Retirees: A Regional Economic Resource

By Kelly Novak, Research Manager, NADO and Bill Meadows, Program Manager, Alabama Department of Economic and Community Affairs

The U.S. Census 1990 projections indicated that by the year 2005, the population of the 50-59 pre-retirement age group will be 35 million. A recent report by the AARP on the 50-plus generation shows that those in the top quartile had a median income of $100,000 and a median net worth of $360,000. Based on these types of indicators, regional development organizations have recognized the potential economic benefits of retiree community development, and are working to build marketing strategies that attract amenity-seeking retirees to their senior- friendly regions.

Alabama Takes Advantage of Web Promotions

A partnership was established in 2000 between the Alabama Association of Regional Council’s twelve participating members and the state’s Alabama Advantage for Relocation or Retirement program, created in 1988 to promote Alabama as a retirement destination. Under the direction of Wayne Burnette, the Alabama Association of Regional Councils Executive Director, the partnership designed a promotional website, www.AlabamaAdvantage.com, which has expanded outreach to vacationers and persons/corporations interested in relocating.

With technical support from the Southeast Alabama Regional Planning and Development Commission, an EDA funded district, the site went online in February 2001. The site contains scenic photos, promotes quality of life benefits and demonstrates how retirees and persons interested in relocating can apply their special skills, start a second career or volunteer in any one of the participating 57 Alabama communities profiled. Profiles include information such as airport access, taxes, health care, utility services and web links.

The Web inquiries have given useful marketing feedback and shown how the site is capturing more than retirees’ attentions. For example, corporate correspondents are using the Web to research potential relocation sites and have been attracted to the site because of its second career outreach, and the assurance that if skilled labor is not already there, it can be recruited.

Governor Don Siegelman, the state of Alabama, and the Alabama Regional Councils received a NADO 2001 Innovation award and demonstrated the website at NADO’s Annual Training Conference. Pictured (Left to right) standing, Mrs. Clara Yelverton, Mrs. Lorene Lee-Wiley representing the Southeast Alabama Regional Planning and Development Commission and the Alabama Association of Regional Councils board; and Bill Meadows of Alabama Advantage.

Many information requests are coming from military retirees or middle-aged people seeking a second career. Retiree prospects responding to the website have expressed interest in buying homes for part-time residence.

“The partnership’s pursuit of developing a website that included marketing to retirees was a sound economic and marketing investment, when you consider that Alabama has a silent industry from military and federal retirees that earn $2.1 billion annually in retirement income,” said Burnette. “Income that is steady and not prone to economic downturns, and often used for discretionary spending.” www.AlabamaAdvantage.com has received more than 8,000 hits from persons viewing the site, and corresponding inquiries have doubled in number in the last year. In addition, it received national recognition after receiving a NADO Innovation Award in 2001.

For more information about Alabama Advantage and the website, contact Bill Meadows at armor@mindspring.com or 205/222-2862; Freddy Dykes at Southeast Alabama Regional Planning and Development Commission freddy@sanman.net or 334/794-4093; Wayne Burnette, Alabama Association of Regional Councils at 334/277-2221 or email wburnette@coa.state.al.us.

July 2002 Index | Next Page | Previous Page