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Economic Impact Study
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Market Needs and Economic Impact of Continuing Care Retirement Communities in North Carolina is an independently produced report authored in November 2015 by Dr. James Johnson, Jr., William R. Kenan Jr. Distinguished Professor of Strategy and Entrepreneurship, and a team of researchers at the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. The study examines the economic impact of continuing care retirement communities on North Carolina and the potential they have for creating jobs and expanding the state's tax base. The report suggests that with North Carolina’s older adult population set to explode by nearly 70% in the next twenty years (an additional one million seniors), the impact of CCRCs on our state’s economic health will be staggering.

  • In 2014, North Carolina’s 57 CCRCs served nearly 19,000 residents and directly employed 15,000 staff. Their combined economic impact on the state was $1.7 billion annually and they paid $94 million in state and local taxes and $152 million in federal taxes.
  • In 2034, the report projects that North Carolina CCRCs will serve more than 35,000 residents and employ 30,000 staff. Their combined economic impact on the state is estimated at $3.2 billion and they will pay $174 million in state and local taxes and $283 million in federal taxes.

The study is the first of its kind in North Carolina and promises to shed new light on the scope of impact CCRCs have on the health of North Carolina. LeadingAge North Carolina provided copies to key members of the General Assembly and other influential policymakers. You may click on the following links to view and download:

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