The Nevada County Economic Resource Council hosted a successful economic development summit Thursday in Grass Valley. Winning The Job Wars: The Sierra Foothills Road map to Success focused on job creation and business development strategies for Nevada County.Keynote speaker Joel Kotkin presented some interesting demographic data that is in favor of Nevada County.
Kotkin, an internationally recognized authority on global,economic, political and social trends refers to two age group characteristics that focus on baby boomers and their parents- The young-old and the old-old, but it depends on a number of factors, not just age.
The young-old are still producing income and are looking for lifestyle changes. The old-old are likely retired and have amassed equity in property and assets, but are looking for a more affordable place than San Francisco or other cities. A generation that follows- The Millennial are approaching their 30’s and are at a place in their lives when they want to leave the bigger cities and move to more rural areas, but maintain professional ties in the larger urban areas.
Kotkin says the old-old population are already coming to Nevada County.
In order to attract a productive workforce and economic contributors, Kotkin suggests reaching out to people with ties to the community.
Kotkin says that Nevada County is on the right track with the Digital Media focused sector but also sees other opportunities to attract a workforce.
According to Kotkin, economically, it is better to focus on strengths and not try to be something else.
Kotkin was followed by a panel of four economic development specialists from cities that have similar profiles as Nevada County, and have successfully developed a growing economy.