A modern-day Gold Rush is reshaping Sacramento, changing the Downtown landscape and offering new opportunities for companies, investors, job seekers, and residents.
Sacramento's New Gold Rush
From its Gold Rush roots to the development of the Transcontinental Railroad, Sacramento has long served as the heartbeat of the region. With the growth of the surrounding region - and the proliferation of suburban sprawl - in previous decades, however, Downtown Sacramento's vitality and strength began to wane.
Today, Downtown Sacramento is experiencing a resurgence.
It's a new Gold Rush era, ushering in exciting new housing, commercial, cultural and entertainment projects, and flourishing industries - bringing jobs, homes, and new opportunities Downtown.
There's a building boom in Sacramento as the City tries to meet the region's demand for housing. Sacramento is growing faster than the rest of California, with a 1.49% population increase from 2018 to 2019.
Approximately two dozen major emerging projects are underway in Sacramento right now, including a mixed-use residential project in the Sacramento Railyards consisting of 277 planned residential units - a mix of studios, one-bedroom, and two-bedroom units - with another 5,000 square feet of ground-floor retail.
Employment and Investment
Businesses are finding Sacramento a highly desirable location.
Kaiser Permanente has invested heavily in Sacramento, opening a Sports Medicine Center in the Golden 1 Center in 2016, a medical center on J Street in 2018, and purchasing 18-acres for a state-of-the-art Medical Center in The Railyards.
Kaiser isn't the only business opportunity in The Railyards 244-acre infill development area; two six-story office and retail buildings are underway to bring retail, restaurant, and office space to business owners who want to make their mark in Sacramento's most-anticipated development areas.
Outside of The Railyards, Centene Corp., a Fortune 100 company based in St. Louis, announced Sacramento was a natural fit for a headquarters that will employe thousands - pledging to add 2,000 additional new jobs in its new Natomas campus.
While it may be known as a government city, Sacramento is home to many established and growing business sectors providing new business and employment opportunities.
Sacramento's key industries include:
Other flourishing industries in Sacramento include advanced manufacturing, business services, government, retail, and entertainment and tourism.
Speaking of tourism...
Sacramento's cultural and entertainment treasures are a big draw for visitors and residents alike - and a big economic boost for the City, as well.
Historic Old Sacramento brings in over 2 million annual visitors.
Downtown Sacramento brings in over 175,000 conventioneers and thousands of spectators - and well over $50 million each year from entertainment and tourism.
In its inaugural year, the Golden 1 Center hosted more than 350 events, drawing in more than 1.6 million spectators who spent more than $71 million in the Downtown Sacramento area.
The City of Sacramento is investing in more entertainment and attractions to bring in more tourism and event dollars. In 2019, the Mayor announced a $42-million plan to reinvigorate the Old Sacramento Waterfront.
The Mayor's office is also working tirelessly with Republic FC officials to bring a privately funded Major League Soccer stadium to The Railyards.
A Golden Opportunity: Sacramento Railyards
In its early days, Sacramento's waterfront location ushered in new opportunities for fortune seekers. Now, nearly two centuries later, the same waterfront is providing a new Gold Rush for entrepreneurs, business owners, and would-be residents and workers in The Sacramento Railyards development.
A number of projects are currently planned or underway in The Railyards, including the Kaiser Medical Center, proposed MLS stadium, residential and commercial projects.
When complete, The Railyards area will essentially double the size of Downtown Sacramento. Residents, workers, owners, and visitors will be able to easily traverse between DOCO and The Railyards districts just a few blocks away.
Just like the original Gold Rush significantly altered the shape of Sacramento, today's new Gold Rush is providing opportunities by way of The Railyards and other significant developments.
Sacramento's future looks golden.