Key Issues and Best Practices In Rural Economic Development - - PowerPoint PPT Presentation

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Key Issues and Best Practices In Rural Economic Development - - PowerPoint PPT Presentation

Aug 12, 2023 358 likes •723 views

Key Issues and Best Practices In Rural Economic Development Economic Development Environment Highly Competitive Extremely Time Sensitive Confidentiality Is Imperative Relationships Matter Online Information Is Increasingly

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Key Issues and Best Practices In Rural Economic Development

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Economic Development Environment

  • Highly Competitive
  • Extremely Time Sensitive
  • Confidentiality Is Imperative
  • Relationships Matter
  • Online Information Is Increasingly Important
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10 Ways to Excel

  • Be Professional
  • Be Yourself
  • Document Your Workforce
  • Embrace Education as Economic Development
  • Certify Your Sites
  • Understand and Protect Your Assets
  • Show & Tell With Technology
  • Improvise & Innovate
  • Participate in Regional Alliances
  • Be a Player on the Home Team
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Be Professional

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Be Yourself

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10 Ways to Excel

  • Be Professional
  • Be Yourself
  • Document Your Workforce
  • Embrace Education as Economic Development
  • Certify Your Sites
  • Understand and Protect Your Assets
  • Show & Tell With Technology
  • Improvise & Innovate
  • Participate in Regional Alliances
  • Be a Player on the Home Team
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History of Top Location Decision Factors Survey, Corporate Decision Makers

Top Location Decisions 2013 2012 2011 2010 2009 2008 2007 2006 Availability of Skilled Labor 1 3 2T 7 6 6 4 8 Highway Accessibility 2 2 1 1 2 1 1 2 Labor Costs 3 1 2 2 1 2 2 1 Occupancy/Construction Costs 4 5 5 4 7 3 5 7 Availability of Advanced ICT Services 5 4 * * * * * * Available Buildings 6 8 * * * * * * Corporate Tax Rate 7 7 4 6 5 8 7 3 State and Local Incentives 8 * 5T 5 8 7 8 4 Low Union Profile 9 10 10 * * 9 10T * Energy Availability & Costs 10 6 7 9 4 5 3 9

* Not in top ten factors for year shown Source: Area Development Magazine, Corporate Surveys, 2006 to 2013

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Potential Hidden Labor Supply

Employment Status TJP Region Not employed, but interested in working 46,379 Underemployed 27,538 Residents employed part-time, who would prefer full-time employment 13,703 Recent post-secondary graduates 7,578 Total 95,198

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Top 15 Food Manufacturing Occupations

Rank Description 2007 Jobs 2014 Jobs Change 2007- 2014 % Change 2007- 2014 2014 National Location Quotient Avg. Hourly Earnings National Avg Hourly Earnings

1 Meat, Poultry, and Fish Cutters and Trimmers 39 62 23 59% 0.46 $10.20 $11.40 2 Packaging and Filling Machine Operators and Tenders 920 928 8 1% 3.00 $14.50 $13.54 3 Food Batchmakers 112 98 (14) (13%) 1.16 $19.86 $13.63 4 Slaughterers and Meat Packers <10 <10

  • $12.00

5 Packers and Packagers, Hand 907 802 (105) (12%) 1.41 $11.37 $10.81 6 Laborers and Freight, Stock, and Material Movers, Hand 2,383 2,221 (162) (7%) 1.19 $10.86 $12.75 7 Helpers--Production Workers 785 650 (135) (17%) 1.83 $10.89 $11.84 8 Bakers 84 89 5 6% 0.62 $11.18 $11.95 9 First-Line Supervisors of Production and Operating Workers 1,236 898 (338) (27%) 1.87 $23.51 $27.35 10 Industrial Truck and Tractor Operators 908 710 (198) (22%) 1.70 $12.52 $15.43 11 Maintenance and Repair Workers, General 1,149 995 (154) (13%) 0.96 $16.54 $17.88 12 Industrial Machinery Mechanics 460 413 (47) (10%) 1.54 $22.87 $23.22 13 Inspectors, Testers, Sorters, Samplers, 725 508 (217) (30%) 1.31 $14.39 $18.05 14 Food Processing Workers, All Other 47 53 6 13% 1.61 $15.56 $11.99 15 Food Cooking Machine Operators and Tenders 526 540 14 3% 19.35 $19.64 $13.51

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Estimated Labor Supply for a Food Manufacturer

9-County Labor Market Area

Currently employed supply 12,903 Potential underemployment yield 6,609 Not employed, but interested in employment 3,887 New labor force entrants 497 Total expected applicants – 1 year 23,895 Initial employer intercept 17,922 Qualified applicants 8,961 Commute propensity 66.7% Qualified applicants willing to commute 5,977 1 in 3 selectivity ratio 1,992 1 in 5 selectivity ratio 1,195

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Food Manufacturing Educational Program Completions by Institution

Institution

City Total Completions Food Mfg Program Completions 2013 2 Years

  • r Less

Completions 4-Year Completions Graduate & Beyond Completions

Bethel University McKenzie 1,125 227 19 208 Freed-Hardeman University Henderson 432 28 7 21 Jackson State Community College Jackson 605 13 13 Lane College Jackson 238 40 40 Tennessee College of Applied Technology- McKenzie McKenzie 172 30 30 Tennessee College of Applied Technology-Jackson Jackson 396 53 53 Tennessee College of Applied Technology- Whiteville Whiteville 106 5 5 Union University Jackson 1,033 56 15 41 Total JRP Region 4,107 452 101 81 270

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Embrace Education As Economic Development

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10 Ways to Excel

  • Be Professional
  • Be Yourself
  • Document Your Workforce
  • Embrace Education as Economic Development
  • Certify Your Sites
  • Understand and Protect Your Assets
  • Show & Tell With Technology
  • Improvise & Innovate
  • Participate in Regional Alliances
  • Be a Player on the Home Team
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Understand and Protect Your Assets

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Show and Tell with Technology

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Sports Performance Core Industries

Improvise & Innovate

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Core Industries and Support Industry Groups

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Sports Performance and Sports Tourism

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Manatee Sports Performance Cluster

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Participate in Regional Alliances

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Participate in Regional Alliances

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Memphis Regional Megasite Workforce Market

Population with 13-15 Years of Education

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Jobs

2007 194,583 2012 175,483 19,100

Top 68 Manufacturing/Technical Occupations for the Rubber Industry:

Fewer jobs due to recession More workers available for a new employer

$18.60 Average Hourly Wage for Top Rubber Manufacturing Occupations 17.6% Lower than U.S. Average Hourly Wage

Rubber Manufacturing Skilled Workers

Memphis Regional Megasite Workforce Market

Sources: BLS, EMSI, Younger Associates

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Higher Education

Memphis Regional Megasite Workforce Market

50

  • Colleges, Universities, and

Technical Schools

27

  • Provide Training for Top Rubber

Manufacturing Occupations

16,888

  • Annual Graduates

2,217

  • Annual Graduates Trained for

Top Rubber Manufacturing Occupations

More New Technically Trained Workers Each Year Sources: IPEDS, BLS

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Be a Player on the Home Team

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10 Ways to Excel

  • Be Professional
  • Be Yourself
  • Document Your Workforce
  • Embrace Education as Economic Development
  • Certify Your Sites
  • Understand and Protect Your Assets
  • Show & Tell With Technology
  • Improvise & Innovate
  • Participate in Regional Alliances
  • Be a Player on the Home Team
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Sharon Younger, Ph.D. Jackson Memphis www.younger-associates.com