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

  1. 1. Oklahoma’s Ecosystems: Accelerating the Growth of the State’s Economic Prosperity Presented by: Deidre D. MyersResearch, Economic Analysis & Policy Services
  2. 2. Economic Measures Employment Unemployment Labor Force Participation Gender Age Income Education
  3. 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. 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. 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. 6. Unemployment Rate by StateSource: BLS, LAUS
  7. 7. County Unemployment Rates
  8. 8. Unemployment Rates by Cohort35.030.025.020.015.010.0 5.0 -
  9. 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. 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. 11. OK Median Age by County
  12. 12. OK Median Household Income
  13. 13. OK Households in Poverty
  14. 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. 15. Bachelor’s Degree or Higher
  16. 16. Less than a High School Degree
  17. 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. 18. Goals Prioritize Resources Align Policies Maximize Outcomes Require Accountability
  19. 19. Methodology Sales Revenue Export Share Wages Wealth Generation Location Quotient Physical Assets Workforce Growth Competitive Potential AdvantageNew MarketsIndustry TrendsNumber of Establishments
  20. 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. 21. Outcome Wealth Generation669 Industries72 variables Growth ECOSYSTEMS: The economic48,168 data points Potential drivers of OK Competitive Advantage
  22. 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. 23. Vital Complementary Systems Oklahoma’s Ecosystems Skills, Knowledge, Infrastructure & Abilities• Construction • Education • Creative Industries Quality of Life • Health & Biosciences • Tourism & Recreation
  24. 24. Regional & Micro Systems OKC Metro Stat Areas Tulsa Lawton SCOREState Multi County Regions NWOA Southern WIB Enid Cities Muskogee Ardmore
  25. 25. PoliciesBusiness Start-Up, Retention, Expansion & Recruitment Workforce (STEM) Incentives Regulations Infrastructure
  26. 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. 27. For more information: www.okcommerce.gov/dataEmail: deidre_myers@okcommerce.gov Twitter: @deidredmyers

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