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| February 26, 2008: Volume 2, Issue 2 |
A Message From Bill Boyajian
This is the first and last rule of real estate. And that is the reason why we chose Las Vegas to build the World Jewelry Center. Las Vegas has very high visibility and prestige; global accessibility and transportation; labor force availability and quality; and governmental incentives and pro-business policies. Newsweek International named Las Vegas number 1 in its ranking of the world's most dynamic cities. Las Vegas attracts more conventions than any other U.S. city. This contributes to an annual visitor volume of nearly 40 million. The city's McCarran International Airport and its modern highway system easily support the travel needs of visitors from around the globe, as well as the burgeoning local population. In addition, Las Vegas boasts of state-of-the art telecommunications and information technology. Even with this growth, the leadership of Las Vegas and the state of Nevada are pursuing business diversity, and they foster a business-friendly environment. For example, there is no state income tax for individuals or corporations, and businesses do not pay tax on inventory, franchises, or gifts. Businesses participating in the World Jewelry Center will also benefit greatly from the dedicated Foreign Trade Zone, which can create enormous savings in duty fees. Somer Hollingsworth, President & CEO of the Nevada Development Authority, said, "Las Vegas is the total package for any corporation that deals in the world marketplace, and their success is priority one." If Las Vegas is the perfect city to locate our new World Jewelry Center, Union Park is the best specific location for our multi-faceted complex. Both wholesale and retail firms will benefit from a gentile location in the new tree-lined, urban, master-planned community of Union Park. Proximate to the furniture market center, the premium outlet mall, and a magnificent new performing arts center, the World Jewelry Center will be a state-of-the-art beacon of activity for importers, manufacturers and retailers. Suppliers will work in the comfort and security of the finest jewelry building in the Western Hemisphere, and consumers will shop a global array of retail merchants. The fundamentals of commercial real estate in Las Vegas are still very sound. Las Vegas will continue to grow, and the long-term prospects are very favorable, with fabulous new projects under way throughout the city. Experts in that industry are bullish on the city's future. Juan DeVarreau, CEO of Beasley & DeVarreau Sotheby's International Realty, is quoted in the Nevada Business Journal (Feb. 1) as saying, "With businesses such as ...the World Jewelry Center bringing the 'Who's Who' of executives along with them, our real estate market will be hotly desired." The World Jewelry Center presents a potential once-in-a-lifetime opportunity to locate your business in one of the most lucrative commercial markets in the world, in an exclusive and unique, continuous gem and jewelry marketplace. To date, 115 successful and visionary leaders from every segment of the industry and from 19 different countries have signed on to reserve their space. Isn't it time that you joined them? Please contact me for your appointment and presentation. Bill Boyajian |
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Las Vegas City Council Gives Final Approval to World Jewelry Center
The project's Site Development Plan had been previously approved by the City of Las Vegas Planning Commission and the Union Park Design Review Committee. In early January, the City had also approved the WJC's Disposition and Development Agreement, Owner Participation Agreement, and the related documents. "By approving the project's entitlements, Mayor Oscar Goodman and the City Council of Las Vegas have put out the welcome mat for the World Jewelry Center project and all of its participating firms," said Robert Zarnegin, President and CEO of Probity International Corporation. "We now look forward to completing our plans and obtaining our building permits." WJC Managing Director Bill Boyajian said, "The enthusiasm continues to build throughout the industry, and these final approvals from the Las Vegas City Council have cleared the path for the development of this unique project. This will be an international gem and jewelry marketplace like no other, in a destination city like no other, and now it is full speed ahead." The World Jewelry Center will be a prominent part of the master-planned community of Union Park, a 61-acre mixed-use urban development project in a strategic location, at the crossroads of two major freeways - Interstate15 and U.S. 95 - which service the greater Las Vegas area. Other key projects in Union Park include the Lou Ruvo Brain Institute, designed by the famed architect Frank Gehry; the $450-million Smith Center for the Performing Arts; and Symphony Park, a beautifully designed outdoor park next to The Smith Center. Designed by award-winning Altoon & Porter Architects, the WJC will be one of the tallest buildings in Las Vegas. Hundreds of participating firms will be taking space in the state-of-the-art office tower, designed as an international hub for gem-and-jewelry manufacturers, wholesalers, designers, and retailers. The top ten floors of the tower will be dedicated to ultra-luxury residential condominiums. With fewer than 100 residences, the condominiums will be very exclusive and will provide amenities such as room service, housekeeping, and concierge services. The residential condominiums are designed by the noted firm of Dianna Wong Architecture & Interior Design, Inc. |
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World Jewelry Center Company Profile: I Do Diamonds
Now celebrating its 8th anniversary, I Do Diamonds is located in Las Vegas. Founder and President Ido Izkovich said Las Vegas is the ideal location for his company. "Las Vegas has a nice year-round climate, it's easy to get to from anywhere, it has a huge number of international visitors every year, and it offers tax incentives that cannot be beat," he said. Izkovich said his company will grow even more by joining the World Jewelry Center. "As part of the World Jewelry Center, we will not only continue to benefit from having our North American headquarters in Las Vegas, but we will also gain access to hundreds of potential clients in a centralized marketplace, and we can take advantage of the Foreign Trade Zone and the availability of the AGS laboratory in the same building."
