(Alexandria, Va.)—Today, Argentum introduced Senior Living Impact at the 2019 Senior Living Executive Conference in San Antonio. The initiative was born from the need to share the story of senior living’s far-reaching impact at both the federal and state levels.
In support of the initiative, Argentum partnered with Tripp Umbach, a nationally recognized consulting firm that specializes in economic impact analyses. Their research, through key stakeholder interviews, direct data collection, historical surveys from a proprietary database, and public and government sources, provides the data to quantify the senior living industry’s current economic, employment, government revenue, and social responsibility impacts nationally, as well as in each of the 50 states and the District of Columbia.
“Through the study, we’ve learned that today, the industry is responsible for providing over 1.6 million jobs and nearly a quarter of a trillion dollars in total economic impact,” said James Balda, Argentum president & CEO. “Those are tremendous numbers that can serve as a framework for critical conversations with a spectrum of stakeholders—including policymakers.”
The research also showed how the total economic impact of senior living ($246.9 billion) compared nationally with other industries; it ranked higher in total U.S. impact than the auto manufacturing industry ($205.8 billion); the air transportation industry ($202.8 billion): and the hotel and motel industry ($167.9 billion)
A dynamic map with complete state and national data, as well as an explanatory video, is available at seniorlivingimpact.org. As more research is completed, Argentum will roll out additional data that aims to tell the larger story of senior living. Be sure to sign up at seniorlivingimpact.org to receive announcements and information related to the initiative as it becomes available.
Argentum is the leading national association exclusively dedicated to supporting companies operating professionally managed, resident-centered senior living communities and the older adults and families they serve. Argentum member companies operate senior living communities offering assisted living, independent living, continuing care, and memory care services to older adults and their families. Argentum’s work is driven by its membership. For more information about joining Argentum in its mission to raise the bar of excellence in senior living, please visit argentum.org/membership. Since 1990, Argentum has advocated for choice, independence, dignity, and quality of life for all older adults. Learn more at argentum.org.