Source: LWC,BLS, LED Analysis, Economic Modeling Specialists, - - PowerPoint PPT Presentation

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Source: LWC,BLS, LED Analysis, Economic Modeling Specialists, - - PowerPoint PPT Presentation

Apr 21, 2023 17 likes •158 views

ECONOMIC OVERVIEW OF LOUISIANA Louisianas 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

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LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ OpportunityLouisiana.com ¡

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ECONOMIC OVERVIEW OF LOUISIANA

Source: LWC,BLS, LED Analysis, Economic Modeling Specialists, International

  • Louisiana’s population has grown by

5.7% over the last six years, and the current population is estimated to be 4.625M

  • Louisiana’s preliminary seasonally

adjusted 6.2% unemployment rate in August 2014 was slightly higher than the nation’s preliminary rate of 5.8% that same month

1,800,000 1,820,000 1,840,000 1,860,000 1,880,000 1,900,000 1,920,000 1,940,000 1,960,000

Jobs in Louisiana

  • Industry employment in Louisiana is

predicted to grow by 13% from 2012 to 2022

7% 7% 12% 13% 61%

State Industry Employment 2013 Construction Manufacturing Retail Trade Health Care Other

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AGENDA

LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ OpportunityLouisiana.com ¡

2 LEVERAGING EDUCATION FOR MEANINGFUL EMPLOYMENT

EMPLOYMENT OPPORTUNITIES

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LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ OpportunityLouisiana.com ¡

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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

Source: LED Analysis

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LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ OpportunityLouisiana.com ¡

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86,000 NEW INDUSTRIAL CRAFT WORKERS ARE NEEDED TO HELP BRING PROJECTS ONLINE

Source: Louisiana Workforce Commission and Louisiana State University

60,000 80,000 100,000 120,000 140,000 1991 1996 2001 2006 2011 2016 Historical Employment of Industrial Craft Workers Forecasted Demand for Industrial Craft Workers

Forecasted Demand for Industrial Craft Workers

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LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ OpportunityLouisiana.com ¡

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MANY CONSTRUCTION PROJECTS WILL REQUIRE OVER 1,000 WORKERS AT PEAK DEMAND

Source: Greater Baton Rouge Industry Alliance

400 500 644 650 1,000 1,500 1,500 1,500 2,000 2,100 2,500 3,000 3,000 3,000 7,000

1,000 2,000 3,000 4,000 5,000 6,000 7,000

Peak Construction Demand for Select Megaprojects

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LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ OpportunityLouisiana.com ¡

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  • 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

PROFESSIONAL JOBS WILL FOLLOW LOUISIANA'S NEW INDUSTRIAL CONSTRUCTION AND MANUFACTURING JOBS

22,843 25,903 55,952 86,484 25,286 28,617 58,724 103,382 Information Management of Companies and Enterprises Finance and Insurance Professional, Scientific, and Technical Services 2014 Jobs 2022 Jobs

Forecasted Professional Industry Employment Growth Through 2022

Source: QCEW Employees - EMSI 2014.3 Class of Worker

+10% +11% +5% +20%

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LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ OpportunityLouisiana.com ¡

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  • 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’S SOFTWARE DEVELOPMENT WORKFORCE WILL GROW EXPONENTIALLY

Source: LED Analysis

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LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ OpportunityLouisiana.com ¡

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  • Diversity amongst Louisiana’s fastest growing occupations (by growth %) mean that students will

have a variety of career options:

LOUISIANA’S SOFTWARE DEVELOPMENT WORKFORCE WILL GROW EXPONENTIALLY

Source: Louisiana Workforce Commission – Fastest Growing Occupations (by growth %) to 2022

OCCUPATION 10 YEAR GROWTH 10 YEAR % JOB 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
  • penings Louisiana will see in the coming years
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AGENDA

LOUISIANA ¡ECONOMIC ¡DEVELOPMENT ¡ OpportunityLouisiana.com ¡

9 EMPLOYMENT OPPORTUNITIES

LEVERAGING EDUCATION FOR MEANINGFUL EMPLOYMENT

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  • 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

JUMP START WILL HELP ENSURE PUBLIC HIGH SCHOOL GRADUATES ARE PREPARED FOR RAPID EMPLOYMENT

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THE FOLLOWING JUMP START GRADUATION PATHWAYS WERE APPROVED BY BESE IN OCTOBER 2014

Automobile Services Carpenter Certified Mechanical Drafter Certified Nursing Assistant Collision Repair Electrician Emergency Medical Technician Fashion Design for Costume and Film Four Stroke Engine Tech Industrial Maintenance Mechanic Internet Web Foundations Manufacturing Specialist Mobile Crane Operator Oil and Gas T2 Safety Systems Pipefitter Plumber Prostart/Restaurant Web Design Professional Welder Agriculture Tech Business Management Commercial Driver Digital Media and Entertainment Technology Health Sciences – Patient Care and Management Hospitality, Tourism, Culinary, and Retail Information Technology Manufacturing, Construction Crafts, and Logistics Mason STEM Sheet Metal Workers Technology Specialist Welder’s Helper

Statewide Graduation Pathways Regional and Integrated Graduation Pathways

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  • 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

WISE: A FIRST-IN-THE-NATION PARTNERSHIP BETWEEN INDUSTRY AND HIGHER EDUCATION

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LOUISIANA’S HIGHER EDUCATION PARTNERSHIPS HAVE ATTRACTED MAJOR TECHNOLOGY COMPANIES

Source: LED analysis

Computer science

  • $14 million over 10 years to increase the number
  • f computer science graduates
  • $29 million to build the Louisiana Digital Media

Center Digital media COMPANY HIGHER EDUCATION PARTNER NATURE OF PARTNERSHIP

  • $2 million to establish a professorship & expand

telecom technology curriculum

  • $5 million to fund enhanced software

development-focused academic programs INDUSTRY Telecom technology Software development Computer science

  • $14 million over 10 years to increase the number
  • f computer science graduates

Computer science

  • $4.5 million over five years to triple the number of

computer science graduates

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OpportunityLouisiana.com @LEDLouisiana

CONTACT

SUSIE SCHOWEN Workforce Initiatives Manager Louisiana Economic Development 225.342.5729 susana.schowen@la.gov