Tech entrepreneurs are leaving California for Las Vegas. What’s drawing them here?

Wealthy entrepreneurs leaving California for Las Vegas are finding more than tax benefits, according to leaders at the fifth annual Vegas Tech Summit. Lifestyle, family-friendly neighborhoods, and a growing business community are helping make Southern Nevada a place to put down roots.

Brian Lee, co-founder of The Honest Company and LegalZoom, moved from Los Angeles to Summerlin with his family last year. "I'd lived there pretty much my entire life, and L.A. is just not what it used to be," he said. "And so my wife and I and our family were looking for some change and we discovered Summerlin which kind of reminds me of Orange County where I'm from." Lee, who recently launched the digital card-collecting platform Arena Club with Derek Jeter, cited government and politics as a primary reason for leaving. "I think a lot of it has to do with government. And making sure you have a good mix of both sides. Because most of us are in the center, we're not completely right or completely left, and so you really have to have a mix and balance each other out."

The Las Vegas Valley remains the top destination for people leaving Los Angeles, according to Redfin's relocation models. Historically, about a third of people moving to Nevada from other states have come from California, primarily Los Angeles, San Francisco, and San Jose. Since the pandemic began, Nevada has consistently ranked among the top five destinations for people relocating from blue states.

Lee said the quality of local dining surprised him. "The biggest thing that surprised me is how good the food is here. Even off the Strip, we're finding some amazing little restaurants, and my wife and I are big foodies so we're still discovering new spots and things we love."

Tech Summit founder Teddy Liaw, who moved from San Francisco in February 2021, said loneliness was his biggest initial challenge. "When I came to town, I had to make friends, and I literally had three friends to begin with. And now we've got a community and a support system, emotionally and socially, as well as advice, mentorship and guidance. It's so powerful, and so the community is a lot different than it was five years ago."

Sources: Las Vegas Review-Journal