Old Downtown Truckee circa 1920's
The Town of Truckee is committed to maintaining a balanced local economy and a healthy mix of community services. The Town supports businesses and commercial activities that build upon and enhance Truckee's unique character and natural environment. This approach also best serves the local residents of this visitor-based economy. The Town has a local population of 16,180 (2010 U.S. Census), which balloons to over 45,000 during the peak summer and winter tourism seasons.
Truckee is unique in that its visitor-based economy is highly seasonal in nature, which generates large annual fluctuations in demand for goods and services and in the staffing requirements of local employers. The most recent studies show that annual retail business sales patterns reflect the highly seasonal nature of our economy: approximately 48 percent of retail sales are earned during the summer, 39 percent during the winter, and only 13 percent during the spring and fall seasons combined. This creates challenges for employers in sustaining a viable business on a year-round basis, and in managing human resources. Further, many of the jobs associated with the recreation, retail, and service employment sectors that dominate the local economy do not provide wages to accommodate local housing costs, contributing to the the growing disparity between the cost of housing and its affordability to the local workforce.
The 2025 General Plan Economic Development Element helps guide policy and decision-making as the Town moves forward with more detailed programs and actions aimed at strengthening and improving the Town's economic base. The 2009 Economic Development Strategy (see links to Volume 1 and Volume 2 below)builds on the goals, policies and actions adopted as part of the Economic Development Element.
The Town of Truckee Economic Development Strategy was accepted by Town Council at its August 6, 2009 meeting (Resolution No. 2009-35). The purpose of the updated Strategy is to:
1) Help the Council, Planning Commission and the general public to better understand the local economic development environment;
(2) Assist the Town in prioritizing and implementing local economic development programs and actions; and
(3) Qualify the Town for Community Development Block Grant funds; as the Town must update its strategy every five years to remain qualified for this funding source to be used for grants and loans.
The Strategy is presented as a two-volume report. Volume 1 (Action Plan) contains specific implementation initiatives, with recommended programs and actions, prioritized by various criteria. Volume 2 (Background Report) contains both background and more detailed demographic and economic information pertinent to the economic development initiatives being recommended by the Action Plan.
The Strategy was prepared by Bay Area Economics, with assistance from Town staff and a Council-approved 11-member Economic Development Strategy Steering Committee. The Steering Committee consisted of nine local and regional stakeholders, a Planning Commission member, and a Council member. The final Strategy includes modifications made in response to Council, Planning Commission, Steering Committee and public comments received during a Council workshop to review a draft version of the Strategy on April 21, 2009.
As a follow-up to acceptance of the Economic Development Strategy, Council directed staff to return to Council with an update on current economic development activities, and to propose a new action plan containing both current and proposed work activities. In response, staff made a commitment to present a work program to Council for acceptance on an annual basis.
The 2011 Economic Development Work Program outlines six Action Items. These Action Items contain current and proposed economic development activities to be pursued during the fiscal year. The activities are proritized to reflect both General Plan and Town Council short- and long-term goals and objectives.
If you have any questions, or would like to submit comments regarding local economic development efforts, please contact Alex Terrazas, Assistant Town Manager, at firstname.lastname@example.org or (530) 582-2914.