Continuing the conversation about why economic development matters to a community and the individuals that reside in our community we discuss Job Creation.
Economic developers provide critical assistance and information to companies that create jobs in our community. This assistance allows companies to sustainably grow while offering good-paying jobs that are good today, tomorrow, and in the future.
Our region is known for its manufacturing industries and skilled workforce. These types of jobs have a large multiplication factor when it comes to jobs that are created around these positions. The total indirect jobs generated by both durable and non-durable manufacturing breaks down the following ways.
Employment multipliers per 100 direct jobs, by major private-sector industry group*
|Major Industry Group||Direct Jobs||Supplier Jobs||Induced Jobs||Total Indirect Jobs|
The connection between supplier jobs and induced jobs contributes to the economic success of our community creating opportunities for employment of a larger portion of the population. Which in turn contributes to the circulation of money within the community and an influx of money through supply chains and companies.
A community that has stable good-paying job opportunities attracts new residents and encourages the return of people who have moved away allowing the municipality to flourish which encourages the attraction and expansion of businesses.
Information and support are just a part of the resources brought to the table by economic development organizations to sustainably grow in a region.
* Economic Policy Institute, epi.org