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Five reasons for Las Vegans to feel optimistic about 2021

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You don’t need us to tell you that 2020 was rough. And no one’s foolish enough to believe that simply because the calendar has turned past December 31, things will instantly get better. The next couple of months, in particular, could feel like an extension of what most consider the worst year of our lifetime. But there’s light on the horizon, for humanity in general and for Las Vegans in particular. You just have to know where to look …

The vaccine rollout

In a calendar year marked with so many significant events, one date in 2020 will resonate most for Americans in the new year. December 14: the day the first Pfizer-BioNTech shot was administered, to a nurse in New York City. Even as the virus raged across the country, with record-breaking daily infections and near-capacity medical facilities, the FDA’s granting of Emergency Use Authorization of the Pfizer vaccine, which scientists say is 95% effective, offered a glimmer of hope in a year that saw so much bad news.

For all the chaos and confusion in the federal response since the start of the pandemic, Operation Warp Speed, the U.S. government’s coronavirus-response program, has helped to accomplish a seemingly impossible task: developing, approving and distributing a working vaccine in record time. It can normally take 10 to 15 years to develop a vaccine—the shortest timeline was the mumps vaccine in 1967, which took four years—and having one for COVID-19 already marks an astonishing feat of modern science.

The rapid development is also causing some people to distrust it, however, and there’s no shortage of misinformation and conspiracy theories floating around the internet. But Dr. Manas Mandal, and immunology researcher and professor at Roseman University of Health Sciences College of Pharmacy, wants people to understand that this vaccine is actually the product of years of research.

“This is a groundbreaking moment for science,” Mandal says. “Scientists have been working on an mRNA technology platform to bring therapeutics and vaccines to the market for the last decade. It did not just happen overnight. … Everybody jumped in with their expertise, their technology. Previously, we have not seen such cooperation in terms of scientific expertise, freely exchanging scientific ideas from every corner of the world. It may appear that it is an eight-month process. In reality, perhaps the process began 10 to 12 years back with other diseases, with other infections in mind. But what cemented this effort is this current infection worldwide and its sheer urgency.”

Pfizer and Moderna are the first biotechnology companies to get their vaccines to market, with others close behind. Both the Pfizer and the Moderna vaccines are mRNA vaccines, meaning they contain material from the virus that causes COVID-19, giving our cells instruction for how to make a harmless protein unique to the virus. Our bodies then recognize that the protein should not be there and build T-lymphocytes and B-lymphocytes that will remember how to fight the virus should it infect us in the future.

Southern Nevada received an initial 12,675 doses of the Pfizer vaccine on December 14 and 15,000 doses of the Moderna vaccine a week later. (Both vaccines require two doses, administered 21-28 days apart.) The Southern Nevada Health District has released a four-tiered distribution plan using the CDC’s recommendations of vaccinating critical populations first. Front-line health care workers and long-term care facilities are in Tier 1, while healthy people aged 16-64 are in Tier 4. Health officials seem optimistic that most Nevadans will get vaccine access by April (though it’s not recommended for children under 16 and pregnant women until there are further trials).

There are three reasons the public should get the vaccine, according to SNHD: It’s safe, effective and free. Still, while the vaccines are a big step toward controlling the pandemic, they likely won’t a signal a quick return to life as we knew it pre-2020. Moving forward, we’ll probably retain, to an extent, our newfound habits, including mask wearing, better hand-washing hygiene and social distancing. But a vaccine gets us closer to a safer new normal, and that’s certainly a cause for optimism as 2021 begins.

A resilient economy

Of all the positive signs that Las Vegas will emerge from the economic crisis of the pandemic, none is more powerful than the real estate market. Consider this: For six straight months, June through November, the median price of an existing single-family home sold in Southern Nevada set a new record—despite historic jobless rates—and the number held steady in December.

