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Emerging Issues of Carteret County’s Economy and Workforce Creating a Competitive Advantage

Emerging Issues of Carteret County’s Economy and Workforce Creating a Competitive Advantage. John P. Metcalf Senior Partner. Who Heard Mount St. Helens?.

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Emerging Issues of Carteret County’s Economy and Workforce Creating a Competitive Advantage

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  1. Emerging Issues of Carteret County’s Economy and WorkforceCreating a Competitive Advantage John P. Metcalf Senior Partner

  2. Who Heard Mount St. Helens? Corporation for a Skilled Workforce

  3. Working Locally, Planning Regionally to Compete GloballyIt was…“how is the world going to be made in our image?”Now it is…“how is the world changing us?”China, Inc. Ted Fishman, Scribner 2005 Corporation for a Skilled Workforce

  4. Could it be today that we say…Think globally and act locally! Corporation for a Skilled Workforce

  5. Some Worrisome Global Indictors • For one chemist in the US, a company can hire 5 in China or 11 in India • The US is now a net importer of high technology products • 120 chemical plants built worldwide: 1 in US and 50 in China Rising Above the Gathering Storm, National Academies, www.nationalacademies.org/cosepup Corporation for a Skilled Workforce

  6. Some Worrisome Global Indictors • Fewer than 1/3 of US 4th and 8th graders perform at or above proficiencies in math • In 2003 only three US companies ranked among the top 10 recipients of patents granted by the US Patent Office • In 2004, China graduated about 500,000 engineers; India 200,00; the US 70,000 Rising Above the Gathering Storm, National Academies, www.nationalacademies.org/cosepup Corporation for a Skilled Workforce

  7. What Are Companies Chasing? “Jobs and dollars are chasing not just low wages but, more importantly, chasing skilled labor.” “America is not producing enough well-educated, technically-educated young people to power its own economy just five years from now. China and India are going to need their own, and the whole American powerhouse, comes the warning, risks tumbling down.” The 2010 Meltdown, Dr. Edward Gordon, Greenwood Publishing Corporation for a Skilled Workforce

  8. So, The World Is Flat • Distance today is measured in mouse clicks instead of miles • We are interconnected in a “flat world” Flat = Interconnection Corporation for a Skilled Workforce

  9. Tom Friedman in The World is Flat states: It affects everything . . . How communities and companies define themselves . . . how individuals balance their different identities as consumers, employers, shareholders, and citizens, and what role government should play. All of this is going to have to be sorted out anew. Corporation for a Skilled Workforce

  10. Carteret County’s Positioning Corporation for a Skilled Workforce

  11. Dropout Rates

  12. Three Studies, Same Conclusions • 2006 State of the Workforce Report • NC Policy Center Report • Eastern NC Economic Study Corporation for a Skilled Workforce

  13. Eastern Region’s Workforce Storylines • We must take advantage of our labor pool if we are to thrive in a new economy • Our economy is making a major shift from traditional industries and occupations to a service delivery economy • If we are to be competitive in the global economy our region must build it through Career Awareness and Job Readiness 2006 State of the Workforce Report, Eastern Carolina Workforce Development Board Corporation for a Skilled Workforce

  14. Eastern Region’s Workforce Storylines • Our region’s future is in the hands of our youth and how well prepared they are to transition from school to work • We are a region that shares more in common than we have in differences • Our community must make a decision now on the industries that will support our region’s future 2006 State of the Workforce Report, Eastern Carolina Workforce Development Board Corporation for a Skilled Workforce

  15. Coastal Sub-region Value Chain Clusters Military (existing) not shown due to high concentration. It has an LQ of approximately 20, employs 71,527 people, and has an average wage of $48,225. Ship and Boat Building (existing) also not shown due to high concentration. It has an LQ of over 12, employs 2,327 people and has an average wage of $28,516. Source: US BEA (2003), and NCER. NCER 2nd Qtr 2004 Average Wage =$28,128 (Source: NCESC) Green=Existing Blue=Emerging Orange=Potential

  16. However “A Trend Is Not a Destiny”

  17. “A Trend Is Not A Destiny” • Your challenge is to bend the curve and create a new destiny • If you do nothing, then then you’ll follow the trend • If you plan now for action, then you’ll create a “preferred future” • Create the 20% difference Corporation for a Skilled Workforce

  18. The 80/20 Factor In Economic Development • Most local economies are driven by national and global economic forces • The 80% factor • The remaining economic forces are from local efforts to create competitive advantages • The 20% factor Corporation for a Skilled Workforce

  19. To Create a Competitive Advantage, RegionsMust • Invest in their infrastructure, and, • Invest in the skills of their citizens Corporation for a Skilled Workforce

  20. Education and Workforce Development Support Economic Development • A good quality of life is related to a good wage • A good wage depends on a good job • Good jobs are dependent on a strong, diversified economy • A strong economy is dependent on a high quality education • Quality education depends on healthy children and families • Healthy children and families depend on vibrant communities!North Carolina Progress Board NC20/20 2001 Corporation for a Skilled Workforce

  21. Some Recommendations • Convene a discussion about the region’s future • Decide if a cluster based strategy is right for the region • Support entrepreneurship efforts across the region Corporation for a Skilled Workforce

  22. Some Recommendations • Develop and launch a comprehensive youth campaign • Develop and launch a comprehensive career awareness campaign • Investigate the affordable housing issue in Eastern Region Corporation for a Skilled Workforce

  23. How Does Carteret County Create A Competitive Advantage in a Global Economy? Corporation for a Skilled Workforce

  24. Act On These Questions • What must we do to integrate our economic, workforce and economic strategies? • How do we influence education reform to meet global standards? • What is the vision, “preferred future”, for our county? Our region? • What are the consequences for our citizens if we do nothing? Corporation for a Skilled Workforce

  25. Corporation for a Skilled Workforce 900 Victors Way Suite 350 Ann Arbor, MI 48108 734-769-2900 John P. Metcalf 704-814-8999 jmetcalf@skilledwork.org www.skilledwork.org

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