Transcript Action Plan for an Age-Friendly Portland

The Case for Age-Friendly Communities
Margaret B. Neal, Ph.D.
Grantmakers In Aging National Webinar
July 20, 2016
Background
• Grantmakers in Aging
contracted with PSU’s Institute
on Aging to develop this case
Age-Friendly Domains
• Target audiences:
• Government officials and staff
• Business leaders, private sector
investors
• Philanthropists
• Educators
• Civic groups
• Advocacy organizations
• Service organizations and
providers
• Community residents
Credit: Age-Friendly Portland
and Multnomah County Initiative
Method
• Reviewed academic and
“gray” literature
• Consulted with experts
• Drafted document
• Received feedback from GIA,
consultants, colleagues
• Final formatting and release
by GIA on March 7, 2016
Contents
Executive Summary
i-iii
Setting the Stage
◦ Our Populations are Aging
◦ Older Adults are a Growing Resource
◦ An “Age-Friendly” Community Can Benefit People of All Ages
◦ Who Should Care and Why
1
2
2
3
3
The Value Proposition of an Age-Friendly Community
◦ Economic Benefits
◦ Social Capital Benefits
◦ Opportunities Related to Housing
◦ Opportunities Related to Physical Infrastructure
◦ Health Benefits
◦ Other Benefits
4
4
12
19
20
25
28
Conclusion
29
Endnotes
30-43
Age-Friendly Communities Have Economic Benefits
• Older adults are an important part of the workforce and expand the labor
pool from which employers can hire.
• Attracting and retaining older workers addresses labor shortages.
• Older workers can enhance organizational productivity and business
outcomes.
• Attracting or retaining older adults in a community who might otherwise
leave can be an important economic development strategy.
• Older adults start more new businesses than younger adults.
• Older adults have enormous economic clout as consumers.
• The older adult market is stimulating new companies, products, services,
and technologies.
• Older adults bring tourism dollars.
Age-Friendly Communities Have Social and
Health Benefits
• Older adults provide care and resources across generations.
• Older adults serve the community through volunteering and civic
engagement.
• Age-friendly communities reduce barriers to volunteering.
• Older adults make philanthropic investments and charitable contributions.
• Age-friendly environments reduce social isolation and improve health and
community engagement, resulting in lower public and personal costs
related to illness and health care.
• Older adults make significant contributions to the social, political, and
environmental fabric of society.
Age-Friendly Communities Facilitate Volunteering
by Older Adults, Contributing to Economic
Development and to Individual Health
• Older adults volunteered nearly 2 billion hours
of service valued at $45.7 billion
(Corporation for National and Community Service, 2014)
• 23.6% of people aged 65+ volunteered
(BLS, 2015)
• Benefits non-profits and the community but also
older adults themselves:
• a sense of purpose and accomplishment
• increased life satisfaction
• better physical, mental, and cognitive health
(Grimm et al. 2007; MetLife/Civic Ventures, 2011)
Age-Friendly Communities Help Retain Older
Adults, Who Make Charitable Contributions
• ¾ of mid-life and older
adults engage in charitable
giving (AARP, 2013)
• Bequests produced over
$28.13 billion in charitable
contributions in the U.S.
• This is nearly 60% more than all
gifts from businesses and
corporations
2015
2013
(Giving USA Foundation, 2015)
Age-Friendly Communities Facilitate Caregiving by
Older Adults, which Contributes to the Economy
• Older adults provide unpaid care for adult
children, grandchildren, spouses, and
other relatives.
• AARP (2015) estimated that:
• 40 million family caregivers provide 37
billion hours of care annually, at an average
of 18 hours per week
• Value estimated at $470 billion
• More than annual national Medicaid
expenditures ($469 billion)
• More than the combined annual sales for
Apple, IBM, Hewlett, and Microsoft ($467
billion)
Image: www.nia.nih.gov
Age-Friendly Communities Attract and Retain
Older Adults, With Not Only Economic but Social,
Political, and Environmental Benefits
• Older adults interact with
neighbors more than any other
age group (Joint Center for Housing
Studies of Harvard University, 2004)
• Older adults “care for place” by
volunteering, advocacy, giving
advice and support, and
effecting change (Wiles & Jayasinha,
2013)
“What we do now to make our communities
good places to grow up and grow old
will yield returns not only for today’s elders
but also tomorrow’s – that is, for all of us.” – p. 30
See the full report and executive summary:
http://www.giaging.org/resources/the-casefor-age-friendly-communities
Margaret B. Neal, [email protected], 503.725.5145
The Economic Case
for Age-Friendly Communities
Cathy Boyer-Shesol, MPA
Mid-America Regional Council
GIA Webinar
Wednesday, July 20, 2016
Mid-America Regional Council
• Association of city and county governments.
