property tax rate for

the past 23 years and continues to have one of the lowest

rates in the Las Vegas metropolitan area and in Nevada.

Assessed Value Comparison - Land Use

8,074,132,497 Residential

489,313,955 Industrial

4,313,348,929 Commercial

6,783,755,835 Vacant/Misc.

Property Tax Rate

0.2

0.4

0.6

0.8

1.0

1.2

0.71

1.061.16

0.96

BUSINESS & REAL ESTATE | VALUE

15

DEMOGRAPHICS | POPULATION GROWTH BY ZIP CODE

AE

LK

MEA

DPK

WY

McCarranInt'lAirport

ClarkCounty

HendersonExecutive

Airport

5

LAS

VE

GA

SB

LVD

"The

Stri

p "

EA

STE

RN

AV

E

BOULDERHW

Y

STROSE

PKWY

SUNSET RD

Z

HROI ON

RIDGE PK WY

GR

EEN

VALL

EY

PKW

Y

TROPICANA AVE

ClarkCounty

89002

89011

89012

89014

89015

89044

89052

89074

89122

89124

Note: no population exists in the portions of ZIP code 89124 that lie within the boundaries of Henderson

Total Population by ZIP Code

89002 33,912 12%

89011 19,062 7%

89012 32,519 11%

89014 39,429 14%

89015 42,055 15%

89044 17,554 6%

89052 51,613 18%

89074 49,293 17%

89122 835 0%

Henderson's population growth continues to be more evenly spread across the city. The city's population is no longer

concentrated in one or two established areas as it has been in the past.

891220%

89002 12%

8901211%

8901414%

8901515%89044

6%

89052 18%

8907417%

890117%

16

Henderson offers a variety of housing choices, a large majority of which fall into the single detached dwelling category.

Single family homes can be found in varying architectural styles, set into many types of neighborhoods. The diversity

in housing choices adds to the appeal of Henderson.

Housing Units by Type

Single Family 82,298 69%

Mobile Homes 1,608 1%

Multi-Plexes 549 0%

Apartments 19,735 17%

Townhomes 7,480 6%

Condominium 7,731 7%

Townhomes6%

Condominiums7%

Apartments17%

Mobile Homes1%

Multi-Plexes0% Single Family

69%

DEMOGRAPHICS | HOUSING UNITS

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Nevada does not use a home's market value to calculate property taxes. Instead, property taxes are

based on the net assessed value of a home. The assessed value represents 35 percent of the taxable value

of the property. This assessed value fi gure is the base on which revenue for state and local

government is calculated. Generally speaking, taxable value is reached by adding the market

value of the land and the current replacement cost of improvements, less statutory depreciation.

City of Henderson Total Assessed Value

Parcel

Count*

Assessed

Land

Assessed

Improvements+

Assessed

Supplemental

Assessed

Exempt

Net Assessed

Value

Net Taxable

Value

Residential 648,071 8,074,132,497 30,662,771,204 521,588,701 568,887,118 38,689,605,284 110,541,729,383

Industrial 4,216 489,313,955 1,453,381,836 26,932,413 50,155,639 1,919,472,565 5,484,207,329

Commercial 16,511 4,313,348,929 15,454,774,951 212,628,457 5,505,600,927 14,475,151,410 41,357,575,457

Vacant/Misc. 67,503 6,783,755,835 48,995,483 25,742,719 4,450,832,066 2,407,661,971 6,879,034,203

2014-15 Totals 736,301 19,660,551,216 47,619,923,474 786,892,290 10,575,475,750 57,491,891,230 164,262,546,371

2013-14 Totals 730,098 17,558,800,005 42,489,672,700 0 10,165,156,403 49,883,316,302 142,523,760,863

% Growth 0.85% 11.97% 12.07% 0.00% 4.04% 15.25% 15.25%

Assessed Value Comparison

FY 2013 FY 2014Change

FY13-FY14

%

Change

FY 2015

Estimated

Change

FY14-FY15

%

Change

Henderson $8,255,600,100 $8,514,933,298 259,333,198 3.10% $9,599,639,616 $1,084,706,318 12.70%

Clark County 54,193,378,125 55,218,017,749 1,024,639,624 1.90% 62,898,942,089 $7,680,924,340 13.90%

Las Vegas 11,926,888,555 12,251,484,406 324,595,851 2.70% 13,852,723,777 $1,601,239,371 13.10%

North Las Vegas 3,987,869,401 4,068,384,524 80,515,123 2.00% 4,730,877,154 $662,492,630 16.30%

Boulder City 510,495,001 528,726,970 18,231,969 3.60% 609,805,199 $81,078,229 15.30%

