Oklahoma's Ecosystems: Accelerating the Growth of the State's Economic Prosperity
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Oklahoma's Ecosystems: Accelerating the Growth of the State's Economic Prosperity

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Oklahoma's Ecosystems: Accelerating the Growth of the State's Economic Prosperity Presentation Transcript

  • 1. Oklahoma’s Ecosystems: Accelerating the Growth of the State’s Economic Prosperity Presented by: Deidre D. MyersResearch, Economic Analysis & Policy Services
  • 2. Economic Measures Employment Unemployment Labor Force Participation Gender Age Income Education
  • 3. Month-over-Month Employment Manufacturing All Other Employment 14 12 10 8 6Employment, in thousands 4 2 0 -2 -4 -6 -8 -10 Source: BLS, Current Employment Statistics
  • 4. Year-over-Year Growth by State4.0%3.5% 7 states had no employment growth or employment loss.3.0%2.5%2.0%1.5%1.0%0.5%0.0% WA TN LA TX WI OK GA OH KY CO OR KS RI UT IN CA NC VT VA AK AR ND AZ ID SC HI NV NY IA FL IL AL SD MT MN MA NJ PA NE MO MD MI DE MS Source: BLS, Current Employment Statistics (December 2011 to December 2012)
  • 5. Year-over-Year Manufacturing Growth5.0% 20 states had no manufacturing growth or loss4.0%3.0%2.0%1.0%0.0% SD HI WA TN OK IN ID IA CO MI OR UT GA IL KS AZ OH SC MS WI NC RI NM NE PA MN TX KY MO FL ND Source: BLS, Current Employment Statistics (December 2011 to December 2012)
  • 6. Unemployment Rate by StateSource: BLS, LAUS
  • 7. County Unemployment Rates
  • 8. Unemployment Rates by Cohort35.030.025.020.015.010.0 5.0 -
  • 9. Year-over-Year Labor Force Growth7%6% Oklahoma has the 27th largest population, but is ranked #9 in net workforce growth.5%4%3%2%1%0%-1%-2%-3% NC NM NE NH NJ ND NY TX RI CO TN NV VA AZ CA AK AR HI MN VT DC OK LA MD MA DE ME OH MT WV AL WA MS MO OR CT MI WI WY IN UT FL ID IA PA GA IL SC SD KY KS Source: BLS, LAUS
  • 10. Labor Force Participation Rate Labor Force by Demographic Labor Force Participation Rate Population Employment100%90% 88%80% 85%70% 73% 73% 70% 70% 67% 65%60% 63% 57% 58% 57%50% 55% 54% 52% 52%40%30%20%10% 0% OK male OK female White male White Black male Black Hispanic Hispanic female female male femaleSource: CPS, rolling average December 2011 through November 2012
  • 11. OK Median Age by County
  • 12. OK Median Household Income
  • 13. OK Households in Poverty
  • 14. Participation by Education Not in Labor Force Employed Unemployed Bachelors Degree and 74.2% 171.0 LFPR higher Associates Degree or 66.4% 235.2 LFPR Certificate High School Diploma 334.8 60.0% LFPR 43.4% Less than High School 142.4 LFPR 0 100 200 300 400 500 600 700 800 900 In thousandsSource: CPS, rolling average December 2011 through November 2012
  • 15. Bachelor’s Degree or Higher
  • 16. Less than a High School Degree
  • 17. OK’s Educational Gap for New Jobs High School Degree and less Some college/Vocational/Associates Degree Bachelors Degree Post Bachelors DegreeOK New Jobs 22.9 48.9 23.7 4.5Requirements 2010 OK Educational 45.8 31.3 15.4 7.5 Attainment 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% New Jobs defined as those jobs projected to be created between 2010 and 2020. Source: 2010 ACS; EMSI Complete Employment - 2011.4
  • 18. Goals Prioritize Resources Align Policies Maximize Outcomes Require Accountability
  • 19. Methodology Sales Revenue Export Share Wages Wealth Generation Location Quotient Physical Assets Workforce Growth Competitive Potential AdvantageNew MarketsIndustry TrendsNumber of Establishments
  • 20. Process Step 5. Tested conclusions against macro economic data Step 4. Aggregated findings to ecosystems that share economic characteristics Step 3. Analyzed qualitative data including OK’s physical assets, R&D expertise and workforce strengths Step 2. Identified those industries that ranked highest in each and all of the 3 categoriesStep 1. Analyzed quantitative variables for wealth generation, growth potential and competitive advantage for 669 industries
  • 21. Outcome Wealth Generation669 Industries72 variables Growth ECOSYSTEMS: The economic48,168 data points Potential drivers of OK Competitive Advantage
  • 22. Ecosystems Agriculture & Information &Aerospace & Transportation Energy Financial Defense Biosciences & Distribution Services Parts & Air, Rail, Water & Machinery Food Components Data Centers Pipeline Manufacturing Manufacturing Manufacturing Transportation Maintenance, Compressed Commodity Transportation Repair & Natural Gas Production & Banking Equipment Overhaul Vehicles Distribution Manufacturing Unmanned Aerial Fertilizer Warehousing & Distribution Cyber Security Systems Manufacturing Storage Military Related Research & Engineering Computer Wholesale Research & Development in Services Systems Brokers Development Ag BiosciencesThe specific industries listed under the ecosystems are neither comprehensive nor exclusive.They are only examples to demonstrate a diversity of activities. The number of individualindustries included among the 5 ecosystems actually number over 200.
  • 23. Vital Complementary Systems Oklahoma’s Ecosystems Skills, Knowledge, Infrastructure & Abilities• Construction • Education • Creative Industries Quality of Life • Health & Biosciences • Tourism & Recreation
  • 24. Regional & Micro Systems OKC Metro Stat Areas Tulsa Lawton SCOREState Multi County Regions NWOA Southern WIB Enid Cities Muskogee Ardmore
  • 25. PoliciesBusiness Start-Up, Retention, Expansion & Recruitment Workforce (STEM) Incentives Regulations Infrastructure
  • 26. Happening Now & Next Steps Complete College America OK Stem Report by Secretary of Science & Technology Governor’s Council Career Pathways Project Lead the Way
  • 27. For more information: www.okcommerce.gov/dataEmail: deidre_myers@okcommerce.gov Twitter: @deidredmyers