Governors have updated their economic development strategies and launched new initiatives to further spur economic growth and provide high wage jobs, according to a report released today by the National Governors Association (NGA).
Top Trends in State Economic Development looks at the actions governors are taking to make their economic development systems more effective in job creation, employment and income growth.
States have emphasized the building blocks of their economies—entrepreneurs and innovation, workforce, investment climate, support for businesses in expanding their markets and a stronger connection between universities and the state’s economy. States are blending those elements to increase the economic growth rate and provide citizens with more and better paying jobs.
“Job creation remains a top priority for governors,” said NGA Executive Director Dan Crippen. “Governors are looking for ways to emphasize policies and programs that support companies and have strong industry buy-in.”
Six important trends have emerged in state economic development within the past two years. States are:
- Strengthening the relationship between the state and its regions in fostering economic development;
- Emphasizing job creation within their borders;
- Strengthening their support for advanced manufacturing;
- Creating partnerships to meet industry demands for talent;
- Raising expectations for universities to bridge the gap between research and commercialization; and
- Increasing business export initiatives.
To learn more, please visit www.nga.org/cms/center/ehsw.