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1 BRAC Grantee Meeting Exploring the Road to the Future October 3, 2006.

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Presentation on theme: "1 BRAC Grantee Meeting Exploring the Road to the Future October 3, 2006."— Presentation transcript:

1 1 BRAC Grantee Meeting Exploring the Road to the Future October 3, 2006

2 2 Our Objectives  Build awareness of ETA’s vision for regional economic transformation Based on the WIRED framework  Align around our common challenges Associated with BRAC activities  Explore ways that regional planning can help meet the challenges of our future together

3 3 Welcome ETA Leadership!  Emily Stover-DeRocco; Assistant Secretary, ETA  Mason Bishop; Deputy Ass’t. Secretary, ETA

4 4 The Road to the Future Exploring Regional Economic Transformation: Talent Driving Prosperity Richard D. Maher President, Maher & Maher Project Consultant

5 5 What we’ll cover...  Introduction and Context Evolution of Demand Driven, HGJTI and WIRED initiatives Need for continued innovation  Share a new framework for talent-driven economic growth  Get you involved!

6 6 Today’s Economic Reality The U.S. economy is changing structurally: factors impact businesses and the support services/infrastructure they require 2.permeation of technology throughout all industry sectors has elevated occupational skill requirements 3.requires “talent development” to be a major part of economic development planning

7 7 Your System’s Response  Workforce system pros have been busy! Demand-driven & HGJT initiatives embraced Community-based grants moving forward  Curricula/other tools for high-growth industries WIRED grantees are innovating

8 8 Interagency Working Group on Manufacturing  Conduct a comprehensive review of the issues influencing long-term competitiveness of U.S. Manufacturing. 57 “Manufacturing in America” recommendations Workforce Education & Development Sub- committee: “To identify key strategies and solutions, developed collaboratively with business and industry, the education system, and the workforce system, with a wide array of other strategic partners at the table …”

9 9 Subcommittee Outcomes and Strategies  Vision for career-focused, academic-based education;  A manufacturing “education and training” assessment tool;  Development of a resource guide to support strategic partnerships; and,  Development and dissemination of models and strategies for regional economies in transition

10 10 Globalization means we’re all transitioning! Transformational economic change cannot be confined to political jurisdictions or specific industries Effects pay no attention to geopolitical boarders Impact both businesses and workers Effects felt by broad range of firms throughout industry clusters  Supply chains expand impact beyond “epicenter”  Effects felt by multiple communities comprising “new regions”

11 11 Why “Regional”?  It is today’s economic reality economic shocks do not recognize borders  Infrastructure (physical & virtual) means workers and “work” are further apart  Only a regional economy can contain all the necessary assets to compete  Regional collaboration fosters innovation offers a global competitive advantage

12 12 Transformation Globalization Requires Transformation  We need to create a new culture... a new social network and partnership that is...  Intentional;  Positive; and,  Sustainable

13 13 Outcome: The Transformation Education, Workforce and Econ. Development Systems Individuals in Workforce Entrepreneurial Culture Regional Economy Integrate regional education, workforce & econ. devel. systems to perform better for individuals & businesses Change individual workers through their own efforts to upgrade skills and develop a habit of life-long learning Create a regional attitude that values risk-taking and collaboration - supports a strong entrepreneurial environment Change economic structure to a new mix of industries that offer jobs with high and rising wages for workers

14 14 Economic Development Models  OLD Model  OLD Model: Characterized by competition across political borders (state and local)  NEW Model  NEW Model: Characterized by an innovative, collaborative culture within regional economic zones

15 15 IAWG Recommendations  Developed initially for communities with a significant manufacturing base in need of transformation  Transformed as a resource for any region in transition Do you need to plan for regional economic transformation?

16 16 Assets for Regional Planning  human capital  financial capital  industrial base  physical and technological infrastructure  research and development institutions, and  those firms and organizations that “productize” and bring innovations to the regional and global marketplaces

17 17 WIRED Framework for regional economic transformation

18 18 The WIRED Blueprint - 5-Step Process

19 19 STEP 1 : Identify Regional Economy What surrounding areas share the same economic structure? What are our collective assets? Human capital Financial capital Research & development institutions Industrial base Infrastructure Legal & regulatory environment Quality of life Networks Business & policy culture

20 20 Innovation is the Driver!

