ECONOMIC IMPACTS OF IN-MIGRATING RETIREES ON LOCAL ECONOMIES

Abstract

There is growing interest in the economic impact of retiree's consumption expenditures on the output, income, and employment of local and state economies. The purpose of the study is to present, analyze, and compare the economic impact of increased elderly in-migrant spending in nine counties in Arkansas, Oklahoma, and Texas. The economic impacts are calculated using an input-output model and survey data collected on elderly in-migrant spending in the nine counties. Although all nine counties experienced a substantial benefit from in-migrant spending, the benefit varied substantially among counties. The number of new jobs created in the county of residence as a result of retiree spending was estimated to range from one-half to one job per household. This is consistent with the findings of similar studies of the economic impact of retirees.

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