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- 🎬 Sony Pictures to Create 18,000 Jobs with New Vegas Studio, Contingent on Tax Incentives
🎬 Sony Pictures to Create 18,000 Jobs with New Vegas Studio, Contingent on Tax Incentives
Issue #260 - August 23, 2024
John Wu
23 Aug
Dear SummerSouth Insiders!
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📆 Weekly Local Events for August 2024
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Monday Classes At Latin Blendz: (Every week on Monday @ 10AM)
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: Must arrive/check-in before 7pm; 7 - 10pm (Every week on Monday); COST (CASH Only) $10 for 2 games (includes shoes) COST: $12 for 3 games (includes shoes)
Monday Night TRIVIA at ReBAR, 1225 S Main St, Las Vegas: (Every week on Monday @ 7PM)
Tuesday
Terrific Tuesday Fun Pickleball @ Police Memorial, Bring a Chair: (Every week on Tuesday @ 2PM)
Sand Volleyball Intermediate, Rusty and Old Time Players @ Aloha Shores Park (NW), Cheyenne & Buffalo, 7550 Sauer St, Las Vegas: (Every week on Tuesday @ 6 - 8 PM)
Run Drink Las Vegas - Weekly Tuesday Run @ Frankie’s Uptown patio: 6:30 - 8:30 PM (Every week on Tuesday), FOLLOW US ON INSTAGRAM @rundrinklv FOR THE LATEST WEATHER/TIMING UPDATES
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Wednesday
Business Leads Group - Networking Breakfast @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Early Risers Toastmasters Meeting (In-Person - Summerlin Egg Works / Online Event: 7 - 8 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting, Summerlin Egg Works, 2025 Village Center Cir, Las Vegas: 12 - 1:30 PM (Every week on Wednesday)
Live Music Yoga w/ Cheryl Slader @ Blue Sky Yoga: (Suggested Donation $12); 5:30 - 6:45 PM (Every week on Wednesday)
Country Crossroads Dance, Rhythms Dance Studio & Event Center, 4545 W Sahara Ave, Las Vegas: $15 Drop-in Rate / $50 for the whole month: 8 - 9 PM (Every week on Wednesday)
Thursday
Abundance Business Networking Group Online Event: 7 - 8:30 AM (Every week on Thursday). Please arrive 10-15 minutes early for networking. Steps to access our BNI Online™ Virtual Chapter Meeting, visit website.
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors: 11 AM - 1 PM (Every week on Thursday). Request to join here.
Free Salsa Classes @ Feel The Music Dance Studio: 7 - 8 PM (Every week on Thursday). Visit the website to register online.
Summerlin Bitcoin Happy Hour, SG Bar, 9580 W Flamingo Rd, Las Vegas: 6:30 PM (Every week on Thursday)
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / Noé Hilyard @ Yoga Sanctuary: 6 - 7:15 PM (Every week on Friday) View Yoga Sanctuary's full schedule.
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 - 8:30 PM (Every week on Friday)
Saturday
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Find Your Yoga Las Vegas - Saturday Morning Meditation with Practitioner Selina Kelly @ Yoga Kandy, LLC. Cost: Love Donation $5-$10 suggested. 11 - 11:45 AM (Every week on Saturday)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Level 1 West Coast Swing @ 2580 N Rancho Dr, North Las Vegas: 7 - 8 PM (Every week on Tuesday); Drop in Rate is $15, Monthly pass is $50; Register online.
⛽ Las Vegas Gas Prices
🎬 Sony Pictures to Create 18,000 Jobs with New Vegas Studio, Contingent on Tax Incentives
Sony Pictures Entertainment has become the second major Hollywood studio to announce plans for a significant expansion in Las Vegas, contingent on the approval of tax credits by the Nevada Legislature. This announcement follows closely behind Warner Bros. Discovery's recent commitment to long-term investments in another film studio in Southwest Las Vegas, signaling a potential boom for the city's entertainment industry.
Speaking at the Las Vegas Global Economic Alliance's “2024 Perspective” event, Sony Pictures Chairman and CEO Tony Vinciquerra outlined the company's ambitious plans to establish Summerlin Studios, a new film production facility at a 31-acre site located off Flamingo Road and Town Center Drive. Vinciquerra revealed that the project, which has been in the works for three years and is now "shovel ready," represents an immediate $500 million investment.