To provide customers a wider range of choices, I Do Diamonds has created its own unique brand - The Perfect Princess CutTM. The Perfect Princess Cut was developed to meet AGS performance-based cut grading standards, the highest standards in the industry, said Izkovich. A diamond cut for beauty and light performance, not maximum yield, The Perfect Princess CutTM will score Cut, Color, and Clarity grades from 0-3, Ideal to Very Good, respectively, as graded by the AGS laboratories, Izkovich noted. "This small sacrifice of raw material is negligible compared to the enhanced quality of The Perfect Princess CutTM and the satisfaction it brings to our clients," he said. "The Perfect Princes CutTM contains 73 facets, allowing for a remarkably high degree of light performance." WJC Managing Director Bill Boyajian said, "I Do Diamonds is a great example of the forward-looking companies that are signing on with the World Jewelry Center. As a supplier of fine diamonds, they will be perfectly positioned to benefit from on-site grading laboratories, the great savings provided by our Foreign Trade Zone, and of course, the hundreds of dealers and manufacturers located in the trade tower." Details about I Do Diamonds, the company's inventory, special selections, and complimentary Las Vegas buying trips can be found on its website, www.IDoDiamonds.net.
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WJC Website Has New Appearance, Added Features
"One new feature that we think will be especially helpful for our participating firms and others interested in the World Jewelry Center is the multilingual translation of our informational summary, which can be downloaded," said WJC Managing Director Bill Boyajian. The informational summary is available in eight languages: English, Chinese, French, German, Japanese, Portuguese, Russian, and Turkish. "Our website is a vital link between the global gem and jewelry industry and the development of the World Jewelry Center," said Boyajian. "We designed these improvements to make it easier and more interesting for both our participating firms and everyone who is interested in the World Jewelry Center to learn a lot more about the project." Other additions of interest include the WJC trade tower's stacking plans and floor plans; updated Frequently Asked Questions; location maps; WJC team-member profiles; and more information on the WJC's Foreign Trade Zone. The redesigned site also includes a variety of testimonials from both participating firms and others in the industry, as well as Upcoming Events, which lists all the trade show appearances, presentations, and other occasions involving WJC team members. |
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News from WJC Participating FirmsGemeWizard Launches Online Color Communication Application GemeWizard, a WJC participating firm, announced that it will provide an online version of its color communication application free of charge on its website, www.gemewizard.com. The company says the feature, called GemeSquare Lite, enables users to accurately describe a gemstone's color, and then transfer that information to a third party via e-mail. "Our goal is to provide anybody handling colored gemstones and fancy colored diamonds a common language by which he or she can communicate color information to colleagues, clients and suppliers," said Menahem Sevdermish, GemeWizard's founder and developer. [Source: GemeWizard.] GIA Offers Retailer Support Kit The Gemological Institute of America (GIA), a WJC participant, has begun offering a Retailer Support Kit to retail jewelers. Each new GIA Retailer Support Kit includes various tools sales associates can use to help explain essential diamond information, such as the Four Cs, to their customers. The kit can be ordered online at www.retailer.gia.edu. The kit was created to support GIA's public outreach campaign to build awareness of the GIA International Diamond Grading SystemTM and contains the following: A GIA crystal display for the jewelry case; a GIA window decal that shows the store carries GIA-graded diamonds; brochures explaining the Four Cs of Diamond Quality; give-away pocket cards (designed to hold a business card) that contain the GIA Color, Clarity, and Cut grading scales, along with