Mesquite 518,585,360 538,961,318 20,375,958 3.90% 583,373,057 $44,411,739 8.20%

Source: Nevada Department of Taxation

BUSINESS & REAL ESTATE | ASSESSED VALUE

20

BUSINESS & REAL ESTATE | BUSINESS ACTIVITY

Building Permit ActivityYear Total Bldg Permits Percent Change Commercial/Ind Percent Change2014 13,365 18% 569 27.3%

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Active Business Licenses*As of January 1, 2015

Building Permits Issued in 2014

10,430 13,365

20 17

DEMOGRAPHICS | RACE AND CULTURE

Demographic Profi le

Race Henderson Clark County Nevada USA

White 78.80% 62.70% 68.30% 73.70%

Black or African American 5.70% 10.80% 8.40% 12.60%

American Indian & Alaska Native 0.50% 0.50% 1.10% 0.80%

Asian 7.90% 9.30% 7.70% 5.10%

Native Hawaiian & Other Pacifi c Islander 0.40% 0.70% 0.70% 0.20%

Some other race 3.00% 11.60% 9.60% 4.70%

One race

Two or more races

96.30% 95.50% 95.80% 97.00%

3.70% 4.50% 4.20% 3.00%

Hispanic or Latino - Culture * Henderson Clark County Nevada USA

Non Hispanic or Latino 86.20% 72.50% 70.00% 82.90%

Hispanic or Latino (of any race) 13.80% 27.50% 30.00% 17.10%

Source: U.S. Census Bureau, American Community Survey *The federal government considers race and Hispanic origin to be two separate and distinct concepts. For this reason, Hispanics may be of any race. For more information, visit www.census.gov

Educational Attainment

Population 25 years and older

Henderson Las Vegas North Las

Vegas Reno

High School

Grad or higher 92.50% 82.50% 77.10% 85.70%

Bachelor's

Degree or higher 30.70% 21.40% 15.00% 28.90%


18

United States Census estimates the largest age group in

Henderson as the 40- to 50-year-olds with a combined

total of just over 20,000 residents. This represents

a slight shift towards younger residents than in recent

years in which Henderson experienced the greatest

population increases in the 50+ age groups, which grew

at higher rates than county, state, and national averages.

With the building of age-restricted communities during

the 1990s, Henderson had become a place to fi nish

a career or retire, but this trend may be shifting. In

addition, according to the 2014 Las Vegas Perspective,

Henderson households enjoy an average income

level that exceeds that of the county by 23 percent.

DEMOGRAPHICS | AGE, GENDER, INCOME COMPARISON

Age and Gender

Henderson Clark County Nevada USA

Gender

Male 130,792 48.30% 1,017,256 50.20% 1,403,068 50.30% 155,627,698 49.20%

Female 140,006 51.70% 2,027,868 49.80% 1,387,068 49.70% 160,501,141 50.80%

Age

Under 5 years 12,386 4.60% 133,012 6.60% 177,287 6.40% 19,770,079 6.30%

5 to 9 years 18,728 6.90% 143,533 7.10% 193,023 6.90% 20,606,012 6.50%

10 to 14 years 18,558 6.90% 132,423 6.50% 180,243 6.50% 20,735,582 6.60%

15 to 19 years 13,805 5.10% 128,448 6.30% 178,628 6.40% 21,386,643 6.80%

20 to 24 years 14,314 5.30% 137,323 6.80% 188,071 6.70% 22,719,908 7.20%

25 to 34 years 31,230 11.50% 298,851 14.70% 397,867 14.30% 42,626,555 13.50%

35 to 44 years 40,905 15.10% 288,522 14.20% 379,270 13.60% 40,608,235 12.80%

45 to 54 years 38,912 14.40% 273,777 13.50% 378,190 13.60% 43,674,983 13.80%

55 to 59 years 17,030 6.30% 123,812 6.10% 177,429 6.40% 21,108,252 6.70%

60 to 64 years 17,821 6.60% 108,011 5.30% 159,296 5.70% 18,228,600 5.80%

65 to 74 years 29,639 10.90% 161,925 8.00% 236,888 8.50% 25,213,746 8.00%

75 to 84 years 12,753 4.70% 71,521 3.50% 103,565 3.70% 13,465,490 4.30%

85 years and older 4,717 1.70% 26,710 1.30% 40,379 1.40% 5,984,754 1.90%

Total 270,798 100.00% 2,027,868 99.90% 2,790,136 100.10% 316,128,839 100.20%


Household Income in the Past Twelve Months

Henderson Las Vegas North Las Vegas Clark County Phoenix Tucson Reno

Households-

Median Income $64,489.00 $51,143.00 $56,809.00 $52,876.00 $47,139.00 $37,032.00 $46,770.00

Households-

Mean Income $83,672.00 $67,948.00 $69,032.00 $69,671.00 $65,199.00 $49,879.00 $64,702.00


19

BUSINESS & REAL ESTATE

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see the entire henderson economic and demographic overview here

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