Dr. David Bronner is revered by our Alabama governmental employees, especially retired state workers. Dr. Bronner has overseen the administration and investments of the Retirement Systems of Alabama (RSA) for 53 years. To say that he has done a spectacular job would be a very pronounced understatement.

Dr. Bronner has been a genius as an investor and innovator. However, his most innovative venture was the creation of the Robert Trent Jones Golf Trail. It was one of the most win, win ventures ever seen with tax dollars. First of all, it is one of the state’s largest tourists’ attractions. Secondly, it made money the first year and has grown exponentially every year for over 40 years.

Mark Fagan, the outstanding spokesperson for the magnificent golf trail, wrote a book published by New South Books a decade ago entitled, “The Robert Trent Jones Golf Trail – It’s History and Economic Impact.” It is a beautiful coffee table masterpiece. The book documents, in script and photos, the Retirement Systems of Alabama’s Golf Trail. Included is an in depth economic analysis of the impact of this historical project. There has been no other development activity in Alabama over the last 40 years that has contributed more to the history, economy, and image of the entire state than the golf trail project.

The pension funds RSA investment, a string of elite golf courses and affiliated high-end hotels and spas, in business-speak, was an economically targeted investment. It was designed to diversify returns and create jobs. It has done more than that. It has significantly increased Alabama’s infrastructure for tourism and conventions, provided millions upon millions in tax revenues, it has enhanced our state’s image, and helped persuade other businesses to locate in the state.

In the December issue of the RSA newsletter, Mark Fagan highlights the continued importance of the RTJ Golf Trail and how it is helping Alabama become a move-in state. Fagan explained how in 1990, U.S. retirees were one–fourth of the population, yet owned 77% of the personal financial assets. These retirees accounted for 70% of pleasure travel dollars. Many were migrating to other states for retirement, and their spending was creating jobs in real estate, financial services, healthcare, recreation, insurance, and retail, while not causing a negative strain on the state education system, social services, criminal justice system, or environment. This positive economic impact attracted many towns and states to recruit these retirees to their area.

Tourism areas were evolving into retirement areas, and retirees were becoming permanent tourists in their area of relocation. Thus, in 1990, the RSA had the foresight to begin the development of world-class golf courses and hotels to attract tourists and retirees and improve the quality of life to promotecorporate expansion in Alabama. These 26 public golf courses were designed by Robert Trent Jones, Sr. and became known as The Robert Trent Jones Golf Trail.

The Trail has evolved into 11 golf complexes, with 8 resort hotels, 6 world-class spas, 2 complete resort communities, and numerous restaurants/lounges

In 1995, the RSA began marketing the Trail nationally by purchasing over 45 television stations and 100 local newspapers. These investments provide the RSA with millions of dollars of free advertising each year to promote the Trail and other Alabama attractions. Without this media acquisition, the cost of these ads for the last 30 years would have totaled more than $1 billion. As a result of the advertising, millions of people from all 50 states and over 20 countries have visited Alabama to play golf on the Trail.

According to the United Van Lines 48th Annual National Movers Study of inbound/outbound states for 2024, Alabama has moved up the list of higher-percentage inbound mover states since 2002. As of 2024, Alabama has reached number 6 on the list of states with the highest percentage of inbound movers. Each retiree household moving into Alabama has the same positive economic impact on the state as almost 4 factory jobs.

See you next week.