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Best Choice for Retiring Boomers: Head South -
An Analysis of Selected U.S. Cities
TheWashingtonEconomicsGroup,Inc.
April 16, 2012
RepresentativeOfficeinWashington,D.C.
Dawson & Associates, Inc.1225 I Street, NW, Suite 250
Washington, DC 20005
U.S.andGlobalHeadquarters
2655 LeJeune RoadSuite 608
Coral Gables, FL 33134
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i
Contents
Executive Summary ......................................................................... .................................... 1
Overview ...................................................................................... ............................................ 3Methodology .................................................. .............................................. ........................... 5
Cities Analyzed ......................................................... ................................................... .......... 7
1. Tallahassee, Florida: The Number One Choice .......................... ............... 72. Memphis, Tennessee ....................................................................... .................. 103. Athens, Georgia .............................................. ............................................. ......... 124. Tuscaloosa, Alabama ........................................................................ ................. 145. Atlanta, Georgia .................................................................................. ................. 166. Tied at 6 Oxford, Mississippi ..................................... .................................. 196. Tied at 6 Charleston, South Carolina ....................................... ................. 21
8. Louisville, Kentucky ......................................... .................................................. 23
9. Tied at 9 Richmond, Virginia .................................... ................................... 25
9. Tied at 9 Pittsburgh, Pennsylvania .......................................... ................. 27Conclusion ........................................................................................................................... 30
List
of
Tables:Table 1. Ranking of Retirement Destination Cities ........................................ ....... 6
Table 2. Scores for City Factors ........................................ .......................................... 31
Table 3. Overall Scores for Cities ...................................................................... ......... 32
Appendix: The Washington Economics Group Qualifications andProject Team ................................................................. ......................... 33
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ExecutiveSummary
Baby Boomers are one of the largest generational groups in the U.S. More than25 percent of the U.S. population belongs to this generation, born between 1946
and 1964.
The leading edge Boomers are beginning to retire in large numbers up to10,000 a day and many of them will relocate to a city that better serves the
needs and desires of retirees.
MasonDixon Polling and Research Inc. conducted a survey among Boomersbetween Nov. 14 and 22, 2011 for the Consumer Federation of the Southeast, to
gauge their preferences toward a number of factors that would most directly
influence their retirement relocation decision such as climate, taxes or
recreation. The survey also asked participants to rank the importance of eachfactor when deciding where to relocate.
The Washington Economics Group (WEG) developed a methodology, based onthe abovementioned survey, to rank 20 cities based on a number of factors and
city characteristics. The 20 destinations were chosen because they are cities
with an already high number of retirees, or cities that are classified as typically
popular destinations for retirees or because they possess more than one factor
favored by the Baby Boomers surveyed in the MasonDixon poll.
WEGsWhitePaperanalyzes, in detail, the Top 10 cities of this list, and, overall, aTop 20 that can potentially attract a great number of Baby Boomer retirees.
WEGs analysis includes a detailed description of each citys climate, cost ofliving, availability of healthcare services, competitiveness of local fiscal
obligations and offering of recreational and other amenities. The analysis
scoreseach factor foreachcityandbasedon this,determinesanoverall
score/rankingforthatcityamongallofthoseevaluated.
WEGsanalysisconcludedthatthenumberoneretirementdestinationcityamong the20citieson the listwouldbeTallahassee,Florida. Tallahassee
possesses more of the priority features and characteristics cited by Boomers
necessary to provide a high quality of life for retirees. These distinct and
desirable characteristics that Tallahassee exemplifies are:
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o Anextremelypleasantclimate: Best described as warm with cool months.o A significantly low cost of living: Tallahassees Cost of Living Index is
significantly below the national average.
oHigh
quality
and
affordable
healthcare
services: In 2010, Tallahassees
Capital Health Plan was ranked the No. 1 Medicare Advantage plan in the
nation. That vaults an alreadyhighranking community further up the scale
of top locations. The new Florida State University College of Medicine
enhances the availability of health services, and area hospitals are of very
good quality. Tallahassee Memorial Regional Medical Center has been
recognized for its quality of care multiple years in a row.
o Lowlocaltaxrates: The State of Florida does not assess an income tax, andTallahassee residents only pay a 7.5 percent sales tax. An abundance ofrecreationalamenities that includes easy access to the ocean and beaches,an awardwinning city park system, museums, restaurants and organized
festivals and events in the city.
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Overview
During the next few years, it is estimated that 78 million individuals (slightly over 25
percent of the U.S. population) born between 1946 and 1964, will reach retirement
age1. Many of these individuals, known as Baby Boomers, will find themselves making
the decision of where to spend their retirement years. Many Baby Boomers want to
move to a city or town that can better serve their needs and desires during retirement.
There are numerous reasons for Baby Boomers to want to relocate, among these
reasons are a desirable climate, more entertainment and recreation amenities, an
affordable cost of living and peace and quiet.
MasonDixon Polling and Research Inc. conducted a survey for Consumer Federation of
the Southeast between November 14 and 22, 2011, among adults between the ages of
47 and 65 (those individuals who qualify as Baby Boomers) 2 to gauge their
preferences regarding retirement and the features and amenities they desire to find in aretirement destination. All participants in the poll were considering moving once they
reached retirement. The poll results show that there are fivemain factors that are most
important for these individuals. These factors are: climate, cost of housing, quality of
healthcare services, local taxes and recreational options.
In reviewing the survey, we noted that, even within the five broad categories identified,
some factors appear to weigh more heavily than others with Boomers who are
considering relocation during their retirement. For example, when survey respondents
were asked to rank desired characteristics of a relocation destination in priority order,
climate came first and housing costs second. Within those top priorities, the surveyresults also indicated that more than 50 percent of respondents preferred a city with a
climate described as warm with cool months. In addition, the issue of housing costs
includes more elements than simply the purchase price of real estate. Both
homeowners and renters must also consider local taxes a key issue in the Consumer
Federation survey and also homeowners insurance costs. Residents of inland areas
in the United States far removed from the hurricane zone often are surprised to learn
that windstorm insurance rates in coastal communities in the Southeast have increased
quite sharply in the last decade, significantly adding to total housing costs for those
considering a move to a Gulf Coast state. Communities that are not located directly onthe coast may have some advantages in housing costs over a coastal location when
housing costs are considered. Similarly, more than 70 percent preferred a medium
1Hellmich, Nancy. "Baby Boomers by the Numbers: Census reveals trends." USAToday, March 03, 2010.http://www.usatoday.com/news/nation/census/20091110topblline10_ST_N.htm (accessed February 04, 2012).2 1,000 adults between the ages of 47 and 65 were interviewed by telephone from November 14 through November22, 2011. All respondents lived in states east of the Mississippi River and were considering moving to another statewhen they retired.
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sized city or small town. Additionally, more than 20 percent of respondents indicated
that proximity to ocean and beachrelated recreational activities was either the most or
second most important factor when deciding where to retire. Less than an hours drive
from a coastline with good beaches is a key consideration with the Boomers whose
retirement looms a choice that also allows relocating Boomers to mitigate high
insurance costs.
