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Migrating Retirees: A Source for Economic Development

Author

Listed:
  • Mark Fagan

    (Jacksonville State University)

  • Charles F. Longino Jr.

    (Wake Forest University)

Abstract

Communities depending solely on recruiting manufacturing industries for economic growth and development might be missing opportunities to better succeed with their efforts. Also, with all of the competition among communities for the relocation of these plants, the odds of success for many communities are low. Many smaller communities cannot compete in this strategy but have the necessary infrastructure for an overlooked strategy: attracting retirees. Older amenity and return migrants have high recession proof incomes (largely discretionary), and substantial financial assets that they transfer to their community of relocation. Their demand for goods and services stimulates the following industries: real estate, financial, health care, recreational, utilities, insurance, and retail. The community economic impact of these in-migrants is shown to be extremely positive.

Suggested Citation

  • Mark Fagan & Charles F. Longino Jr., 1993. "Migrating Retirees: A Source for Economic Development," Economic Development Quarterly, , vol. 7(1), pages 98-106, February.
    • Handle: RePEc:sae:ecdequ:v:7:y:1993:i:1:p:98-106
    DOI: 10.1177/089124249300700109
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    Cited by:

    1. Poudyal, Neelam C. & Hodges, Donald G. & Cordell, H. Ken, 2008. "The role of natural resource amenities in attracting retirees: Implications for economic growth policy," Ecological Economics, Elsevier, vol. 68(1-2), pages 240-248, December.
    2. Reeder, Richard J., 1998. "Retiree-Attraction Policies for Rural Development," Agricultural Information Bulletins 33667, United States Department of Agriculture, Economic Research Service.
    3. Martin Shields & Judith I. Stallmann & Steven C. Deller, 1999. "Simulating the Economic and Fiscal Impacts of High- and Low-Income Elderly on a Small Rural Region," The Review of Regional Studies, Southern Regional Science Association, vol. 29(2), pages 175-196, Fall.

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