Thursday, Jan. 21, 2010 | 2:05 a.m.
CARSON CITY — Contrary to a popular perception, Nevada senior citizens are a boon to and not a drag on the state’s economy, an economic expert says.
And Nevada should think about doing more to attract seniors from other states to spend down their assets, says Jeremy Aguero, a Las Vegas business consultant.
He appeared at the Las Vegas meeting of the Legislative Committee on Senior Citizens, Veterans and Adults with Special Needs, created by the 2009 Legislature to look how to protect and improve conditions for the elderly.
Carol Sala, administrator of the state Aging and Disability Services Division, said the population of those over 65, which was 100,000 in 1985, is expected to reach 650,000 by 2025.
Sala said the goal of her division is to keep seniors in their home or community and as “independent as possible.” The responsibility of the division, she told the committee, is to delay the admission of seniors to costly institutions such as nursing homes.
From 2001 to 2007, there has been a 930 percent increase in spending for personal and community services for seniors, decreasing the need for nursing home beds, Sala said.
Aguero, an owner of Applied Analysis, said the percentage of seniors in Nevada is 11.3 percent, compared to the national average of 12.6 percent.
He predicted that the growth in the population of those over 65 in Nevada will be faster than the overall population increase. Seniors are living longer, living better and have more wealth, he said.
The elderly are “larger in economic value,” said Aguero, who performed several studies for the state and the Nevada Legislature on tax issues.
Nevada does not have a competitive edge in attracting this elderly population now, but “creating one is incredibly important to us,” he said.
The average household income of persons 65 years old and older in Nevada is $39,191, and research shows the average senior household spends an average of $40,322.
“Seniors are spending down their assets” on such things as health care, housing, autos, food and gifts, Aguero said.
More than $80 million a year is spent to attract tourists to Las Vegas, Aguero said. Yet there is relatively little money spent to promote Nevada as a great place to retire.
Assemblywoman Kathy McClain, the head of the committee, said more understanding is needed of what seniors like and don’t like.
The marketing of Nevada could be on its low taxes, the weather, entertainment and the low cost of housing.
The Legislature created the committee to look at things such as providing care and services to seniors in their homes rather than in an institution and follow-up care for people in long-term centers.
Its next meeting is March 2. It will report its findings and recommendations to the 2011 Legislature.
Cy Ryan may be reached at (775) 687 5032 or [email protected].
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