The Washington Economics Group (WEG) developed a methodology that ranks cities
based on the previously mentioned factors extracted from the results of the Mason
Dixon/CFSE poll. WEG evaluated a group of 20 cities with an already high number of
retirees and cities that are classified as typically popular destinations for retirees. Cities
were also chosen based on those whose population is consistent with or close to the
size Boomers favored in the poll or those cities that possess more than one factor that
was indicated as favorable by the respondents of the MasonDixon poll. This White
Paperpresents the ranking of the 20 cities analyzed by WEG and includes a detailedanalysis of the Top 10 cities on the list. The following sections introduce the
methodology used by WEG to rank the cities and present the detailed analyses for the
Top 10 ranked cities on the list.
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Methodology
WEG developed a straightforward methodology that clearly demonstrates how each
city is scored. The methodology is complex enough to reflect why one city might be
ranked higher than another. At the same time, it is simple enough to be replicated. Thismethodology allowed WEG to rank the cities based on a system of point scores that
were assessed after scoring each one of the five factors for each city.
The survey results also showed that, among these five factors, individuals value some
factors higher than others. On average, cost of housing is the most important factor,
followed in order by climate, quality of healthcare services, local taxes and recreational
options. In addition, respondents to the MasonDixon poll indicated their preferences
for individual factors such as climate (warm and cool months) and recreational
amenities (preference for proximity to the ocean and beaches).
Once these preferences were identified, WEG proceeded to score each one
of the five factors for each city on a scale from 1to4, with4 being the best
available score and 1 being the lowest available score. Once each city was
given a score for each factor considered, the next step was to compare the
overall city package.
In order to rank the cities, WEG quantified the importance of each factor based on
survey responses. For example, WEG needed a way of taking into account that climate
is more important than recreational amenities. The solution was to assign weights toeach one of the categories, thus reflecting its importance. Climate was given a weight of
10, cost of living a weight of 8, quality and affordability of available healthcare a 6,
state/local taxes a weight of 4 and recreational options a weight of 2.
To compare the overall scores for each city, WEG
combined the individual scores assigned to each
factor and the weights for each factor by
multiplying the weights by the scores. This
procedure resulted in a total weighted score foreach factor of each city. Finally, WEG summed all
the scores for each category to obtain a total score for each city. Once the final score for
each city was obtained, the cities were ranked from highest to lowest. Based on this
methodology, the following section is a detailed analysis of the Top10 cities from the
list. The table below lists the ranking of these Top 10 communities and the percentage
Scores4
3
2
1
Factor Weight
Climate 10
Cost of Living 8
Healthcare 6
Local Taxes 4Recreational Amenities 2
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of points earned by each city. Tables 2 and 3 on pages 31 and 32 respectively, detail the
measurements used to formulate this ranked list of the top five retirement factors and
Top 10 cities out of 20 cities.
Table1.RankingofRetirementDestinationCitiesRanking City Percentage
ofPointsScored1 Tallahassee, FL 93%2 Memphis, TN 88%3 Athens, GA 85%4 Tuscaloosa, AL 82%5 Atlanta, GA 78%
6(Tie) Oxford, MS 73%6(Tie) Charleston, SC 73%
8 Louisville, KY 68%9(Tie) Richmond, VA 65%9(Tie) Pittsburgh, PA 65%
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CitiesAnalyzed1. Tallahassee,Florida:TheNumberOneChoice
Tallahassee is the capital city of the Stateof Florida. It is located in the middle of
Floridas panhandle, only miles away from
the Alabama and Georgia borders.
Tallahassees metropolitan area has more
than 300,000 residents3, and that is why it
can be considered either a midsize city or
a small town. Tallahassee has something
to offer individuals with distinct needs
and preferences. From the peace and quiet
experienced in its family neighborhoods
to the festivities such as Springtime
Tallahassee and the celebrations that
accompany a Florida State University
Seminoles or Florida A&M Rattlers
football game, Tallahassee possesses the
size to make residents feel that they live in
a small town, but with the amenities, facilities and institutions of a larger city.
Tallahassee earns the top ranking on this list because it offers the best available match
among the five priority characteristics that relocating Boomers say they want, ad
require in a retirement destination.
ClimateTallahassee ranks Number 1 on this list in the climate category. High temperatures in
the summer can reach 90 degrees or more, but usually average around 87. Autumn and
spring temperatures oscillate between the 60s and 70s, and the winter averages
temperatures in the 50s4. There is no snowfall during the winter, but for thoseindividuals interested in snowrelated recreation activities there are specialized resorts
and attractions only a few hours away in Alabama or Georgia. 3 U.S. Census Bureau, "Metropolitan and Micropolitan Statistical Areas." Accessed February 04, 2012.http://www.census.gov/population/metro/.4 Infoplease, "Climate of 100 Selected U.S. Cities." Accessed February 04, 2012.http://www.infoplease.com/ipa/A0762083.html.
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CostofLiving/HousingTallahassees residents enjoy a relatively low cost of living. The Cost of Living Index for
Tallahassee is 95, considerably below the national average of 1005. This is reflected by
lowerthanaverage housing, healthcare, gas and food prices. The median sales price of
a singlefamily home in Tallahassee is less than $150,0006, which is exceptionally low
when compared with other cities on this list.
Healthcare
The City of Tallahassee offers highquality healthcare options for its residents. Capital
Health Plan, based in Tallahassee, was ranked the nations top Medicare Advantage plan
in 2010 and that national ranking of leadership provides a super magnet on a key
indicator for Boomers. The city is served by two major hospitals and various walkin
clinics. Hospitals in Tallahassee offer a wide range of specialized healthcare services
from cancer treatment to intensive care services. Tallahassee Memorial Regional
Medical Center (TMRMC) has been recognized numerous times in the past, most
recently for significantly reducing mortality rates. The Hospital has also received the
National Consumer Choice award for outstanding service for 6 years in a row 7.
Additionally, in 2005, the Florida State University College of Medicine established a new
communitybased medical school that focuses on educating physicians to treat older
Floridians and residents of smaller communities.
LocalTaxesTallahassee is an appealing city for those individuals looking to pay the least amount of
taxes. The citys residents pay a state sales tax of 6 percent, and the citys residents pay
an additional 1.5 percent local sales tax8 for a total of 7.5 percent. A significantly
important and attractive feature of Tallahassee is that there is no local or state income
tax in the State of Florida.
5U.S. Census Bureau, "2012 U.S. Statistical Abstract." Accessed February 04, 2012.
http://www.census.gov/compendia/statab/2012/tables/12s0728.xls.6 National Association of Realtors, "Metropolitan Area ExistingHome Prices and State ExistingHome Sales."Accessed February 04, 2012. http://www.realtor.org/research/research/metroprice.7 Tallahassee Memorial Hospital, "Tallahassee Memorial Receives National Consumer Choice Award for SixthConsecutive Year." Accessed February 04, 2012. http://www.tmh.org/body.cfm?ID=758.8 City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/uscities/thesouth/Tallahassee.html.
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RecreationThe City of Tallahassee and the neighboring Big Bend region enjoy a rich cultural
history, and also offers a wide range of recreational amenities for its residents. For
individuals looking for ocean activities, the coastline of the Gulf of Mexico is only about
25 miles away from the city and is easily accessible by car.
