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In addition to contributing their knowledge and experience to Florida's local communities, seniors comprise our state's second largest economic sector.

Economic Impact of Florida Seniors Title Graphic

The Senior Population

Florida has a large and growing adult population. The State as a whole has a population approaching 20 million, and people over 60 make up nearly 23 percent of that population.

By 2020, the State is expected to have a population of more then 23.5 million, and people over 60 will make up over 28 percent of that population.

Florida Growth by Age Group Chart, 1990-2020

This trend is well established. Dating back into the 1970's, the population of Florida has increasingly grown more senior, and with the aging of the baby boomers, this trend will continue.

The Power of the Gray Dollar!

In addition to contributing their knowledge and experience to Florida's local communities, seniors comprise our state's second largest economic sector.

The "spending power" of Florida's elders is $135 billion annually, almost $15 billion more than residents aged 49 and under.

Statewide, seniors account for 50 percent of all new home construction.

Each year, Florida's seniors contribute $3.5 billion to charities, and pay $1 billion in local school taxes.

Each year, seniors expend $9 billion in out-of-pocket expenses for medical care, and pay $1.4 billion more in state taxes than they receive in social services.

After all services are rendered, Florida's senior community contributes a $2.8 billion net tax benefit.

Florida seniors are the state's largest voting block, and in our recent general elections, they have comprised more than 40 percent of all voters.

Many seniors are volunteers, donating their time and talent in the amount of 7.5 million person days annually.

The retirement industry, which includes housing, medical services, hospitality, and recreation, is considered to be a "clean" industry. Thus, seniors are GOOD for our state's environment.

Conclusion

Florida's seniors add much to our state. Their social and economic contributions make Florida a better place to live for all of the state's residents.