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BBB of Southern Colorado: Good reasons to become age-friendly certified

The factors which make a community “age friendly” are the same whether you are a senior or a millennial. Both groups want to live in a city that includes opportunities for social participation, beautiful outdoor spaces, excellent health services, respect and inclusion, as well as housing and transportation options that fit their lifestyle.

IT’S A GROWING MARKET

  • In Colorado, 155 residents turn 65 every day.1
  • As of 2015, 12.4% of the residents in the Pikes Peak Region were 65 or older. 1
  • The Colorado State Demography Office (SDO) projects that the 65 and over population in the Pikes Peak region will increase from 68,000 in 2010 to 176,500 in 2040. 1

THEY HAVE BUYING POWER

  • By 2017, 70% of disposable income in the U.S. will be in the hands of those over 60. 2
  • Colorado seniors on average are wealthier. As of 2013, the average net worth for those 65-74 was $232,100 while the average net worth for those 75 and older was $194,800.1
  • As Baby Boomers age out of the workforce, 67% plan to spend more time on their hobbies and interests, moving from lives dedicated to making money to those directed at spending money. 3

IT HELPS YOU MEET YOUR CUSTOMERS' NEEDS
Nearly 40% of Americans 65 and over live with at least one disability. 4  This makes accommodating their needs a crucial priority for businesses.

IT’S GOOD FOR BUSINESS
We can help promote your designation to potential customers through our age-friendly business directory as well as our network of age-friendly community partners. We can make your business more visible to older consumers and the general public.

1. Adams, Tucker Hart, & DeGroen, Cindy (April 2015). Aging In The Pikes Peak Region A Report from The Innovations in Aging Collaborative (sections I, IV). Retrieved from the State of Colorado website: https://www.colorado.gov/pacific/sites/default/files/AgingInThePikesPeakRegion2015_Final.pdf
2. A World Economic Forum White Paper. (October 5, 2015) How 21st-Century Longevity Can Create Markets and Drive Economic Growth. Retrieved from the World Economic Forum website: http://www3.weforum.org/docs/WEF_GAC_Ageing_White_Paper.pdf
3. Nielsen. (August 6, 2012) Don’t Ignore Boomers – The Most Valuable Generation. Retrieved from the Nielsen website: http://www.nielsen.com/us/en/insights/news/2012/dont-ignore-boomers-the-most-valuable-generation.html
4. Preidt, Robert. (December 2, 2014). 40 Percent of Seniors Report Having a Disability. U.S. News and World Report. Retrieved from U.S. News and World Report website: https://health.usnews.com/health-news/articles/2014/12/02/40-percent-of-seniors-report-having-a-disability