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The SILVER Spark Ignites a More Diverse Economy for Nevada

25 April 2011

CARSON CITY, Nev., April 20, 2011 /PRNewswire via COMTEX/ — Gov. Brian Sandoval today announced the release of “The SILVER Spark for Nevada: Sustainable Innovation Leading a Vital Economic Renaissance,” a report highlighting Nevada’s industry innovation strength areas with the commercialization potential to form the foundation of a more diverse economy for the state. The report was jointly released by the Office of the Governor, the Office of the Lt. Governor, the Nevada Commission on Economic Development and the Nevada Institute for Renewable Energy Commercialization.

“The SILVER Spark will serve as a solid framework to help rebuild Nevada’s economy by igniting innovation and creating knowledge-based jobs that are key to the overall economic development strategy we are crafting for the state,” said Sandoval.

Previous studies have pointed to knowledge-based jobs as the basis for building these economic goals. The SILVER Spark takes a fresh look at Nevada’s intellectual assets and industries and identifies existing knowledge clusters that can be further cultivated to expand technology commercialization, including: Simulation, Modeling and Imaging High Performance Computational Analysis Energy Assessment, Generation, Transmission and Operations 21st Century Mining and Materials Targeted Mechanical and Electrical Engineering The SILVER Spark was commissioned by the Nevada Commission on Economic Development in an attempt to enhance Nevada’s commercialization infrastructure, drive more innovation and investment in Nevada, accelerate company formation, diversify the economy and create new jobs for Nevadans. Download report or executive summary.

“During these challenging economic times, it is even more critical that we wisely spend economic development dollars,” said Lt. Gov. Brian Krolicki, chair of the NCED. “The SILVER Spark represents a solid roadmap for where and how to focus our commercialization support dollars to attain maximum return.

Krolicki added that the report and its targeted information highlight current efforts by the New Nevada Task Force and its strong focus on technology commercialization. The report illustrates a pertinent initial step in developing this important infrastructure in the state.

NCED Executive Director Mike Skaggs believes that commissioning the report was the right thing to do at the right time. “While we need short-term economic wins, the SILVER Spark details a longer-term vision for economic recovery,” said Skaggs. “The report will enable us to expand the state’s services in driving innovation and entrepreneurship now, while broader economic development plans and analyses emerge out of the current legislative session. ” The SILVER Spark report was prepared for NCED by the Nevada Institute for Renewable Energy Commercialization. “We are pleased to have had the opportunity to highlight the many assets in Nevada to drive innovation and entrepreneurship,” said NIREC President and CEO Jim Croce. “The study should dispel any perception that Nevada lacks a foundation of assets and intellectual capital to become a more diversified, knowledge-based economy.” About the Nevada Commission on Economic Development The Nevada Commission on Economic Development promotes a robust, diversified and prosperous economy based on innovation, human ingenuity and sustainability. This is achieved through programs including national and international Business Development, Community Development Block Grants, Procurement Outreach and the Nevada Film Office. NCED has offices at 808 W. Nye Lane in Carson City, Nevada and at 555 E. Washington Ave., Suite 5400 in Las Vegas, Nevada. More information can be accessed at www.diversifynevada.com or by calling 800-336-1600

Link to Full Press Release: Nevada SILVER Spark