Watertown, NY, has a population of around 24,859 as of 2024. The population is fairly balanced, with approximately 51.8% male and 48.2% female residents. The largest age group for males is between 20-24 years, while for females, it’s 30-34 years. The median age of the population is about 34 years, indicating a relatively young community.

Sources: Data USA, Neilsberg

Watertown has a notable reputation for being a popular destination for veterans, which has been highlighted by local leadership. This influx of veterans, coupled with a relatively high ratio of businesses to the population, presents unique challenges and opportunities, particularly regarding the level of support and services available to both residents and the veteran community.

As for the local economy, top employers in Watertown include Samaritan Medical Center, Fort Drum, and the County of Jefferson. Fort Drum is particularly significant, employing nearly 15,000 soldiers and over 4,000 civilians and contractors. Other major employers include Jefferson Rehabilitation Center and New York Air Brake Corp., reflecting the town’s strong healthcare, government, and manufacturing sectors.

Sources: InfoPlease, Jefferson County Economic Development

After analyzing the top employers in Watertown, NY, it’s clear that civilian employment heavily leans on industries like healthcare, retail, and military support roles. For instance, Samaritan Medical Center employs a significant portion of the population, with healthcare workers often earning between $20 to $40/hour. The pressure this places on the healthcare system, especially as the population grows, could lead to longer waiting times and reduced access to timely care.

By analyzing the combined population of Watertown and the surrounding towns, we estimate a total population of 54,093. Many residents from nearby towns, including Carthage, Adams, Clayton, and Pulaski, rely on Samaritan Medical Center for healthcare services.

With this population growth, the strain on healthcare resources has become increasingly evident. The 37:1 ratio means that for every healthcare professional, there are approximately 37 patients needing care. This significant demand is leading to extended waiting times for appointments and treatments, impacting the ability to provide timely care.

As a result, the healthcare system, particularly Samaritan, faces challenges in managing the influx of patients from neighboring communities. This strain on the system could lead to delays in critical services, making it crucial for the community and healthcare providers to explore solutions to alleviate this burden and improve service accessibility.

Population Impact on Samaritan Medical Center

Similarly, jobs in retail, such as those at Home Depot, offer lower wages, ranging from $13 to $17/hour. Given the rising cost of living in Northern NY, including an average apartment rent of $900/month, grocery expenses of $400/month, and utilities around $150/month, many civilians are struggling with a high debt-to-income (DTI) ratio. Calculating with an average hourly wage of $15/hour, full-time workers are left with around 60% of their income going towards basic living costs. This leaves little room for savings or emergencies, pushing many residents into financial instability.

As for the educational sector, Jefferson Community College serves about 2,292 students. While it provides important access to education for many locals, the financial strain on civilians, combined with low average wages in sectors like retail and service industries, raises concerns about the long-term economic health of the area. The high DTI ratio could hinder further development, making it difficult for new businesses to thrive or for workers to invest in the community.

This financial precariousness directly impacts the ability of Watertown’s population to support further economic growth, creating challenges for both the workforce and new enterprises in the region.

Given the high debt-to-income ratios and the reality that much of the population lives paycheck to paycheck, it’s evident that services across Watertown, like healthcare and home support, are facing similar strains. For instance, with Samaritan Medical Center serving around 10 residents per employee, the same pattern can be seen in industries like home maintenance, construction, veterinary services, and even restaurants. These sectors are likely grappling with understaffing while dealing with high demand, creating further pressure on their operations.

In this environment, low-income residents are left with little opportunity to invest in starting their own small businesses. The financial and logistical barriers to creating an LLC, combined with a lack of government grants or funding, make it nearly impossible for budding entrepreneurs to establish themselves in the region.

This is where Watertown Business Advisory, LLC steps in, providing not only free guidance and support to help residents navigate the complexities of setting up a business but also offering in-depth business analysis. We help local entrepreneurs assess what types of businesses could have the most impact based on the area’s demographics and population needs.

Beyond simply guiding residents through LLC formation, Watertown Business Advisory assists in identifying potential business opportunities that are likely to succeed in the local market. We also provide strategies to enhance visibility, including promoting businesses through social media and other channels, ensuring that new ventures have a competitive edge in reaching their target audience.

By empowering individuals with the right tools, knowledge, and a tailored strategy, we aim to help rebuild the local economy and ease the strain on essential services, creating a more balanced, self-sustaining community.