"The message is, this is a ‘no brainer’ to establish an entertainment world here, because people want to work here," Vinciquerra stated during a fireside chat at the event. He emphasized the appeal of Las Vegas to industry professionals, including talent, directors, and producers, who are increasingly drawn to the city for its unique blend of resources and opportunities. “They all want to come to Las Vegas,” he added, underscoring the potential for Las Vegas to become a major hub for film and television production.
The development of Summerlin Studios is being undertaken in partnership with the Howard Hughes Corporation, a prominent real estate developer with deep ties to the Summerlin area. According to Vinciquerra, the project is expected to generate 18,000 jobs, contributing a substantial boost to the local economy. These positions will span a wide range of roles, from construction and facility management to creative and technical jobs within the entertainment industry.
However, the realization of this project, along with the broader expansion of the film industry in Las Vegas, hinges on the approval of tax incentives by the Nevada Legislature. The proposed legislation would provide the necessary financial support to attract and sustain such large-scale investments. If approved, these tax credits could position Nevada as a competitive alternative to other film production hubs like California and Georgia, which have long benefited from similar incentives.
Sony's announcement comes just after Warner Bros. Discovery revealed its own plans to invest billions of dollars in a new studio in Southwest Las Vegas, also pending the approval of tax credits. Together, these developments could mark the beginning of a new era for Las Vegas, transforming the city from a renowned entertainment destination into a major center for film and television production.
Vinciquerra's comments reflect a strong confidence in Las Vegas as a desirable location for the entertainment industry, both for its workforce and for the infrastructure that can be developed to support large-scale productions. As the Nevada Legislature considers the proposed tax incentives, the city stands on the brink of potentially significant economic and cultural growth driven by these high-profile investments.
The momentum building behind these announcements suggests that, with the right legislative support, Las Vegas could soon play a much larger role in the global film industry, attracting top-tier productions and creating thousands of jobs in the process.
⚾ Paseo Verde's Little League World Series Run Ends with 6-3 Loss to Lake Mary
Paseo Verde’s journey to a Little League World Series championship came to a close on Thursday as the Henderson, Nevada team was defeated by Lake Mary, Florida, 6-3, in a tense elimination game in Williamsport, Pennsylvania.
Facing a depleted pitching staff, Paseo Verde, the Mountain Region champion, struggled early, giving up four runs in the first inning. Despite a strong response with three runs of their own in the bottom of the inning, the team was unable to overcome the early deficit, ultimately being held scoreless for the remainder of the game by Lake Mary reliever Teraj Alexander.
“It hurts right now, but those boys showed up as a team and they’re leaving as a team,” said Paseo Verde coach Adam Johnson, reflecting on the team’s efforts. “They definitely need to have their heads up. They played well, and they represented our area well.”
Paseo Verde concluded the tournament with a 2-2 record, while Lake Mary, the Southeast Region champion, improved to 5-1 and advanced to Saturday’s U.S. championship game against Southwest Region representative Boerne, Texas. The winner of that game will compete in Sunday’s title match against either Taoyuan City of Chinese Taipei, the Asia-Pacific champion, or Barquisimeto, Venezuela, the Latin America champion.
The game started on a difficult note for Paseo Verde as starting pitcher Liam Sparks struggled with control, issuing walks to the first three Lake Mary batters. This prompted a quick change, with reliever Russell McGee stepping in. McGee allowed three consecutive hits, including a crucial two-run single by DeMarcos Mieses, before managing to retire the side with Paseo Verde down 4-0.
“Liam’s a great kid,” Johnson said. “He was put in a situation where we felt confident, but things just didn’t go his way.”
In the bottom of the first inning, Paseo Verde rallied with the bases loaded and no outs, narrowing the gap to 4-3 with RBI singles from Oliver Johnson and Noah Letalu, followed by a sacrifice fly from Parker Soranaka.
“We felt like we were in the game from there on,” Johnson said, recalling the team’s early comeback effort.
However, that was the last time Paseo Verde would threaten offensively. Alexander stymied their bats, allowing no runs and just three hits over 3⅔ innings. His unusual delivery, which Coach Johnson described as looking like “he tripped every time in his delivery,” kept Paseo Verde hitters off balance.
Lake Mary extended their lead with solo home runs by Garrett Rohozen and James Feliciano in the middle innings, making it 6-3. Paseo Verde attempted one last rally in the bottom of the sixth, putting two runners on base with two outs, but Lake Mary’s ace, Feliciano, came on in relief and retired McGee on a fly ball to center field, sealing the win for Florida.
