(The Center Square) — Federal approval requirements for an 18,000-acre North Las Vegas industrial park have become a headache for developers.
But a bill currently sitting on President Donald Trump’s desk is designed to change that, as Nevada politicians push for greater state control over the Apex Industrial Park.
“I’m thrilled to see the U.S. Senate advance legislation that is critical for my constituents and community in North Las Vegas,” Rep. Steven Horsford, D-Nevada, the bill’s author, said in a press release. “This vote will help solidify our community’s autonomy in making critical investments without unnecessary hurdles from Washington. Local control of the Apex Site means more jobs, more industries and more economic growth for our community.”
The city of North Las Vegas hopes for the project to create an estimated 73,000 jobs and bring in $7 billion in investments over the next 20 years.
Some major factories already exist in the area, with this bill designed to give local leaders control over decision-making to expand the park.
“This legislation cuts through unnecessary government obstacles and allows our businesses to grow at a sustainable pace,” said U.S. Sen. Catherine Cortez Masto, D-Nevada, who helped introduce the bill, in a press release. “It is essential to ensure businesses can efficiently continue to build and expand in Nevada, including at the Apex Industrial Park, [which] will bring new jobs to North Las Vegas and will continue to strengthen our economy.”
Currently projects for the industrial park require approval from the federal Bureau of Land Management. Removal of this approval is seen as a way to speed up developments.
But in recent years, industrial demand in Nevada has remained relatively stagnant because of a boom in factories. This has resulted in a decade-high vacancy rate for industrial space, according to a CBRE, a Dallas-based commercial real-estate services and investments company.
Around one-fourth of a boom in industrial spaces over the past five years, which totaled to 46 million square feet, remains unoccupied.
It is unclear if the demand for industrial space will meet the ambitious Apex Industrial Park project. But if Trump signs the new legislation and removes federal oversight of the area, supporters of the bill hope for development to flood the desert area.
