policy recommendations

Using data to track recent graduates in the workforce helps ensure postsecondary education institutions are preparing graduates for successful careers, according to a report recently released by the National Governors Association (NGA) – Tracking Graduates into the Workforce: Connecting Education and Labor Market Data. In this report, NGA contends that accurate, real-time information is a key element of functional labor markets. The NGA report starts with a discussion about the importance of connecting postsecondary education and training programs with labor market data to spur job creation, address the needs of industry, and stimulate economic prosperity. Through the report, NGA highlights new practices in Florida, Kentucky, and a multistate collaboration (between Hawaii, Idaho, Oregon, and Washington) that NGA authors believe are promising strategies to better connecting postsecondary and training programs with the needs of industry. In addition to the NGA report, the Rand Corporation released a report on how the state of Texas is using workforce information to make informed decisions to develop or expand postsecondary education programs.

Total venture capital investment rose 95 percent in 20 of the world’s top startup ecosystems from 2013-2014, according to The Global Startup Ecosystem Ranking 2015 – a 160-report from Compass, formerly Startup Genome. Compass researchers also found that the global startup ecosystem landscape is maturing rapidly with non-Silicon Valley ecosystems capturing 14 percent more of the exit value pie in three years (2012-2014). In 2014, non-Silicon Valley startup ecosystems captured 59 percent of the value of all startup exits, up from approximately 45 percent in 2012. The report includes several recommendations for policymakers and investors to support or grow their region’s startup ecosystem including:

Women as business owners may be an underutilized resource for economic development and growth in the state of Wisconsin, according to a recent study from researchers at the University of Wisconsin-Madison (UW-Madison) – Women Business Leaders Across Wisconsin, 1990-2011. The researchers found that women-owned or managed more than 80,000 Wisconsin-based businesses (nearly 19 percent of all businesses) in 2011. Those businesses employed over 550,000 workers and earned $45 billion in sales. The authors found that the number of women-owned or managed businesses more than tripled between 1990 and 2011, growing significantly during the 1990s and then stabilizing between 2000 and 2011.The study also cites research that women-led businesses are more effectively led, financially honest, have more customers, increased sales and greater profits.

In 2010, 16.5 million individuals indicated that their job required at least a bachelor's degree level in a STEM field, according to a new report by the National Science Board (NSB) – Revisiting the STEM Workforce.  These positions included many positions that are not traditional thought of as STEM jobs such as sales, marketing, and management. Drawing on its biennial Science and Engineering Indicators report, the NSB's latest report uses data to highlight the growing need for STEM knowledge and skills in the U.S. economy and the importance of developing consensus definition for STEM positions that includes employees across a wide swath of disciplines and job arenas, possessing everything from non-degree certifications to Ph.D.s in STEM fields. The report also includes recommendations to strengthen the U.S. stem workforce via inclusion, workforce and education initiatives that bring together leaders from government, education and business. The NSB is the policymaking body for the National Science Foundation. Read the report…

In order to build a prosperous, globally competitive economy in Louisiana, state universities must take on a greater role as hubs of regional innovation, according to a report from the Public Affairs Research (PAR) Council of Louisiana. The report includes 46 recommendations to transform the state's economy by revamping existing innovation programs, and boosting university research. PAR's strategic plan is based on a review of innovation policies in other states, particularly Georgia and the work of the Georgia Research Alliance.

Pennsylvania’s economic development strategy should focus on building businesses rather than poaching, according to a new report from the Keystone Research Center (KRC) – All Pennsylvanians Prospering Together (APP): A Pennsylvania Economic Development Strategy for the Long Term. KRC’s Executive Director Stephen Herzenberg contends, “Pennsylvania needs to renew its historic bipartisan commitment to economic development,” and “create a national model of an economic development strategy in which all the people contribute to a joint effort to expand the economic pie and benefit from the growth of that pie.” In the report, KRC identifies four core principles to guide the state’s efforts:

There are 11 primary barriers to the adoption of additive manufacturing by tech entrepreneurs and small high-growth firms, according to a new report from the Small Business Administration’s (SBA) Office of Advocacy. These 11 barriers were identified via surveys and interviews with entrepreneurs, private industry and other participants. In addition to identifying the 11 barriers, respondents also provide best practices or recent activities around each of the identified barriers. The report also includes big ideas and recommendations for programs and policies that the federal government should consider adopting to overcome these barriers. In addition, the general recommendations include federal agency-funded, additive manufacturing pilot programs and better coordination of federal innovation initiatives. Read the report…

There are 50 areas of need for paradigm-shaping breakthrough technologies that would help stimulate sustainable global development, according to a new report from the Institute for Globally Transformative Technologies at the Lawrence Berkeley National Lab – The 50 Breakthroughs Study. The authors contend that decisionmakers, funding organizations, impact investors, and inventors should focus on developing transformative, breakthrough technologies in these areas instead of supporting incremental technologies. The authors argue that incremental changes while having compelling narratives, significant funding, and considerable media hype fail to reach any reasonable scale or impact. In comparison, they highlight several gamechanging technologies that have significantly impacted both the developed and developing world.

Advanced industries employ just 9 percent of the U.S. workforce, yet produce about 17 percent of all U.S. gross domestic product, 60 percent of exports, 85 percent of patents, and 90 percent of private-sector R&D expenditures, according to a new report by The Brookings Institution.  Using data from the Organization for Economic Co-operation and Development (OECD) and Moody’s Analytics, the report defines advanced industries as those where industry R&D spending exceeds $450 per worker and where at least 21 percent of workers have STEM-knowledge intensive occupations (the average across industries is 20 percent). The advanced industry sector is comprised of 50 industries, as defined by four-digit NAICS codes, with 35 manufacturing sectors, 12 service sectors, and three energy sectors. Advanced industries provide a significant wage premium at every level of education, and since 1975, average earnings in advanced industries have increased at a rate nearly five times faster than the economy as a whole.

New York Gov. Cuomo unveiled a $1 billion public-private broadband program to ensure every New Yorker has access to high-speed Internet by 2019. Utilizing capital funds from bank settlements, the state will commit $500 million to the New NY Broadband Program with the intent of incentivizing the private sector to invest the additional $500 million to expand high-speed broadband access in underserved and unserved areas. To receive funding, the proposed plan must meet three qualifications: