ECONOMIC OVERVIEW OF LOUISIANA • Louisiana’s population has grown by 5.7% over the last six years, and the current population is estimated to be • Industry employment in Louisiana is 4.625M predicted to grow by 13% from 2012 to 2022 • Louisiana’s preliminary seasonally adjusted 6.2% unemployment rate in August 2014 was slightly higher than State Industry Employment 2013 the nation’s preliminary rate of 5.8% that same month 7% Construction 7% Jobs in Louisiana Manufacturing 1,960,000 12% Retail Trade 1,940,000 61% 1,920,000 13% Health Care 1,900,000 Other 1,880,000 1,860,000 1,840,000 1,820,000 1,800,000 Source: LWC,BLS, LED Analysis, Economic Modeling Specialists, International LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ 1 OpportunityLouisiana.com ¡
AGENDA EMPLOYMENT OPPORTUNITIES LEVERAGING EDUCATION FOR MEANINGFUL EMPLOYMENT LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ 2 OpportunityLouisiana.com ¡
LOUISIANA: EPICENTER OF THE U.S. MANUFACTURING RENAISSANCE • Since 2008, the Jindal Administration has secured projects that are resulting in more than 83,000 new direct and indirect jobs and $54 billion capital investment across Louisiana LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ 3 Source: LED Analysis OpportunityLouisiana.com ¡
86,000 NEW INDUSTRIAL CRAFT WORKERS ARE NEEDED TO HELP BRING PROJECTS ONLINE Forecasted Demand for Industrial Craft Workers 140,000 120,000 100,000 80,000 60,000 1991 1996 2001 2006 2011 2016 Historical Employment of Industrial Craft Workers Forecasted Demand for Industrial Craft Workers LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ 4 Source: Louisiana Workforce Commission and Louisiana State University OpportunityLouisiana.com ¡
MANY CONSTRUCTION PROJECTS WILL REQUIRE OVER 1,000 WORKERS AT PEAK DEMAND Peak Construction Demand for Select Megaprojects 7,000 7,000 6,000 5,000 4,000 3,000 3,000 3,000 3,000 2,500 2,000 2,100 2,000 1,500 1,500 1,500 1,000 1,000 400 500 644 650 0 LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ 5 Source: Greater Baton Rouge Industry Alliance OpportunityLouisiana.com ¡
PROFESSIONAL JOBS WILL FOLLOW LOUISIANA'S NEW INDUSTRIAL CONSTRUCTION AND MANUFACTURING JOBS • Growth in Louisiana’s manufacturing and construction industries’ will inevitably lead to professional job growth, including an increased demand for healthcare practitioners and educators • Every in-demand, high-impact professional job will require some sort of postsecondary degree, with the most valuable degrees being in engineering, finance, accounting, computer science, and data analytics Forecasted Professional Industry Employment Growth Through 2022 +20% 103,382 86,484 +5% 58,724 55,952 +10% +11% 28,617 25,903 25,286 22,843 Information Management of Companies Finance and Insurance Professional, Scientific, and and Enterprises Technical Services 2014 Jobs 2022 Jobs LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ 6 Source: QCEW Employees - EMSI 2014.3 Class of Worker OpportunityLouisiana.com ¡
LOUISIANA’S SOFTWARE DEVELOPMENT WORKFORCE WILL GROW EXPONENTIALLY • Leading tech companies are calling Louisiana home, including: CGI, CSC, IBM, CenturyLink, Gamelfot, GE Capital, and Electronic Arts. These and other teach companies have announced they collectively will create more than 4,500 new direct jobs in Louisiana – most of which will be filled in the next three years LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ 7 Source: LED Analysis OpportunityLouisiana.com ¡
LOUISIANA’S SOFTWARE DEVELOPMENT WORKFORCE WILL GROW EXPONENTIALLY • Diversity amongst Louisiana’s fastest growing occupations (by growth %) mean that students will have a variety of career options: 10 YEAR 10 YEAR % JOB OCCUPATION GROWTH GROWTH Software Developers, Systems Software 900 81.1% Software Developers, Applications 880 72.1% Computer and Information Research Scientists 20 50.0% Computer Systems Analysts 1,610 46.5% Computer Numerically Controlled Machine Tool Programmers, Metal and Plastic 100 41.7% Information Security Analysts 210 39.6% Computer-Controlled Machine Tool Operators, Metal and Plastic 500 39.1% Logisticians 360 38.7% Diagnostic Medical Sonographers 340 38.2% Welding, Soldering, and Brazing Machine Setters, Operators, and Tenders 240 36.4% Insulation Workers, Mechanical 1,050 36.1% Metal-Refining Furnace Operators and Tenders 130 35.1% Personal Financial Advisors 470 33.3% • The most economically rewarding bachelor and graduate degrees will be in engineering, finance and accounting, computer science, and data analytics. The most economically rewarding two-year degrees and industry based certifications (IBCs) will be in engineering technology, construction crafts, and industrial production, with a heavy emphasis on welding and electrical skills • Graduates in these fields should be competitive for nearly all of the high-demand entry-level openings Louisiana will see in the coming years LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ 8 Source: Louisiana Workforce Commission – Fastest Growing Occupations (by growth %) to 2022 OpportunityLouisiana.com ¡