The Apalachicola National Forest and the Wakulla Springs
State Park are located in close proximity to the city, as
well as many other state parks where individuals can
participate in numerous outdoor activities year round.
Florida State University and Florida A&M University have
widely recognized sports programs such as the nationally
ranked Seminole football and baseball teams that provide
additional entertainment options for the citys residents.
OverallScoreThe city offers the lifestyle that retirees are looking for. Tallahassee is a small city that
provides high quality services, in which residents can enjoy peace and quiet while at the
same time, participate in a wide variety of recreational and cultural activities.
Tallahassee
is
Number
1
on
this
list
because it possesses the mostdesirable climate, a relatively lowcost of living, quality healthcareinstitutions,relativelylowlocaltaxes,andmanyrecreationalalternatives,allofwhichhavebeenidentifiedasextremelyimportanttoindividualsthatareretiredorabouttoretire.
OverallScore andScoreOverallScore 112%ofpossibletotalpoints 93%
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2. Memphis,TennesseeMemphis is a city with a
population of almost 700,000
residents9 and is located in
western Tennessee next to the
Mississippi River. Memphis is an
attractive option for retirees
because it can offer a particularly
low cost of living, an exceptional
healthcare system and
competitive tax rates.
ClimateMemphis experiences all four seasons throughout the year. Summers can be extremely
warm with high temperatures reaching over 90 degrees and precipitation on more than
100 days of the year. Winter months can be particularly cold with average low
temperatures reaching the low 30s. The city does not experience much snowfall as it
only collects 5.1 inches on average each year10.
CostofLiving/HousingThe cost of living in the City of Memphis is lower than average. Memphis Cost of Living
Index is 8911, significantly lower than the national average of 100. The citys residents
enjoy low prices on food, utilities, healthcare and housing. The median sales price for a
singlefamily home in Memphis is just above $120,00012, which ranks it among the
lowest found in the cities on this list.
HealthcareMemphis residents can find a full range of healthcare services offered in the numerous
hospitals in the city. The Methodist Healthcare system, which manages and operates 7
9 U.S. Census Bureau, "Metropolitan and Micropolitan Statistical Areas." Accessed February 04, 2012.http://www.census.gov/population/metro/.10 Infoplease, "Climate of 100 Selected U.S. Cities." Accessed February 04, 2012.http://www.infoplease.com/ipa/A0762083.html.11 U.S. Census Bureau, "2012 U.S. Statistical Abstract." Accessed February 04, 2012.http://www.census.gov/compendia/statab/2012/tables/12s0728.xls.12 National Association of Realtors, "Metropolitan Area ExistingHome Prices and State ExistingHome Sales."Accessed February 04, 2012. http://www.realtor.org/research/research/metroprice.
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hospitals, and Baptist Memorial Hospitals are located in Memphis. Many of them have
been nationally recognized in the past for the quality of their healthcare services.
LocalTaxesMemphis offers low tax obligations for its residents. Individuals in Memphis only pay a2 percent local sales tax in addition to the state sales tax of 7 percent13. Thus, Memphis
residents pay a 9 percent sales tax in total. Memphis residents are not subject to paying
any state or local income taxes.
Recreation
Memphis offers a wide range of leisure activities for its residents. The city has many
parks, museums and historical sites such as the Victorian Village and the National Civil
Rights Museum, located in the same hotel building where Martin Luther King Jr. was
assassinated. Residents of the City of Memphis can enjoy numerous live sporting events
in the city. The Memphis Grizzlies NBA franchise and one tripleA baseball team play
their home games in Memphis. The Memphis University Tigers have a traditionally top
ranked and popular basketball program, and the FedEx/St. Jude Classic PGA golf
tournament is held every year in the city. Residents interested in ocean and beach
related activities must travel in excess of five hours to reach such destinations.
Overall, Memphis can be an attractive destination for retirees as it has a highly regarded
healthcare system and offers a low cost of living as well as low local tax rates.
OverallScoreMemphis drawbacks are itsconsiderable distance to the oceanand beaches. The climate duringwinters and summers can also bedifficultforretirees.
13 City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/uscities/thesouth/Memphis.html.
OverallScore andScoreScore 106
%ofpossibletotalpoints 88%
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3. Athens, GeorgiaAthens is a college town located
in North Georgia with a
population of slightly over
100,000 residents14. Athens is an
attractive alternative for retirees
because the city offers some of
the most sought after amenities
for retirees. Athens offers its
residents a low cost of living,
competitive tax rates, an
adequate healthcare system and
numerous recreational options.ClimateAthens residents experience the four seasons throughout the year. The summer months
can average high temperatures around 90 degrees, and the winter months average low
temperatures in the 30s. There is an average of 4 inches of rainfall each month 15 and
even though it is not very common, there can be snowfall during the winter months.
CostofLiving/HousingResidents of Athens enjoy a lower cost of living than the national average. Athens Costof Living Index is 9216, significantly lower than the national average of 100. Gas prices
are about 1 percent higher than the national average. Food and healthcare prices are
slightly below national averages, but housing prices are significantly lower than the
average. The median sales price for a singlefamily home in Athens is close to
$120,00017, which is among the lowest found in the cities on this list.
14 U.S. Census Bureau, "Metropolitan and Micropolitan Statistical Areas." Accessed February 04, 2012.http://www.census.gov/population/metro/.15 Infoplease, "Climate of 100 Selected U.S. Cities." Accessed February 04, 2012.http://www.infoplease.com/ipa/A0762083.html.16 U.S. Census Bureau, "2012 U.S. Statistical Abstract." Accessed February 04, 2012.http://www.census.gov/compendia/statab/2012/tables/12s0728.xls.17 National Association of Realtors, "Metropolitan Area ExistingHome Prices and State ExistingHome Sales."Accessed February 04, 2012. http://www.realtor.org/research/research/metroprice.
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Healthcare
The City of Athens has two main providers of healthcare services: Athens Regional
Medical Center and St. Marys Healthcare System. Both provide a full range of medical
services to Athenss residents.
LocalTaxesThe City of Athens offers competitive tax rates. The citys residents pay Georgias
income tax that extends between 16 percent and the state sales tax of 4 percent18. A
positive factor and potential advantage offered by the City of Athens is that it does not
assess any additional local income or sales tax to its residents.
RecreationAthens offers a variety of leisure activities to its residents. City residents can enjoy
parks, restaurants, cinemas and museums. However, the University of Georgias sports
teams that play in the highest division of collegiate sports provide much of the
entertainment. Individuals that enjoy ocean and beach activities must drive in excess of
four hours to reach these destinations.
OverallScoreAthens is a small city with attractive features and amenities to offer its retirees. The
citys low cost of living and competitive tax rates make it attractive for individuals
selecting a retirement destination. The citys healthcare system is adequate, and theclimate is not extreme even though residents do experience the four seasons.
Athens offers numerous recreationaloptions,anadequatehealthcaresystemandalowcostofliving.However,thereisagreatdistancebetweenthecityandtheoceanandbeaches.