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22 22 STEP 2 : Form Core Leadership Group A partnership network that represents the region’s assets: Area’s colleges and universities Venture capital firms Economic development agencies Government and political leaders Private foundations, and A cross-section of the region’s businesses Workforce Development agencies  National, regional, state, local

23 23 Leadership Group Must... Represent critical partners/organizations  Commitment from senior executives Collaborate in SWOT analysis  asset mapping, critical self-assessment Appropriately shared financial and resource contribution to the partnership Provide products, tools, expertise, promising practices, research, learning

24 24 Step 3: SWOT Analysis  Discover strengths, weaknesses, opportunities and threats (S.W.O.T.)  Critical self-analysis Comprehensive Time-consuming Invaluable  Definitely not optional

25 25 Key Questions  Are physical, virtual and governmental infrastructures prepared to establish and sustain a prosperous regional economy?  Do we have the right workforce to support and sustain our plans?  Are educational infrastructures prepared to develop sufficient talent?  Do we have a culture of collaboration, innovation and entrepreneurship?

26 26 Assessing Human Capital  Investment in institutions that create and nurture talent K-12, community colleges and universities.  Measures: National Assessment of Educational Progress SAT and ACT scores Graduation rates Quality of higher education – Media rankings and endowments Educational attainment, including alternative education and apprenticeships – Census, NSF, BLS Primary research – “Advancing Indiana” Series of economic development forums throughout region

27 27 Are Regional Assets Networked?  Survey to measure asset networking! Council on Competitiveness: Regional Business Survey, Section 2 ETA WIRED initiative WIRED regional assessment Key Networks:  School districts with 2 and 4 yr. colleges  Universities with entrepreneurs and capital firms  OEMs & suppliers

28 28 STEP 4: Devise Innovation Strategies  Devise strategies that hold the greatest potential to spur innovation in: Infrastructure Investment Talent development

29 29 What is your Transformation Scenario? Develop the Region’s Vision for Transformation  Innovation generated through Research (R & D) Intellectual Property formation  New initiatives for capitol formation?  New innovations brought to market?  New markets developed?  New industries developed?  Others?

30 30 FOCUS – A Transformational Key  The Focus: What is the one, critical issue that needs to be resolved to achieve our vision?  The focus must be regionally- based and specific:  “ What needs to be done to assure the supply of _______ workers into our workforce to support the expansion of our _______ sector?”

31 31 Leadership Team Role  Divide leaders into sub-teams  Infrastructure, Investment, talent development  Identify innovative solutions that: Leverage regional strengths Mitigate regional weaknesses/limitations  Provide leadership that transcends “turf” Allegiance must reside with the region  Find a common, unifying theme and focus

32 32 STEP 5: Leverage Resources and Implement Strategies  Locate and align resources to implement regional strategies  Private  Non-profit  Government

33 33 Strategies at Work  The Nanotechnology Institute Funded by:  Ben Franklin Technology Partners  University of Pennsylvania  Drexel University  Pennsylvania Initiative for Nanotechnology Help companies bring technology to market  $42 M in public funds invested  Leveraging $375 M in private, university & federal rewards  125 companies directly benefited

34 34 Transforming N.E. Pa. Region  IBM Competitiveness Study identified NE PA as financial sector asset Needs of SEC-regulated financial institutions for redundancy and diversity Proximity to NYC Broadband infrastructure Communications asset makes region attractive  Unique regional advantage: Safeguards America’s financial assets  Supports US homeland security NYC

35 35 Why now?  Time is our enemy... “American dominance in the next generation of technologies leading to innovations for economic and societal benefit is under significant challenge on two fronts. First, China and India have reached a knowledge and innovation pact that will seek to resurrect the Silk Road of the 21st century around competencies in critical industries. Second, we have been unwilling or unable to break barriers, cross boundaries and abandon the 19th century political jurisdictions that served us well in an agrarian society.” Richard Seline, CEO & Principal New Economy Strategies, LLC

36 36  Offers a regional economic planning model - direction for communities in transition  Provides a framework for effectively Avoiding economic traumas Responding to unexpected economic events  Assists in quick and effective response  Provides a framework for... Collaborative decision-making Effective communication and social networking The Benefits...

37 37 ETA Resources  Catalogue of Federal Opportunities and Assistance for Worker and Community Transitions  Promising practices shared from ETA WIRED initiative WIRED Regional Assessment  Federal Resource Mapping TA Connections to variety of Federal resources  Quick-Start Action Planner (QSAP) Coming soon to Workforce 3 One!

38 38 Group Activity – Part 1  Identifying and defining your impacted regional economy. Is there a “region” that makes itself obvious to you?  BRAC related?  Other issues/criteria?

39 39 Group Activity – Part 2  Identifying key senior executives for your Leadership Group. Who are the senior leaders from the organizations represented in your region?  Who are the opinion leaders? How will you engage them?  Who are the potential resistors? What plans can you identify to over-come their resistance and gain their support?

40 40 Group Debrief  Describe your region In geographical and in terms of “assets”  Who is on your leadership team? Key opinion leaders/key resistors.  What are the opportunities you see as a result of this approach?  What is your greatest challenge with getting started?  What type of continuing TA would you like to receive?

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