Quality of Life Indicators
Economic Wellbeing
Economic Wellbeing. Economic wellbeing for the people and businesses here. A thriving economy that provides valuable jobs, income for necessities, and sufficient revenue for the public services, which create a healthy community. Strong economic resources allow individuals and families to be more self-reliant. Residents possess the skills to be successful in work.
Indicators in this category:
Indicator Sponsors:
Individual & Family Economic WellbeingThe Cost of Living Index compares living costs (such as housing, transportation, utilities, groceries and healthcare) for the typical middle-class family; keeping the cost of living close to the national average helps economic development organizations bring quality jobs to the region.
Indicator Sponsors:
Economic VitalityStrong employment growth and revitalization are signs of and contribute to a healthy economy; employment by sector indicates a diverse economy, while increased wage rates make the region more affordable for citizens to be self-sufficient.
A local employers workforce preparedness survey could measure education performance for needed workforce skills. On the other hand, a workforce survey could show if employees are able to get the necessary technological training for advancement. Although neither survey has been comprehensively conducted in northern Nevada, TMT’s December 2007 community survey attempts to address workforce development. This is a new indicator identified by the community in the 2006 update process. Data measures have been identified but few metrics are currently available.
Venture funding and other sources of capital, along with new patents, point to a supporting environment to foster start-up companies and enhance economic diversity in the region. This is a new indicator identified by the community in the 2006 update process. Data measures have been identified but there are few metrics currently available.