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Creating Economic Prosperity A collaborative economic development initiative led by the

Creating Economic Prosperity A collaborative economic development initiative led by the Truckee Donner Chamber of Commerce in partnership with the Town of Truckee, the Truckee Downtown Merchants Association, and Nevada County Nevada County – FINAL REPORT Presented July 17, 2012. Background

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Creating Economic Prosperity A collaborative economic development initiative led by the

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  1. Creating Economic Prosperity A collaborative economic development initiative led by the Truckee Donner Chamber of Commerce in partnership with the Town of Truckee, the Truckee Downtown Merchants Association, and Nevada County Nevada County – FINAL REPORT Presented July 17, 2012

  2. Background November 2010: 37 community leaders brought together for a series of four facilitated meetings Identify economic opportunities and challenges, and determine implementable projects – keeping both short and long term in mind

  3. Priorities Identified: Downtown Truckee improvements Enhanced marketing of Truckee Business retention and recruitment Transportation

  4. Four Priority Projects

  5. Business Retention / Recruitment FY11/12 Nevada County Contract: Focused primarily on small business and entrepreneur support and development

  6. Business Retention / Recruitment • It is estimated 80 percent of the opportunities for new jobs comes from businesses already in the community • Local businesses have strong community ties, reducing the risk of leaving

  7. Business Retention / Recruitment • Goal of Coffee Connection meetings is to understand business retention needs

  8. Business Retention / Recruitment • Learn about issues business owners are facing • Strengthen relationships • Thank for investment

  9. Business Retention / Recruitment • Have met with 20 businesses to date • Understand businesses better, emerging trends, expansion plans and more

  10. Business Retention / Recruitment • Business retention efforts include: • Networking opportunities for entrepreneurs • Technical assistance and training opportunities • Business support programs and services such as One-Stop Business & Career Center and SBDC

  11. Business Retention / Recruitment • Town Small Business Start-up Program • Small Business Loans, Historic Preservation Loans, Downtown Streetscape Loans, First Time Homebuyers Loans - all eliminated with death of redevelopment • Streamlined tenant improvement permits for new businesses

  12. Business Retention / Recruitment • Truckee Tomorrow joined SACTO (Sacramento Area Commerce & Trade Organization) • Jump start of economic development efforts • Gain access to research and develop strategies

  13. Business Retention / Recruitment • Creation of Truckee Tomorrow 2012/13 Action Plan • Work with Center for Strategic Economic Research (CSER), research partner for SACTO • More clearly identify viable economic development strategies • Facilitate group prioritization strategies • Build implementation plan for the strategies

  14. Business Retention / Recruitment • With CSER as facilitator: • Reconvene original stakeholder group – review, expand, revise priorities • Identify five prioritized strategies for Action Plan development • Identify responsible parties and estimate potential resource requirements • Timelines and performance measures • Implementation plan

  15. Four Priority Projects

  16. Downtown Truckee Improvements • Establish Downtown Truckee as the premier visitor destination in region • Provide facilities, gathering places and amenities that regularly attract locals and visitors to Downtown Truckee • Enhance parking and pedestrian experience in Downtown Truckee

  17. Downtown Truckee Improvements • Over $2.5 million invested downtown in 2010 and 2011 has made Truckee more pedestrian friendly and provide gathering places Improvement Projects: * Depot Streetscape Improvement * Sidewalk from McIver Roundabout to Gateway * Bridge Street Streetscape * Carmel Gallery Streetscape

  18. Donner Pass Roada public/private partnership

  19. Bridge Street Projecta public/private partnership

  20. Truckee Depot Improvement Project

  21. The State has eliminated Redevelopment – now what? • Funding source for all of the above was the Truckee Redevelopment Agency • State recently eliminated redevelopment as a budget balancing measure • Town must “wind down” agency • Still have $6 million in bond proceeds to invest downtown.

  22. Four Priority Projects

  23. Enhanced Marketing of Truckee • Develop Truckee “Brand” and build marketing strategy around it • Increase number of Truckee visitors, with focus on lengthening duration of their stay • Expand awareness of Truckee’s unique attributes including downtown, dining, recreation, ease of access, quality of life

  24. Enhanced Marketing of Truckee • Used Amgen Tour of California to “kick start” co-op marketing efforts • Participated regionally as Official Local Supporter • Partnered with TDMA on Amgen-tour related marketing activities

  25. Enhanced Marketing of Truckee • Continued dialogue with North Lake Tahoe Chamber/CVB/Resort Association about opportunities to partner • IRONMAN Lake Tahoe Sept 22, 2013

  26. Enhanced Marketing of Truckee • IRONMAN Lake Tahoe: • 3 year commitment; option to renew for 2 years • Will bring 7,500 visitors to the region (2,500 competitors) • Generate 1500 room nights • Economic impact estimated at $8-15 (million) • Desirable demographic ($170,000 annual income; age around 40)

  27. Enhanced Marketing of Truckee • Truckee Best Mountain Town by Men’s Journal

  28. Enhanced Marketing of Truckee • Truckee Best Summer Lake Town by msnbc.com

  29. Enhanced Marketing of Truckee • Truckee recently named as one of World’s 25 Best Ski Towns by National Geographic

  30. Enhanced Marketing of Truckee • Truckee Thursdays breaking records with over 3,000 people in attendance each week

  31. Enhanced Marketing of Truckee Truckee Thursdays

  32. Four Priority Projects

  33. Transportation • Efforts: • Analyze existing reports and regional transportation plans • Compared our region to peer mountain community transportation systems • Discussed potential funding sources to enhance regional transportation

  34. Transportation • Developed a pilot Free Ski Shuttle program • Originally planned for MLK and President’s Day Weekends • Goal to collect data and survey riders • Long term vision to create a free, user-friendly regional transportation system

  35. Transportation • Continuing work on creation of a regional transportation system

  36. Thank you for your partnership inTruckee Tomorrow!

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