The terms and definitions differ, but pretty much every state and region has a set of industry groups that dictate new policies, initiatives, and research. For economic developers, these clusters or ecosystems are vital to retaining and attracting businesses.
For economic development professionals, the stakes are high when demonstrating workforce availability. In fact, according to the 2014 Area Development survey of company executives, the availability of skilled labor has rapidly become the No. 1 factor in site decisions (labor costs are No. 3).
Economic Modeling Specialists Intl. is pleased to announce the release of EMSI Developer: new, web-based research software for economic development professionals that brings powerful labor market data analytics (and answers) to the surface with just a few clicks.
Which businesses and industries should you focus on? How do you prioritize your time and resources? Labor market data can help you answer these questions in much quicker and simpler ways than you may think.
It was a major win for Jacksonville, Florida, but it didn’t come easily. The city competed against 12 other regions for the new GE Oil & Gas plant—an advanced manufacturing facility that will add about 500 jobs to the area, paying an average annual wage of over $48,000 with many opportunities for high-paid engineers.
In southwest Virginia, coal miners are facing a grim reality. The coal mining industry has dwindled from over 12,000 jobs in 1990 to less than 4,000 in 2013, not only changing the lives of those workers but also the scope of the local economy. And, since occupations in mining, quarrying, and oil and gas extraction offer the highest overall earnings in the region, it’s difficult for laid-off workers to find comparable employment.
North Carolina is home to Research Triangle Park, where universities share workspace and ideas with more than 200 companies with expertise in microelectronics, telecommunications, biotechnology, chemicals, pharmaceuticals, and environmental sciences. The Park is one example of how the power of higher education, collaboration, and thought leadership can strengthen a region’s economy—and it doesn’t stop there.
You may have heard the exciting news that EMSI is offering an online class, Tools and Techniques for Understanding Urban Economies, through the certificate program at NYU School of Professional Studies. The class begins March 25 and you can register here.Want to learn more? Sign up for our March 12 webinar where Rob Sentz, chief innovation officer at EMSI, will discuss the focus […]
If you are an economic development professional and would like to gain the competitive edge and a valuable credential, here is a fantastic new opportunity.Last fall, the NYU School of Professional Studies launched the Initiative for Creativity and Innovation in Cities. The Initiative offers a certificate program built to provide economic development professionals with the […]
EMSI’s report gave Marshfield officials the answers they needed to move forward with confidence that the proposed sand processing plants would contribute to Wood county’s economic vitality. Three years later, EMSI’s impact estimates are coming to fruition.