An initial assessment of Northern Nevada's business climate is in, and the results released Tuesday held no surprises: strong job growth, great proximity to California and a "tremendous" quality of life.
But the report said the region must also cultivate higher-paying jobs, strengthen the business-education relationships and foster entrepreneurship to keep its economy thriving.
The results were the first in an expected five reports in "Target2010," launched in December by the Economic Development Authority of Western Nevada.
The initial findings show the region operating from a position of strength, said Angelos Angelou, principal of Texas-based AngelouEconomics.
"The challenge, which it's aggressively taken on with the Target2010 project, is to shape its explosive growth by generating quality jobs and opportunities for its citizens versus quantity," Angelou said.
His consulting agency was hired by EDAWN to come up with ways the region can best grow commerce over the next five years and longer across Washoe County and beyond.
Chuck Alvey, EDAWN CEO, said that while the initial study held few surprises, it helps to crystalize the overall mission and "gets us all on the same page."
The $240,000 study, including an online survey, will provide more reports throughout the spring on such issues as branding, entrepreneurship and EDAWN's Web site with a final plan of action by mid-summer.
At EDAWN's launch of "Target2010" in December, Angelou applauded Northern Nevada for an economy that's the envy of other parts of the country.
"But many more things can be done," he said, adding the aim of Target2010 will be three to five industries to build on.
AngelouEconomics is conducting a similar study and online survey, dubbed "Northern NVision," for the Carson City-based Northern Nevada Development Authority and state and surrounding rural counties' economic development offices.