1 Economic Development Essentials June 12, 2012

2 Oklahoma’s Public Colleges and Universities are Moving Forward…

3 We must assemble the tools and resources needed to build a stronger economy….

Young adults in America today are expected to finish their formal education with fewer college credits than their parent’s generation

6 “The cornerstone of our success in America has been the opportunity for the next generation to be better educated than the previous generation.”

In The Global Economy of the 21 st Century, 90 Percent of the Fastest-Growing Jobs Will Require a Higher Education. 2

If Oklahoma is going to remain economically competitive, we must have the best educated and productive workforce that we can assemble.

Nationally, more than one-quarter (27.9 percent) of adults 25 and older have a bachelor’s degree or more, compared to Oklahoma at 22.7 percent.

State Per Capita Personal Income v. Share of Adult Population with Bachelor's Degree or Higher No state with a low proportion of Bachelor’s degrees has a high per capita income. No state with a high proportion of Bachelor’s degrees has a low per capita income. States with high proportion of bachelors degrees States with low proportion of bachelors degrees Outlier state that has high income and low degree attainment

PROFESSIONAL DEGREE DOCTORATE DEGREE MASTER’S DEGREE BACHELOR’S DEGREE ASSOCIATE DEGREE SOME COLLEGE NO DEGREE HIGH SCHOOL GRADUATE LESS THAN HIGH SCHOOL % 10% 15% ANNUAL SALARIES IN 2009 UNEMPLOYMENT RATE IN 2010 $146,659 $116,305 $87,913 $68,812 $49,835 $47,484 $39,937 $30, Source: Bureau of the Census; Bureau of Labor Statistics

3,798,9405,254,193Professional degree 2,527,3243,982,577Doctorate 1,507,8232,963,076Master's degree $1,111,921$2,567,174Bachelor's degree 346,1201,801,373Associate degree 270,5691,725,822Some college, no degree 01,455,253High school graduate -304,5551,150,698High school dropout -$478,903$976,350Less than 9th grade Difference Compared to High School Graduate Estimated Lifetime Earnings Education Level The Impact of Education on Individuals: Lifetime Earnings U.S. Department of Commerce-Economics and Statistics Administration-U.S. CENSUS BUREAU 12

Percent of Oklahoma Residents Who Graduate with a Bachelor’s Degree Remain In the State and are Employed In the State One Year After Graduation Employment Outcomes After One Year Source: 2011 Employment Outcomes Report 89% Remain in the State 13

Link Academic Programs to the needs of Business Healthcare, Allied Health and Nursing Engineering Aviation Wind Turbine Technologies

15 Nationally, Oklahoma is Ranked: 8 th in Higher Education Efficiency 8 th in College Affordability 16 th in STEM Job Growth Source: “Enterprising States” – A Project of the US Chamber of Commerce and the National Chamber Foundation

FallinForBusiness.com Perceptions of Oklahoma’s Business Climate “The Quality of our two/four year college and university system” #1 Business Climate Strength in the State 16

17 FallinForBusiness.com Highest Ranked Business Climate Factors Quality of 2/4 year College/University system Access to supplies required to conduct business Career-Tech System Preparation for the workplace Affordable housing options for employees Recreational opportunities Perceptions of Oklahoma’s Business Climate

Increase Degrees and Certificates by 1,700 per year. Increase Degrees Earned from 30,500 in 2011 to 50,900 in % Increase by

For every state appropriated dollar spent on higher education in Oklahoma an additional $5.15 is pumped into the Oklahoma economy. The Oklahoma’s system of higher education will produce over $3.2 billion in growth in the state’s gross domestic product; Higher Education’s capital and construction spending are expected to add 23,750 jobs to the Oklahoma economy; By the end of the next decade, Oklahoma’s gross state product (GSP) will increase by $ billion through higher education’s continued contribution to the economy;

20 Economic Development Essentials June 12, 2012