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Workforce and Economic Development October 2012 Dennis.Hoffman@asu

Workforce and Economic Development October 2012 Dennis.Hoffman@asu.edu L. Wm. Seidman Research Institute. Seidman Research. University Economist Projects Work for Industry Intel A&D Projects Mines Work for Govt AZTC Report Revenue Forecasting Commerce Authority. For Today.

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Workforce and Economic Development October 2012 Dennis.Hoffman@asu

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  1. Workforce and Economic Development October 2012 Dennis.Hoffman@asu.edu L. Wm. Seidman Research Institute

  2. Seidman Research • University Economist Projects • Work for Industry • Intel • A&D Projects • Mines • Work for Govt • AZTC Report • Revenue Forecasting • Commerce Authority

  3. For Today • Economic Development • Base Industries • Role of Workforce in Economic Development • The buzz around Technology • Defining the AZ Workforce Landscape • Comparing with other Metros • Looking to the Future • What will it take to compete? • Questions

  4. Economic Development in AZ • Structure • Commerce Authority • TREO • GPEC • Cities and Counties • Objectives • Base Industries

  5. Arizona Base Industries • Based on both tradability and disproportionate size, many of the driving activities in Arizona can be grouped into one of three clusters: tourism and seasonal residents, high-technology manufacturing and associated wholesale trade, and call centers and back-office operations. A number of other activities that do not fit into one of these categories, such as copper mining, also help drive the state’s economy.

  6. Base Industries cont. • Each of these clusters is important in the Phoenix and Tucson metropolitan areas, though the specific leading industries within these categories vary between the two metro areas. In the balance of the state taken as a whole, only the tourism and seasonal residents cluster is a significant economic driver. Agriculture, mining, and government (particularly the federal government) are among the economic drivers in Arizona outside of the two major metro areas. Government also is important in the Tucson area, mostly due to the large size of the University of Arizona.

  7. So what is important to attracting and retaining base Industries? • Export based industries face pressures from businesses located anywhere on the planet. Their goal is to maximize profits and create positive returns on investments of capital.

  8. Factors driving base industry migration • Quality and depth of workforce • Quality of transportation Infrastructure that allows the flow of resources in and products out in an efficient timely manner • Quality of the energy, communications, and education infrastructure and programs • Importance of Place, Moretti • Tax and Regulatory Policy

  9. The buzz around Technology • Knowledge Economy Pursuits • Our AZ Tech Report • Wages and signals • Mobility vs. pressure for local production • Competing with globalization and productivity • Matching tech workers with tech jobs • Milken Report • 3 conclusions

  10. Milken 1 For many years, Arizona enjoyed the Sun Belt boom. Drawn by relatively low costs and a high standard of living, new residents flocked to the state from all over the country. Arizona experienced growth not only in housing, but also in many high-tech fields. But the latest downturn has vividly demonstrated that unfocused growth is not the path to stable long-term prosperity. Like the rest of the country, Arizona is confronting tough choices as it navigates a serious recession.

  11. Milken 2 To be clear, Arizona has pivotal resources with which to pursue more aggressive technology-based development. It is home to three large research universities (Arizona State University, the University of Arizona, and Northern Arizona University) and several mature high-tech industries. The state also has in place organizations dedicated to promoting technology growth, such as Science Foundation Arizona, and boasts a unique ability to attract businesses and talent from around the country.

  12. Milken 3 In order to compete on a national level—as well as with key Western rivals such as Colorado, Utah, New Mexico, and Oregon—the state will need to supply the missing pieces of the puzzle: a deeper pool of skilled, educated workers; sufficient capital to fund research and expansion by entrepreneurs; and state-level leadership that is informed and committed to implementing well-considered, long-range development strategies.

  13. Examining the workforce landscape • The Governor’s Council on Workforce Policy has developed the Arizona Workforce Connection website (http://www.arizonaworkforceconnection.com) as a source of information on recruiting and employment for businesses and job-seekers. Topics covered include educational and government programs, human resources contacts, legal and labor relations information, various incentive programs, and many other elements of the Arizona workforce environment.

  14. Metro Comparisons • PHX • Tucson • San Diego • Las Vegas • Denver • Albuquerque • Salt Lake

  15. Arizona Moving Forward • Current look ahead • Reasons to question the traditional prospects

  16. Will this picture change educational choice decisions among youth

  17. Opportunities and Challenges • A Chance to plan the future of Pinal County • Tax Base and Land/Water Ownership • Networking with Phx, Tucson • Networking as a SW Cluster • Competition will be fierce • Questions?????????

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