Transcript Chamber of Commerce presentation

Presentation to the State Council of Higher Education
Barry DuVal, President & CEO
OUR MISSION
Our MISSION is to be the leading non-partisan
business advocacy organization that works in
the legislative, regulatory, civic and judicial
arenas at the state and federal level to be a force
for long-term economic growth in the
Commonwealth.
@vachamber
OUR VISION
Our VISION is to be the voice of the
Virginia business community and the
most influential business advocacy
organization in the Commonwealth.
@vachamber
TOP GOVERNMENT AFFAIRS ASSOICATION
• Recognized by Southern Political Report as top
Government Affairs Association in Virginia
VIRGINIA CHAMBER MEMBERS
2013
13,500
= 25 Virginia
Chamber Members
2016
25,884
BLUEPRINT VIRGINIA IMPLEMENTATION
2015 Events
Financial Forecast
Chamber Day / ODA
Best Places to Work Luncheon
Energy & Sustainability
Fantastic 50 Awards
Annual Dinner
Health Care
Oil Export Event
Trade & Infrastructure
Early Childhood Luncheon
Workforce
Congressional Luncheon
Economic Summit
State of the Commonwealth Regional Rollouts
TOTAL= 5,245
620
600
401
409
410
282
490
50
284
160
366
177
716
280
State Business Rankings
Alabama
Delaware
Florida
Georgia
Kentucky
Maryland
Mississippi
New Jersey
New York
North Carolina
Pennsylvania
South Carolina
Tennessee
Virginia
West Virginia
Forbes
CNBC
45
17
20
11
28
33
49
41
29
2
36
25
19
7
50
38
37
10
8
35
30
47t
34
29
5
33
27
18
13t
47t
Enterprising
CEO
Site
States
Magazine Selection
43
15
32
37
44
16
45
36
24
22
38
34
35
12
47
20
13
2
8
24
43
42
47
49
3
36
7
4
12
35
11
14
1
3
18
2
10
7
12t
-
Pollina
Business
Facilities
21
31
11
12
28
38
25
48
27
7
44
13
15
4
45
1
4
8
6
9
-
State Business Rankings
Virginia Over 10 Years of State Rankings
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
Forbes
CNBC
-
13t
12
8t
5t
3
1
2
1
2
1
-
7
4
1
2
2
2
1
1
1
1
-
Enterprising
CEO
Site
States
Magazine Selection
12
14
12t
12
11
10
5
7
8
3
6
5
6
7
4
2
4
4
7
3
4
8
9
4
7
12
9
11
Pollina
4
4
4
2
1
1
1
3
1
2
-
Business
Facilities
9
*
*
5
3
3
2
5
6
7
-
* The Business Facilities study only ranks the top 10 states each year. Years marked with an * show the years Virginia
did not make the top 10.
State Business Rankings
A Closer Look: Virginia’s Strengths
WORKFORCE & EDUCATION
Virginia’s workforce is ranked in the top in the nation:
Forbes #2
CNBC #3
Virginia’s schools are ranked in the top of the nation:
CNBC # 5
Wallet Hub #7
State Business Rankings
A Closer Look: Areas to Improve
WORKFORCE & EDUCATION
#41 – State/Local $ Per Full-Time College Student
(Pollina; State Higher Ed Executive Officers)
#28 – High School Completion (U.S. Census Bureau)
• % of population, 25 years or older, completing high school or higher
#28 – Grad. Rate for Associate’s Degree Students (NCES)
#28 – College Affordability (Enterprising States)
#21 – % of Associate’s Degrees Awarded (NCES)
#22 – Higher-Ed Degree Output (Enterprising States)
• Measures degree output and talent production
HOW’S VIRGINIA DOING?
85 percent of job growth in Virginia over the last
two years came from low- and medium-wage jobs
 Our unemployment rate is below the national
average
 But our labor force participation rate is at an alltime low, even as the national rate has begun to
rebound
HOW’S VIRGINIA DOING?
Employment is expected to grow more slowly in the
next two fiscal years:
Source: Secretary Ric Brown presentation to budget committee https://finance.virginia.gov/media/6752/ric-jmc-8-26-16-final-wappendix.pdf
Months Required to Re-establish Peak
Employment Levels
Change from Pre-Recession Peak
4%
2%
0%
-2%
-4%
-6%
-8%
0
12
24
36
48
60
72
84
96
U.S. 3.10%
Virginia
1.05%
U.S. and Virginia Real GDP
Forecasts (2015 and 2016)
6.0
5.0
4.0
3.0
U.S.
