Building a Knowledge-Based Economy in Arkansas

1. Building a Knowledge-Based Economy in Arkansas

2. Who we are Statewide volunteer group of business, professional and education leaders Nonprofit founded in 2003 Convergence of two initiatives: Taskforce for the Creation of Knowledge-Based Jobs Arkansas Venture Forum Knowledge-Based Companies of Arkansas Our Background

3. To position Arkansas where it can increase its per capita income to the U.S. average by 2020 and thereby increase state tax revenues by over $2.4 billion on an annual basis. That’s 50% more than our current tax revenues in Arkansas today. This achievement doesn’t increase the tax rate, it only increases the tax base. Our Goal

4. Charting a New Course 2009: 81.6%; $31,946 2008: 80.6%; $32,397 2007: 80.3%; $31,646

5. 2009 Report of AEDC

6. Core Strategies • Support job-creating research. • Develop risk capital that is available for all stages of the business cycle, especially the funding gap. • Encourage entrepreneurship and accelerated new enterprise development. • Increase the education level of Arkansans in science, technology, engineering and math. • Sustain existing industry through advancing technology and competitiveness.

7. We focus on economic development because good jobs provide the foundation for strong, safe, and prosperous communities, and on improving our schools because job growth and education are inseparable.” – Governor Mike Beebe Friday, Jul 30, 2010 Governor Beebe's weekly column and radio address: Regional Partnerships for Statewide Success

8. The United States economy is in serious danger from a growing mismatch between the skills that will be needed for jobs being created and the educational backgrounds (or lack thereof) of would-be workers. Inside Higher Ed, June 15, 2010 U.S. Economy in Danger of Skills Mismatch

9. By 2018, the economy will have jobs for 22 million new workers with college degrees, but, based on current projections, there will be a shortage of 3 million workers who have some postsecondary degree (associate or higher) and of 4.7 million workers who have a postsecondary certificate. Inside Higher Ed, June 15, 2010 U.S. Economy in Danger of Skills Mismatch

10. Of the 30 fastest-growing-occupations projected through 2016, the U.S. Bureau of Labor Statistics’ Occupational Outlook Handbook concludes that 16 of them will require substantial Mathematics or Science preparation. STEM Education Coalition, 2010 Why is STEM important to business & industry?

11. During the next decade, U.S. demand for scientists and engineers is expected to increase at four times the rate for all other occupations. STEM Education Coalition, 2010 Why is STEM important to business & industry?

12. Arkansas, like most other states, faces a major dilemma in developing a workforce that meets the needs of economic development now and in the foreseeable future. Why is STEM important to business & industry?

13. “Failure to produce enough students with high-quality STEM skills will hamper America’s ability to compete in an increasingly global economy.” National Conference of State Legislators, 2010 “All of our workers... need to understand and be able to use math, science, engineering and technology principles every day.” – Stephen E. Sandherr, CEO, Associated General Contractor of America Business and Industry STEM Coalition, March 12, 2010

14. Increasing the education and skill level in science, technology, engineering and math (STEM) are essential for ensuring the economic growth in Arkansas and our nation. Why is STEM important to business & industry?

15. Arkansas 4th grade students make gains on national math assessment: • At or above proficient for Grade 4 Math on the NAEP Test • U. S. Department of Education, IES, 2010

16. Average Scale Score for Grade 4 Math on the NAEP Test U. S. Department of Education, IES, 2010

17. Arkansas 8th grade students make gains on national math assessment: At or above proficient for Grade 8 Math on the NAEP Test U. S. Department of Education, IES, 2010

18. Average Scale Score for Grade 8 Math on the NAEP Test • U. S. Department of Education, IES, 2010

19. Arkansas 4th grade students show no significant difference on national science assessment: At or Above Proficient for Grade 4 Science on the NAEP Test U. S. Department of Education, IES, 2010

20. Average Scale Score for Grade 4 Science on the NAEP Test U. S. Department of Education, IES, 2010

21. Arkansas 8th grade students show no significant difference on national science assessment: • At or Above Proficient for Grade 8 Science on the NAEP Test • U.S. Department of Education, IES, 2010

22. Average Scale Score for Grade 8 Science on the NAEP Test U. S. Department of Education, IES, 2010

23. Are our high school graduates prepared?

24. Are our high school graduates prepared?

25. Nationally, fewer American students are graduating from college with math or science degrees. In 1960 17 percent of all academic degrees were awarded in engineering, mathematics or the physical sciences But by 2001 that figure had plummeted to 8 percent, with the U.S. producing only 148,000 graduates that year in these critical areas – the smallest number in two decades. University of California – Irvine, STEM Summit Q&A, 2010 STEM College Graduates

26. The Labor Department projects that by 2014 there will be more than 2 million job openings in science, technology, and engineering, while the number of Americans graduating with degrees in those subjects is plummeting. The Economist, April 12, 2008 Why is STEM important to business & industry?

27. STEM College Graduates The Conference Board of Canada, Jan 2010

28. Support Accelerate Arkansas’ efforts in the area of STEM Be actively involved in current statewide STEM focused initiatives such as: EAST Environmental and Spatial Technology Project AAIMS Arkansas Advanced Initiative for Math and Science Arkansas STEM Coalition What can Business and Industry do?

29. A statewide partnership of leaders from the corporate, education, government and community sectors Plans, encourages, coordinates and advocates policies, strategies, and programs supportive of excellence in STEM to expand the economy of Arkansas and produce higher paying jobs Arkansas STEM Coalition

30. Dr. Michael A. Gealt, Chairman John Chamberlin, Vice Chairman Andy Ceniceros Dr. Andy Sustich Charles Watson Dr. Collis Geren Dennis Plyer Greg Nabholz Dr. James Hendren Jerry Adams Contact the STEM Coalition Board:

31. Identify and promote appropriate STEM curricula and integrate technology into core curricula. Increase interest in STEM in elementary ed. Improve quality of classroom instruction. Increase the number of individuals with undergraduate and graduate STEM education degrees. • Work with business to make the connection of STEM education importance. Arkansas STEM Coalition Goals include:

32. Identify early and nurture students with aptitudes for STEM and then attract students to and retain them in STEM career tracks. Talk to your employees. Talk to the administrators & teachers. Get involved in STEM focused programs. What can Business and Industry do?