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SBDC Economic Outlook Conference

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Brian Kelsey's presentation at the Springfield Business Development Corporation's 9th Annual Economic Outlook Conference

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SBDC Economic Outlook Conference

  1. 1. Linking Economic and Workforce Development:National & Regional PerspectivesSeptember 18, 2012
  2. 2. Key Points• Postsecondary education is the best insurance policy in an uncertain global economy• Talent pipelines built on strong public-private partnerships will define winning regions• Economic developers have a key role to play— linking, leveraging, and aligningSeptember 18, 2012 | SBDC Economic Outlook Conference
  3. 3. http://tipstrategies.com/geography-of-jobs/
  4. 4. http://mjperry.blogspot.com/2012/06/chart-of-day-education-matters.htmlSeptember 18, 2012 | SBDC Economic Outlook Conference
  5. 5. http://www9.georgetown.edu/grad/gppi/hpi/cew/pdfs/CollegeAdvantage.FullReport.081512.pdfSeptember 18, 2012 | SBDC Economic Outlook Conference
  6. 6. http://www9.georgetown.edu/grad/gppi/hpi/cew/pdfs/CollegeAdvantage.FullReport.081512.pdfSeptember 18, 2012 | SBDC Economic Outlook Conference
  7. 7. Source: US Bureau of Economic Analysis, US Census BureauSeptember 18, 2012 | SBDC Economic Outlook Conference
  8. 8. Source: US Bureau of Labor Statistics, US Census BureauSeptember 18, 2012 | SBDC Economic Outlook Conference
  9. 9. Education: What’s at stake?• 37% (7.5M) of all new jobs in US expected by 2020 will require postsecondary degree*• 16 out of top 25 fastest growing occupations in US will require postsecondary degree• 91 out of top 100 highest paying occupations in US require postsecondary degree Springfield (MSA): 31% of workforce age 18-64 has associate’s degree or higher— 86,000 out of 273,000—will it be enough to compete for the jobs of the future?Source: U.S. Bureau of Labor Statistics. *Degree as used here includes one or two-year certifications.September 18, 2012 | SBDC Economic Outlook Conference
  10. 10. “49% of business owners hired or tried to hire in the last three months and 37% reported few or no qualified applicants for open positions.”http://thehill.com/blogs/on-the-money/economy/248355-skills-gap-is-hampering-labor-market
  11. 11. Our #1 Challenge: Skills Gap 67% of employers reported that high unemployment is not making hiring easier. Lack of technical skills (advanced welding, tool programming) is largest barrier. http://www.areadevelopment.com/AnnualReports/Winter2012/26th-Corporate-Consultants-RE-survey-results-287677888.shtml September 18, 2012 | SBDC Economic Outlook Conference
  12. 12. Where the Jobs Are Is Where the Skills Aren’t“A serious mismatch is developing betweenthe kinds of skills needed for areas of highprojected job growth and the skills that willbe available in the U.S. labor force.” September 19, 1988
  13. 13. Texas: Staring Down the Skills GapSource: EMSISeptember 18, 2012 | SBDC Economic Outlook Conference
  14. 14. Source: U.S. Bureau of Labor StatisticsSeptember 18, 2012 | SBDC Economic Outlook Conference
  15. 15. Key Points The talent pipeline isbroken, especially for skilled trades. Employers are defining job requirements in such a waythat applicants need to have done the job already. Limited number of formal apprenticeship programs, esp. in
  16. 16. Staffing Pattern for Electrical Equipment & Component ManufTop 5 Hiring Needs by % of Total Workforce Education Experience On-The-Job TrainingTeam Assemblers High school diploma None Up to 12 months Are these realistic expectations aboutElectrical and Electronic Equipment Assemblers High school diploma None Up to 1 month employer needsExtruding and Drawing Machine Setters, Operators, and Tenders High school diploma None Up to 12 months and how the labor market works?First-Line Supervisors of Production and Operating Workers Postsecondary award 1-5 years NoneInspectors, Testers, Sorters, Samplers, and Weighers High school diploma None Up to 12 months
  17. 17. http://www.prosperity2020.com
  18. 18. http://www.louisianaeconomicdevelopment.com/incentives--programs/led-faststart.aspx
  19. 19. regional intermediary leading cluster effort Northeast Ohio Speed‐To‐Market Accelerator will employ a step‐by‐step process to help accelerate the commercialization of products, increase the global competitiveness of cluster companies, attract additional private capital to the region, and attract students, incumbent workers, and the unemployed to educational and training programs.entrepreneurship workforce industry http://www.nortech.org/news-room/press-releases/northeast-ohio-winner-of-white-house-jobs-and-innovation-accelerator-challenge
  20. 20. Taking action• Re-imagine the role of economic development organizations in the talent pipeline—start with how we talk about workforce development• Adopt measureable human capital goals as part of your organization’s strategic plan• Read Cappelli’s book—what public-private partnerships are needed in Springfield?September 18, 2012 | SBDC Economic Outlook Conference
  21. 21. September 18, 2012 | SBDC Economic Outlook Conference
  22. 22. http://www.austinchamber.com/education-talent/education-initiatives/
  23. 23. Modeled after apprenticeship programs in Germany Cost to school district: $15K of federal Title I funds Company promising that 75% of participating students will be offered full-time jobs as well as tuition assistancehttp://www.tuscaloosanews.com/article/20120914/NEWS/120919880/1291/
  24. 24. Government-funded programs love planning exercises—look for opportunities to align economic and workforce strategies.http://www.pennyrilefuture.com
  25. 25. Think creatively about how you can use data to align goals and market workforce assets. http://www.wfscapitalarea.com/images/stories/full%20report_state%20of%20workforce.pdf September 18, 2012 | SBDC Economic Outlook Conference
  26. 26. http://www.reditn.com/redi-college-access
  27. 27. Key Takeaways• Advocate for alignment in #econdev, #wkdev, and education whenever possible, especially with state and federal policy makers• Shovel-ready sites & work-ready jobs—regions able to respond quickly with scalable training customized to employers will stand out• Keep doing what you’re doingSeptember 18, 2012 | SBDC Economic Outlook Conference
  28. 28. Brian Kelsey, PrincipalCivic Analytics LLCbrian@civicanalytics.com512-731-7851 http://civicanalytics.com @brianjkelsey linkedin.com/in/brianjkelseySeptember 18, 2012 | SBDC Economic Outlook Conference

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