2.40
2.98
2.0
1.98
1.0
0.0
-1.0
-2.0
Virginia
1.33
US Real GDP
VA Real GDP
-3.0
-4.0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Months Required to Re-establish Peak Employment
Levels: Virginia and the Major Metros
Change from Pre-Recession Peak
4%
1
13
25
37
49
61
73
85
97
RICH
2%
0%
VIRGINIA
ROAN
-2%
-4%
HROADS
-6%
LYNCH
-8%
-10%
Hampton Roads
Richmond
Lynchburg
Roanoke
VA
You Are a Virginian. Were You Born in Virginia?
1900-2012
VIRGINIA’S TALENT PIPELINE
By 2022, about
500,000
new jobs will be created in VA
will be needed
Over workers
to replace Virginia’s
930,000 retiring workforce
VIRGINIA’S MIDDLE-SKILL GAP
Jobs and Workers by Skill Level in Virginia
High-Skill Jobs
High-Skill Workers
49%
Middle-Skill Jobs
Middle-Skill Workers
Low-Skill Jobs
Low-Skill Workers
0%
10%
20%
30%
40%
Source: NSC analysis of Bureau of Labor Statistics Occupational Employment Statistics by
State, May 2012 and American Community Survey data, 2012.
50%
HOW’S VIRGINIA DOING?
Our Challenges
• Competition
• Federal Budget Cuts
• Health Care Reform
• Traditional Industries in Southside &
Southwest Virginia have disappeared
• Workforce Shortage & Skills Gap
Five keys to economic success for your
region:
• Connected to the outside world
• Competent workforce
• Intellectual Capacity
• Investment in Infrastructure
• Pro Business Environment/
Entrepreneurship
2016 GENERAL ASSEMBLY UPDATE
EDUCATION REFORM
Early Childhood Education:
HB 46 - Establishes School Readiness Committee and names Virginia
Chamber as a member
• Will provide a business community voice on credentialing and
improving early childhood resources
K-12:
HB 895/SB 336 - Aligns high school graduation requirements with
college and career readiness needs
Higher Education:
HB 66/SB 576 - Establishes the New Economy Workforce Credential
Grant Program
• Creates a demand-driven credentialing program for high-demand jobs
• Reimbursements up to $3,000 per student.
Virginia International Trade Corporation
• Idea came from Chamber Foundation
study
• Fulfills Blueprint goal of strengthening
international trade promotion
• NEXT: Legislation gives the
administration until December to
establish
GO VIRGINIA Update
• Bipartisan support in the House &
Senate
• Fulfills Blueprint goal of regional
leadership for private sector
development
• NEXT: Regional councils to identify
and advance projects
BLUEPRINT VIRGINIA
BLUEPRINT VIRGINIA: By the Numbers
REGIONAL BRIEFINGS
HOSTED IN MORE THAN
SIGNED UP AS
STAKEHOLDERS
BLUEPRINT VIRGINIA ENGAGED MORE THAN
WHERE DO WE WANT TO BE IN 8 YEARS?
DEVELOPING THE
TRANSPORTATION
INFRASTRUCTURE
FOR A COMPETITVE
ECONOMY
IMPROVING
EDUCATIONAL
ACHIEVEMENT AND
WORKFORCE
READINESS
BUSINESS
STRENGTHENING
CLIMATE
&
VIRGINIA’S BUSINESS
CLIMATE
ECONOMIC
DEVELOPMENT
DELIVERING QUALITY,
COST-EFFECTIVE
HEALTHCARE
FOSTERING
INCREASING
MANUFACTURING
JOBS WITH PROBUSINESS POLICIES
PRESERVING OUR
PROTECT, CONSERVE
MILITARY ASSETS
AND DEVELOP OUR
AND SUPPORTING
NATURAL RESOURCES
OUR VETERANS
ENSURING OUR
INNOVATION AND
ENERGY SECURITY
ENTREPRENEURSHIP AND SUSTAINABILITY
BLUEPRINT VIRGINIA IMPLEMENTATION
2013 Virginia Economic Summit
November 29th, 2013
WHY THE BLUEPRINT?
 UNIFIED VOICE
 LONGTERM ECONOMIC
DEVELOPMENT PLAN
 NONPARTISAN
NOTE: 2017 UPDATE PLANNED
• Build on one of state government’s core assets—the
Virginia Community College System—as a critical gateway
to both postsecondary education and the workforce for
high school graduates and mid-career adults.
• Support the Virginia Business Higher Education Council’s
Grow By Degrees coalition’s objectives, including its
“College, Knowledge and Jobs” policy agenda and
sustained implementation of the “Top Jobs” Act of 2011.
• Prioritize the “Top Jobs” components with the most
business salience — increased STEM-H education and
career readiness, including industry certification and
licensure for high-demand, high-skilled jobs.
December 2nd, 2016 – Kickoff
Presentation to the State Council of Higher Education
Barry DuVal, President & CEO