• Board of 33 locally
elected officials.
KANSAS CITY REGION
• Founded in 1972.
• Roles: leadership,
planning, action.
• Program areas:
•
•
•
•
•
•
Transportation Planning (MPO)
Emergency Services and 9-1-1
Environmental Planning
Local Government Services
Research, Maps and Data
Aging and Head Start
9 COUNTIES • 119 CITIES
2 MILLION PEOPLE
4,400 SQUARE MILES
Economic
Impact of
an Aging
Population
Analysis Covers…
•
•
•
•
•
•
•
Demographic Shift
Workforce
Employment
Earnings
Spending
Education
Migration Patterns
Older households spend about as much as younger
households, on average.
Based on national data
And…
The case for retaining the Kansas City
region’s 65+ population.
Estimating economic impact: assumptions and
methodology
Retaining more seniors produces a cumulative effect on
the region’s economy, resulting in nearly 7,000 more
people and 2,600 more jobs if continued for 10 years.
More people and jobs in the region would raise annual
incomes by nearly half a billion dollars, and the value of
goods and services produced locally by nearly one-quarter
billion dollars.
Conclusion
• Seniors are an increasing share of the economy.
• This is the result of both growing numbers and
improving spending power.
• Retaining seniors who might otherwise leave can
be an important part of an overall economic
development strategy.
• Strategies that make the region more attractive to
seniors could add thousands of jobs and millions of
dollars to the region’s economy, over time.
• We are increasingly a community OF all ages,
so we need to invest to become a community
FOR all ages.
Contact Information
Cathy Boyer-Shesol
Project Manager
KC Communities for All Ages
816-701-8246
[email protected]
www.kccfaa.org
Economics of Longevity:
Changing just about everything in Atlanta
and across the globe
NEW ECONOMIC STRENGTH
•
In 2013 Q1, those aged 65+ held 3.7% of
the jobs in the 10-county ARC area
•
The average monthly wage is $1,208 for
those 65+, which does lag the overall
average monthly wage for all others (1864) in the workforce at $1,400
• …For some higher-paying industries, e.g.
Professional Services, Mgmt. of Companies, average
wages for 65+ are higher
Billion in
65+ Wages
2
4
1990 Atlanta Labor Force
25
Source: ARC Plan 2040 Transportation Update (2014) (20- County Area)
2013 Atlanta Labor Force
26
Source: ARC Plan 2040 Transportation Update (2014) (20- County Area)
2040 Atlanta Labor Force
27
Source: ARC Plan 2040 Transportation Update (2014) (20- County Area)
REGIONAL LABOR FORCE PARTICIPATION FORECAST
Labor Force Participation Rates – All Ages
68.0%
66.0%
66.0%
64.0%
Rate
62.0%
60.0%
58.6%
58.0%
56.0%
54.0%
2010
2015
2020
Source: ARC The Region’s Plan Forecast (2015) Series 15 DRAFT
2025
2030
2035
2040
What if more retirees move to Metro Atlanta???
$40Billion
PERSONAL INCOME
$7.8Billion
IN ADDITIONAL GDP
31
Source: REMI
What if more working age(18-64) people move to Metro Atlanta?
$4Billion
MORE IN PERSONAL INCOME
$2.6Billion
IN ADDITIONAL GDP
32
Source: REMI (ARC Analysis)
Capture and Reinvest
Investment Funds
Evidence-Based
Practice Creates Value
Savings are invested
Savings are returned
to investor
Savings are Defined
and Captured
Value Proposition:
Aging Population Solves Community Challenges
Aging in Community = Diversified Tax Base
Transportation options = Lower transit costs
Diverse Age Structure = Maximized
Infrastructure
Kathryn Lawler
Atlanta Regional Commission
404.463.3235
[email protected]