The Eureka County Economy (Continued)

Taxable Sales
Total taxable sales in Eureka County declined by 18.8% over the ten-year period between fiscal year 1995-96 and fiscal year 2004-05. The lowest point in this decline was reached in FY 2001-2002. Since then taxable sales have increased in many sectors, led by mining, which remains by far the county's largest generator of taxable sales. In 2004-2005, metal mining made up 49.6% of the county's taxable sales. Other top sectors in the county include wholesale trade/durable goods, industrial and commercial machinery, chemical products, and business services.

Of the largest generators of taxable sales in Eureka County, those with an overall increase in taxable sales over the ten -year period were metal mining, chemicals and allied products, business services, miscellaneous repair services, business services, and automotive repair and services. Taxable sales in wholesale trade, automotive dealers and gasoline, miscellaneous retail, building materials and hardware declined over the ten-year period.


Travel, Tourism and Economic Development
The Eureka Sentinel Museum is located in the 1879 Eureka Sentinel Newspaper Building, site of the town's longest running newspaper. The museum displays artifacts from Eureka's 1870s mining era and contains a complete nineteenth century press room. The ground floor of the building was made into a county historical museum in 1982, and in the year 2000 the museum expanded to include both floors of the building. The museum is open seven days a week from May through October. Visitation to the museum has been increasing over the two decades since its opening, but not steadily. Visitation to the museum reached a high of 5,083 visitors in 1995, then declined in subsequent years.

The museum is an important part of Eureka's historical and architectural heritage, and as such serves as an indicator of the potential for development of historical tourism in the region. Visitation to the museum also is a rough indicator of the current level of tourism in the town. The museum is within the Eureka Historic District, designated in 1973. Also in the historic district is the Eureka Opera House, built in 1880 and restored in 1994.

Eureka County continues to pursue diversified economic development. In Eureka County's 2005 Comprehensive Annual Report this effort is summarized as follows: "The County continues to look to other industries such as tourism and agriculture for possible economic development. With the preservation of many historic buildings, the County hopes tourism will be enhanced. The County is still providing the community with internet access and a county web page is available at www.co.eureka.nv.us." The County is currently developing wireless broadband access that will be available to county businesses and residents

Three other measures of county economic activity are room tax, gaming license collections and real estate sales. Eureka County's 2005 Comprehensive Annual Financial report shows that Eureka County has 88 motel rooms, 8 eating establishments, 5 gaming and entertainment establishments, and 3 RV parks.

Room tax collections climbed until 2002, but dropped by 15% between 2002 and 2003. Between 2003 and 2004 room tax collections rose again by 19%, then dropped slightly between 2004 and 2005.

Gaming license collections have remained steady, albeit with a large jump in collections in 2001. In August, 2006, real estate agents with multiple listing services who served Eureka County reported no land or houses for sale in Eureka County. This tight market may reflect high demand for county housing as the Ruby Hill/Archimedes Mine hires and starts production.

Transportation
U.S. Highway 50 serves central and southern Eureka County, accommodating not only local traffic, but long-distance travel through central Nevada. State Route 278, the Eureka-Carlin Road, serves as a link between northern and southern Eureka County, as well as access to Interstate Highway 80 and the town of Elko. State Route 306 provides access to Crescent Valley. Interstate 80, in the northern section of the county, is one of the nation's principle interstate highways.

The line graph and chart links below show that average daily traffic on U.S. Highway 50 increased annually until 1999, decreased in 2000, increased again in subsequent years, then decreased significantly in 2004. Traffic on SR 278 increased to 2001, then decreased again by 2004.. Average daily traffic on Interstate 80 grew until 2000, then diminshed somewhat in subsequent years. U.S. Highway 50 receives locally generated traffic in Eureka town, with average daily traffic counts over twice the amount as that measured at the traffic recorder located on the more rural segment of the highway to the west of the town. The traffic counts on the rural section of the highway therefore more closely represent through traffic on U.S. Highway 50. Since this traffic count would include recreationists, tourists, and other travelers, this traffic count is a measure both of any success in previous economic development efforts targeting out-of-area visitors, as well as one estimate of the size of market for any potential visitor-or-tourism-related economic development efforts. In comparison to other rural principal arterials in Nevada, U.S. Highway 50 in the Eureka vicinity receives a mid-range of traffic. The chart below shows traffic counts on selected sections of other rural Nevada arterials.