18 City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/city/AthensGeorgia.html.
OverallScore andScoreScore 102
%ofpossibletotalpoints 85%
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4. Tuscaloosa,AlabamaTuscaloosa is a small city in
the middle of the State of
Alabama. The Tuscaloosa
metropolitan area has apopulation of almost 200,000
residents19. The city can be an
alternative for retirees
because it has some of the
characteristics and offers a
selection of the amenities that
retirees look for when deciding where to locate. Tuscaloosa offers a pleasant climate
with mild winters and almost no snowfall. Residents of Tuscaloosa enjoy a relatively
low cost of living and an adequate healthcare system. Recreational options inTuscaloosa center on the University of Alabama athletic programs.
ClimateTuscaloosas residents experience the four seasons throughout the year, however, the
winter is mild when compared to other cities on this list. The summer months can
average high temperatures close to 90 degrees, while winter months have lowaverage
temperatures close to 40 degrees. Even though temperatures are not extremely cold,
there are small amounts of snowfall each winter20.
CostofLiving/HousingTuscaloosas residents enjoy a lowerthanaverage cost of living. Tuscaloosas Cost of
Living Index is 9421, significantly below the national average of 100. Healthcare and
food prices are slightly lower than the national average as well. Gas prices are almost 15
percent lower than the national average. In Tuscaloosa, the median sales price for a
singlefamily home is slightly above $130,00022, which is low when compared to other
cities on this list.
19 U.S. Census Bureau, "Metropolitan and Micropolitan Statistical Areas." Accessed February 04, 2012.http://www.census.gov/population/metro/.20 Infoplease, "Climate of 100 Selected U.S. Cities." Accessed February 04, 2012.http://www.infoplease.com/ipa/A0762083.html.21 U.S. Census Bureau, "2012 U.S. Statistical Abstract." Accessed February 04, 2012.http://www.census.gov/compendia/statab/2012/tables/12s0728.xls.22 National Association of Realtors, "Metropolitan Area ExistingHome Prices and State ExistingHome Sales."Accessed February 04, 2012. http://www.realtor.org/research/research/metroprice.
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Healthcare
Tuscaloosas main hospital is the DCH Regional Medical Center, and it offers a full range
of healthcare services. The DCH Regional Medical Center, which is part of the DCH
Health System, has the most technologicallyadvanced trauma center in the region, and
it serves all of Western Alabama.
LocalTaxesTuscaloosa is a city in which the fiscal obligations of its residents are on par with the
national average. The State of Alabama has income tax rates between 25 percent and a
state sales tax of 4 percent. In addition, the City of Tuscaloosa charges a 2 percent local
sales tax23.
RecreationTuscaloosa is a city heavily influenced by the student population of the University of
Alabama. One in three residents of Tuscaloosa is a student, which is why activities
related to the University of Alabama and its athletic programs, especially the mens
football team, are the main attractions in Tuscaloosa. The city also has various cultural
attractions such as historical sites and museums like the Alabama Museum of Natural
History and the Paul W. Bryant Museum.
OverallScoreTuscaloosa can be an attractive option for retirees due to the citys comfortable climateand low cost of living. The healthcare system is small but adequate, and local taxes do
not present a disadvantage.
Recreationaloptionsarenotnumerousandindividualsinterestedintheoceanand beaches will have to drive almost
fourhourstogetthere.
23 City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/uscities/thesouth/Tuscaloosa.html.
OverallScore andScoreScore 98
%ofpossibletotalpoints 82%
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5. Atlanta,GeorgiaAtlanta is one of the biggest
and most dynamic cities in
the southern United States.
Atlantas metropolitan area
has a population of over 5
million residents24. Atlanta
can offer retirees an
outstanding healthcare
system that is nationally
recognized and a cost of
living that is slightly below
the national average. Thecity also offers numerous
recreational options ranging from cultural attractions to professional sports teams.
ClimateLike many cities, Atlanta also experiences the four seasons. Warm months can bring
high temperatures over 90 degrees, and there is precipitation on more than 100 days
out of the year25. Winter months can bring temperatures down to the mid 30s;
however, they average around 45 degrees. The city experiences minimal snowfall
during the winter months.
CostofLiving/HousingThe cost of living in the City of Atlanta is slightly lower than the national average. At 95,
the Cost of Living Index is below the national average of 10026. Food and gas prices are
at the same level or slightly lower than national averages. However, housing prices are
some of the lowest of any city in America. The median sales price for a singlefamily
home in Atlanta is almost $120,00027. Therefore, the city is considered to have the
most affordable major market in the U.S.
24 U.S. Census Bureau, "Metropolitan and Micropolitan Statistical Areas." Accessed February 04, 2012.http://www.census.gov/population/metro/.25 Infoplease, "Climate of 100 Selected U.S. Cities." Accessed February 04, 2012.http://www.infoplease.com/ipa/A0762083.html.26 U.S. Census Bureau, "2012 U.S. Statistical Abstract." Accessed February 04, 2012.http://www.census.gov/compendia/statab/2012/tables/12s0728.xls.27 National Association of Realtors, "Metropolitan Area ExistingHome Prices and State ExistingHome Sales."Accessed February 04, 2012. http://www.realtor.org/research/research/metroprice.
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Healthcare
Atlanta is a national leader in the healthcare field with more than 50 hospitals in its
metropolitan area. The citys hospitals have been continuously recognized as some of
the best in the country. The Grady Health System is the main healthcare provider in
Atlanta and serves the medical students and schools of Emory University and
Morehouse College.
LocalTaxesWhen comparing the fiscal obligations of Atlantas residents to those of the rest of the
country, the city finds itself in the middle of the ranks. Atlantas residents pay the
Georgia state income tax which ranges from 1 to 6 percent and a state sales tax of 4
percent. In addition, Atlantas residents must also pay a 3 percent additional local sales
tax28.
RecreationThe City of Atlanta has a wide variety of recreational amenities and activities available
to its residents. The City offers a number of museums and cultural heritage sites as well
as events and festivals such as the Dogwood and Arts Festivals and the Atlanta
Oysterfest.
The city also enjoys the presence of major sports franchises. The Falcons, the Braves
and the Hawks are franchises of the National Football League, Major League Baseball
and the National Basketball Association respectively that play their home games in the
City of Atlanta. Georgia Tech University is also located in Atlanta and fields teams in all
major collegiate sports.
Residents of the City of Atlanta that are interested in ocean activities and/or the beach
must travel approximately five hours away from the city to reach such destinations a
considerable distance.
OverallScoreAtlanta can provide retirees a leading healthcare system that offers a variety of
specialized care, a relatively low cost of living, and many recreational options are all
available in Atlanta.
28 City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/uscities/thesouth/Atlanta.html.
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Thecityssizepresentssomeproblemsfor its residents, which is one of thereasons it receives a lowerscore thanothersmaller cities. Traffic congestionisexceptionallycommoninAtlantasdailylife,andcityresidentsmayfinditdifficulttoenjoythepeaceandquietfoundinsmallercities.
OverallScoreandScoreScore
94
%ofpossibletotalpoints 78%
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6. Oxford,Mississippi(Tiedat#6)Oxford is a small city with a
population of just under 20,000
individuals29. It is located in
northern Mississippi near theTennessee border. The
population of the City of Oxford
consists mainly of young people
due to the presence of the
University of Mississippi. Oxford
can be attractive for retirees for
reasons such as a low cost of
living; however, Oxfords location, size and population composition may not best fit the
needs of a retiree.
ClimateResidents of Oxford experience the four seasons. Summer months average high
temperatures between 85 and 90 degrees, and winter months average low
temperatures in the 30s. On average, there are only small amounts of snowfall each
year and aboveaverage rainfall levels during June and July.
CostofLiving/HousingThe Cost of Living Index for Oxford, MS is 8830, significantly lower than the national
average of 100. Housing, healthcare and food prices in Oxford are all significantly lower
than national averages. Gas prices are almost 2 percent lower than the national average.
HealthcareThe City of Oxford has one main hospital, the Baptist Memorial Hospital. It offers a full
range of healthcare services for northern Mississippi residents including the Baptist
Heart Care Center, which specializes in the treatment of heartrelated ailments.
29 City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/city/OxfordMississippi.html.30 U.S. Census Bureau, "2012 U.S. Statistical Abstract." Accessed February 04, 2012.http://www.census.gov/compendia/statab/2012/tables/12s0728.xls.
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LocalTaxesThe fiscal obligations of residents of Oxford rank in the middle when compared to the
other cities on this list. Oxford residents are not obligated to pay income or sales taxes
to the city. However, they must pay the State of Mississippi a state income tax between
3 to 5 percent and a state sales tax of 8 percent31.
RecreationOxford residents can enjoy various leisure activities. The city has parks, restaurants,
cultural attractions and heritage sites. The University of Mississippi fields teams in all
major sports, which can offer a leisure alternative almost all year long. However,
individuals that enjoy ocean and beachrelated activities must travel at least six hours
to reach such destinations.
OverallScoreOxford is a small college city that can offer retirees benefits such as a relatively low cost
of living. However, the city is small and most of its population is collegeage young
adults.
Oxfordpossesses optionsfor its olderresidents: it hasparks, heritagesites,culturalattractionsandtheUniversityofMississippiseducationalandsportsactivities. However,thecityislocatedsixhoursawayfromtheoceanandbeaches.The healthcaresystem is rather limited, andsomepatients in need ofspecializedcarewouldneedtotraveltoabiggerhealthcarehub.
31 City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/city/OxfordMississippi.html.
OverallScoreandScoreScore 88
%ofpossibletotalpoints 73%
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6. Charleston,SouthCarolina(Tiedat#6)Charleston is a midsized
colonial city located on the
coast of South Carolina.
Charlestons metropolitan areahas a population of over
650,000 individuals32. The City
offers retirees a highly
regarded healthcare system
and competitive local tax rates.
The citys colonial heritage
provides a dynamic
environment full of culture and
a wide range of entertainmentoptions for its residents.
ClimateCharleston is another city that experiences the four seasons. Summers can be
extremely warm with average high temperatures reaching over 90 degrees. There is
precipitation more than 110 days out of the year33. Cold weather months experience
average low temperatures around 40 degrees, and there is little snowfall in the city.
CostofLiving/HousingCharleston offers its residents a cost of living that is close to the national average. The
Cost of Living Index for the City of Charleston is 10134 (the national average is 100). The
median sales price for a singlefamily home in Charleston is slightly above $200,00035.
However, Charlestons residents have to bear the burden of paying gas prices that are
more than 5 percent higher than the national average.
HealthcareCharlestons healthcare system consists of numerous hospitals and healthcare centers
that provide a wide range of services for the residents of eastern South Carolina. The
32 U.S. Census Bureau, "Metropolitan and Micropolitan Statistical Areas." Accessed February 04, 2012.http://www.census.gov/population/metro/.33 Infoplease, "Climate of 100 Selected U.S. Cities." Accessed February 04, 2012.http://www.infoplease.com/ipa/A0762083.html.34 U.S. Census Bureau, "2012 U.S. Statistical Abstract." Accessed February 04, 2012.http://www.census.gov/compendia/statab/2012/tables/12s0728.xls.35 National Association of Realtors, "Metropolitan Area ExistingHome Prices and State ExistingHome Sales."Accessed February 04, 2012. http://www.realtor.org/research/research/metroprice.
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Medical University of South Carolina Medical Center is the main healthcare provider in
the region, and the Medical University of South Carolina is one of the oldest medical
schools in the United States. Its facilities and personnel are equipped to offer a full
range of healthcare services to Charlestons residents.
LocalTaxesCharleston is one of the cities on our list of selected locations that does not assess city
income taxes and city sales taxes. Residents of Charleston have to pay the State of South
Carolina income and sales tax. The state income tax can vary from 3 percent to 6.5
percent, and the state sales tax rate is 6 percent36.
RecreationCharleston possesses a rich colonial heritage. The city has many cultural attractions and
is in close proximity to Francis Marion National Forest. Charleston sits next to theAtlantic Ocean on the South Carolina coast. Thus, its residents enjoy a perfect location
for ocean and beachrelated activities. The city is home to a minor league baseball team,
but no major professional sports teams are located in the State of South Carolina. The
University of South Carolinas and Clemson Universitys sports teams are located in
other cities of South Carolina.
OverallScoreCharleston, SC is a city full of heritage and destinations of historical importance. It is a
city that can offer retirees an adequate healthcare system and competitive local taxrates. The city has many recreational options and is located on the Atlantic coast.
Charlestonreceivesalowerscoreasitsclimatecanbecold inthewinter.Costoflivingisaverageatbest.
36 City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/uscities/thesouth/Charleston.html.
OverallScoreandScoreScore 88
%ofpossibletotalpoints 73%
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8. Louisville,KentuckyLouisville is located in the heart of
the midwestern United States.
Slightly over 1 million people inhabit
the citys metropolitan area.
Louisville offers retirees a low cost
of living and many entertainment
alternatives. Climate is not a strong
point for Louisville, and local taxes
are average when compared to the
other cities on this list.
ClimateThe City of Louisville is located in the heart of the midwestern United States, which is
why it experiences a continental climate. Louisvilles climate is characterized by
temperature differences between seasons. Louisville has very cold months with low
temperatures reaching less than 25 degrees with little snowfall and summer months
with average high temperatures reaching 90 degrees37.
CostofLiving/HousingLouisville is another low cost city found on our list of the top cities to retire. Louisvilles
Cost of Living Index is 90, significantly lower than the national average. This isreflected in lower food, healthcare and housing prices. The median price for a single
family home in Louisville is below $135,00038. On the other hand, gas prices are about 2
percent higher than the national average.
HealthcareThe City of Louisville offers an adequate healthcare system for its residents. There are a
number of specialized centers such as the Caritas Medical Center that offers a wide
range of expertise in different healthrelated disorders such as cancer and diabetes.
37Infoplease, "Climate of 100 Selected U.S. Cities." Accessed February 04, 2012.http://www.infoplease.com/ipa/A0762083.html.38 National Association of Realtors, "Metropolitan Area ExistingHome Prices and State ExistingHome Sales."Accessed February 04, 2012. http://www.realtor.org/research/research/metroprice.
