Economic rebound gives Nevada funds it wasn’t expecting in state budget

Local News

CARSON CITY — Nevada’s Economic Forum has released forecasts that suggest a quicker-than-expected economic recovery will provide lawmakers additional tax revenue for the state budget.

The five-member panel projected Tuesday that Nevada’s tourism-driven economy will continue to rebound from the coronavirus pandemic and generate a record-high $9.1 billion in general fund revenue over the upcoming two budget years.

The projection is significantly higher than the forum expected in December — more than $500 million in additional revenue — amid uncertainty about COVID-19 vaccines.

It will allow lawmakers to decide whether to restore cuts made to the state budget at the height of the pandemic.

Several reports last week on tourism numbers, airport passengers and casino gaming wins buoyed expectations for the coming months.

The first signs of life for the convention industry have also been making news, with the public unveiling of the Las Vegas Convention Center expansion.

June is expected to bring more positive news as the World of Concrete convention returns, and Resorts World opens on June 24.

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