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| 1/6/2010 3:38:00 PM | Column: Ten industries will help shape our 2010 regional economy
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by Jasen Jones
The Workforce Investment Board of Southwest Missouri uses powerful research tools for a sneak peak at the region's fastest growing industry clusters. The countdown region includes 12 counties surrounding the Joplin metro with the key Interstate 44 and U.S. Highway 71 corridors.
Opening the countdown is the advanced materials cluster. Complex refining and production industries - such as chemicals, explosives and pharmaceuticals - are projected to add 166 jobs in 2010. Other manufacturing clusters showing promise include transportation equipment, computer/electronic products and metals. Combined, these producers could net 200 additional new jobs.
In at No. 9 is education and knowledge creation, with the potential for 175 new jobs. Population growth means increased demand for public school teachers. The recession prompted many to re-train for different careers, contributing to the need for more instructors at area colleges.
Projections show 204 new jobs possible in the printing and publishing industry, making it the eighth-fastest growing cluster. Digital printing companies are expected to drive most of this growth.
As the national spotlight shines on fossil and renewable energy clusters, the region could add as many as 234 new jobs and comes in at a No. 7 ranking. Energy production often gets the glory, but keep in mind the manufacturing/distribution supply chain that supports energy production globally. The Joplin region's legacy workforce and industry base are well-aligned to prosper.
The No. 6 spot goes to information technology and telecommunications with 384 new jobs projected. Demand is on the rise for software, network and computer support jobs. More electricians are needed as well. Rural and domestic sourcing trends are important to watch as more decision-makers discover the benefits of regional economies like Joplin.
With the potential of 434 new jobs, the defense and security cluster holds strong at No. 5. Mostly in the Joplin and Bentonville, Ark., areas, these are local companies that support national defense. Big drivers for defense support include several computing jobs found in the technology sector.
No. 4 on the countdown is the cluster of arts, entertainment, recreation and visitor industries. Hospitality-support jobs and local tourist attractions remain strong as 447 new jobs are needed to keep pace with expected growth.
Biomedical and biotechnical life sciences could result in 535 new jobs this year and the third fastest-growing cluster. Job growth in healthcare support is a given. The bio supply chain also shows promise for local manufacturing and distribution with increased global demand for goods.
Transportation and logistics is the No. 2 powerhouse with 1,463 new jobs projected. Survival of the fittest may be at play with closures and downsizing among smaller trucking firms that made headlines in 2009. Compared to the national average for trucking, the region has nine times as much activity among local companies.
At the No. 1 spot with the potential for 1,580 new jobs is the business and financial services cluster. Professional and technical talent abounds to support general office functions as well as finance, insurance and real estate. Entry-level clerical and customer care opportunities are available and high demand exists for accountants, analysts and information technology professionals at the higher end as well.
No countdown would be complete without a look at "future hits." The Joplin Regional Prosperity Initiative includes several key players and trends to watch in 2010. Leaders remain focused on improving education of the workforce, retaining and growing local firms and fostering innovative business startups. Regional collaboration efforts among economic development and education that launched in 2008 and 2009 have explosive impact potential for 2010 as well.
Jasen Jones is the executive director of the Workforce Investment Board of Southwest Missouri. His e-mail address is ceo@workforcezone.net.
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