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LocalTaxesLouisville has a tax environment that is best described as average. The city is in the
State of Kentucky, which assesses a state income tax between 2 6 percent and a state
sales tax of 6 percent. Additionally, Louisville residents must pay a 1.75 percent local
sales tax39.
RecreationIt can be said that Louisvilles most famous attraction is Churchill Downs, the
horseracing track where the Kentucky Derby is held every year. There are other
cultural attractions such as historical monuments and buildings. The city is home to the
River Bats, a tripleA baseball team. The University of Louisville Cardinals also fields
teams in all major sports; however, the Universitys men basketball team captures most
of the attention. For the wouldbe retirees who are interested in the ocean and beaches,
Louisville would not be attractive to them as the ocean and beaches are many miles
away.
OverallScoreLouisville can be attractive for some individuals looking for a retirement destination.
The city offers a low cost of living and an adequate healthcare system. On top of that,
Louisville has been ranked among the safest cities in America for many years40.
Louisvilles drawbacks are the citysclimate, which consists of intense
summers and winters, average localtax rates and thesignificant distancebetweenthecityandtheoceanandbeaches.
39 City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/uscities/thesouth/Lousville.html.40 "Ten safest U.S. cities? Winners may surprise you." USAToday, September 28, 2010.http://content.usatoday.com/communities/greenhouse/post/2010/09/safestuscitiesmaysupriseyou/1(accessed February 18, 2012).
OverallScoreandScoreScore 82
%ofpossibletotalpoints 68%
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9. Richmond,Virginia(Tiedat#9)Richmond is located in eastern
Virginia. The population of
Richmonds metropolitan area is
more than one million
individuals. The City of
Richmond can offer retirees a
good healthcare system and a
wide variety of entertainment
options. However, cost of living
in Richmond is higher than most
of the other cities on this list, and
local taxes are around thenational average.
ClimateThe City of Richmond experiences all four seasons. However, its climate can be best
described as having cold winters and mild summers. Typically, there is precipitation on
more than 100 days41 out of the year. Warm months have average temperatures
between 75 and 80 degrees. The winter months have an average temperature in the
mid 30s, and the city averages only small amounts of snowfall each year.
CostofLiving/HousingRichmonds residents endure a relatively high cost of living. The Cost of Living Index for
Richmond is 10742, above the national average of 100. This is reflected in the median
sales price for a single family home, which is over $223,00043 and the relatively high
price of healthcare services, food and other goods. Gas prices in Richmond are typically
around the national average.
HealthcareRichmond has a recognized healthcare system with a strong reputation. This system
includes more than 18 hospitals within the Richmond metropolitan area. The Virginia
Commonwealth University Center is one of the largest healthcare providers in the state.
41 Infoplease, "Climate of 100 Selected U.S. Cities." Accessed February 04, 2012.http://www.infoplease.com/ipa/A0762083.html.42 U.S. Census Bureau, "2012 U.S. Statistical Abstract." Accessed February 04, 2012.http://www.census.gov/compendia/statab/2012/tables/12s0728.xls.43 National Association of Realtors, "Metropolitan Area ExistingHome Prices and State ExistingHome Sales."Accessed February 04, 2012. http://www.realtor.org/research/research/metroprice.
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Also, Richmonds hospitals are national leaders in neuroscience research and heart
bypass surgery44.
LocalTaxesRichmond ranks in the middle of our list of selected cities when evaluating the level of
tax its residents pay. The city is located in the State of Virginia, which assesses a state
income tax with a rate between 2 percent to 5.75 percent and a state sales tax of 4
percent. The City of Richmond does not have an additional income tax, but it does
charge a 1 percent sales tax45.Recreation
Richmond is a city full of history and is home to more than 100 tourist and visitor
destinations that range from historical battlegrounds found in the National Battlefield
Park to colonialtime houses and buildings. The city also offers other cultural andrecreational amenities such as the Richmond Symphony, a number of ballet companies,
the citys planetarium and many of museums. Richmond is host to a tripleA baseball
team and the sports teams for the University of Virginia Commonwealth. In addition,
the city also hosts two NASCAR races each year at the Richmond International
Speedway. Residents that want to enjoy the ocean and beaches will have to drive a little
over two hours to Virginia Beach.
OverallScoreRichmond can be best described as an average city for retirees. It offers some amenities,
but nothing that makes it superior to the other cities on this list.
Richmonds cost of living is higherthan the national average. Thecitys local taxes and climate areaverage.
44 City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/uscities/thesouth/richmond.html.45 Ditto.
OverallScoreandScoreScore 78
%ofpossibletotalpoints 65%
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9. Pittsburgh,Pennsylvania(Tiedat#9)Pittsburgh is a city located
in western Pennsylvania
with more than 2 million46
individuals living in its
metropolitan area. The city
has experienced dramatic
changes over the recent
decades as it has
transformed itself from an
industrial town heavily
dependent on low skill jobs
to a knowledge city withstrong industry clusters in fields such as science and technology. Pittsburgh has many
positive attributes such as a low cost of living and outstanding healthcare institutions,
which makes it an attractive city for retired individuals.
ClimatePittsburghs climate is predominantly cold year round. The city experiences mild
summers and very cold winters. Warm months have average temperatures in the mid
70s, and there is precipitation during more than 150 days47 out of the year. The winter
months average temperatures are below 28 degrees, and the city endures large
amounts of snowfall each year.
CostofLiving/HousingThe City of Pittsburgh offers its residents a lowerthanaverage cost of living. In fact,
Pittsburgh is one of the cities on our selected list with the lowest cost of living. The Cost
of Living Index for Pittsburgh is 9048 (the national average is 100). Additionally, median
sales price for a singlefamily home in Pittsburgh is slightly over $120,00049. One of the
46 U.S. Census Bureau, "Metropolitan and Micropolitan Statistical Areas." Accessed February 04, 2012.http://www.census.gov/population/metro/.47 Infoplease, "Climate of 100 Selected U.S. Cities." Accessed February 04, 2012.http://www.infoplease.com/ipa/A0762083.html.48U.S. Census Bureau, "2012 U.S. Statistical Abstract." Accessed February 04, 2012.http://www.census.gov/compendia/statab/2012/tables/12s0728.xls.49 National Association of Realtors, "Metropolitan Area ExistingHome Prices and State ExistingHome Sales."Accessed February 04, 2012. http://www.realtor.org/research/research/metroprice.
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few factors that negatively influence the cost of living for Pittsburgh are gas prices,
which are almost 2 percent higher than the national average.
Healthcare
Pittsburgh offers a highly regarded healthcare system for its residents. The Universityof Pittsburgh Medical Center (UPMC) consists of more than 20 hospitals in the region
and offers a full range of medical services including specialized research and surgical
centers. The UPMC system has been ranked among the top healthcare systems in the
United States for many years.
LocalTaxesThe City of Pittsburgh is not an attractive choice for those retirees looking to pay the
lowest tax rates available. The State of Pennsylvania has a state income tax rate of 3
percent and a state sales tax of 6 percent. In addition to these taxes, the City of
Pittsburgh also assesses its residents a local income tax with a rate of 3 percent and a
local sales tax of 1 percent. The combination of state and local taxes in Pittsburgh is a
significant negative factor that should be considered by individuals deciding where to
live when they retire.
Recreation
The City of Pittsburgh offers a variety of recreational amenities for its residents. There
are historical monuments and buildings as well as many other cultural attractions
spread throughout the city, such as Point State Park, the Pennsylvania Station and the
University of Pittsburghs Cathedral of Learning50. The city is home to the renowned
Pittsburgh Symphony Orchestra and a number of performing arts centers.
One of the citys main recreational attractions includes its sports teams. The National
Football Leagues Pittsburgh Steelers, Major League Baseballs Pittsburgh Pirates and
the National Hockey Leagues Penguins play their home games in Pittsburgh. In
addition, the University of Pittsburgh also fields teams in all major American sports.
There are state parks with lakes within a few hours from the city; however, individualsinterested in the ocean and beaches would have to drive approximately three hours
away from the city. It must be noted that many of these recreational activities are
limited since they are only available during warm weather months.
50City Data, "U.S. Cities." Accessed February 04, 2012. http://www.citydata.com/us
cities/thenortheast/Pittsburgh.html.
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OverallScoreThe City of Pittsburgh can be an attractive alternative for retirees. It offers a low cost of
living coupled with a good healthcare system and numerous recreational options.
Pittsburgh can be a good option for individuals interested in sports and cultural
activities who do not mind the cold weather or do not need to be within close proximityto the ocean or beaches.
Pittsburghs climate is cold most oftheyear.Thecity isnot locatedcloseto the ocean, and local taxes canbecome a heavy burden for itsresidentsincomparisontotheothercitiesonthislist.
OverallScoreandScoreScore 78
%ofpossibletotalpoints 65%
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TheWashingtonEconomicsGroup,Inc. WhitePaper |Page30
WEGsAnalysisdemonstrates
thatbasedontheMason-
Dixonsurveyresults,thecity
withthemostdesirablesetof
characteristicsforretiring
BabyBoomersis
Tallahassee,Florida.
Tallahasseepossessestheright
combinationoffeaturesthat
makeitanidealdestination
forretirees.
Conclusion
Close to 80 million individuals in the U.S. will soon be making choices regarding their
retirement, and one important decision will be the city or town in which they choose to
reside. In this White
Paper, The Washington Economics Group developed amethodology that ranked cities based on a number of factors extracted from the results
of the MasonDixon survey among Baby Boomers regarding their retirement
preferences.
The survey asked participants about different features and characteristics they wished
to find in the city they chose to retire. Additionally, the survey asked which factors were
most important when deciding where to reside. The results of the MasonDixon survey
show that Baby Boomers place a high value on some characteristics of the city where
they choose to spend their retirement years, while other factors are not as important.There are five main factors that Baby Boomers highly consider when choosing where
to live, and these factors were analyzed in detail in this WhitePaper. They are: climate,
cost of living, quality and affordability of available healthcare services, local taxes and
recreational amenities. WEG developed a methodology that ranked all 20 cities on the
list based on scoring each factor for each city and included a detailed analysis for each
one of the Top 10 cities.
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TheWashingtonEconomicsGroup,Inc.
Table2.ScoresforCityFactors
Weight 10 8 6 4
City Climate CostofLiving/Housing HealthCare LocalTa
Tallahassee,FL
4
3
4
4
Memphis, TN 3 4 4 4
Athens, GA 3 4 4 3
Tuscaloosa, AL 4 3 3 3
Atlanta, GA 3 3 4 3
Oxford, MS 3 4 2 3
Charleston, SC 3 2 4 3
Louisville, KY 2 3 4 3
Richmond, VA 2 2 4 3
Pittsburgh, PA 1 4 4 2
RaleighDurham, NC 2 2 4 3
Indianapolis, IN 2 4 4 2
Lexington, KY 2 3 2 2
Toledo, OH 1 4 3 1
Cleveland, OH 1 3 4 1
Boston, MA 1 1 4 3
Milwaukee, WI 1 2 4 2
Washington, DC 1 1 4 2
Philadelphia, PA 1 1 4 2
New York, NY 1 1 4 1
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TheWashingtonEconomicsGroup,Inc.
Table3.OverallScoresforCities
Weight: 10 8 6 4 2
Rank City ClimateCostof
Living/HousingHealthcare
Local
TaxesRecreation
1 Tallahassee,FL 40 24 24 16 8
2 Memphis, TN 30 32 24 16 4
3 Athens, GA 30 32 24 12 4
4 Tuscaloosa, AL 40 24 18 12 4
5 Atlanta, GA 30 24 24 12 4
6 Oxford, MS 30 32 12 12 2
6 Charleston, SC 30 16 24 12 6
8 Louisville, KY 20 24 24 12 2
9 Richmond, VA 20 16 24 12 6
9 Pittsburgh, PA 10 32 24 8 4
11 RaleighDurham, NC 20 16 24 12 4
11 Indianapolis, IN 10 32 24 8 2
13 Lexington, KY 20 24 12 8 2
13 Toledo, OH 10 32 18 4 2
15 Cleveland, OH 10 24 24 4 2
16 Boston, MA 10 8 24 12 6
16 Milwaukee, WI 10 16 24 8 2
18 Washington, DC 10 8 24 8 6
19 Philadelphia, PA 10 8 24 8 4
20 New York, NY 10 8 24 4 6
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TheWashingtonEconomicsGroup,Inc. WhitePaper/Page33
APPENDIX:THEWASHINGTONECONOMICSGROUPQUALIFICATIONS
ANDPROJECTTEAM
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TheWashingtonEconomicsGroup(WEG) has been successfully meeting client objectives
since 1993 through economic consulting services for corporations, institutions and
governments of the Americas. We have the expertise, highlevel contacts, and business
alliances to strengthen your competitive positioning in the growing marketplaces of Florida
and Latin America.
Our roster of satisfied clients, over the past eighteen years, includes multinationalcorporations, financial institutions, public entities, and nonprofit associations expandingtheir operations in the Americas.
EXCLUSIVECONSULTINGAPPROACH:
Each client is unique to us. We spend considerable time and effort in understanding the
operations, goals, and objectives of clients as they seek our consulting and strategic advice.
We are not a massproduction consulting entity nor do we accept every project that comes
to us. We engage a limited number of clients each year that require customized consulting
services in our premier areas of specialization. These premier and exclusive services are
headed by former U.S. Under Secretary of Commerce, Dr. J. Antonio Villamil, with over thirty
years of experience as a business executive and as a senior public official of the U.S. and
most recently of Florida.
PREMIERCONSULTINGSERVICES:Comprehensive Corporate Expansion Services. Our seamless and customized serviceincludes site selection analysis, development of incentive strategies and community and
governmental relations.
EconomicImpactStudies highlight the importance of a client's activities in the generationof income, output and employment in the market area serviced by the entity. These studies
are also utilized to analyze the impact of public policies on key factors that may affect a
client's activities such as tax changes, zoning, environmental permits and others.
