Oklahoma's Ecosystems: Accelerating the Growth of the State's Economic Prosperity
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Presented by: Deidre D. Myers Research, Economic Analysis & Policy Services Oklahoma’s Ecosystems: Accelerating the Growth of the State’s Economic Prosperity
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Transcript of Oklahoma's Ecosystems: Accelerating the Growth of the State's Economic Prosperity
Presented by: Deidre D. Myers
Research, Economic Analysis & Policy Services
Oklahoma’s Ecosystems: Accelerating the Growth of the
State’s Economic Prosperity
Economic Measures
Employment
Unemployment
Labor Force
Participation Gender
Age
Income
Education
Month-over-Month Employment
Source: BLS, Current Employment Statistics
-10
-8
-6
-4
-2
0
2
4
6
8
10
12
14
Emp
loym
ent,
in t
ho
usa
nd
s
Manufacturing All Other Employment
Year-over-Year Growth by State
Source: BLS, Current Employment Statistics (December 2011 to December 2012)
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%N
D
UT
AZ
MT
TX CO
OK ID SC IN HI
MN
GA
NC
WA
OH
NV KY
MA
CA
MO NY
TN NJ
LA OR KS
VT IA VA
MD FL IL PA
AR
NE
AK AL
DE
WI
MI
MS
SD RI
7 states had no employment growth or employment loss.
Year-over-Year Manufacturing Growth
Source: BLS, Current Employment Statistics (December 2011 to December 2012)
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
SD HI WA TN OK IN ID IA CO MI OR UT GA IL KS AZ OH SC MS WI NC RI NM NE PA MN TX KY MO FL ND
20 states had no manufacturing growth or loss
Unemployment Rate by State
Source: BLS, LAUS
County Unemployment Rates
Unemployment Rates by Cohort
-
5.0
10.0
15.0
20.0
25.0
30.0
35.0
Year-over-Year Labor Force Growth
Source: BLS, LAUS
-3%
-2%
-1%
0%
1%
2%
3%
4%
5%
6%
7%
DC
PA
UT
OK
NC
GA
NE
KY
LA TX MD IL NJ
ND
NY RI
NM MT
MA FL MI
WI
VA
DE
AZ
ME
CA ID NH
MN
CO
OH SC WV
SD AL
TN WY
WA VT
MS
MO KS
AK IA AR IN OR
NV CT HI
Oklahoma has the 27th largest population, but is ranked #9 in net workforce growth.
Labor Force Participation Rate
73%
57%
73%
55%
67% 65%
88%
57%
70%
52%
70%
52%
63%
58%
85%
54%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
OK male OK female White male Whitefemale
Black male Blackfemale
Hispanicmale
Hispanicfemale
Labor Force by Demographic
Labor Force Participation Rate Population Employment
Source: CPS, rolling average December 2011 through November 2012
OK Median Age by County
OK Median Household Income
OK Households in Poverty
Participation by Education
142.4
334.8
235.2
171.0
0 100 200 300 400 500 600 700 800 900
Less than High School
High School Diploma
Associate's Degree orCertificate
Bachelor's Degree andhigher
In thousands
Not in Labor Force Employed Unemployed
74.2% LFPR
60.0% LFPR
43.4% LFPR
66.4% LFPR
Source: CPS, rolling average December 2011 through November 2012
Bachelor’s Degree or Higher
Less than a High School Degree
OK’s Educational Gap for New Jobs
New Jobs defined as those jobs projected to be created between 2010 and 2020. Source: 2010 ACS; EMSI Complete Employment - 2011.4
45.8
22.9
31.3
48.9
15.4
23.7
7.5
4.5
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
2010 OKEducationalAttainment
OK New Jobs'Requirements
High School Degree and less Some college/Vocational/Associate's Degree
Bachelor's Degree Post Bachelor's Degree
Goals
Prioritize Resources
Align Policies
Maximize Outcomes
Require Accountability
Methodology
Wealth Generation
Competitive Advantage
Growth Potential
Sales Revenue Export Share Wages
Location Quotient Physical Assets
Workforce
New Markets Industry Trends Number of Establishments
Process
Step 5. Tested conclusions against macro economic data
Step 4. Aggregated findings to ecosystems that share economic characteristics
Step 3. Analyzed qualitative data including OK’s physical assets, R&D expertise and workforce strengths
Step 2. Identified those industries that ranked highest in each and all of the 3 categories
Step 1. Analyzed quantitative variables for wealth generation, growth potential and competitive advantage for 669 industries
Outcome
669 Industries
72 variables
48,168 data points
Wealth Generation
Growth Potential
Competitive Advantage
ECOSYSTEMS: The economic drivers of OK
Ecosystems
Aerospace & Defense
Parts & Components
Manufacturing
Maintenance, Repair & Overhaul
Unmanned Aerial Systems
Military Related Research &
Development
Energy
Machinery Manufacturing
Compressed Natural Gas
Vehicles
Distribution
Engineering Services
Agriculture &
Biosciences
Food Manufacturing
Commodity Production & Distribution
Fertilizer Manufacturing
Research & Development in Ag Biosciences
Information & Financial Services
Data Centers
Banking
Cyber Security
Computer Systems
Transportation & Distribution
Air, Rail, Water & Pipeline
Transportation
Transportation Equipment
Manufacturing
Warehousing & Storage
Wholesale Brokers
The specific industries listed under the ecosystems are neither comprehensive nor exclusive. They are only examples to demonstrate a diversity of activities. The number of individual industries included among the 5 ecosystems actually number over 200.
Vital Complementary Systems
Oklahoma’s Ecosystems
Infrastructure
• Construction
Quality of Life
• Health & Biosciences
• Tourism & Recreation
Skills, Knowledge, & Abilities
• Education
• Creative Industries
Regional & Micro Systems
State
Metro Stat Areas
OKC
Tulsa
Lawton
Multi County Regions
SCORE
NWOA
Southern WIB
Cities
Enid
Muskogee
Ardmore
Policies
Business Start-Up, Retention, Expansion & Recruitment
Workforce (STEM)
Incentives
Regulations
Infrastructure
Happening Now & Next Steps
Complete College America
OK Stem Report by Secretary of Science &
Technology
Governor’s Council Career Pathways
Project Lead the Way
