Folks in their 30s and new retirees are in the prime ages to start businesses that grow the local economy. Communities that help by sponsoring business training, loans and technical assistance or providing quality and affordable business space with high-speed Internet can draw those with entrepreneurial dreams.

Small communities have new opportunities to draw families, according to a recent analysis by the Federal Reserve Bank of Kansas City, if they are proactive in developing their quality of life.

Success in drawing back middle-aged folks with families is important to those of us already living in small towns and surrounding areas. They start new businesses and keep existing businesses going. Many of our current business owners and their employees are nearing retirement. We need new residents to replace them if we are to retain and start businesses so rural people can earn decent incomes and build assets.

Rural areas in the nation’s heartland have lost young adults in recent years, but gained those in their 30s. Even small communities that rely heavily on agriculture have made modest gains. The analysis argues that rural communities should focus less on keeping young adults and more on attracting those in their 30s – either back home or to the community for the first time.

It stands to reason. Cities offer both higher education and the social life craved by young people. Rural communities can offer good places to raise families.

New retires are another group of potential new residents. They can more easily choose where to live rather than where to get the best job. Lower rural housing costs can stretch retirement income further. These new retirees can also help build stronger communities by providing customers to local business and a clientele to keep critical community services viable, from health care to restaurants.

But communities need to choose. If we put a priority on minimizing tax burdens and future-oriented investments, it will be difficult to draw new residents, retain business and spawn new businesses. We’ll decline inexpensively. If we choose to create a better future in our community, we’ll have to invest in it with local charitable contributions, business investments, state and federal grants and local taxes.

The key investments are those that foster local entrepreneurship and create the quality of life that draws people. Good schools and housing are essential for families. Recreation is important for all ages – ranging from indoor facilities to hiking trails along streams and others means to experience nature. Historic preservation and downtown improvements can make communities more attractive places to live and work.

Folks in their 30s and new retirees are in the prime ages to start businesses that grow the local economy. Communities that help by sponsoring business training, loans and technical assistance or providing quality and affordable business space with high-speed Internet can draw those with entrepreneurial dreams.

Few things in life are really free. If we want our community to have a future it can, but only if we invest our time and money in taking control of our destiny.

Agree or disagree? Send your opinions to Chuck Hassebrook, chuckh@cfra.org or 402.687.2103 x 1018.