Transcript Slide 1
About Wired65 • $5 million grant awarded by the U.S. Department of Labor’s Workforce Innovations in Regional Economic Development (WIRED) initiative. • Includes include 26 counties – 19 in Kentucky and seven in Indiana. • The region encompasses the Louisville and Elizabethtown metropolitan areas and includes portions of five workforce investment areas. • Wired65 references Interstate 65 which cuts through the center of the region. Wired65 Regional Competitiveness Strategy Regional leaders agreed the first step should be the preparation of a regional asset map and competitiveness strategy. Why do we need a regional strategy? • A regional approach is stronger than operating as individual cities or counties. • Help regional leaders identify the top challenges and opportunities for the area. • Lay out a game plan. • Emphasize three important factors: Talent, Innovation and Place. TIP: Talent, Innovation and Place • A strong pool of Talent to allow businesses to flourish. • An environment that supports Innovation and entrepreneurship. • A quality of Place that draws people and companies to the area while meeting the needs of current residents. Mapping our regional assets • Wired65 hired Austin-based TIP Strategies and Next Generation Consulting of Madison, Wisconsin through a competitive bidding process to map the region and develop a regional competitiveness strategy. • Research included: – Workshops in each of the 26 counties – Numerous focus groups and stakeholder interviews – Online survey (A total of 2,908 people completed the survey) • Result: The TIP Report The TIP Report A summary of the findings and recommendations that TIP Strategies and Next Generation Consulting have made to the 26-county Wired65 Region in Kentucky and Indiana to “proactively position the regional economy to remain competitive and sustainable over the next 10 to 20 years and beyond.” Key Challenges Employers will continue to face labor shortages. Key Challenges The skill sets of the region's workforce do not match future jobs. Key Challenges Regional infrastructure needs are piling up. Key Challenges Business climate issues can hamper growth. Key Challenges Changes at Fort Knox will create workforce and other challenges, along with opportunity. Priority Recommendations Fix the Education Pipeline Focus on smoothing transition points within the P-20 education system. Make learning relevant to growth industries and make the connection between education, income, and prospects for the future. Priority Recommendations Prepare for 21st Century Jobs Provide cutting-edge vocational training in high school and better align postsecondary programs with the needs of local business. Priority Recommendations Create a Talent Magnet Promote the region as a world-class destination for 21st century talent by highlighting the region’s educational and research assets. Priority Recommendations Invest in Priority Sectors Invest in economic and workforce development projects that strengthen the region’s priority sectors through targeted workforce training and recruitment. The region’s priority sectors are healthcare, life sciences, logistics, human resource management, energy technologies, advanced manufacturing, agriculture, entrepreneurship, and tourism. Priority Recommendations Focus on Quality of Place Take a regional view and use the region’s quality of place as a recruitment and retention tool for knowledge workers. Engaging the “next generation” workforce We have enviable quality of life attributes to build upon: – Affordable cost of living. – A growing metro hub. – A college and university system that can import and keep talent in the region. Engaging the “next generation” workforce Engage and retain the region’s current young professionals. With approximately 62 percent of the region’s population under the age of 44, retention strategies are key to sustaining growth. Engaging the “next generation” workforce Build a region that is a talent magnet for the next generation. They want better paying jobs and careers, public transportation, and cultural connections, and engagement. Engaging the “next generation” workforce Connect emerging professionals to internships, jobs, employers, and the community. We need a robust system to connect college graduates to careers locally. Nearly 50 percent of internship students accept permanent positions with their internship employers. Engaging the “next generation” workforce Convince the convincibles. Get those who moved away to move back. Close proximity to family and friends is the number one reason they consider moving back, followed by the affordability of the region. The perception that there is a lack of wellpaying professional opportunities is what’s keeping them away. Going Forward • Diversity can create challenges in working together toward shared goals, but it also provides a broad range of opportunities and assets. • Getting the conversation started is half the battle. Continue the conversation… • What does it mean to address issues as a region? • What is the best way to create meaningful connections among regional players in the workforce, education, and economic development arenas? • Which trends are likely to have the greatest impact on the region going forward? • How do we use the Wired65 Region’s assets and strategies outlined in these pages to best position the region for success? • What factors will determine success?