Aging boomers poised for impact

Just as they impacted our school systems during post WWII, the “baby boomer” demographic bubble is moving through our society.  Now, they are on the verge of retirement and poised for their next significant economic impact.

 

They are likely to change our view of “retirees” as they are very different from traditional retirees.  They don’t actually “retire”.  They are an active lot.  They travel, hike, bike, shop, volunteer, run cottage businesses from their homes, and have access to a lifetime of accrued and inherited wealth – which they are ready to spend.

 

Is your community well-positioned for this impending demographic phenomenon?

 

The U.S. Census Bureau projects that Tennessee’s population will increase by 30% by 2030; however, its population over 65 is expected to increase by 102% -- adding 700,000 new residents.  Similarly, Virginia’s population will increase by 39%, but its population over 65 will increase by 133% -- adding 1.05 million new residents.

 

To put it into perspective, Florida is projected to add a population that is roughly equivalent to the population of the entire State of Tennessee!!!

 

Thanks,

 

Jeff Fleming

City of Kingsport, Tennessee

423-229-9400

 

 

Table 4: Interim Projections: Change in Total Population and Population 65 and Older, by State: 2000 to 2030
State	Change in total population Number	Change in total population Percent	Change in Age 65 and older   Number	Change in Age 65 and older   Percent
United States	82,162,529	29.2	36,461,718	104.2
.Florida	12,703,391	79.5	4,961,855	176.7
.California	12,573,213	37.1	4,692,583	130.5
.Texas	12,465,924	59.8	3,113,653	150.2
.Arizona	5,581,765	108.8	1,703,515	255.1
.New York	500,972	2.6	1,468,539	60.0
.North Carolina	4,178,426	51.9	1,204,125	124.3
.Georgia	3,831,385	46.8	1,122,562	143.0
.Virginia	2,746,504	38.8	1,051,655	132.7
.Pennsylvania	487,130	4.0	970,903	50.6
.Illinois	1,013,599	8.2	912,152	60.8
.Washington	2,730,680	46.3	901,753	136.2
.Michigan	755,728	7.6	861,707	70.7
.Ohio	197,388	1.7	849,265	56.3
.New Jersey	1,388,090	16.5	846,409	76.0
.Tennessee	1,691,351	29.7	714,397	101.6
.South Carolina	1,136,557	28.3	649,126	133.7
.Maryland	1,725,765	32.6	636,388	106.2
.Wisconsin	787,089	14.7	609,672	86.8
.Massachusetts	662,912	10.4	602,948	70.1
.Minnesota	1,386,651	28.2	598,858	100.8
.Nevada	2,283,845	114.3	578,250	264.1
.Missouri	834,962	14.9	546,335	72.3
.Colorado	1,491,096	34.7	540,205	129.8
.Indiana	729,623	12.0	479,042	63.6
.Alabama	427,143	9.6	459,362	79.2
.Oregon	1,412,519	41.3	443,780	101.3
.Louisiana	333,657	7.5	427,283	82.7
.Kentucky	513,229	12.7	398,657	79.0
.New Mexico	280,662	15.4	342,959	161.6
.Connecticut	283,065	8.3	324,222	69.0
.Oklahoma	462,597	13.4	301,603	66.1
.Mississippi	247,752	8.7	290,544	84.6
.Arkansas	566,808	21.2	282,387	75.5
.Utah	1,252,198	56.1	270,331	142.1
.Kansas	251,666	9.4	236,862	66.5
.Iowa	28,848	1.0	226,973	52.0
.Idaho	675,671	52.2	215,117	147.4
.New Hampshire	410,685	33.2	204,816	138.4
.Maine	136,174	10.7	190,615	103.9
.Hawaii	254,509	21.0	166,356	103.6
.West Virginia	-88,385	-4.9	149,548	54.0
.Montana	142,703	15.8	148,609	122.9
.Nebraska	108,984	6.4	143,616	61.9
.Delaware	229,058	29.2	136,097	133.8
.Vermont	103,040	16.9	96,430	124.4
.Rhode Island	104,622	10.0	94,105	61.7
.Alaska	240,742	38.4	91,503	256.3
.Wyoming	29,197	5.9	80,893	140.2
.South Dakota	45,618	6.0	76,933	71.1
.North Dakota	-35,634	-5.5	57,880	61.3
.District of Columbia	-138,645	-24.2	-11,660	-16.7
Footnote:
U.S. Census Bureau, Population Division, Interim State Population Projections, 2005.
Internet Release Date: April 21, 2005