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NADO Conference - Equity and Regional Economic Development Oct2022.pdf

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NADO Conference - Equity and Regional Economic Development Oct2022.pdf

  1. 1. NADO Annual Training Conference Equity and Regional Economic Development October 17, 2022 This presentation was prepared by New Growth Innovation Network (NGIN) using Federal funds under award ED21HDQ3070009 from the U.S. Economic Development Administration, U.S. Department of Commerce. The statements, findings, conclusions, and recommendations are those of the author(s) and do not necessarily reflect the views of the U.S. Economic Development Administration or the U.S. Department of Commerce.
  2. 2. 2 fourtheconomy.com 2 Approach to Analysis Maura Kay, Analytics Consultant
  3. 3. Who is this person talking to me? 3 Research & Analysis Maura Kay Background: ➔ Urban Planning and Public Policy specializing in Economic Development ➔ Previously worked in: Housing, Digital Divide, and Small Business assistance Past Projects: ➔ Birmingham Black-Owned Business Support System ➔ Scranton Economic Development Plan ➔ READI: Indiana Regional Development & Acceleration Initiative ➔ Community Pulse Report: COVID impacts on Youth & Families
  4. 4. Purpose of Support Provide direct technical assistance for six different Economic Development Administration region members of NGIN. Data Framing Consider and present data relevant to inclusive recovery. We define inclusive recovery next. Specific Needs & Next Steps Intentionally consider unique needs of six regions, as well as commonalities across geographies. This included analyzing the impacts of COVID on small business in four regions We help communities and organizations create strategic, equitable, and resilient economies. 4
  5. 5. Inclusive Recovery 5 Inclusive recovery strategies seek to ensure existing residents and particularly vulnerable or marginalized residents, benefit from regional change and growth. Organizations can embed inclusive economic recovery strategies and goals into their regional plans.
  6. 6. The EDA defines equity as projects/programs that directly benefit: 6 1. One or more traditionally underserved populations, including but not limited to women, Black, Latinx(e), and Indigenous and Native American persons, Asian Americans, and Pacific Islanders; or 2. Underserved communities within geographies that have been systemically and/or systematically denied a full opportunity to participate in aspects of economic prosperity such as Tribal Lands, Persistent Poverty Counties (XLSX), and rural areas with demonstrated, historical underservice.
  7. 7. General Inclusion Metrics POPULATION Who lives in your region? - Population change - Education - Homeownership - Income 7 WAGES Who can afford to live & thrive in your region? - COVID impact on wages EMPLOYMENT Who works in your region? - Industry growth - Labor force - COVID impact on employment Whenever possible, indicators were disaggregated by race, ethnicity, age, and sex
  8. 8. Geographic Diversity of Regions 8
  9. 9. Who lives in your region? 9 Shared Observation: Most regions experienced population growth from 2010 to 2020, two remained stable. Impact on Inclusion: In almost all regions, population growth is being driven Black, Hispanic or Latino, Asian, or Multiracial populations. NCTCOG Source: Census American Community Survey, 2019 5-year estimates
  10. 10. Who lives in your region? Shared Observation: White residents were more likely to be homeowners than any other racial group in all but one region. Impact on Inclusion: Homeownership is the way into many communities. 10 Source: Census American Community Survey, 2019 5-year estimates NCTCOG
  11. 11. Who works in your region? 11 Shared Observation: While most regions lost employees from 2019 to 2020, losses varied across industries. Impact on Inclusion: High wage industries are growing. Inclusion means existing residents experience this growth too. Source: Census Quarterly Workforce Indicators, 2015-2020 MARC
  12. 12. How has COVID impacted work in your region? 12 Shared Observation: While most regions lost employees from 2019 to 2020, loses varied across industries. Often, higher wage industries experienced less loss. Impact on on Inclusion: Workforce challenges such as hiring are rooted in these loses. Are workers being protected in your region? NCWEDD Source: Census Quarterly Workforce Indicators, 2015-2020
  13. 13. Who can afford to thrive in your region? 13 Shared Observation: The rate of wage growth picked up between 2018-2019 and 2019-2020. Impact on Inclusion: Wage growth is occurring evenly across across races and ethnicities. Employment, 2020 Change in number of workers, 2019–2020 Average Annual Wages, 2020 Change in Wages, 2018- 2019 Change in Wages, 2019- 2020 White Alone 55,627 -4.7% $45,084 2.4% 8.1% Black or African American Alone 797 -8.9% $39,420 3.7% 4.9% American Indian or Alaska Native Alone 1,517 -29.1% $33,384 2.0% 6.9% Asian Alone 489 -0.8% $51,120 3.8% 5.1% Multiple Racial Identities 828 -6.2% $33,924 -1.3% 1.9% Hispanic Ethnicity* 2,034 -2.4% $44,292 6.0% 6.7% Source: Census Quarterly Workforce Indicators, 2015-2020 Region 5
  14. 14. Who can afford to thrive in your region? Shared Observation: In addition to race and ethnicity, disaggregating wage by sex and educational attainment provides a fuller picture of regions. Impact on Inclusion: Use the EDA definition to refine inclusion goals to reflect your specific region. 14 Percent of workforce, 2020 Change in number of workers, 2015–2020 Average Annual Wages, 2020 Change in Wages, 2015–2020 Workers with at least a bachelor's degree 26.8% 9.9% $115,896 9.9% Workers without a bachelor's degree 73.2% 9.5% $63,779 20.4% Employment and Wages by Educational Attainment NCTCOG Source: Census Quarterly Workforce Indicators, 2015-2020
  15. 15. Intentional Data Decisions 15
  16. 16. Inclusive Analysis is Based in Listening Population Inclusion: Recognition of Native Populations and how Census geographies differ Data translating: what are you really looking for? - Tracking down the correct data to characterize the agricultural economy - Corporate capital: needed resources for small businesses versus venture capital specifically for tech industry Right-sizing analysis: Defining micro businesses relative to regions - Match language to that used by organization or in region 16
  17. 17. What’s Next 17
  18. 18. Data that doesn’t just sit on a shelf 1) Analytics of Technical Assistance: Analytics about the economic impact of COVID, considering exacerbated economic inequalities and analytics to identify post-COVID economic growth opportunities which can deliver an inclusive economic recovery. 2) Final Plan (findings and recommendations): The final plan included data analysis with a forum for gathering input and feedback from stakeholders into a final recommendations. 3) Implementation of Technical Assistance: Technical assistance to build internal capacity to implement recommendations and/or build external organizational linkages to implement the recommendations. 18
  19. 19. fourtheconomy.com Questions? 19 Reach me at: maura.kay@fourtheconomy.com

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