Colorado often is perceived as a youthful state with lots of young people. Although the 25-to-44-year-old age group is numerically the largest, the 65-and-older segment is the fastest-growing part of the state’s population, according to the State Demography Office.
In 2023, nearly a million Coloradans were 65 and older, and that number is projected to grow to more than 1.18 million in 2030.
“Colorado is the third-fastest aging state in the U.S.,” says Penny Whitney, a commissioner representing El Paso County on the Colorado Commission on Aging and a member of the Pikes Peak Commission on Aging. “And the fastest-growing population within the 65-plus is the 85-year-olds.”
According to the American Association of Retired People (AARP), 87% of adults 65 and older want to remain in their homes as they grow older.
Products and services for aging in place will be “an increasing economic sector in our region and across the United States,” says Tatiana Bailey, founder and executive director of Data-Driven Economic Strategies.
Home healthcare and home modification businesses already are feeling pressure to keep up, and the opportunities for new and expanded businesses and employment in many other areas are growing.
Home healthcare
Home healthcare practitioners at all levels, from certified nursing assistants to registered nurses, are needed now, says Carmen Luttrell, director of nursing at Pikes Peak State College. Home health agencies, the primary employers of home healthcare practitioners, will increase in number and size, she says.
Although PPSC has no specific geriatric program, care of the elderly is incorporated into the college’s nursing programs. Students in the nursing assistant program complete 30 hours of clinical experience in long-term care, says Ilene Herrera, program coordinator of the nursing assistant program. Students in the nursing program complete 90 hours in a long-term care facility.
“Out of every 10 students, at least four or five are interested in working in the long-term care area or in home health,” Herrera says.
A practical nursing program PPSC is developing will cover topics including the aging process, safe transfer and assistance with activities of daily living, she says.
The demand for physicians and nurse practitioners who specialize in gerontology and smart health-tracking devices also will grow, Bailey says.
“Smart pill dispensers, prescription delivery services, even in-home lab testing — I think all of those are going to increase,” she says.
Home modifications
The high price of living in an independent or assisted living facility, which can cost more than $5,000 a month, is one factor keeping older people in their homes. Home modifications can be less expensive than moving to a retirement community.
According to Aging in Place in the United States and Colorado Springs, a report that Bailey’s company prepared for the Pikes Peak Housing Network, 9 out of 10 older adults live in homes that have not been modified to keep them safe.
Home modification companies have been increasing in number in the past decade, but there is still a huge and growing need for these services, says Phil Stafford, owner of Independent Home Living.
Stafford, who had a career in healthcare and home medical equipment, started making modifications for neighbors and acquaintances in the 1980s after word got around that he had installed railings in his mother’s home. He continued to do corporate healthcare work after opening Independent Home Living in 2009 and now focuses his energy full time on the home modification business.
“What I do specifically is fall prevention and consulting with homeowners and often their families on aging-in-place solutions,” he says. His business has grown consistently, mostly through referrals.
Modifications older adults will need range from grab bars and railings to stairlifts, better lighting, ramps and more extensive renovations such as wider hallways, roll-in showers and lower kitchen counters with space below to accommodate seating.
Career opportunities
Older people who stay in their homes will need personal services such as cleaning out gutters, running errands, cooking and light housekeeping, says Melissa Marts, program development administrator at the Pikes Peak Area Agency on Aging. They will need to find reliable and trustworthy people to perform those chores.
The website care.com can help people who perform these services connect with those who need them.
“My agency is putting together a list of volunteers who will help people with things like snow shoveling and yard work,” Marts says, and there are business opportunities as well.
Families often are overwhelmed when trying to coordinate their elder members’ medical, financial and daily needs, says Kimberly Humphrey, lecturer in Health Sciences at the University of Colorado Colorado Springs Beth-El College of Nursing and Health Sciences and senior fitness instructor at the Lane Center for Academic Health Sciences.
Occupational therapists and aging-in-place specialists can make home safety assessments and recommendations for modifications, Humphrey says. She also sees demand growing for subscription-based home maintenance businesses.
Other areas that will offer business and employment opportunities include:
- Technology products and services — wearable devices such as fall detectors; telemedicine; voice-activated smart-home technology; and affordable digital access and tech support, including instruction on using technology.
- Transportation and mobility services — ride-sharing services with wheelchair-accessible vehicles; and nonprofits that provide free or low-cost transportation.
- Financial and legal support — specialized financial planners; elder law and estate planning services; fraud protection planning; and education to prevent financial abuse and scams.
- Meal services and grocery assistance — subscription-based healthful meal delivery; and personalized grocery shopping services.
- Leisure, travel and educational services.
- Workforce and training programs.
Developing the workforce to support the aging population will require innovative educational programs including JAWS (Jumpstarting Aging Workforce Solutions), a UCCS initiative that introduces young adults to career opportunities in long-term care, including for people aging in place. Humphrey serves as JAWS practicum supervisor. Whitney’s consulting firm, Aponi Partners, developed the proposal that won a $150,000 grant from El Paso County’s American Rescue Plan Act funding to address the county’s long-term care workforce shortage.
“We’ve had over 250 students experience JAWS programming — that translates to over 490 work-based hours where students are actually in long-term care,” Whitney says.
Serving the growing older population at all ages and income levels will require both business support and community efforts, Whitney says.
“On the one end, we’ve got challenges,” she says, “but at the other end, we have a huge opportunity for collaboration, working together and innovation.”
