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

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

Four Priority Projects Business Retention & Recruitment Enhanced Marketing of Truckee Downtown Truckee Improvements Transportation

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

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

Business Retention / Recruitment  Goal of Coffee Connection meetings is to understand business retention needs

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

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

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

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 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 Streamlined tenant improvement permits for new businesses

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

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

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

Four Priority Projects Business Retention & Recruitment Enhanced Marketing of Truckee Downtown Truckee Improvements Transportation

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

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

Donner Pass Road a public/private partnership

Bridge Street Project a public/private partnership

Truckee Depot Improvement Project

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.

Four Priority Projects Business Retention & Recruitment Enhanced Marketing of Truckee Downtown Truckee Improvements Transportation

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

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

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

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

Enhanced Marketing of Truckee  Truckee Best Mountain Town by Men’s Journal

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

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

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

Enhanced Marketing of Truckee Truckee Thursdays

Four Priority Projects Business Retention & Recruitment Enhanced Marketing of Truckee Downtown Truckee Improvements Transportation

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

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

Transportation  Continuing work on creation of a regional transportation system

Thank you for your partnership in Truckee Tomorrow! Thank you for your partnership in Truckee Tomorrow!