|
|
DEMOGRAPHICS
Elko is the largest city in the Northeastern Nevada and is quickly becoming one of Nevada’s fastest growing areas. The City of Elko has been labeled “Nevada’s Top Micropolis.” The region’s economic base consists of gold mining, mining support industries, transportation, small manufacturing, cattle ranching, gaming, tourism, outdoor recreation, federal, state, county and city governments, and a large retail and service industry.
Mining is the region’s major industry. Currently there are more than 9,000 mining related jobs in Elko’s primary trade area, with employees earning average incomes of $68,000/yr. There is expected to be an estimated 900 additional mining jobs created in 2008-10. The primary trade area of Elko is comprised of approximately 84,255 residents, which consists of ± 40,000 residents within Elko and neighboring Spring Creek Valley. Average Household income in the trade area is approximately $66,318.
The demographic profile for the City of Elko consists of upper-middle-class families who live in spacious homes with numerous children and a strong sense of community. Families with disposable incomes drive the purchasing power and demand for the latest technology, soft goods, and sporting goods and equipment. Highly unique to this area, the Elko customer will purchase virtually every piece of sporting equipment on the market. A vast opportunity for new retail exists as “ supply does not meet demand” for the residents in this growing region.
Resources, including plenty of water and affordable power, are located within Elko City limits. Plentiful water makes the Elko area a great site for any company needing large amounts of water for the production of their products. The City of Elko is a regional retail and service hub for Northeastern Nevada, with a modern commercial airport, new and modern regional hospital and Great Basin College (approximately ±3,800 students). Elko’s skilled workforce is an attraction for new industry. Great Basin College is capable of providing special skills training for any type of industry.
In 2006, Elko County began working on the new Northeastern Nevada Regional Railport and Industrial Park. The facility is a 60-acre multi model transload facility and 4480-acre industrial park.
In summary, the residents of Elko and neighboring Spring Creek Valley are primarily married with children, enjoy a strong sense of community, and have access to quality
education and healthcare. The area is also undergoing strong economic expansion. All of these are major factors driving growth and the need for additional retail in the City of Elko.
|