Despite the loss, several Paseo Verde players turned in strong performances. Caleb Gomez went 2-for-3 with a run scored, and McGee added a first-inning double. The team finished with seven hits but was unable to capitalize on enough opportunities to overcome Lake Mary’s lead.
As the team reflects on their run in the Little League World Series, they can take pride in their performance and the way they represented their community on a national stage.
❎ Bipartisan Support Grows for Trump's 'No Tax on Tips' During Las Vegas Visit
Former President Donald Trump visited Las Vegas this afternoon to promote his "no tax on tips" campaign proposal, holding an event at Il Toro E La Capra, a restaurant in the city’s south valley. Trump's appearance marks his first visit to Las Vegas following an assassination attempt and comes just days after the Democratic National Convention in Chicago, as the nation gears up for the presidential election in less than three months.
Scheduled to speak at noon, Trump used the event to highlight his plan to eliminate federal taxes on tips, a proposal that has significant implications for Las Vegas, a city heavily reliant on the hospitality industry. "President Trump and Senator (JD) Vance will fight to reverse the financial pressures placed on American workers, starting with NO TAX ON TIPS!" his campaign declared ahead of the appearance. "It’s time for the government to keep their hands out of the pockets of those struggling the most."
This proposal, first unveiled by Trump in Las Vegas in June, aims to alleviate financial strain on tipped workers, who often earn a lower base wage and rely heavily on tips to make up the difference. In some states, tipped employees earn as little as $2.13 per hour before tips, making the removal of federal taxes on these earnings a significant economic relief. Nevada is one of seven states that currently bans sub-minimum wages for tipped workers, ensuring they receive the full minimum wage in addition to their tips.
Following Trump’s initial announcement, the proposal gained traction with the introduction of several congressional bills aimed at eliminating taxes on tips. Nevada Governor Joe Lombardo quickly endorsed the plan, and it garnered bipartisan support, with Democratic Senators Catherine Cortez Masto and Jacky Rosen signing onto a Senate bill backing the proposal.
The movement to remove taxes on tips has also seen support from Vice President Kamala Harris, who, during a Las Vegas rally earlier this month, expressed her backing for both the elimination of tip taxes and an increase in the federal minimum wage. This bipartisan endorsement signals the growing recognition of the economic pressures faced by tipped workers across the country.
Initially skeptical, the Culinary Workers Union Local 226, which represents around 60,000 hospitality workers in Nevada, labeled Trump’s proposal as a “wild campaign promise.” However, the union has since shifted its stance, urging lawmakers to support the proposed legislation. The union’s Secretary-Treasurer, Ted Pappageorge, highlighted the importance of the proposal, stating, "The Culinary Union calls Nevada elected officials to support the federal ban of sub-minimum wages and taxes on tips."
Tipped workers in Nevada, who are protected by the state’s ban on sub-minimum wages, could still benefit from the removal of federal taxes on their tips, further enhancing their earnings. This policy could have a profound impact on the hospitality industry in Las Vegas, where many workers rely on tips as a substantial part of their income.
Il Toro E La Capra, the restaurant where Trump delivered his remarks, is known for its unique fusion of Italian and Mexican cuisine—the name translating to “The Bull and the Goat.” While the restaurant’s owner was not immediately available for comment, the choice of venue reflects Trump’s strategy of connecting with everyday American workers, particularly those in industries directly impacted by his proposals.
Trump's appearance in Las Vegas was not widely advertised as a public event, with his campaign opting for a more low-key approach in contrast to the larger rallies he typically holds. He is scheduled to continue his campaign later today with a rally in Arizona.
As the election nears, Trump’s proposal to eliminate taxes on tips is likely to remain a key talking point in his campaign, particularly in states like Nevada where the hospitality industry plays a crucial role in the economy. With support from both sides of the political aisle and growing backing from labor unions, the proposal could become a significant policy shift, affecting millions of tipped workers across the United States.
💹 Fed Chair Powell Signals Rate Cuts as Inflation Eases and Job Market Cools
With inflation largely under control and the job market showing signs of slowing, Federal Reserve Chair Jerome Powell announced on Friday that the central bank is prepared to start cutting its key interest rate, which currently sits at a 23-year high. Powell's remarks, delivered during the Fed’s annual economic conference in Jackson Hole, Wyoming, signal a potential shift in the Fed's monetary policy as it looks to support economic growth while maintaining price stability.
