Targets of Opportunity and Growing Occupations College of the Redwoods August 2008 What industries should we focus on? Targets of Opportunity Five quality factors identify Targets of Opportunity CRITERIA Expanding Opportunity INTERPRETATION Job Growth Firm Growth Growing Quality Job Quality…higher and increasing wages Improving Strong and/or growing regional specialization Competitiveness Career Potential Occupational dynamics and distribution Key Linkages Important relationships and common needs Six Targets of Opportunity Diversified Health Care Building and Systems Construction and Maintenance Specialty Agriculture, Food, and Beverage Investment Support Services Management and Innovation Services Niche Manufacturing How much do the Targets matter? Criteria Job growth Firm growth Wage growth Region 4% 1.5% 6% Targets 37% 23% 10-26% Together, the Targets of Opportunity Industries contributed 39% of the jobs and 53% of the wages in the region’s private sector over the last 15 years. All 6 Targets of Opportunity demonstrate a compelling trend Targets Jobs Firms Wages Diversified Health Care 45% 34% 26% Building Systems 22% -4% 14% Specialty Food, Flowers and Beverages 33% 11% 25% Investment Support Services 14% 22% 23% Management & Innovation Services 125% 80% 10% Niche Manufacturing 33% 19% 25% A sustained, structural shift in our economy. GROWING OCCUPATIONS: New and Replacement Jobs Redwood Coast* Average Annual Job Opening Projections New Jobs and Net Replacements** Distribution by Lower, Mid, and Higher Wage Levels 2004-2014 2,000 1,800 1,600 Total Job Openings 1,831 Annual New Jobs Annual Net Replacements 417 Total Job Openings 1,249 1,400 1,200 438 1,000 800 Total Job Openings 566 1,414 600 811 400 200 238 328 Lower Wage Level ( < $25,000) Mid Wage Level ($25,000-$45,000) Higher Wage Level ( > $45,000) Source: Occupational Employment Statistics; Analysis: CEI *Includes Del Norte, Humboldt, Lake, and Mendocino Counties **Net Replacements openings are an estimate of the number of job openings expected because people have permanently left an occupation. It estimates the net movement of 1) experienced workers who leave an occupation & start working in another occupation, stop working altogether, or leave the geographic area minus 2) experienced workers who move into such an opening. It does not represent the total number of jobs to be filled due to the need to replace workers. ANNUAL JOB OPENING PROJECTIONS BY OCCUPATIONAL CATEGORIES Redwood Coast* Annual Job Opening Projections New Jobs and Net Replacements, 2004-2014 Distribution by Major Occupational Categories Sales Food Preparation & Serving Office & Administrative Support Education, Training, & Library Construction & Extraction Management Transportation & Material Moving Personal Care & Service Building, Grounds Cleaning, Maintenance Farming, Fishing, & Forestry Installation, Maintenance, & Repair Healthcare Practitioners & Technical Production Protective Service Business & Financial Operations Healthcare Support Community & Social Services Arts, Design, Entertainment, Sports, Media Life, Physical, & Social Science Architecture & Engineering Annual Net Replacements Computer & Mathematical Annual New Jobs Legal 0 Source: Occupational Employment Statistics; Analysis: CEI *Includes Del Norte, Humboldt, Lake, and Mendocino Counties 100 200 300 400 500 600 GROWING OCCUPATIONS BY TARGET AREA Redwood Coast Growing Occupations by Target Area Diversified Health Care Buildings & Systems Construction & Maintenance Top 50 Occupations with Most Job Openings 20032006 12 10 8 Top 50 Projected Occupations with the Most Job Openings (New & Replacement Jobs) (2004-2014) 14 17 12 Specialty Investment Agriculture, Food Support Services & Beverages Management & Innovation Services Niche Manufacturing 5 4 2 10 8 10 DIVERSIFIED HEALTH CARE Diversified Health Care DIVERSIFIED HEALTH CARE Required Level of Education by Wage Level LOWER WAGE LEVEL Less than a High School Diploma High School Diploma (or GED) Post-Secondary Certificate Some College Courses Associate's Degree Bachelor's Degree More than a Bachelor's Degree 19% 55% 8% 6% 7% 5% 1% MID HIGHER