Elko's economy is based heavily on gold mining, with ranching, tourism and the casino industry providing additional jobs. The city is considered the capital of Nevada's goldbelt. The state of Nevada produces more gold than all but four countries, and most of the gold from Nevada is mined near Elko. This has caused the town to have a boom and bust economy consistent with the rises and declines in the price of gold. The town is surrounded by hundreds of abandoned mining camps, and viewing them is a popular local activity. A gold boom in the 1980s that ended in a bust in the late 1990s left the town with large numbers of abandoned homes and left the local governments struggling to survive on reduced tax revenues. With a new gold boom starting in 2009, city officials have been reluctant to hire new employees and have decided to build a reserve in the city budget to prepare for the next bust.
Elko's economy is based heavily on gold mining, with ranching, tourism and the casino industry providing additional jobs. The city is considered the capital of Nevada's goldbelt. The state of Nevada produces more gold than all but four countries, and most of the gold from Nevada is mined near Elko. This has caused the town to have a boom and bust economy consistent with the rises and declines in the price of gold. The town is surrounded by hundreds of abandoned mining camps, and viewi!ng them is a popular local activity. A gold boom in the 1980s that ended in a bust in the late 1990s left the town with large numbers of abandoned homes and left the local governments struggling to survive on reduced tax revenues. With a new gold boom starting in 2009, city officials have been reluctant to hire new employees and have decided to build a reserve in the city budget to prepare for the next bust.