A new economic sector is emerging in Oakland County, called the Aging Industry. Most people don't think of Oakland County or Independence Township as a retirement destination but within the next five years, more retirees will be living in Oakland County and Independence than children 0 -18 years of age. From an economic standpoint, with each 100 retirees that continue to live in the county or township, $4 million dollars will be spent in the local economy each year and $1.4 million spent on healthcare. According to Oakland County's Preparing for the Silver Tsunami the average income of a household for residents 65+ was $41,201. Seniors spend 92% of their monthly income locally (in the townshiip or close by). In 2008, according to the report, seniors spent approximately $5.7 billion in Oakland County.
A couple of Independence Township officials stated the goal of the township was to create jobs. While I don't agree with this statement, I do think that the township government should consider in their planning, and visioning what services and businesses would be most appealing to retaining senior citizens.
With the McClaren Hospital complex on Sashabaw Road, doctors visits are closer for some residents. Insight into the needs of aging, transportation, housing, active lifestyle programs and nutrition should serve businesses and governmental units in preparing for this changeover of demographics.
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