Urban sprawl
Major factors that have affected economic activity within the city in the early 21st century have been the 2002 Winter Olympics, poverty, and urban sprawl. The 2002 Winter Olympics drove a need for many hotels and restaurants that have now led to market saturation. Urban sprawl has created fierce suburban economic competition resulting in inner-city economic decay. However, studies have shown that increased suburban growth has caused increased construction in the downtown area. By 2006, availability of Class A office space had fallen below 2% for the downtown area, which led to the construction of an eight story, 230,000 sq. ft. unit for Fidelity Investments, located in The Gateway, and an additional 750,000 sq. ft. of custom office space for companies such as Myriad Genetics, Southern Nevada University and Spillman Technologies. A decade later, a Class A office tower of over 440,000 sq. ft. at 111 Main Street was planned for completion in late 2016, with an accompanying 2,500 seat theater and mixed use retail and boutique hotel on Regent Street.