AGENDA EMPLOYMENT OPPORTUNITIES LEVERAGING EDUCATION FOR MEANINGFUL EMPLOYMENT LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ 9 OpportunityLouisiana.com ¡
JUMP START WILL HELP ENSURE PUBLIC HIGH SCHOOL GRADUATES ARE PREPARED FOR RAPID EMPLOYMENT • Jump Start helps prepare students for college and a career by requiring students to attain valuable industry credentials to graduate with a Jump Start Career Diploma. These credentials are typically aligned with Industry Based Certifications (IBCs) recognized by the Workforce Investment Council (WIC) • Jump Start Graduation Pathways: a) require students to master basic literacy, numeracy and problem solving skills; b) include advanced Career Readiness courses; and c) require students to attain credentials that prepare them for success in the workplace (IBCs) • Jump Start pathways are developed by Regional Teams made up of: • School systems and their governing authorities • Postsecondary institutions • Local industry • Economic and workforce development experts • Regional Team Key Objective : Maximize student access to high-quality career/technical education and workplace experience, while helping students complete an academic foundation that enables them to continue their education after high school 10
THE FOLLOWING JUMP START GRADUATION PATHWAYS WERE APPROVED BY BESE IN OCTOBER 2014 Statewide Graduation Pathways Automobile Services Industrial Maintenance Mechanic Carpenter Internet Web Foundations Certified Mechanical Drafter Manufacturing Specialist Certified Nursing Assistant Mobile Crane Operator Collision Repair Oil and Gas T2 Safety Systems Electrician Pipefitter Emergency Medical Technician Plumber Fashion Design for Costume and Film Prostart/Restaurant Four Stroke Engine Tech Web Design Professional Welder Regional and Integrated Graduation Pathways Agriculture Tech Manufacturing, Construction Crafts, and Logistics Business Management Mason Commercial Driver STEM Digital Media and Entertainment Technology Sheet Metal Workers Health Sciences – Patient Care and Management Technology Specialist Hospitality, Tourism, Culinary, and Retail Welder’s Helper Information Technology 11
WISE: A FIRST-IN-THE-NATION PARTNERSHIP BETWEEN INDUSTRY AND HIGHER EDUCATION • The Workforce and Innovation for a Stronger Economy (WISE) Fund is designed to target resources to better align high education with the workforce needs of Louisiana industries • The WISE Fund dedicates $40 million annually to Louisiana’s public higher education institutions • 80% dedicated to increasing degree and certificate production in high demand fields • 20% dedicated to spur additional research and innovation in alignment with industry needs • Campuses will be required to competitively apply for WISE monies by submitting implementation plans, which must include a minimum 20% private industry match • What success will look like: • Expanded program offerings and new faculty in targeted fields aligned with industry needs • Increased enrollment in targeted programs aligned with industry needs • Increased placement in targeted industry fields • Expansion of internships and apprenticeship programs 12
LOUISIANA’S HIGHER EDUCATION PARTNERSHIPS HAVE ATTRACTED MAJOR TECHNOLOGY COMPANIES HIGHER EDUCATION PARTNER INDUSTRY COMPANY NATURE OF PARTNERSHIP Computer • $4.5 million over five years to triple the number of science computer science graduates • $14 million over 10 years to increase the number Computer of computer science graduates science • $14 million over 10 years to increase the number Computer of computer science graduates science • $29 million to build the Louisiana Digital Media Digital media Center • $2 million to establish a professorship & expand Telecom telecom technology curriculum technology • $5 million to fund enhanced software Software development-focused academic programs development 13 Source: LED analysis
CONTACT SUSIE SCHOWEN Workforce Initiatives Manager Louisiana Economic Development 225.342.5729 susana.schowen@la.gov OpportunityLouisiana.com @LEDLouisiana
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