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?”
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
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
Population
•125,734in 2008
•124,529in 2012
• Lower concentration
than state & nation
<55 years old
• Higher concentration
≥55 years old
Employment
•76,184in 2008
•76,298in 2012
• Modest gain in heath
care
• Large loss in
manufacturing
Migration in 2006
• 2.24% in-migrants
• 2.23% out–migrants
• Most migration to & from
surrounding counties
• 2,836 in & 2,819 out
Patents in 2007
•0.79per 10,000 in county
• 6.06 per 10,000 in state
• 7.88 per 10,000 in nation
Contributions to state
economy in 2007
• 0.77 % of gross state
product
• 0.63% of profits
• 0.82% of earnings
• 0.84% of taxes
Competitiveness
Education & Training
Innovation
Three factors affecting the vitality of the economy Blair County
Competitiveness
Education & Training
Innovation
Based on national, industry, & regional employment changes
Regional
National Regional
National
Employment
Industry Competitive
Effect Effect
Effect Change
Based on national, industry, & regional employment changes
From 2008 through 2012
Regional
113
National = Industry = Competitive
=
+4,833 –346 job increase
–4,372
Forecasted for Blair County
Highest
• Education,
agriculture, &
some services
Lowest
• Government,
manufacturing, retail
trade, & health care
Lower use of labor
than nation and
region for every
dollar of product &
service sold
Consider what
“competitiveness”
means
Highest
• Agriculture, utilities,
educational services
Lowest
• Government,
manufacturing, retail
trade, & health care
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
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
Competitiveness
Education & Training
Required
Innovation Economy
Based on work of Richard Florida, author of The Rise of the Creative Class
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
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
0 comments
Post a comment