Association of Defense Communities March 1, 2016 Synchronizing Installation Missions/Infrastructure with Regional Economic Development.

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Presentation transcript:

Association of Defense Communities March 1, 2016 Synchronizing Installation Missions/Infrastructure with Regional Economic Development

Copyright 2016 Chmura Economics & Analytics Overview ❖ Mindset of regional economic developers ❖ Attract and retain firms in the region ❖ Potentially lift wages ❖ Supply chain from the bases ❖ Business retention ❖ Identify leakages – contractors out of the region when you have regional firms that can do the work ❖ Promote the region because of assets related to the bases ❖ Industry clusters ❖ Workforce skills

Copyright 2016 Chmura Economics & Analytics Primer on Regional Data ❖ North American Industry Classification System (NAICS): employment by industry (manufacturing, professional services, etc.) ❖ Standard Occupation Classification (SOC) code: employment by occupation/skill (welder, machinist, economist) ❖ Firms want to know if you have enough people in particular occupations ❖ Rural areas are especially challenged 3

Copyright 2016 Chmura Economics & Analytics Supply Chain: Business Retention 4 Source: Chmura Economics & Analytics.

Copyright 2016 Chmura Economics & Analytics Identify Leakages 5 Source: Chmura Economics & Analytics.

Copyright 2016 Chmura Economics & Analytics Identify Leakages 6 Source: Chmura Economics & Analytics.

Copyright 2016 Chmura Economics & Analytics Identify Leakages 7 Source: JobsEQ

Copyright 2016 Chmura Economics & Analytics Current Assets: Industry Clusters 8

Copyright 2016 Chmura Economics & Analytics Current Assets: Occupation Clusters 9

Copyright 2016 Chmura Economics & Analytics Workforce Skills 10 Source: JobsEQ

Copyright 2016 Chmura Economics & Analytics Workforce Skills: Military Exits 11 Source: JobsEQ

Copyright 2016 Chmura Economics & Analytics Create Strategies Around: ❖ Supply chain from the bases ❖ Business retention ❖ Identify leakages ❖ Promote the region because of assets related to the bases ❖ Industry clusters ❖ Workforce skills

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