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Economic director: Caldwell imports $101 million in retail spending, city needs capture strategy
Summary
Economic development director Dan Torres told council Caldwell has roughly 30,579 jobs and about $101,000,000 in retail spending that occurs outside the city; he recommended a strategic plan, use of tools like urban renewal, and targeting aviation, food/ag, advanced manufacturing and downtown assets.
Dan Torres, Caldwell’s economic development director, presented his first monthly update and urged the council to pursue a data-driven economic development strategy. He said the inflow-outflow analysis indicates about 30,579 jobs located in Caldwell and estimated roughly $101,000,000 in spending by residents outside the city that could be captured through targeted commercial development. “I would say it was a breath of fresh air,” Torres said of early developer outreach, while acknowledging confidentiality constraints on some project details.
Torres outlined next steps: building an economic-development toolkit, refining a strategic plan to prioritize sectors (aviation, food and agriculture, advanced manufacturing, health care, higher education and downtown-serving retail) and coordinating with the Caldwell Urban Renewal Agency. Councilors asked for follow-up research on tax-base impacts, the relative value of commercial versus residential growth, and potential target corridors (Ustick interchange, northern urban-renewal district); Torres offered to provide additional analysis to inform budget and policy choices.
