Connect Vegas Episode 23 - Andrew Woods
In this episode of the Connect Vegas Podcast, host Ben Laifsky interviews Andrew Woods, director of the Center for Business and Economic Research at University of Nevada, Las Vegas. The conversation explores how applied economic research shapes decision-making across Southern Nevada, from population forecasting to long-term infrastructure planning. Woods explains the center’s role as a bridge between academic economics and real-world application, supporting government, business, and community stakeholders with data-driven insights.
The discussion covers Las Vegas’s growth trajectory, including demographic shifts, housing and land constraints, and the increasing importance of international migration. Woods emphasizes the need for long-term thinking, economic diversification, and a cohesive regional vision to sustain quality of life. He also discusses how emerging forces like AI, economic shocks, and policy changes impact forecasting and planning. The episode blends technical economic analysis with a human-centered perspective on how policy, data, and community intersect.
Key Highlights
* The Center for Business and Economic Research (CBER) acts as an applied economics “consultant for the public,” translating academic research into actionable insights.
* Las Vegas has grown from ~330,000 residents in 1975 to ~2.4 million today, with long-term forecasting playing a central role in planning.
* Population growth is increasingly driven by international migration, particularly from Asia, rather than domestic migration alone.
* Southern Nevada is projected to add roughly 340,000 residents over the next 20 years, though this is subject to policy and migration trends.
* Key constraints facing the region include land availability, infrastructure capacity, and maintaining quality of life amid growth.
* Economic diversification remains a critical challenge, with healthcare, manufacturing, and tech identified as potential growth sectors.
* Las Vegas is particularly vulnerable to economic shocks due to reliance on consumer spending and tourism.
* The “Brews and Economic Views” series fosters dialogue between academics, business leaders, and the public in an informal setting.
* AI is expected to increase productivity and demand for skilled labor rather than simply replace jobs, especially in knowledge industries.
* A major gap identified is the lack of a unified long-term vision for the region’s economic future.
Notable Quotes
* “Think of us like consultants, but on behalf of the taxpayer.”
* “We’re really susceptible in terms of our growth to who is moving here and what is that demographic.”
* “It’s like adding another city of Henderson in the next ten, fifteen, twenty years.”
* “We shouldn’t be the poster child for the highest unemployment rate every time something like this happens.”
* “I think one of our deficits is we don’t think long term enough.”
* “If the challenges are created by humans, then the solutions are going to be man-made as well.”
* “It’s better to fail conventionally than succeed unconventionally.” (referencing John Maynard Keynes)
* “We’re preparing to do more, not less, with AI.”
