Taxable sales growth eased considerably in FY 1998, cutting sales tax growth in half. Over the course of the past year, the State's mining industry has retrenched in the face of weak gold prices. The end result is stagnant or declining job rolls and significant reductions in the level of taxable sales in many of the State's mining-based rural communities. Other anecdotal evidence of the impacts of mining's difficulties can be found in school enrollment declines in some of the State's rural counties. The construction sector, however, remains vibrant in Nevada.
Job growth remains in the high single-digits.
In addition, the Las Vegas Strip is in the process of another major round of megaresort expansion projects. All things considered, the Nevada economy remains on solid ground. Although driven by the service sector, the State's goods-producing industries, with the exception of mining, are thriving and prospering in Nevada's hospitable business climate. However, an encouraging past does not guarantee a promising future. As outlined below, there are some outstanding issues which have the potential to adversely impact Nevada's impressive economic showing.