Smaller communities across the country have been backing up the findings we reported a few weeks ago that Social Security benefits mean a lot to them. Today we report on local stories out of Sioux City, Iowa and Otter Tail County, Minnesota.
In the Iowa story, a local paper reported that Social Security provides more than $43 million to 42,000 people in the Sioux City area each month. On average, this works out to more than $1,000 every month to Social Security beneficiaries. Other, less populous counties in Iowa are bound to benefit even more from the influx of money from Social Security. Lyon county, for example, has just shy of 12,000 residents. About a tenth of that county receives some form of Social Security benefits, bringing in over $1 million a month to the county.
In Otter Tail County, Minnesota, almost a tenth of the county’s personal income is due to Social Security benefits. Without that money, the county would lose out on nearly $180 million a year. The country’s population is 57,000, and about 15,000 receive some sort of Social Security benefit. One University of Minnesota economist estimated that, without these benefits, Otter Tail County businesses would lose 10 percent of their income, forcing many to close.
Do you receive benefits and live in a smaller community? How have Social Security benefits helped your local businesses?
Troutman & Troutman, P.C. – Tulsa Social Security disability lawyers