Frankford officials recently met with financial mind Marty Presley, a resident of the town, concerning their efforts to put a pension plan in place for Town employees.
Presley apparently offered council members in attendance a list of options the Town could consider to put in the plan, and a wealth of information for them to take under advisement. He also offered a bit of information, via the U.S. Bureau of Labor, that jumped out to us right away.
The per capita income for Town of Frankford employees is $42,250, which is 240 percent higher than the average Frankford resident’s income of $17,580.
Now, it’s important to remember that “per capita” means, “per person,” or “per head,” in its Latin roots. That means children too young to work, retirees and others who might be working “under the table” are taken into consideration in that number, whereas “per capita” of Frankford employees is restricted solely to people who obviously have current employment.
That being said, the World Bank lists the per capita income of the United States from 2009-13 as $53,143 — that’s significantly more than the average Frankford resident, and a good bit more than a Frankford employee. And it also has the same issues in that number that we stated earlier. It is that number that offers us a little concern.
People have been saying for years that the future livelihood of our general community will be dependent on attracting employers who will offer higher-salary jobs to the area. That, in turn, will result in houses being sold for higher prices and in a more timely manner, restaurants and shops attracting more customers and the increase in tax rolls would provide an injection in infrastructure projects that need help.
There have also been concerns from many longtime residents that some of our brightest youth often leave this community for good after college because of a dearth of higher-end jobs.
The sky is not falling, by any means. This area is strong. But we must attract new business to move forward in the future.