According to data from Las Vegas Realtors, the average price in November and December was $345,000, an increase from $307,000 in November 2019 and $312,990 in December 2019. The interest in buying is overwhelming the supply, and most important, has not been negatively impacted by the pandemic.

“The supply of available homes is very low, and demand is high,” says Tom Blanchard, the 2020 president of the real estate association. “We can easily absorb three or four times the current available inventory without tilting the scales of meeting our current demand for housing here in Southern Nevada.”

By comparison, during the Great Recession of the late 2000s, Las Vegas was the hardest-hit market in the U.S., bottoming out with a median home price of $118,000 in 2012. But during the pandemic, Blanchard says, the local market aligns more with what’s happening nationally—a tight supply and record prices—because of low interest rates. “Like other places around the country, we’re seeing multiple offers on properties listed for sale,” he says.

Real estate stability hasn’t been the only economic silver lining during a health crisis that continues into 2021. The local construction industry hasn’t missed a beat during the pandemic, highlighted by the completion of Allegiant Stadium, the expansion of the Las Vegas Convention Center and the arrival of Circa Las Vegas Downtown. The new year will see even more construction, including in Henderson, where machine tool builder Haas Automation will build on 279 acres and Universal Health Services—operators of Henderson Hospital—begin constructing a new campus on 40 acres.

Also, Amazon has plans for eight new facilities in Southern Nevada, including a fulfillment center in North Las Vegas that will bring 2,000 jobs. Plus there’s Resorts World, which continues to go up on the north Strip with a planned opening this summer.

Speaking of summer, tourism officials have repeatedly expressed confidence that the resort corridor will roar back by then, as COVID-19 vaccines continue to roll out. Las Vegas should help provide a safe escape where visitors can finally let loose after months of being quarantined.

“I’m hanging my hat on the vaccines,” says Wells Fargo senior analyst Mark Vitner, who tracks the Las Vegas economy for the bank. “It seems like we’re going to have several good vaccines being widely distributed by March or April. After that starts to happen, I think we’ll see leisure travel come back.”

And that travel will positively impact many aspects of the local economy, especially the job market. The unemployment rate soared to 30% in early spring but dropped to 10.1% in November. That’s 1.8% better than in October, but still significant higher than the 6.7% of November 2019.

IHS Markit, which specializes in economic risk research and analysis, reports the world will enter “2021 at a subdued growth rate and accelerate to a brisk pace in the second half.” The global world GDP, after a 4.2% decline in 2020, will increase by about 4.6%, it projects.

So while the despair of 2020 won’t magically disappear with the new calendar, there’s renewed hope the end is near. “When January 1 is here, it just won’t turn on. We’ll have to be patient,” says Scott Muelrath, the president and CEO of the Henderson Chamber of Commerce. “[But] I suspect the recovery will happen at a quick pace once we get the vaccine out to the community. By the March-April window, we’ll see some significant economic activity.”

Entertainment innovations

In November, Cirque du Soleil announced that Zumanity would not return to its Las Vegas Strip stage, a sad end to a remarkable run for one of the city’s staple production shows. But the most dominant live entertainment company of the past two decades in Las Vegas also recommitted to the city that has greatly boosted its profile, extending contracts and solidifying venue partnerships for its other resident shows on the Strip. And one week later, Cirque confirmed its sale had closed and it would now emerge from bankruptcy protection with new funding and a new board of directors.

“It is the same company, the same bunch of artists and creators that are still very passionate about doing new shows,” President and CEO Daniel Lamarre said in early December. “What the new [ownership] really means for our people is that now I can say the future of the company is guaranteed. They have invested new money—we’re talking over $300 million—and they are there to support us. When the market is back to normalcy, it means we can bring back our shows, bring the company back to profitability and it also means we have the financial strength that it takes to go through the process we’re in right now.”

