Encore, part of Wynn Las Vegas is expected to open in December 2008. The Encore Tower will add an additional 2,034 suites to the resort at an estimated cost of $2.2 Billion. Applications will be accepted for the 5,300 positions at the hiring center starting in mid July.
How will Encore effect the local economy? The obvious, 5,300 new jobs will have a long term effect. The short term effect will be the tens of thousands that come to Las Vegas for the grand opening of Encore. December is usually the slow time of year for the Hotel and Casino Industry, so the grand opening of Encore would bring in much needed revenue for the local economy.
Many of the new jobs created will be filled by employees from other hotels leaving openings at these other properties. The increase in available jobs will cause an influx of people relocating to the Las Vegas Valley. These new Las Vegas residents will need some type of housing whether it be an apartment, rental home or home ownership, which will be good for the local Las Vegas Housing market.
The Las Vegas Real Estate Market is currently doing better and there are many positive signs on the horizon like the opening of Encore that indicate we are on our way to a recovery.
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Tony Sena
Tony Sena is broker/owner of Shelter Realty in Las Vegas, Nevada. For more than a decade Tony and his partners have provided residential real estate and property management services to sellers, buyers, investors, and property owners in the Las Vegas Valley. A Las Vegas native and former police officer for the City of Henderson, Tony brings to the table a unique local perspective that continues to serve his clients well.
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