LancasterThrivingFallWinter2017 - 36

A WORD FROM YOUR CHAMBER

PEOPLE BUSINESS COMMUNITY

More than Numbers...
DID YOU KNOW?

* The median age of an individual in
Pennsylvania is 40.7 years old.
* In 2011, the oldest Baby Boomers
began celebrating their 65th birthdays
and each day through 2029, 10,000
more will cross that threshold
nationwide.
* 17% of the Pennsylvania population
(2.2 million citizens) is 65 or over.
* The state ranks 4th among all states in
the percentage 65 and older and in the
percentage age 85 and older. (Maine,
Florida and West Virginia are higher.)
* The only age cohort with net growth
in PA was the 75 and older population -
all others had a negative domestic
net migration.

36 | LANCASTERTHRIVING! | Fall/Winter2017

T

hese demographic trends will play a significant
role in the long-term future of Pennsylvania - from
tax base erosion to expenditures. Income and
spending patterns change over the lifetimes of workers
and consumers, and the impact of these changes on state
revenue can be substantial.
Most workers' earnings increase during their careers and
fall at older ages. Similarly, consumer spending tends to
increase as people move from early life to middle age, and
then spending declines after retirement. And it is critical that
our policymakers are aware of these demographic shifts
in order to plan for schools, transportation, day care and
elderly care, workforce development and many other areas.
Regarding Pennsylvania's population outlook, it is expected
that the population will increase to 14.1 million in 2040,
up from 12.7 million in 2010. Almost 72 percent of the
increase will be due to domestic net-migration or overseas
migrants arriving from 2010 to 2040, with overseas migrants
accounting for more than 85 percent of this portion of
the increase.
For counties, 13 of the 67 in PA will see an increase in
population greater than 15 percent (Lancaster is one
of seven counties expected to have overall growth in



Table of Contents for the Digital Edition of LancasterThrivingFallWinter2017

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