Late last year, Laurinburg/Scotland County was officially designated as a North Carolina Certified Retirement City. With our designation, there are now a total of 15 towns within the program.

Basically the program is an “attract and hand-off” marketing program. NC Commerce reaches out and promotes North Carolina to seniors/approaching seniors as a place to retire. Through advertising, trade shows, public relations and other communication efforts, the state generates interest and leads. They then pass those leads on ONLY to the certified communities for follow-up and further communications.

What is unique about the effort is that the program has been developed to specifically assist small and rural communities. In fact, the program is restricted to towns with a population of 50,000 or fewer. You will not find Charlotte, Durham, Wilmington, etc. involved. One of the reasons for this is NC Commerce has found that retirees looking to relocate are most interested in settling into a smaller town. These folks have been a “number on a freeway” for years. Now they want to be a member of a community.

From the beginning, a number of questions have been asked.

Why the program

Each year hundreds of thousands of people in the northeast retire or begin planning for their retirement. Additionally there are over 1 million retired military personnel – many of whom have cycled through Fort Bragg Army and Pope Air Force Bases. These are the folks NC Commerce and Laurinburg are reaching out to. Many of these retirees have solid pensions and are cashing out expensive homes. In fact, an independent study conducted by a Mississippi firm determined that with the types of folks we are targeting, each person that moves to a community generates over $25,000 in economic impact for that community.

Why sare local taxes used

The easy answer is because (per above) it can lead to an economic boost for Scotland County. The more accurate answer is that tax dollars comprise only a small percentage of the program’s investment. The overall five-year investment is estimated to be approximately $36,000. Of this amount, only 16% ($600/year) is coming from the city and county, 84 percent of the program is funded by private partners such as St. Andrews, Scotland Health Care System, and the Optimist.

Why Laurinburg

In our application the NC Commerce selection committee highlighted a number of factors including our healthcare system, recreational and educational opportunities for seniors, and our location. In fact, one discussion that I have found interests folks is to tell them it is a Sunday morning in September. You can head to the Panther game, spend a day at the beach, or drive to the Triangle to visit a museum. In all cases, you’re a little over 90 minutes from your target destination.

Additionally, our I-74 location provides a quick connection to I-95 and all points north and south. Laurinburg’s easy access to so many different areas is especially of interest to the retirees we are targeting. Research shows they are not looking to settle into a front porch, but to use their new home as a “base” for travel. Another interesting note is that many are looking to continue to work in some capacity – often as consultants or as small business owners – another benefit to the community they select.

One objection that a few people raised was the impact of our property tax structure. Remember, property tax is an equation, not a number. The median price for a 3-bedroom home in Laurinburg is $104,000. That equates to a property tax of $1,487. In comparison, this winter, I will spend a weekend in Parsippany, NJ at a retirement fair. In that area, the media price of a home is $460,000. City and county property tax is a combined 2.19% – which equates to an annual property tax of $10,074. It is not surprising that when Commerce informs attendees that our tax will probably result in a bill of about $1,500, the response they get is, “Monthly…Quarterly?”

Are we seeing a benefit of the program?

We joined the program in midyear last year. We are just now getting into our first full cycle. Yet data and surveys already show that three people that contacted NC Commerce as part of the program have subsequently moved to Scotland County. This means that part way through the first year the Certified Retirement Program has already created a return on investment so that the program has paid for itself. Also remember, this is a public/private partnership with the 84% of the program funded by private entities. So even better.

In addition to the City of Laurinburg, Scotland County, and the TDA, the program’s partners include: Scotia Village, Scotland Health Care System, St. Andrews University, Richmond Community College, Laurinburg/Scotland County Chamber of Commerce, Scotland County Parks and Recreation, The Optimist, Becca Hughes State Farm Insurance, First Capital Bank, First Baptist Church, WLNC – Home Town Radio, The Storytelling and Arts Center, and Quick Copy.

In closing, I would like to thank each of these partners. NC Commerce has called-out our program for having more private partners than any other community. The program’s initial and long-term success is a reflection of the interest and commitment these partners have for the economic well-being of Laurinburg/Scotland County.

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Cory Hughes

Focus on Scotland

Cory Huges, executive director of the Scotland County Tourism Development Authority, wrote this week’s Focus on Scotland, an effort by community leaders on making Laurinburg/Scotland County a better place to work, live, and play.