There is growing consensus that increasing educational attainment increases economic prosperity, and many states and regions are considering making needed investments in talent development in line with economic development priorities. But in what ways can educational attainment drive economic growth? And what does that mean for talent and economic development strategies at a state, regional and community level?
In partnership with Michigan State University Center for Regional Economic Innovation (REI), CSW authored Educational Attainment as an Economic Driver for States, Regions and Communities as part of a series of co-Learning projects in Michigan. This paper examines those questions, building on national educational attainment and economic growth research and offers an analysis of Michigan efforts to promote investments in education and training that leads to sub-baccalaureate credentials tied to business and industry needs. It includes strategies for increasing alignment among economic diversification and growth, educational investments, and outcomes. And it offers some examples of promising partnerships, programs, and practices from Michigan and around the country that most effectively support meeting both short- and longer-term economic and workforce demands.
We hope this paper is a valuable resource for communities and regions interested in linking talent development more closely to current and future economic opportunities. We also hope that the examples we offer provide concrete ideas for moving the needle on degree attainment in the context of economic development. Ideally, this provides the basis for both discussion and action that leads to Michigan becoming a high skill, high wage state.
Listen to Larry Good and Jeannine LaPrad discuss this topic in this recent webinar, and download the paper.
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