Strategic Business DevelopmentServices. These services are customized to meet clientobjectives, with particular emphasis in the growing marketplaces of Florida, Mexico, Central
and South America. Recent consulting assignments include customized marketing
strategies, country risk assessments for investment decisions and corporate spokesperson
activities and speeches on behalf of the client at public or private meetings.
ForafulldescriptionofWEGcapabilitiesandservices,
pleasevisitourwebsiteat:
www.weg.com
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TheWashingtonEconomicsGroup,Inc.
RepresentativeClientList
1993-2011
MULTINATIONALCORPORATIONS
Lockheed Martin FedEx Latin America IBM Motorola SBC Communications Ameritech International Lucent Technologies MediaOne/AT&T Joseph E. Seagram & Sons, Inc. (Vivendi) Microsoft Latin America Carrier Medtronic Phelps Dodge Esso InterAmerica Visa International MasterCard International Telefonica Data Systems Bureau Veritas (BIVAC) Merck Latin America DMJM & Harris Wilbur Smith Associates PBSJ
FINANCIALINSTITUTIONS
International Bank of Miami Pan American Life ABNAMRO Bank Barclays Bank Lazard Freres & Co. Banque Nationale de Paris HSBC/Marine Midland Fiduciary Trust International Sun Trust Corporation First Union National Bank (Wachovia) Union Planters Bank of Florida (Regions) Bank Atlantic Corp. Hemisphere National Bank BankUnited, FSB Mercantil Commercebank N.A. PointeBank, N.A. The Equitable/AXA Advisors
PUBLICINSTITUTIONS,NON-PROFITORGANIZATIONS&UNIVERSITIES
Baptist Health Systems Jackson Health Systems MiamiDade Expressway Authority MiamiDade College Miami Museum of Science Zoological Society of Florida Florida International University University of Miami InterAmerican Development Bank (IDB) United Nations Economic Development Program (UNDP) UniversidadPolitcnicadePuertoRico SistemaUniversitarioAnaG.Mndez(SUAGM) Keiser University Full Sail Real World Education Florida Ports Council Florida Sports Foundation Florida Citrus Mutual Florida Nursing Homes Alliance Florida Bankers Association Florida Outdoor Advertising Association City of Plantation City of West Palm Beach Econ. Dev. Commission of Lee County Econ. Dev. Commission of MiamiDade (Beacon Council)
Econ. Dev. Commission of MidFlorida Jacksonville Chamber of Commerce SW Florida Regional Chamber of Commerce Enterprise Florida, Inc. The Beacon Council Visit Florida Louisiana Committee for Economic Development University of South Florida/ENLACE Space Florida State of Florida
FLORIDA-BASEDCORPORATIONS
Sprint of Florida Florida Marlins FloSun Sugar Corp. Farm Stores
The BMI Companies Spillis Candela & Partners The Biltmore Hotel/Seaway Trammel Crow Company Advantage Capital WCI Development Companies Iberia Tiles Florida Hospital Mercy Hospital The St. Joe Companies Florida Power & Light (FPL) International Speedway Corporation
LATINAMERICA-BASEDINSTITUTIONS
Federation of InterAmerican Financial Institutions(FIBAFIN)
The Brunetta Group of Argentina Association of Peruvian Banks Peruvian Management Institute (IPAE) MercantilServiciosFinancieros, Venezuela AlliedDomecq, Mexico Fonalledas Enterprises
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J.ANTONIOTONYVILLAMILPrincipal Advisor, The Washington Economics Group (WEG).Dean, School of Business of St. Thomas University of Florida
Tony Villamil has over 30 years of successful career as a business economist, universityeducator and highlevel policymaker for both federal and state governments. He has servedas a Presidential appointee U.S. Undersecretary of Commerce for Economic Affairs, and he isthe founder of a successful economic consulting practice, The Washington EconomicsGroup, Inc. (WEG). Since August 2008, Tony is the Dean and Research Professor ofEconomics at the School of Business of St. Thomas University, while continuing to serve asPrincipal Economic Advisor to the clients of WEG.
Tony is a recent member of the Presidents Advisory Committee on Trade Policy andNegotiations in Washington, D.C. He is the immediate past Chairman of the GovernorsCouncil of Economic Advisors of Florida, and during 19992000, he directed the Tourism,International Trade and Economic Development Department of the State in the Office of
Governor Jeb Bush. Presently, he is on the Board of Directors of the Spanish BroadcastingSystem (NASDAQ), Mercantil Commercebank, N.A., PanAmerican Life Insurance Group(PALIG) and Enterprise Florida the States principal economic development organization.
Among other leadership positions, he is currently Chairman of the Economic Roundtable ofthe Beacon CouncilMiamiDade Countys official economic development organization. Healso serves as Senior Research Fellow of Florida TaxWatch, an established fiscal and policyresearch organization of the State. Tony is a member of the Superintendents BusinessAdvisory Council of MiamiDade County Public School System; one of the largest schoolsystems of the nation.
Mr. Villamil earned bachelor and advanced degrees in Economics from Louisiana State
University (LSU), where he also completed coursework for the Ph.D. degree. In 1991,
Florida International University (FIU) awarded him a doctoral degree in Economics (hc), for
distinguished contributions to the Nation in the field of economics. He speaks frequently
to business, government and university audiences on economic topics, and was until the
summer of 2008 a member of the Graduate Business Faculty of Florida International
University (FIU).
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PabloCepeda
Associate Consultant for Economics
Pablo Cepeda is an Associate Consultant for Economics at The Washington EconomicsGroup (WEG). In this role, Pablo serves as an economic consultant to WEG clients, providingexpert economic analysis for business and public policy decisionmaking.
Pablo received his Bachelors of Science Degree in Economics and International Affairs andhis Masters Degree in Applied Economics from Florida State University.
The Washington Economics Group, headquartered in Coral Gables, Florida, has beensuccessfully meeting client objectives since 1993 through strategic consulting services forcorporations and institutions based in the Americas. The Group has the expertise, highlevelcontacts, and business alliances to strengthen a firms competitive position in the rapidlyexpanding market places of Florida and Latin America.
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Mary Snow is the Managing Director of Client Services at The Washington Economics Group,Inc. (WEG). She serves as WEGs client liaison, working with clients to facilitate their businessinterests and achieve their goals.
Prior to joining WEG, Mary was a governmental consultant for Robert M. Levy & Associates withoffices in Miami and Tallahassee. She represented clients interests at the local level and to theState Legislature.
Mary received her undergraduate degree in Political Science with a minor in Education fromFlorida State University. Mary is a resident of Coral Gables, Florida.
HAYDEEM.CARRIONExecutive and Senior Research Assistant
Ms. Carrion has been Executive Assistant to Dr. Villamil since the firms founding in 1993. Ms.Carrion is a specialist in multimedia presentations and in the preparation and design of reports anddocuments for clients.
She also is the Senior and Project Research Assistant and has extensive experience in thepreparation of electronic data, presentation of quantitative information, Internet research anddesktop publishing.
Haydee has been with WEG for 17 years. Ms. Carrion holds AA and AS degrees in BusinessAdministration and Office System Technologies from MiamiDade College. Haydee is a resident ofMiamiDade County.
MARYSNOWManaging Director of Client Services