A Federal Reserve report released this week says aging baby boomers will put incredible demands on upstate New York communities already struggling with financial challenges.
The fact that the population of older people in this area will rapidly rise between now and 2030 shouldn't be shocking news to most as national census trends have long pointed to this prospect. But just because Auburn and Cayuga County aren't specifically mentioned in the report (Albany, Rochester, Buffalo and Syracuse are), doesn't mean the cost of caring for an aging population will be any less burdensome in this area than in larger cities.
Because this study reports that high-needs seniors tend to be concentrated in cities and suburbs with “sluggish economic and population growth,” we hope lawmakers at the city, county and state levels are paying attention to what could happen in the greater Auburn area.
The aging upstate population is particularly worrisome because it comes at a time of a regional “brain drain,” a trend where educated young people are moving to other parts of the country.
Lawmakers need to continue the fight against the brain drain. Fewer young people means fewer educated workers able to meet the needs of existing - and potential - businesses. It also leaves fewer taxpayers to shoulder the burden of municipal services.
And taxes are part of the problem. New York's disproportionately high per-capita tax burden makes the state an uninviting place to live and do business.
Upstate New York has a lot to offer, but taxes need to be cut; energy costs need to come down; and existing businesses need to be given incentives to grow, if we can hope to reverse the trend of young workers leaving the area.
Planning for the future needs of this region needs to start now, not 10 or 20 years from now.
Because this study reports that high-needs seniors tend to be concentrated in cities and suburbs with “sluggish economic and population growth,” we hope lawmakers at the city, county and state levels are paying attention to what could happen in the greater Auburn area.
The aging upstate population is particularly worrisome because it comes at a time of a regional “brain drain,” a trend where educated young people are moving to other parts of the country.
Lawmakers need to continue the fight against the brain drain. Fewer young people means fewer educated workers able to meet the needs of existing - and potential - businesses. It also leaves fewer taxpayers to shoulder the burden of municipal services.
And taxes are part of the problem. New York's disproportionately high per-capita tax burden makes the state an uninviting place to live and do business.
Upstate New York has a lot to offer, but taxes need to be cut; energy costs need to come down; and existing businesses need to be given incentives to grow, if we can hope to reverse the trend of young workers leaving the area.
Planning for the future needs of this region needs to start now, not 10 or 20 years from now.
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Andy B wrote on Sep 7, 2007 9:17 AM:
forrest wrote on Sep 7, 2007 8:30 AM: