Blair County Economy

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    Richard Florida has further supported this argument with his notion of a Creative Class, which he contends garners a higher wage because it adds a higher value. In the figure, we can see a significant decline in the manufacturing workforce as a percentage of the U.S. workforce during the period 1950 to 2006, and this doesn’t even begin to capture the hemorrhaging in that sector recently. Florida further contends that the emergence of a Creative Class offers the strongest opportunity for competitive advantage since this group of highly skilled workers demands the highest hourly rates compared to the labor or service sectors. The creative class is not bound by location. Because of its highly marketable skills, these workers are mobile and often choose their workplace and their workspace. Many of these workers are part of dual-career couples. This, Florida contends, is a different sort of challenge for regional economic development. Where once economic development was linked to increasing the competitiveness of firms within the region, now the focus has changed to making the region itself a destination for highly skilled workers – in essence the challenge is “HOW TO ATTRACT AND RETAIN THE CREATIVE CLASS?”

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    Blair County Economy - Presentation Transcript

    1. Competitiveness, Human Capital, & Innovation in the Blair County Economy Altoona, PA May 22, 2009 Rose M. Baker & David L. Passmore Penn State Workforce Education & Development Initiative
    2. Slides from this presentation Links to reports about the economy, demography, & workforce of Blair County Links to government & regional web sites Links to our work Background information about Blair County and all slides in this presentation
    3. Population •125,734in 2008 •124,529in 2012 • Lower concentration than state & nation <55 years old • Higher concentration ≥55 years old
    4. Employment •76,184in 2008 •76,298in 2012 • Modest gain in heath care • Large loss in manufacturing
    5. Migration in 2006 • 2.24% in-migrants • 2.23% out–migrants • Most migration to & from surrounding counties • 2,836 in & 2,819 out
    6. Patents in 2007 •0.79per 10,000 in county • 6.06 per 10,000 in state • 7.88 per 10,000 in nation
    7. Contributions to state economy in 2007 • 0.77 % of gross state product • 0.63% of profits • 0.82% of earnings • 0.84% of taxes
    8. Competitiveness Education & Training Innovation Three factors affecting the vitality of the economy Blair County
    9. Competitiveness Education & Training Innovation Based on national, industry, & regional employment changes
    10. Regional National Regional National Employment Industry Competitive Effect Effect Effect Change Based on national, industry, & regional employment changes
    11. From 2008 through 2012 Regional 113 National = Industry = Competitive = +4,833 –346 job increase –4,372 Forecasted for Blair County
    12. Highest • Education, agriculture, & some services Lowest • Government, manufacturing, retail trade, & health care
    13. Lower use of labor than nation and region for every dollar of product & service sold Consider what “competitiveness”  means
    14. Highest • Agriculture, utilities, educational services Lowest • Government, manufacturing, retail trade, & health care
    15. Competitiveness Education & Training Required Innovation Economy For job openings created by growth and change and by the need to replace workers who die, retire, or otherwise leave their occupations in Blair County
    16. For job openings created by growth and change and by the need to replace workers who die, retire, or otherwise leave their occupations in Blair County
    17. Competitiveness Education & Training Required Innovation Economy
    18. Based on work of Richard Florida, author of The Rise of the Creative Class
    19. Dynamic competitive environment which  emphasizes ◦ Flexibility ◦ Adaptability ◦ Capacity to add value through intangible assets Knowledge workers and their talents become key  economic differentiators  Choices for employment are not bounded by traditional location/geographic characteristics
    20. The Future of Central Pennsylvania Business & Industry Central Pennsylvania Regional Career Fair State College, PA April 22, 2009 Rose M. Baker & David L. Passmore Penn State Workforce Education & Development Initiative

    + David PassmoreDavid Passmore, 6 months ago

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