• Economic development leaders will focus on jobs that require more than a high school education.
• Local manufacturers will face a competitive landscape where creativity and efficiency are at a premium.
• Small businesses and entrepreneurship will be increasingly important to the local economy.
Clark County’s current and future economic recovery will not resemble the glory days of 2004, when the housing bubble was ever-expanding and cash flowed without collateral. The prolonged recovery from recession is especially painful in Southwest Washington, more so than in greater Portland and the state of Washington.
However, we know that strong recovery includes jobs that require more than a high school education, whether they come through an apprenticeship, a community college, private career college or university. Research shows that people who gain credentials in math and science disciplines are more successful than others, as a whole.
Nationally, manufacturing jobs began declining in 1979 and the downhill trend has continued ever since. In earlier times, the county attracted highly paid jobs that required relatively low skill levels. Those jobs were the first to go offshore. Most of the manufacturing jobs that could move overseas simply for low wages have done so by now.
Today, manufacturing jobs generally pay strong wages for a good reason — they require skilled workers. Local companies moving operations overseas do not move for cheap labor, but for skilled labor. Manufacturing workers no longer simply operate 20th century machines; they now operate highly technical machinery as well as calibrate and repair it, requiring some advanced technical education, not to mention a thorough grounding in math and science.
Manufacturing continues to be a strong foundation of our economy, but our companies must become more competitive to survive. That means becoming more creative and efficient in the manufacturing processes and using more technology to produce goods. Companies and workers who are skilled in lean manufacturing concepts will be more likely to succeed than others.
What will fill the gap left in our economy? Knowledge jobs are one avenue. We are already seeing a high demand for software and information technology professionals: people with bachelor’s and advanced degrees who can design, adapt and use information technologies. The demand is even greater for professionals who know a specific industry and can add and apply IT skills. For example, demand is growing both locally and nationally for nurses or other medical professionals who also have strong IT skills, with certifications.
What will drive development of our knowledge economy? Education, of course. Investments in education at all levels are more important than ever. Education develops the intellectual potential that will become the “natural resource” for business development.
Our new economy will also see more entrepreneurs than ever before. While not everyone can be a Steve Jobs or Bill Gates, our nation has a long tradition of nurturing small businesses. Individuals may work on a consulting basis or they might stitch together multiple seasonal jobs. Entrepreneurs might launch an enterprise with ambitious growth plans. Our PubTalk events have had a role in nurturing more than 20 new startups, connecting them with expertise and capital to make their ambitions real.
An educated, IT-proficient workforce is a fundamental cornerstone in economic development. Skilled workers allow local businesses to grow and thrive and attract strong businesses from outside the region. Our county’s educational institutions play a large role in Clark County’s new economic development plan because the jobs of the future lie with skilled workers.