That process would be the great and tiresome waiting game, the one being played by all parts of the Vegas travel, tourism, hospitality and entertainment industries. It will take more time for many people to be vaccinated, though some restrictions could begin to be eased before that to allow larger gatherings in Las Vegas for events like Cirque’s five other shows.

But the endgame is not just reactivation. Cirque launched five original Vegas productions between 1998 and 2008, a prolific period that also saw the Montreal-based company create multiple international touring shows and emerge as a global player. Las Vegas is the only place in the world where the foundations of such an expansion could occur, and that hasn’t changed.

It’s not enough to get back onstage. It’s time to grow again. That’s why Cirque’s new board includes former MGM Resorts Chairman and CEO Jim Murren and current MGM President of Entertainment and Sports George Kliavkoff. It strengthens the Cirque-Vegas union but also puts Cirque in a great position to expand in Japan when MGM Resorts can refocus on its massive Osaka project. And back on the Strip, there are two empty theaters where Cirque’s shows recently closed—Zumanity at New York-New York and R.U.N at Luxor.

“We are in conversations with MGM to see if there is other artistic content we can bring … because we think any time we come up with content that is distinctive from other shows we already have, there is room to continue to grow in the capital of entertainment, which is Las Vegas,” Lamarre says, adding the company is hopeful it can make announcements about those two venues in the coming months.

It might be the most prominent name, but Cirque du Soleil isn’t the only producer of entertainment that sees extreme opportunity on the post-pandemic Las Vegas Strip. The other big production show closure of 2020, Wynn’s Le Rêve, was created in 2005 by Franco Dragone, the visionary who also co-created Mystére and O with Cirque, along with Celine Dion’s original residency, A New Day.

In mid-November, Dragone’s company showcased a new production concept born out of the pandemic, Rise, a big Vegas-style show with acrobatics and live music that would be performed outdoors at an adjustable, potentially mobile, venue. Already rumored to be developing something for the slated summer opening of Resorts World, Dragone has his eyes on the north Strip festival grounds site that once hosted Rock in Rio as an ideal target for his latest innovation.

“We are exploring every avenue possible to bring the Dragone brand back to Las Vegas, tapping into every possible resource we can to bring that level of entertainment back in a way that can be sustainable,” Rise Director of Creation Damien Long says. “For Franco, Vegas is his second home, it’s the place where he got his start … and was able to start branching off with his own brand.”

Political stability

A Philadelphian marches in the street with a sign proudly proclaiming that his city has been “defeating tyrants since 1776.” On the other side of the country, a man leads an impromptu parade in Venice Beach playing a saxophone with a rubber chicken poking up out of the bell. In Las Vegas, a woman waves from an open-air limousine driving down the Strip, a Biden/Harris flag flapping beside her.

Remember the outpourings of relief, joy and hope that broke out across the U.S. on the day Joe Biden was declared the winner of the 2020 election? Well, two months later, there’s still reason for optimism on the political front, including for Southern Nevadans. From the White House to the state level, the election brought about the possibility of healing from four scarring years and the chance to make meaningful progress on the pandemic recovery, social justice, the environment and other key issues.

Of course, this comes with a major qualifier: What President Donald Trump will do between now and 9 a.m. Pacific time on January 20, when Biden’s inauguration is scheduled to take place. But assuming Trump leaves the White House that day, even if he’s clawing the walls with his fingernails, the prospects of better days ahead will immediately improve. It’s not as if the world will change and darkness will become light immediately, but new leadership opens the door to improvements in areas, such as …

Pandemic response. The Biden administration has pledged to base its COVID-19 decision-making on advice from scientists and public health experts. No more muzzling of skilled and experienced researchers, no more disdain of mask wearing, no more recommendations to inject bleach to kill the coronavirus.

Global warming. The results of the Senate runoff in Georgia will determine how aggressively Biden can tackle climate change, but regardless of the outcome, he can use executive orders to undo many of Trump’s rollbacks of environmental regulations. Look for him to do just that.

