Seniors called boon to Nevada

Analysis shows state should work to attract more retirees

January 21, 2010 - CARSON CITY - A drive by economic development authorities to induce more senior citizens to move to Nevada could help the state recover from its worst recession in generations, an analyst told legislators Wednesday.

"We spend $80 million a year to attract people to gamble in Las Vegas," analyst Jeremy Aguero told members of the Legislature's Committee on Senior Citizens, Veterans and Adults With Special Needs. "We spend zero reminding people Nevada is a great place to retire."

Aguero, principal analyst with Applied Analysis in Las Vegas, released a report full of statistics from U.S. Census reports, University of Nevada, Las Vegas studies and other studies that show seniors create jobs, spend a lot of money and are not a drag on government services.

He said the report refutes the widely held misconception that seniors drain government services.

The median income of seniors in Nevada is $39,191, about $5,400 more than the national average. But only about 11.3 percent of people in Nevada are age 65 or older, compared to 12.6 percent nationally.

With the senior population growing nationally by 2 million people a year, Aguero said Nevada needs to compete to lure them to move here.

"Our population is getting older," said Aguero, who has done studies for the Legislature, the gaming industry, the Las Vegas Chamber of Commerce and other groups. "Seniors will choose where to retire and bring a huge amount of capital with them."

"Somebody is going to get the benefit," Aguero added. "If it is not us, it will be somebody else."

Legislators made few comments Wednesday, other than agreeing with his findings.

"I agree our senior population is a boon to our economy, especially now with so many people unemployed," said Assemblywoman Kathy McClain, D-Las Vegas, who chairs the committee. "They bring a steady income."

Contacted at his office, Michael Staggs, executive director of the state Commission on Economic Development, acknowledged nothing is spent by the state to attract seniors to move here. But he said local officials in Mesquite and Minden-Gardnerville have discussed doing just that.

Southern Nevada, because of its climate, is a more attractive area for seniors than the sometimes snowy Northern Nevada, he said.

Because of the recession and overall improved health of senior citizens, many will be working much longer than the traditional retirement age of 65, Staggs added.