Baby Boomers propel ‘longevity economy’ as assisted living spend soars

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The assisted living industry had a roughly $5 billion impact on the Massachusetts economy in 2015, and that number could swell as the large Baby Boomer population seeks alternatives to nursing home care, an industry report found.

A report commissioned by the Massachusetts Assisted Living Association (Mass-ALA) and released Tuesday, Sept. 13, found the state’s roughly 240 licensed assisted living facilities spent $2.7 billion in 2015 on things like construction and operations, and accounted for another $2.26 billion in indirect economic contributions, for a total $4.96 billion impact on the state economy.

Elder Affairs Secretary Alice Bonner speaks about the booming assisted living industry.

Antonio Caban / State House News Service

Elder Affairs Secretary Alice Bonner speaks about the booming assisted living industry.

Assisted living facilities also contributed more than $218 million in state and local taxes last year and another $492 million in federal taxes, the report concluded.


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