Presentation is loading. Please wait.

Presentation is loading. Please wait.

Presentation to the NC T ECHNOLOGY A SSOCIATION R EGIONAL T ECHNOLOGY S TRATEGIES C ARRBORO, NC June 17, 2011 Dare to Compare How does NC Stack Up?

Similar presentations


Presentation on theme: "Presentation to the NC T ECHNOLOGY A SSOCIATION R EGIONAL T ECHNOLOGY S TRATEGIES C ARRBORO, NC June 17, 2011 Dare to Compare How does NC Stack Up?"— Presentation transcript:

1 Presentation to the NC T ECHNOLOGY A SSOCIATION R EGIONAL T ECHNOLOGY S TRATEGIES C ARRBORO, NC June 17, 2011 Dare to Compare How does NC Stack Up?

2 Topics The North Carolina Economy yesterday & today The Rankings Systems North Carolina by Category Case Studies in State Technology Development Policy A Policy Comment Tangent 2

3 The North Carolina Economy in 1970 The Big 3 Textiles Tobacco Furniture The Big Three accounted for: 2/3rds of Manufacturing Employment 1/4qtr of Total Employment And they lost by 2007 Textiles 2/3rds of Manufacturing Employment Furniture 2/3rds of Manufacturing Employment Tobacco 60% of Manufacturing Employment 3

4 The North Carolina Economy in 2007 The New Big 5 represent 17% of NC GSP Technology Pharmaceuticals Financial Services Food Processing Automotive Vehicle Parts NC in the Connected Age (Walden, 2008) Fastest growing occupation – Professional & Scientific Workers Per capita income in NC grew faster than US as a whole Percent of population with college degrees approached national average 4

5 But People Keep Showing Up! 5

6 North Carolina Economy: Where next? Walden suggests Tourism, retiree migration Port development Air travel and Jack Kasardas Aerotroplis Others Aerospace with Spirit, Boeing and others Military related industry Green industries (the biotech of the 2010s) What will our panelists say? 6

7 Comparing States: Information Technology & Innovation Foundation (ITIF) The 2010 State New Economy Index Knowledge Jobs Globalization Economic Dynamism The Digital Economy Innovation Capacity 7 North Carolina 2010 = 24

8 Comparing States: Milken Institute State Technology & Science Index 2010 Human Capital Investment R&D Inputs Risk Capital and Entrepreneurial Infrastructure Technology and Science Work Force Technology Concentration and Dynamism 8 North Carolina 2010 = 13

9 Comparing States: National Science Board Science & Engineering Indicators 2010 Elementary/Secondary & Higher Education Workforce Financial R&D Inputs R&D Outputs Science & Technology in the Economy 9

10 Comparing States: Conexus Indiana 2011 Manufacturing & Logistics Report Manufacturing Health Logistics Health Diversification Global Reach Venture Capital PC Productivity & Innovation Tax Climate Benefit Costs Human Capital 10 North Carolina 2010 = B

11 Milken Institute Rankings 11 Human Capital Investment Inputs ($s) and outputs (grads, computers, internet)26 R&D InputsInputs ($s) and outputs (SBIR, NSF)16 Risk Capital & Entrepreneurial InfrastructureVC, incubators, patents8 Technology & Science Work ForceEngineers, scientists, IT15 Technology Concentration & DynamismHigh tech concentration, growth11 North Carolina by Category

12 ITIF Rankings 12 Knowledge JobsIT, Educ, Migration28 GlobalizationExport, FDI10 Economic DynamismChurn, IPOs, patents30 Digital EconomyOnline, digital gov33 Innovation Capacity High tech jobs, scientists, patents, R&D, VC22 North Carolina by Category

13 Positive Rankings (NC State Rank) 13 Percent Change in State Appropriations for Higher Education ( )3 Science, Engineering, and Health Postdoctorates Awarded per 100,000 People Ages (2006)7 State Appropriations for Higher Education, Per Capita (2010)6 R&D Expenditures on Biomedical Sciences, US$ per Capita (2007)4 R&D Expenditures on Life Sciences, US$ per Capita (2007)4 VC Investment in Nanotechnology per $1,000 of GSP ( )5 Intensity of Medical Scientists per 100,000 Civilian Workers (2008)7 Number of High-Tech Industries Growing Faster than U.S. Average ( )1 Foreign Direct Investment7 Health IT15 Alternative Energy Use15

14 Negative Rankings (NC State Rank) 14 Percentage of Households with Internet Access (2007)39 IPO Proceeds as Percent of GSP ( )30 Percent of Establishments in High-Tech NAICS Codes (2006)31 Workforce Education37 Entreprenuerial Activity41 Inventor Patents (Private)44

15 What Does This Tell Us? As the John Prine songs says Pretty good, not bad, cant complain Can you compare the rankings? What do they think is important? Do they place the actual measures into the same categories? Are they measuring inputs or outputs? What are the politics involved? What do we do with it What do you have control over? Are differences significant? 15

16 Case Studies Colorado – ranks highly (3 rd Milken, 9 th ITIF, A Conexus Indiana) Kansas – ranks middle (23 rd Milken, 26 th ITIF, C Conexus Indiana) Kentucky – ranks low (47 th Milken, 39 th ITIF, D Conexus Indiana) 16

17 Lets Take a Little Tangent 17

18 Innovation and Business Size In the 1960s John Kenneth Galbraith declared that the large industrial firm had won the economic battle and proposed the new industrial state economic policy. In the late 1980s David Birchs much cited but methodologically flawed analysis claimed that nearly all net new job growth was due to small businesses. Now big business was dead and the entrepreneurial state was proposed. 18

19 The Numbers Battle Politicians proclaim that 90% (or 80% or 92%) of net new jobs are created by small entrepreneurial firms. Birch originally said 80-85%. The Bureau of Labor Statistics completed the first rigorous analysis of size and net new job growth and they found… 19

20 Net Job Growth Small firms (1-99 employees) created 47% Mid-size firms ( ) created 17% Large firms (500+) created 36% Recent research tends to say that the age of the firm is the most important characteristic in explaining net job growth 20

21 But What is Really Important? The different roles taken on by small and large firms together create more technological progress, innovation and growth than either category could have achieved by itself. William Baumol, Princeton University Small and large firms have a symbiotic relationship 21

22 Chris Beacham - Regional Technology Strategies, Inc.


Download ppt "Presentation to the NC T ECHNOLOGY A SSOCIATION R EGIONAL T ECHNOLOGY S TRATEGIES C ARRBORO, NC June 17, 2011 Dare to Compare How does NC Stack Up?"

Similar presentations


Ads by Google