Eureka Times-Standard
We won't see our future in
the rear-view mirror
Sunday, April
17, 2005 -
Every now and
again, you hear or read something that makes a light bulb go off, that cuts
through all the clutter and gives you some basic facts that help clarify your
thinking or approach to an issue.
This happened to
me last month at a presentation by Rebecca Ryan of Next Generation Consulting (
www.nextgenerationconsulting.com
In her presentation, Ryan talked about the economic implications of the
generational shift from the baby boomers (1946-1960) to Generation X
(1961-1981).
According to Ryan, communities are facing
four new realities.
The first
reality is that the "innovation economy" made up of knowledge-based
industries, like financial services, professional services, innovative
technology, and travel and entertainment, is expanding. The second reality is that this new economy
primarily rests with the Gen X'ers. Fifty-six percent of computer programmers
are Gen X'ers. Women, minorities and Gen-X'ers start four out of five new
businesses. The third reality is that
this next generation places as much emphasis on where they live as where they
work. Communities that balance quality of life and economic incentives will
attract these workers. Fourth, there is and will continue to be a smaller pool
of young professionals for communities to attract and retain. The U.S. Bureau
of Labor Statistics projects that by 2006, two workers will leave the workforce
for every one entering. They estimate that by 2008, there will be a nationwide
shortage of 10 million workers across all employment categories and that demand
for skilled talent will grow each year from now to 2020.
So who cares?
Isn't Humboldt County, comfortably tucked behind our redwood curtain, immune
from these broader national trends? Not likely. Communities across the nation,
both large and small, are already responding to the new realities. They are
actively taking steps to recruit and retain the most talented of the next
generation. Like it or not, we are now part of that competition and these
communities are targeting the most talented of our children.
The June 2004
issue of "American Demographics" addresses this war for talent and
succinctly divides communities and regions into those that have "brain
drain" or "brain gain." We, like all communities, need to decide
whether or not we are going to take the steps necessary to be a "brain
gain" community. The good news is that we have a great, attractive
community. As they say in real estate, our house has "great bones."
We have unparalleled natural beauty, a great educational system, arts and culture,
and safe communities. However, we cannot just rely on these factors to enhance
our economy. We need to identify,
retain, recruit, and support the most talented entrepreneurs, particularly
those in our institutions of higher learning. We need to apply cutting edge
information technology to our government and business processes. In this new
age, information must be readily available online and processes must be fast,
accurate, and easy to understand. We need to accelerate our investment in
broadband infrastructure to connect us to the broader world. Finally, we need
to get serious about dealing with our shortage of affordable housing to make
room for budding entrepreneurs who probably have more talent than money to
spare.
To learn more
about the "war for talent," go to www.rredc.com
and click on the "Attracting Talent" link.
Finally, I'd strongly encourage everyone
to attend the Redwood Coast Broadband Forum and the Tech Expo 2005 to be held
May 5-7 at the Redwood Acres Fairgrounds. These events will provide important
information on technology and economic development for the Redwood Coast. For
more information on Tech Expo, go to www.redwoodtech.org. Information on the
Redwood Coast Broadband Forum can be also found at www.rredc.com .