New U.S. Census data indicates that only 38.2% of Cincinnati's metro area population is in their prime working years, ages 25 to 54. This ranks Cincinnati 17th among 20 peer metropolitan regions, trailing cities like Austin and Denver, which have higher percentages of this demographic.
The significance of having a substantial share of prime working-age residents lies in its correlation with economic growth, job attraction, and housing development. Cities such as Austin and Denver excel in these areas due to their high concentrations of Millennials and sustained job growth.
Cincinnati faces challenges as it ages more rapidly and struggles to attract younger residents, impacting its competitiveness for talent and investment on a national scale.
To remain competitive, Cincinnati must enhance its appeal to younger workers through several strategies:
1. Develop affordable housing in walkable neighborhoods with access to transit and cultural amenities.
2. Focus on economic development in sectors like tech, clean energy, advanced manufacturing, and healthcare.
3. Create an inclusive community reflecting diversity and belonging.
The Cincinnati Regional Chamber emphasizes the importance of these efforts for the region's long-term prosperity by attracting young professionals with its affordable living costs, cultural assets, and strong community sense.
"Cincinnati has what it takes to be a magnet for young professionals: an affordable cost of living, rich cultural assets, and a deep sense of community," states the press release from the Cincinnati Regional Chamber.