Although Powell did not specify when the rate cuts would begin or how large they might be, it is widely anticipated that the Federal Reserve will announce a modest quarter-point reduction in its benchmark interest rate during its next meeting in mid-September. “The time has come for policy to adjust,” Powell said in his keynote speech. He emphasized that the direction of rate cuts is clear, but their timing and pace will depend on incoming economic data and the evolving outlook.
Powell’s reference to “multiple rate cuts” suggests that a series of reductions is likely, echoing economists' forecasts. He expressed growing confidence that inflation, which surged to a 40-year high and caused significant economic strain, is now on a sustainable path back to the Fed’s 2% target. “My confidence has grown,” Powell stated, noting that inflation, as measured by the Fed’s preferred gauge, had dropped to 2.5% last month, down from a peak of 7.1% two years ago.
Powell also highlighted the importance of maintaining economic growth and supporting the labor market as the Fed moves towards easing its policy. He suggested that rate cuts would help sustain hiring and economic expansion, which could bolster Vice President Kamala Harris’s presidential campaign, despite widespread dissatisfaction with the current administration's economic record. Powell reiterated the Fed's commitment to balancing price stability with a strong labor market, saying, “We will do everything we can to support a strong labor market as we make further progress toward price stability.”
The anticipated rate cut in mid-September comes just weeks before the presidential election, raising concerns about potential political backlash. Former President Donald Trump has argued that the Fed should avoid cutting rates so close to an election, but Powell has consistently maintained that the Fed’s decisions are based purely on economic data, independent of the political calendar.
Powell acknowledged that while inflation has moderated, the Fed remains concerned about the cooling labor market. The U.S. unemployment rate recently rose to 4.3%, the highest in three years, and job gains have slowed. Powell made it clear that the Fed does not want to see further weakening in the labor market, stressing, “We do not seek or welcome further cooling in labor market conditions.”
In what could be seen as a victory lap, Powell highlighted that the Fed had managed to bring down high inflation without causing a recession or a sharp increase in unemployment, an outcome many economists had feared. He attributed this success to the gradual unwinding of pandemic-related disruptions to supply chains and labor markets, as well as a reduction in job vacancies that helped cool wage growth.
Powell also addressed past criticism that the Fed had been too slow to raise interest rates as inflation began to surge after the pandemic recession. Initially, Fed officials believed that the inflationary pressures were “transitory” and would subside as supply chains healed. However, Powell admitted that the recovery from supply disruptions took longer than expected, as did the persistence of high inflation.
Reflecting on the Fed's initial misjudgments, Powell remarked, “The good ship transitory was a crowded one, with most mainstream analysts and advanced-economy central bankers on board.” He made a light-hearted comment, acknowledging the presence of economists and central bankers at the conference who had shared the same outlook.
Recent economic data, including a drop in inflation and strong retail sales, have eased fears of an impending recession. Wall Street now expects the Fed to implement a series of quarter-point rate cuts in September, November, and possibly a half-point cut in December. Mortgage rates have already begun to decline in anticipation of these adjustments.
However, if the labor market shows further signs of weakening, a more substantial half-point rate cut in September could be on the table. Fed officials have indicated that they will closely monitor employment data in the lead-up to their next meeting.
As the Fed prepares to adjust its policy, the focus will remain on balancing the dual goals of fostering economic growth while ensuring inflation continues its downward trajectory. The coming months will reveal how effectively the central bank can navigate this delicate path.
Summerlin South, NV Demographics
What is the population of Summerlin South?
What are the employment statistics in Summerlin South?
How many households are there in Summerlin South?
What are the median and average incomes in Summerlin South?
How many homeowners and renters are there in Summerlin South?
What is the level of education in Summerlin South?
What is the marital status of Summerlin South residents?
What are the most common means of transportation in Summerlin South?
Methodology & Disclaimers
Demographic data shown in this section was gathered from the latest U.S. Census Bureau release, the 2022 American Community Survey. The information is updated yearly, as soon as new data is made available by the US Census Bureau.
No representation, guarantee or warranty is made as to the accuracy or completeness of information modified or aggregated for specific neighborhoods and/or zip codes.
Zip codes included in this demographic data: 89135
Summerlin Area Command - Week Ending: August 9, 2024
Courtesy of The Las Vegas Metropolitan Police Department.
📌 🏠 Summerlin South - July 2024
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
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Until next time, John Wu.