Study: Apex Industrial Park could harness 20,000 jobs
LAS VEGAS (KSNV News3LV) —
The Apex Industrial Park could harness an estimated 20,000 jobs if fully developed as an “innovation hub,” according to a new study released by the Las Vegas Global Economic Alliance.
Apex is located northwest of the Las Vegas metro area, near Interstate 15 and U.S. Highway 93. Economists say the success of high profile tech companies like Faraday Future and Hyperloop One is vital to the growth of Apex.
RELATED LINK | Hyperloop One hopes to transport cargo, people in five years
Apex boasts some 18,000 acres of prime property with a handful of companies quietly working in the desert.
“Just in the last 12 months, our pipeline of incoming companies that are expressing interest in the market has shifted dramatically to manufacturing,” said LVGEA President Jonas Peterson, adding that Faraday Future and Hyperloop One are paving the way for innovation in the Silver State.
“They are a catalyst out at Apex. We need them to be successful,” said Peterson.
RELATED LINK | Faraday Future breaks ground in North Las Vegas
However, some are skeptical of electric car company Faraday Future after reports of money problems and stalled construction over the past year.
Today, the company is pointing to progress. Faraday Future announced in a tweet that they have begun Phase 2 of the project to build a manufacturing plant.
However, the progress of Apex as an innovation hub will depend on much-needed infrastructure improvements.
“There is infrastructure but more needs to be done to make buildable, ready sites,” said Peterson.
Another major hurdle could include transporting thousands of workers and goods each day.
Despite some uncertainty with Faraday Future, the state is moving forward with plans to expand the roads leading to Apex. A $70 million project is planned to expand U.S. Highway 93 for a five-mile stretch.
As for Faraday Future, they claim to have already invested $120 million into its manufacturing plant. They insist they have no plans to walk away from their $1 billion commitment to the area.