References: The Eureka County Economy

1. Eureka County Employment

Regional Economic Accounts. U.S. Department of Commerce, Bureau of Economic Analysis
Reference 1
Reference 2

QWI Nevada County Pivot Reports, Eureka - Quarterly Workforce Indicators. Last revised June 19, 2006. U.S. Census Bureau, Local Employment Dynamics, QWI Online (NAICS), LEHD State of Nevada County Reports - (Selected: Year, industry, Total Employement, years 2001-2005). 31 July 2006. http://lehd.dsd.census.gov/led/datatools/qwiapp.html

Quarterly Census of Employment and Wages, Eureka County, Years 2002-2005. Nevada Department of Employment Training and Rehabilitation, Nevada Workplace Informer, Annual, NAICS. http://www.nevadaworkforce.com/cgi/dataanalysis/?PAGEID=94>

Quarterly Employment and Wages, Eureka County, 2002-2005. Nevada Department of Employment Training and Rehabilitation, Nevada Workplace Informer, Data Analysis. http://www.nevadaworkforce.com/


2. Labor Force Data & Resident Labor Force vs. Jobs in Eureka County

Employment, Labor Force, Unemployment, Unemployment Rate, Eureka County, Annual, 2002-2006. Nevada Department of Employment Training and Rehabilitation (DETR), Information Development & Processing Division, Research & Analysis Bureau, "Nevada Workforce Informer" web page. http://www.nevadaworkforce.com/

Unemployment Rate, United States and Nevada, Annual, 2002-2006. Nevada Department of Employment Training and Rehabilitation (DETR), Information Development & Processing Division, Research & Analysis Bureau, "Nevada Workforce Informer" web page. http://www.nevadaworkforce.com/

Labor Force Eureka County 1993-2006. Nevada Department of Employment, Training & Rehabilitation, Nevada Workforce Informer, Data Analysis, Labor Force and Unemployment. 1 August 2006. http://www.nevadaworkforce.com/cgi/dataanalysis/?PAGEID=94

Total Full Time and Part Time Employment by Industry, Eureka, NV. 25 April 2006. U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Accounts, Annual Estimates for Counties, Interactive Tables. 1 August 2006. http://www.bea.gov/bea/regional/data.htm


3. Commuting Patterns in Eureka County

Historical Data for Commuting Patterns in Eureka County. Nevada Department of Employment, Training & Rehabilitation, (updated every 10 years)

Nevada Workforce Informer, Workforce Info, Eureka County Profile. 1 August 2006. http://www.nevadaworkforce.com/cgi/dataanalysis/?PAGEID=94&SUBID=115


4. Eureka County Components of Personal Income & Per Capita Income

Personal Income by Major Source and Earning by Industry. 25 April 2006. U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Accounts. 1 August 2006. http://www.bea.gov/bea/regional/data.htm


5. Eureka County Median Household Income

Median Household Income, Eureka County, NV. Nevada Department of Employment, Training & Rehabilitation, Nevada Workforce Informer, Workforce Info, Eureka County Profile. 17 August 2006. http://www.nevadaworkforce.com/cgi/dataanalysis/


6. Gold Mining Profile

The Nevada Mineral Industry, 2004 & 2005. Nevada Bureau of Mines and Geology, Special Publication MI-2004. David A. Davis. 2 August 2006

Net Proceeds of Materials Bulletin, 2004 & 2003. 20 April 2006. Nevada Department of Taxation. 2 August 2006.
Reference 1
Reference 2

Investing in the 21st Century (2005 Annual Report) Newmont Mining Corporation

Barrick Gold Corporation — Global Operations, North America, Goldstrike, East Archimedes


7. Other Minerals and Energy Resources

The Nevada Mineral Industry 2004, Nevada Bureau of Mines and Geology Special Publication MI-2004

Nevada Geothermal Power Plants, May 5, 2006, Nevada Division of Minerals
Nevada Geothermal Update, August 2006 Nevada Division of Minerals


Nevada Geothermal Resources (map) Shevenell, Lisa, Larry Garside and Ronald H. Hesse, Nevada Bureau of Mines and Geology, 2000

IGMI Projects information, Mount Hope, Idaho General Mines, Inc,


8. Eureka County Agricultural Statistics

2002, 1997 & 1992 Census of Agriculture. 20 March 2006. U.S. Department of Agriculture, National Agriculture Statistics Service. 2 August 2006
Reference 1
Reference 2


9. Eureka County Taxable Sales

Combined Sales/Use Tax Statistical Report, FY97-FY05. June 2005. Nevada Department of Taxation, Department of Taxation Publications, Annual Taxable Sales Statistics. 2 August 2006


10. Eureka Sentinel Museum Visitors

Source: Colleen Nielsen, Director, and Ree Taylor, Museum Manager. Eureka Sentinel Museum


11. Room Tax and Gaming Tax Collections

Comprehensive Annual Financial Report, County of Eureka, State of Nevada 2003-2005. 30 June 2003. 30 June 2004. 30 June 2005. Mike Rebaleati, Eureka County Recorder/Auditor Department.


12. Annual Average Daily Traffic Counts on Selected Eureka County Roads & Traffic Counts on Selected Rural Nevada Arterials

2004 Annual Traffic Report. Nevada Department of Transportation, Reports and Publications, Annual Traffic Report. Jeff Fontaine, P.E., Director of the Nevada Department of Transportation. 2 August 2006


 

The Eureka County Economy
Eureka County, Nevada
Socioeconomic Conditions and Trends Update
October, 2006

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