Business
City of Central Chamber of Commerce C4 Report
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Week before last, I started a series of articles on Economic Development. Before we forge ahead, let’s review a few points.
Economic development is vital for every city in our area and every city is competing in this arena. Economic Development, simply put, is wealth building. In any community there are at least five facets of economic development that must be considered if growth is to continue to take place. Those facets are: Workforce Education, Infrastructure, Leadership, Business Industry, and Recruitment. This week we consider the aspect of “Workforce Education.”
Many people might not see education as a part of economic development. However, to see that education and economic development go hand in hand, all you have to do is look at a recent headline that read, “Chicago to Close 54 Schools.” That is a staggering prospect! Think of all the teachers, staff, etc. that will no longer be necessary. Buildings, once the hub of community pride and development, will now remain empty and abandoned.
Bear with my ramblings for a brief moment. When education declines or is inadequate, a quality workforce disappears; as quality a workforce disappears, business productivity is hindered; as business productivity is hindered, the economy declines; as the economy begins to decline, people begin to move; as people begin to move workforce, shoppers and clients move; as workforce, shoppers and clients move, businesses begin to close; as businesses close and people move, the tax revenues decrease; as tax revenues decrease, funding for education decreases; as funding for education decreases, education declines; as education declines…. This may be an over simplification of the process and you may see the cycle occurring in a different order but I trust that the point is clear. Education in a community and economic development go hand in hand!
Among high school graduates in Louisiana, only about 27% will go on to earn a college degree and many of those will be drawn to other states. One of the struggles our region has had for years is that we are not creating and retaining a quality workforce at all the various levels of need. It is obvious that education must be able to accomplish a twofold task. Education must exists that can prepare, and help increase beyond 27%, those who become the college graduate professionals. However, equally as important, educational programs must also exist for that other 73%! These programs must be able to prepare them to become a highly skilled and in demand workforce. Once this is accomplished we must have jobs and incentives that help to keep these people in our state and in our area!
The creation of a strong and vibrant workforce is essential to the economic development and stability of our region. Institution of government, education and commerce must work together to establish this workforce. Together and cooperatively we can create an environment that produces a strong workforce and promotes economic growth and stability for years to come.
Ron Erickson
President – Central Chamber of Commerce
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