In mid-December the U.S. Census Bureau released figures on population growth over a 12-month period that ended July 1, 2018, as well as migratory patterns of U.S. citizens moving from one state to another. While the bureau's study showed one of the weakest U.S. population gains in years – since 1937, in fact, at 0.6 percent, the study clearly defined four western states with the greatest population growth, year-over-year, as a percentage of existing population. They were, in this order, Nevada (2.10 percent), Idaho (2 percent), Utah (1.85 percent) and Arizona (1.7 percent). Not surprisingly, Texas and Florida have continued to add population and are among the fastest growing states in the country.

The census survey made me curious and I wanted to find out if some of our offices had grown substantially and added commercial real estate professionals and services to capitalize on growth in their states. Principals from NAI offices in Las Vegas (which also serves St. George and Lehi, Utah), Reno, Phoenix, Salt Lake City and Boise, Idaho, responded to my email query on growth with a resounding “Affirmative!”

The following brief account of business growth in these four states is an example that others may follow, or already have, while also providing some insight for investors and developers seeking the best returns on their capital.