In the News -
November 2007
Retiree Attraction a Viable Economic Development Strategy
CHEROKEE VILLAGE, Ark. - The ties between tourism and retirees are strong, as
are the links between the movement of retirees into the community and job
development, says Dr. Wayne Miller, professor of economic development with the
University of Arkansas Cooperative Extension Service.
Miller spoke at "Enhancing the Local Economy Through Retiree Attraction," a
seminar held here Oct. 26. The seminar was sponsored by Sharp County Economic
Development and the North Central Arkansas Economic Development Corporation
(NCARED), in cooperation with the Cooperative Extension Service.
"There is a close tie between tourism and retirees coming here," Miller said.
"If tourists are treated well, they are most likely to come back."
Miller said "there is a positive economic impact of retirees on the local
community." While impact will vary in each community and the income of the
retirees, Miller said a retiree household in the first year will generate from 1
to 1.5 additional jobs, and about two-thirds of a job per year after the first
year.
Based on his research on the impact of retirees in Arkansas, Miller said: "We
found in almost every case that the community benefits economically from
retirees, especially the school districts."
There are other advantages to attracting retirees, Miller said.
"Retirees do not pollute the environment, they add to the tax base, and they
complement other economic bases in the community," he said.
"To be successful in attracting retirees, you need to identify what you have
to offer, decide who you want to attract, and create an image and marketing
program to attract your target markets. If you just sit back and take whoever happens to drive by, they are
less likely to support your community," Miller said.
The seminar included a panel of local leaders with direct experience with
retirees.
"Think how much impact we could have if the four communities in Sharp County
worked together to market the area," said Ron Rhodes, a realtor. "We have the
power and resources if we will just work together. That’s what NCARED is trying
to do - to bring people together."
"We often don’t tell people what we have; we have a lot of activities if
people want to become involved," said Linda Hall, a resident of Sharp County.
"If they are involved in our community, they will stay. We have come a long way;
we now have a college here. We have good leaders here - people who see the big
picture. We are going to need to see what we can do to attract people and find
places where they can become involved."
"A few years ago, we had 98 organizations that serve Cherokee Village," said
Oral Henderson. "If people who live in this area can’t find something to do, it
is because they don’t want something to do. My priorities are four lanes for
Highway 412, a hospital with an emergency room, and an assisted living
community."
The Attracting Retirees Workshop was followed by a Sharp County Economic
Summit.
"The purpose of the Sharp County Economic Summit was to be a gathering of the
minds in the county, and to hear Dr. Miller give his report on the trends of
economic development," said Greg Bess, President of Sharp County Economic
Development and NCARED Board member. "We just had a great event and a wonderful
meeting of some minds in our county. We had well over 100 folks attend
from all facets of our environment from elected officials, representatives from
state and federal government, professionals, business owners and retirees."
The summit included group activities working on health care, infrastructure,
social issues drugs/alcohol issues, retiree relations and manufacturing
recruitment. These activities centered on developing strategy maps for the
issues identified. Congratulations to Sharp County Economic Development
and the NCARED region for two very successful events.
The Cooperative Extension Service is part of the U of A Division of
Agriculture.
November 2, 2007
Media Contact: Lamar James
Extension Communications Specialist
U of A Division of Agriculture
Cooperative Extension Service
(501) 671-2187 or (501) 753-0207
ljames@uaex.edu
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