Immigration reform. No Trump means no Stephen Miller, the dark architect of some of Trump’s most atrocious immigration policies. The relentless attacks on Dreamers and recipients of Temporary Protected Status will come to an end, as will iron-fist restrictions on asylum seekers, refugees and more.

Social justice.Biden comes to the White House with a comprehensive plan to address racial disparities, including measures on health care, policing, education, affordable housing and support for minority-owned businesses, to name a few areas. In Vice President-elect Kamala Harris, he has a passionate and capable partner in fighting for reforms.

Professional, public-service-oriented leadership will return to the White House. A revolving cast of reality show characters in the inner circle will give way to people who understand policy. The U.S. will go back to having a president who denounces dictatorial leaders and supports our nation’s allies, not the opposite. As Washington Post columnist Eugene Robinson aptly put it about the changeover, “At that point, the insanity level of our nation’s public life will settle back to within its usual range.”

Meanwhile, closer to home, Nevadans voted to keep congressional and legislative leadership mostly stable, with all four incumbent U.S. House candidates winning re-election and Democrats retaining majorities in both the Nevada Assembly and state Senate. The voters were wise: 2020 brought on plenty of disruptions, thank you, without a sea change in leadership.

Another encouraging sign was Nevadans’ strong support for ballot questions protecting voters’ rights, setting high standards for development of renewable energy and doing away with a constitutional provision against same-sex marriage. In short, Nevadans once again rejected the toxic policies of Trump and other extremists—same as they did in 2016. That’s reason for optimism heading into 2021, too.

Challenges remain, of course. Political tribalism, misinformation, Trump’s ongoing incitement of white nationalists and other problems won’t vanish with the turn of a calendar page, as evidenced by the violence at the U.S. Capitol on January 6. But in the votes of Nevadans and the 81 million Americans who supported Biden, there’s high demand for a return to a more unified, constructive, compassionate and responsible nation. And that’s worth celebrating.

Championship dreams

The 2020 season was good for Las Vegas’ two best sports teams. The Las Vegas Aces reached the WNBA Finals, and the Golden Knights made it to the Western Conference Final. The good news for 2021: Neither of those teams is going anywhere.

The Aces could be even better than last year’s team that entered the playoffs as the top overall seed. Las Vegas returns WNBA MVP A’ja Wilson, and will also get back former MVP runner-up Liz Cambage, who opted not to play in 2020, and former No. 1 overall pick Kelsey Plum, who was injured all season.

The Aces are only trending upward. They reached the conference finals two years ago and reached the Finals in just their third season in Las Vegas in 2020. This year, they’re considered one of the favorites to make another run at the franchise’s first championship trophy.

The Golden Knights are in a similar situation. After making the conference final for the second time in three years, Vegas bolstered its blue line with the signing of star defenseman Alex Pietrangelo. His arrival, coupled with the emergence of Shea Theodore, gives the Golden Knights two players who finished in the top six of last season’s voting for the Norris Trophy as the league’s top defenseman.

Throw in a full season of the goalie tandem of Robin Lehner and Marc-André Fleury, and it will be hard to score on the Golden Knights. Their offense is always electric, as almost all of their forwards return to a team that ranked as one of the best offense-driving teams in the NHL last season. Mark Stone, William Karlsson, Jonathan Marchessault and the rest will surely have T-Mobile Arena playing “Vegas Lights,” the team’s goal song, plenty of times this season.

At press time, the Aces had plus-350 odds (bet $100 to win $350) to win the WNBA Finals at William Hill Sportsbook, tied for the second-best odds of any team. The Golden Knights meanwhile stood at plus-550, tops of any NHL team. If either team goes all the way, it could be a boon for the whole area. Winning teams not only bring out a sense of civic pride, but draw fans—pandemic progress willing—to the arenas, bars and restaurants to watch, to the gift shops for merchandise and possibly even to the Las Vegas Strip for a championship parade.

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