Besides high-tech oil, and fishing industries, St. Tammany may soon become the state’s leader in an up-and coming industry dealing with retirees.

That is the hope of Irma Cry, Business Development Liaison with St. Tammany Parish, and chairman of the Louisiana I-12 Retirement District.

Cry, speaking at the Wednesday luncheon of the East St. Tammany Chamber of Commerce said that retirement is a major economic development for the country and the parish, and that St. Tammany, St. Helena, Washington, and Tangipahoa parishes are perfectly suited for retirees. She said that 76 million baby boomers will be turning 55 or older in the next several years, and as they retire, they become a viable, booming market.

“There will be an 80 percent increase in the elderly population over the next 25 years,” Cry said. “And retirees today are richer, more active, and live longer than any generation in our history.”

The population of people 55 or older own 79 percent of the national assets, have 80 percent of the money in banks and investment accounts, own 62 percent of the stocks traded on Wall Street, and make up 40 percent of the nation’s consumer demand. Cry said that retirees spend nationally, $18 billion in gifts for grandchildren, $18 billion in women’s clothing, and are responsible for 43 percent of the car sales in the country.

“An individual retiree over 55 injects $35,000 annually into the local economy,” Cry said.

Back in 1997, then Lt. Gov. Kathleen Blanco set up a Retirement Task Force to see how the state could get a handle on all that money. The task force resulted in 2001 legislation that created the East Florida Parishes Retirement District. Later the name was changed to the Louisiana I-12 Retirement District, because, as Cryer said, “nobody in the country knew where the Florida parishes were located.”

St. Tammany Parish is already ahead of the game in welcoming retirees, Cry said. There are two big retirement communities already in place, and a third one is being built just outside Slidell.

The area is conducive for retirees, Cry said. Louisiana has a low cost of living, we have good weather, and St. Tammany is what she called, “wealth and retiree-friendly.” There is also educational benefits for retirees in the state. Anybody over 55 can attend classes for free in the Louisiana University System.

“The benefits are it is a good clean business, it is recession proof, and is not a large burden on the infrastructure,” Cry said.

Plus bringing in retirees will stop our decline in population, and create jobs.

For every retirement community that is built, $10 million is put in the local economy, $1 million is spent on taxes, 216 construction jobs, and 67 permanent jobs are created.

Cryer and the Louisiana 1-12 Retirement District are now on a public relations campaign to attract retirees to the area.

They are mailing letters to retirees who went to Southeastern Louisiana University, and to alumni who attended LSU and UNO.

The Florida parishes governments are all on board, donating 50 cents per person in the parish to the retirement district.

The Louisiana I-12 Retirement District meets every second Thursday of the month at 10 a.m. in the Small Business Department at SLU.

For more information on the district, visit their Web site at www.lai-12retirement.org, or www.retire.louisiana.org.