Targets of Opportunity and Growing Occupations

What industries should we focus on? Targets of Opportunity

Five quality factors identify Targets of Opportunity CRITERIAINTERPRETATION Expanding Opportunity Job Growth Firm Growth Growing QualityJob Quality…higher and increasing wages Improving Competitiveness Strong and/or growing regional specialization Career Potential Occupational dynamics and distribution Key LinkagesImportant relationships and common needs

Six Targets of Opportunity  Diversified Health Care  Building and Systems Construction and Maintenance  Specialty Agriculture, Food, and Beverage  Investment Support Services  Management and Innovation Services  Niche Manufacturing

How much do the Targets matter? CriteriaRegionTargets Job growth4%37% Firm growth1.5%23% Wage growth6%10-26% Together, the Targets of Opportunity Industries contributed 39% of the jobs and 53% of the wages in the region’s private sector over the last 15 years.

All 6 Targets of Opportunity demonstrate a compelling trend TargetsJobsFirmsWages Diversified Health Care 45%34%26% Building Systems22%-4%14% Specialty Food, Flowers and Beverages 33%11%25% Investment Support Services14%22%23% Management & Innovation Services 125%80%10% Niche Manufacturing33%19%25% A sustained, structural shift in our economy.

REDWOOD COAST GROWTH OCCUPATIONS

GROWING OCCUPATIONS: New and Replacement Jobs

ANNUAL JOB OPENING PROJECTIONS BY OCCUPATIONAL CATEGORIES

GROWING OCCUPATIONS BY TARGET AREA

DIVERSIFIED HEALTH CARE

Diversified Health Care

BUILDING SYSTEMS & CONSTRUCTION MAINTENANCE

SPECIALITY AGRICULTURE, FOOD & BEVERAGES

INVESTMENT SUPPORT SERVICES

MANAGEMENT & INNOVATION SERVICES

NICHE MANUFACTURING

Summary of Findings  6 high performing industries  53% of private sector payroll and almost 40% of jobs  Some familiar, some totally new industries for economic/workforce development to address  Demonstrated over a 15-year period that they have staying power  Sustained, structural shift in Redwood Coast economy  All counties share…it’s a regional economy  All industries pay above the median, and/or fast rising  All with appealing, robust career spans  Quality of Life key to attraction/retention  All report need for more workers and talent

What’s being done  City of Arcata using Targets of Opportunity for update of economic development strategic plan  Fortuna High School integrating Targets/Occupations into curriculum for seniors  College of the Redwoods analyzing their curriculum using Targets/Occupations  CR hosting regional video conference for community college counselors  Designing tools for people to investigate new careers  Planning series of regional summits

Targets of Opportunity and Growing Occupations Reports available at