WAGE WAGE LEVEL LEVEL 2% 35% 21% 15% 9% 11% 7% 0% 4% 11% 3% 21% 24% 37% BUILDING SYSTEMS & CONSTRUCTION MAINTENANCE BUILDING SYSTEMS & CONSTRUCTION MAINTENANCE BUILDINGS & SYSTEMS CONSTRUCTION & MAINTENANCE Required Level of Education by Wage Level LOWER WAGE LEVEL Less than a High School Diploma High School Diploma (or GED) Post-Secondary Certificate Some College Courses Associate's Degree Bachelor's Degree More than a Bachelor's Degree 28% 54% 4% 6% 5% 2% 0% MID HIGHER WAGE WAGE LEVEL LEVEL 21% 47% 14% 8% 5% 4% 2% 7% 32% 23% 10% 9% 15% 5% SPECIALITY AGRICULTURE, FOOD & BEVERAGES SPECIALITY AGRICULTURE, FOOD & BEVERAGES SPECIALTY AGRICULTURE, FOOD, & BEVERAGES Required Level of Education by Wage Level LOWER WAGE LEVEL Less than a High School Diploma High School Diploma (or GED) Post-Secondary Certificate Some College Courses Associate's Degree Bachelor's Degree More than a Bachelor's Degree 37% 53% 3% 2% 3% 1% 2% MID HIGHER WAGE WAGE LEVEL LEVEL 18% 50% 11% 10% 5% 5% 1% 1% 22% 15% 19% 8% 21% 15% INVESTMENT SUPPORT SERVICES INVESTMENT SUPPORT SERVICES INVESTMENT SUPPORT SERVICES Required Level of Education by Wage Level LOWER WAGE LEVEL Less than a High School Diploma High School Diploma (or GED) Post-Secondary Certificate Some College Courses Associate's Degree Bachelor's Degree More than a Bachelor's Degree 11% 56% 8% 17% 6% 0% 2% MID HIGHER WAGE WAGE LEVEL LEVEL 2% 40% 13% 20% 15% 8% 2% 1% 40% 7% 18% 10% 20% 4% MANAGEMENT & INNOVATION SERVICES MANAGEMENT & INNOVATION SERVICES MANAGEMENT & INNOVATION SERVICES Required Level of Education by Wage Level LOWER WAGE LEVEL Less than a High School Diploma High School Diploma (or GED) Post-Secondary Certificate Some College Courses Associate's Degree Bachelor's Degree More than a Bachelor's Degree 8% 49% 12% 18% 11% 0% 2% MID HIGHER WAGE WAGE LEVEL LEVEL 2% 29% 13% 19% 18% 16% 2% 1% 8% 6% 7% 7% 41% 29% NICHE MANUFACTURING NICHE MANUFACTURING NICHE MANUFACTURING Required Level of Education by Wage Level LOWER WAGE LEVEL Less than a High School Diploma High School Diploma (or GED) Post-Secondary Certificate Some College Courses Associate's Degree Bachelor's Degree More than a Bachelor's Degree 15% 41% 13% 14% 18% 0% 0% MID HIGHER WAGE WAGE LEVEL LEVEL 4% 50% 9% 13% 12% 10% 0% 3% 26% 21% 17% 18% 14% 1% Summary of Findings 6 high performing industries 53% of private sector payroll and almost 40% of jobs Some familiar, some totally new industries for economic/workforce development to address Demonstrated over a 15-year period that they have staying power Sustained, structural shift in Redwood Coast economy All counties share…it’s a regional economy All industries pay above the median, and/or fast rising All with appealing, robust career spans Quality of Life key to attraction/retention All report need for more workers and talent Implications How can we form a system of education and CTE that delivers the workforce needed in the Targets of Opportunity? How can we develop an attitude of opportunity in our faculty, parents and youth? Occupations of Opportunity Search Tool Step 1: Gain an Understanding of Occupational Opportunities Based on Levels of Education Step 2: Select Occupations of Interest Step 3: Explore Profiles for Your Occupations of Interest Using O*NET Step 1: Opportunities Based on Levels of Education Occupation Educational Requirements by Targets of Opportunity Less than a High School Diploma High School Diploma (or GED) Post-Secondary Certificate Some College Courses Associate's Degree (or other 2-year degree) Bachelor's Degree More than a Bachelor's Degree Buildings & Systems Construction & Maintenance 19% 45% 14% 8% 6% 5% 2% Management & Specialty Diversified Investment Niche Innovation Agriculture, Food Health Care Support Services Manufacturing Services & Beverages 6% 30% 14% 9% 4% 45% 10% 19% 2% 22% 10% 14% 5% 46% 11% 14% 20% 46% 9% 9% 12% 14% 15% 11% 9% 3% 12% 25% 15% 14% 9% 0% 5% 6% 4% Step 3: Explore details on ONET Abilities Sample from ONET Ability Ability Level Add 2 and 7 Number Facility Balance a checkbook Compute the interest payment that should be generated from an investment Targets of Opportunity and Growing Occupations