Retain and Attract Seniors for Economic Growth in Fulton and Atlanta

8/9/2019 Retain and Attract Seniors for Economic Growth in Fulton and Atlanta

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Total Total Total

Initial Output Value Added Labor Income Output

Category Spending Impact Impact Impact Multiplier

Table 3.1

Annual Economic Impact of In-Migrating Retirees

on Output, Labor Income, and State GDP in Georgia(2011 dollars)

Consumer expenditures 393,576,110 480,575,881 279,557,722 175,965,223 1.22

Medicare 163,961,070 283,150,340 172,122,041 126,634,457 1.73

New home construction 94,357,600 176,953,446 92,940,914 62,505,342 1.88

Total, retiree-related spending 651,894,780 940,679,667 544,620,677 365,105,022 1.44

Notes:

The impact of initial spending on output, value added, and labor income was estimated using the IMPLAN Professional System provided by MIG, Inc.,

version 3.0, Type SAM multipliers, and 2011 data. Output refers to the value of total production, including domestic and foreign trade. Value added

includes employee compensation, proprietary income, other property type income, and indirect business taxes. Labor income includes both the total

payroll costs of workers who are paid by employers and payment received by self-employed individuals. The spending and impact estimates are for

a single year (one 12-month period) based on population data obtained from the U.S. Census Bureau’s Current Population Survey for the five-year

period 2007-2011.

Source: Selig Center for Economic Growth, Terry College of Business, University of Georgia, 2013.

Table 3.2

Annual Economic Impact of In-Migrating Retireeson Employment in Georgia

(full- and part-time jobs)

Direct Employment Direct Job

Initial Employment Impact Employment

Category Spending (jobs) (jobs) Multiplier Initial Spending

TotalEmployment

Multiplier Per $Million

Consumer expenditures 393,576,110 2,982 4,670 1.6 11.9

Medicare 163,961,070 1,442 2,555 1.8 15.6

New home construction 94,357,600 688 1,349 2.0 14.3

Total, retiree-related spending 651,894,780 5,112 8,574 1.7 13.2

Notes:

The impact of initial spending on employment was estimated using the IMPLAN Professional System provided by MIG, Inc., version 3.0, Type SAM

multipliers, and 2011 data. The employment estimates are for a single year (one 12-month period) based on population data obtained from the U.S.

Census Bureau’s Current Population Survey for the five-year period 2007-2011.

Source: Selig Center for Economic Growth, Terry College of Business, University of Georgia, 2013.

Attachment 10: Annual Economic Impact of In-Migrating Retirees

Retain and Attract Seniors for Economic Growth in Fulton and Atlanta

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