Matt McCauley of Networks Northwest, our speaker introduced by Warren Call, actually called it the “Silver Tsunami” as a metaphor for what we are seeing happening not-only here in the 5 county region, but also in the entire State of Michigan, which ranks 11 oldest in the nation. It is a growing phenomenon that over the next decade will increase the graying population by an estimated 10%, and it is imperative that we here in the region position ourselves to manage that growth economically.
Additionally, we must build the infrastructure to enable and manage the necessary workforce; to find the appropriate balance that will keep that vital workforce in place to support the aging population and to revitalize that same population and keep them as active and productive for as long as possible.
Housing and educational needs will change. Healthcare needs are changing constantly and more robust systems are required. We are fortunate that we have that here. Though we are not an outlier here, it is the pace of change that we must keep focused on.
On the positive side, there are a great many new business opportunities that are created within this environment, and we will see a proliferation of entrepreneurial spirit in the face of these changes and there will be those who will thrive in these environments. There is also greater wealth with many of the retirees that are brought by this demographic into the region. Nonetheless, we must balance all of this with the new, younger workforce and support them as well, making certain that their needs, too are well met so there is a strong and welcoming future for them as well.
Networks Northwest covers an area the size of Connecticut embodying 10 counties of Northern Michigan. They are an Economic Development Organization that is the confluence of talent, business and community within their sphere of influence; a partner with business throughout the region.
Matt McCauley guest speaker with Rotarian Warren Call