Friday marked the close of the third straight year for a record number of new and expanding companies assisted by the Economic Development Authority of Western Nevada.
Reno-based EDAWN reported a total overall economic impact of nearly $330 million from 25 new companies, 19 expansions and two retention projects.
That represents a 24 percent increase over the previous fiscal year's economic impact with the 46 companies generating 1,890 new jobs across the region, according to the business-recruiting agency.
"That's great in the fact that we're not such a low-cost destination anymore," EDAWN CEO Chuck Alvey said of the region's rocketing housing prices and rising energy and other related costs of doing business.
But, he added, "Northern Nevada's business-friendly climate, proximity to California and quality of life make the region a valuable asset for companies looking to grow or start their business."
Alvey also cited other factors, including an ongoing advertising campaign in key California markets backed by EDAWN, the state, Carson City-based Northern Nevada Development Authority and Las Vegas-based Nevada Development Authority.
Eleven of the 25 new businesses to the region last fiscal year were from California.
The ad campaign, deemed a success in that it got an estimated several million dollars' worth of publicity value, officially closed with Friday's end of the 2006 fiscal year.
Alvey said he will meet with the other agencies involved to brainstorm new approaches for the coming year.
"We'll regroup and try to decide what's next," he said. "We'll be looking for a new tact, some new regional endeavor."