Don’t overlook Yuba County.
Situated about two hours each from two Northern California destination spots – San Francisco to the west and Lake Tahoe to the east – the county has plenty to offer to both residents and visitors alike, as evidenced by its steady population increase for more than a decade. That growth is expected to continue in the coming years – and the county is poised to serve as a blueprint for economic and community prosperity for the rest of the state.
The draws are obvious. Yuba County presents the perfect bucolic getaway with its unique and breathtaking natural beauty, scenic rivers, outdoor activities, and rich gold rush history. Tourists can also enjoy themselves at the Hard Rock Hotel & Casino, Marysville Drakes professional baseball games and with top concerts at the Toyota Amphitheatre.
But in regions such as Plumas Lake, residents and tourists looking for more amenities and retail and hospitality options must travel outside the area – which is why our company, in partnership with the American Hospitality group, chose this location for our much-anticipated retail development project on NEC Feather River & Chalice Creek.
As communities such as Plumas Lake grow, it’s critical that local and new businesses grow along with it, contributing to its local economy, creating more jobs, and helping the environment by eliminating the need to travel to neighboring and not-so-neighboring cities for retail, dining and lodging choices.
Adding to the community’s diverse choices of activities makes the county a prime spot for growth.
The Yuba County Economic Forecast paints a bright future. The 2022 report is predicting continued steady growth through 2027, mirroring the county’s recent history. Between 2010 and 2022, the county grew by an average of 1.3% per year – with a spike of 4.4% during the pre-pandemic year between 2019 and 2020. Its population now stands at more than 84,000, compared to 72,000 in 2010.
Yuba County proved its resiliency over the last few years. According to the county forecast, “The pandemic lockdowns and business restrictions that characterized much of 2020 and the first half of the 2021 had very little effect on Yuba County. Consequently, the Yuba labor market was one of the first counties in California to recover from the recession.”
The county forecast predicts continued prosperity, with job growth – led by the healthcare sector – averaging 1.6% through 2026. Employment in leisure and hospitality, government, and construction are also expected to be strong.
Despite a 15% increase in home prices in 2021, the median home value of $384,500 in Yuba County is much more affordable than homes in many other parts of California. For example, the typical household spends just 20% of its income on housing costs, whereas in Coastal California, households often spend 35-50% on mortgage payments or rent. It stands to reason that this will continue to attract new residents to the region, which, in turn, will contribute to the economic and population growth of the county.
It’s easy to focus on headlines from major cities across the country that have been struggling to recover from the pandemic. But what many people may be overlooking are the smaller communities, where communities are not only coming back, but are ripe with opportunities for new businesses and industries to serve growing populations and tourists.
Yuba County is one of those places that demands our attention.
Akki Patel was inspired to launch his own career as an entrepreneur at just 20 years old, when he became the owner of his first restaurant and launched LRE & Companies in 1999. Patel holds an accounting and finance degree from the University of San Diego and is an active member of the Young Presidents Organization as well as several other business advisory boards. Patel writes about business trends and outlooks at AkkiPatel.net. He also serves on the Dignity Moves Advisory Board.