Influence of Retirement In-Migration on Local Economic Development

摘要

After sampling retirees in 814 households, all of whom were in-migrants to western North Carolina, the report concludes that none of the measured impacts on the host areas were adverse and virtually all are positive. Retirees' intent is to remain in the area permanently and their concern about their new home is shown by their voting record. Of those eligible, almost 94 percent vote in local elections; 82 percent voted to support a local school bond issue. Three quarters spend an average of more than 7 hours a week on volunteer activities. Each retiree household spent, on average, $332 per week in the local area, and they made other major purchases that averaged over $2,100 per year. Records supplied by 630 households show an aggregate local direct expenditure of over $22.5 million, which is estimated to lead to close to 1,000 jobs. The retirees make substantial annual expenditures for health care, enough to maintain two physicians in practice. They spend about $1.4 million for health care services, 95 percent of which comes from out-of-state sources or from their own pockets. Savings and investment reports from 490 households revealed that these households kept about $14 million in local or state financial institutions and that they invested over $1.5 million in local business partnerships.