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Report: Florida Needs More Retirees

Report: Florida Needs More Retirees

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(Tallahassee, Florida-AP) -- Florida officials say the state needs more retirees.

They've released a report that says the state's economy relies heavily on the elderly.

The report says other states are also trying to lure the elderly, cutting into Florida's share of retirees.

The report says two decades ago, a-quarter of retirees who left their home states moved to Florida. Now it's one in five.

That's important, because a private study last year found people 50 and older made up one-third of the state's population but accounted for 55 percent of consumer spending.

Among the suggestions for luring more retirees -- freezing property taxes for the elderly, and offering more mass transit.

Critics question whether the state can afford a swelling population.

(Copyright 2003 by The Associated Press. All Rights Reserved.)

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