Carat Weight information; a new, "How GIA Grades Diamonds" DVD to play in the store; and a counter pad that helps explain to customers how to read a GIA Diamond Grading Report. [Source: GIA.]AGS Radio Tour Provides Diamond-Buying Tips Frank Dallahan, president and CEO of the American Gem Society (AGS) Laboratories, a WJC participant, provided tips on buying diamonds during a 13-stop radio tour that included nationally syndicated programs such as USA Radio National and Good News Broadcast National, and major local markets in Florida, North Carolina, Georgia, Virginia, Minnesota, and Michigan. AGS says the total audience for the broadcasts was more than 3.5 million. The interviews can be heard at www.agslab.com/news_radio.html [Source: Diamonds.net.] |
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Las Vegas News of InterestNew Hughes Airport Center Project Under Way The Las Vegas Business Press reports that a 100,000-square-foot mixed-use business park complex is under construction at the Hughes Airport Center in Las Vegas. The 5.79-acre project, comprising both office and industrial space, is being developed by Centra Realty Corp. of Irvine, Calif., and the builder is Martin-Harris Construction. The development is called Seven Series@ Hughes Airport Center, and it features two-story buildings with large glass windows, steel awnings, and outdoor balconies. It is designed by WM Architects Nevada. The article quotes Garrett Toft, a senior associate with Voit Commercial Brokerage, which is representing the project, as saying, "This represents the first speculative for-sale office and industrial product inside Hughes Airport Center in many years." [Source: Original article, Tony Illia, Las Vegas Business Press, Feb. 19] Palazzo Resort Opens for Business The Palazzo, a new 50-story, 3,000-suite resort on the Las Vegas strip, close to The Venetian and the Wynn, has opened for business. An article in In Business Las Vegas, says The Palazzo is now Nevada's second-tallest building, and that the new resort actually opened its doors in late December. Company officials, however, scheduled a separate grand opening, which included a fireworks display, the debut of a new retail component (Barney's New York), and the introduction of four celebrity chefs and their restaurants - Mario Batali, Emeril Lagasse, Wolfgang Puck, and Charlie Trotter, who were also on hand for the opening event, which included a concert featuring Motown great Diana Ross. The Palazzo has a 105,000-square-foot casino and a combination sports club and nightclub called 40/40 Club, owned by hip-hop artist Jay-Z. [Source: Original article, Richard N. Velotta, In Business Las Vegas, Jan. 25 - 31.] |
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UNION PARK - 2007 YEAR IN REVIEW VEGAS RETAIL ON A ROLL DEAL WITH SKY HIGH POTENTIAL: ANALYSTS SEE POSSIBILITIES IN LAND ACQUIRED WITH TOWER |
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| If you would like further information about the World Jewelry Center please visit us at WORLDJEWELRYCENTER.COM or contact: |
Bill Boyajian Jerry Buckley Newsletter and Media Inquiries |
Jane Lynch-Rush Robin Bartolo General Inquiries |
Location... Location... Location.
The Las Vegas City Council has unanimously approved the World Jewelry Center's Site Development Plan and Special Use Permit, thus giving the developer, Probity International Corporation, all the entitlements necessary to proceed with the project. The action occurred at the Council's February 6 meeting.
I Do Diamonds, a World Jewelry Center participating firm, is a direct importer of ideal- and premium-cut loose diamonds, and an American Gem SocietyTM supplier to the trade.
I Do Diamonds also sponsors buying trips to Las Vegas. "By sponsoring complimentary buying trips to Las Vegas, we give our clients an opportunity to mix business with pleasure, while they choose their diamonds from our extensive inventory. We also have a gemological laboratory on the premises, enabling everything related to the client's diamond evaluation and purchasing experience to be handled in the same location."
Visitors to the World Jewelry Center Website are now welcomed with a completely redesigned appearance, improved navigation, new graphics, and more features and information.
