In Nevada, a New Silver Rush Is Propelling the Economy

In Nevada’s Washoe County, a presidential battleground, the fastest-growing age group is 65 and older and the demand for Alzheimer’s services runs about three times greater than what’s available. Homebuilder PulteGroup’s Del Webb is putting up two 55-and-older gated communities near Las Vegas, in the state’s south, for the first time in a decade.

Welcome to the Silver State, a nickname that stems from the precious metal mined here but more and more has come to reflect the impact senior citizens are having on Nevada’s economy as demand surges for retiree services ranging from health care to entertainment. Nevada, where Democrats will caucus for president on Saturday, is shaping up as a testing ground for America on what a retirement economy may look like.

“When you think of retirees, the main three industries they’re probably going to consume are leisure, hospitality, and construction,” said Brittany Merollo, an economist at Moody’s Analytics. “Nevada’s main industries are going to benefit as more boomers move to the state.”

Read full article here – https://www.bloomberg.com/news/articles/2020-02-21/in-nevada-a-new-silver-rush-is-propelling-the-economy?srnd=markets-vp