In this Metropolitan Statistical Area (MSA) comprehensive economic development strategy Plan, we delve into a strategic SWOT analysis, identifying the strengths, weaknesses, opportunities, and threats facing your local economy. Our focus extends to enhancing the quality of life through initiatives aimed at expanding labor supply, increasing affordable housing options, and bolstering public safety measures. The Plan outlines innovative strategies for entrepreneurial ecosystem development and attracting new businesses while supporting existing ones. It presents current statistics on the labor force, population, and income levels, alongside emerging trends. This data-driven approach ensures a holistic understanding of our economic landscape, providing a foundation for informed decision-making and targeted development efforts. The Plan not only reflects the current economic status but also charts a path forward for sustainable growth and prosperity.
Subject Region: Metropolitan Statistical Area (MSA)
Delivery Time: Next Business Day
File Type: Color PDF
Length: 40 to 50 pages
Table of Contents:
Economic History - A historical overview of the economic conditions, highlighting key developments and shifts that have shaped its current economic landscape.
SWOT Analysis - Every community has a unique set of strengths, weaknesses, opportunities, and threats (SWOT) in its quest to attract a skilled workforce and new industries. This analysis delves into these factors, providing insights into your community's potential for economic expansion and workforce development.
Quality of Life - This section summarizes the significant strides made and outlines strategic approaches and key focus areas to further improve the quality of life in your community.
Labor Supply - This analysis explores various strategies that can be implemented to engage more of the local population in the workforce, thereby bolstering the community's economic vitality and inclusivity.
Affordable Housing - Ensuring a sufficient supply of affordable housing is crucial for the sustained well-being and diversity of the community. This section outlines strategies, specific to your community, to increase affordable housing availability in your community.
Public Safety - Public safety is a multifaceted issue that requires a comprehensive and proactive approach. This section outlines key strategies to improve public safety in your community focusing on community engagement, law enforcement effectiveness, and technological advancements.
Entrepreneurial Ecosystem - An entrepreneurial ecosystem is vital for a community because it fosters innovation, creates jobs, and drives economic growth by supporting startups and small businesses in their journey from idea to execution. This section summarizes the significant strides made and lists additional programs and resources to develop.
Business Attraction - This section identifies the types of companies most likely to find your community an attractive destination for either relocating their operations or expanding their existing business footprint.
Workforce Development - A workforce development strategy is essential for a community because it ensures that the local labor market is equipped with the necessary skills and education to meet the demands of employers. This section covers strategies and programs that will enhance economic competitiveness and improve the quality of life for residents.
Broadband - The availability of high-speed internet is central to effective economic development. This section discusses capacity gaps in the digital infrastructure of the region.
Economic Equity - Economic equity is crucial for a community as it ensures fair access to opportunities, resources, and support for all individuals. The section offers actionable steps to foster a sense of belonging and participation among all community members, driving sustainable economic growth and enhancing the overall well-being of the community.
Economic Resilience - A community's economic prosperity is linked to its ability to prevent, withstand, and quickly recover from major disruptions to its economic base. In this section we list ways to build responsive capacity and better anticipate, withstand, and bounce back from any type of shock, disruption, or stress the community may experience.
Strategic Framework & Action Plan - A list of actionable steps for community leaders to improve quality of life and economic prosperity for your community.
Current Demographic & Labor Statistics:
- Economic Overview
- Population
- Total Jobs
- Median Household Income
- Labor Force
- Educational Attainment
- Unemployment
- by age
- by gender
- by race
- by ethnicity
- Historic & Projected Trends
- Population
- Jobs
- Labor Force Participation
- Unemployment
- Population Trends
- Millennials
- Retiring Soon
- Racial Diversity
- Veterans
- Violent Crime Rate
- Property Crime Rate
- Inbound & Outbound Migration
- Net Commuters by Zip
- Inbound and Outbound Migration by County
- Industry Characteristics
- Jobs by Industry vs National Average
- Top Growth Industries
- Industry Concentrations
- Gross Regional Product by Industry
- Average Earnings per Worker by Industry
- Business Characteristics
- Job Posting Volume by Employer
- Number of Companies by Employee Count
- Workforce Characteristics
- Number of Jobs per Occupation vs National Average
- Top Growing Occupations
- Top Earnings by Occupation
- Job Postings by Occupation
- Underemployment by Education Level
- Educational Pipeline
- Graduate Count per Area College
- Graduate Count Trends per Area College
- In-Demand Skills
- Specialized Skills Demanded vs National Average
Plan Analyst: Toby Teeter
Toby is the Associate Vice Chancellor of Economic Development and a lecturer at the University of Arkansas. Previously, he was the Joplin Area Chamber of Commerce President/CEO, where he focused on fostering a robust entrepreneurial ecosystem and championing innovation culture, as well as attracting both talent and new industry to the region.
