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The New Economy and The 2008 Impacts of MI-SBTDC

The New Economy and The 2008 Impacts of MI-SBTDC . June 17, 2009. Integrating Workforce Development (WD) with Economic Development (ED). Calls for greater connectivity between WD and ED Personal Responsibility & Work Opportunity Reconciliation Act (PRWORA) Workforce Investment Act (WIA)

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The New Economy and The 2008 Impacts of MI-SBTDC

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  1. The New Economy and The 2008 Impacts of MI-SBTDC June 17, 2009

  2. Integrating Workforce Development (WD) with Economic Development (ED) • Calls for greater connectivity between WD and ED • Personal Responsibility & Work Opportunity Reconciliation Act (PRWORA) • Workforce Investment Act (WIA) • Workforce Innovation in Regional Economic Development Initiative (WIRED) • Is integrating business services the next step?

  3. Entrepreneurial Pipeline Theory Stage IV (500 + Emp.) Stage III (100-499 Emp.) Stage II (10-99 Emp.) Stage I (1-9 Emp.) Number of Enterprises Source: Scott Loveridge, Michigan State University

  4. Trends in Rural Manufacturing Employment Source: Bureau of Economic Analysis: REIS

  5. Percent of Employment in Manufacturing 1 - 6 7 - 10 11 - 15 16 - 20 21 - 31 State: 12 Percent of Total Employment Engaged in Manufacturing

  6. 2008 Economic Impact of Region 1: MI-SBTDC • Approach • Isolate the 15 Counties that make up the Upper Peninsula • Use SBTDC survey of client-businesses by NAICS for employment impacts • Use Economic Multipliers by NAICS at the regional and state levels to form economy-wide impacts

  7. Region 1: Industries Impacted

  8. MI-SBTDC 2008: Jobs Creation

  9. MI-SBTDC 2008: Sales Generation

  10. MI-SBTDC 2008: Tax Generation

  11. PowerPoint presentation can be downloaded at, www.cea.msu.edu • For further information, contact

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