Nh economic indicators where to next
This presentation is the property of its rightful owner.
Sponsored Links
1 / 27

NH Economic Indicators – Where to Next? PowerPoint PPT Presentation


  • 74 Views
  • Uploaded on
  • Presentation posted in: General

NH Economic Indicators – Where to Next?. Board of Directors William H. Dunlap, Chair David Alukonis Eric Herr Dianne Mercier James Putnam Todd I. Selig Michael Whitney Daniel Wolf Martin L. Gross, Chair Emeritus Directors Emeritus Sheila T. Francoeur Stuart V. Smith, Jr. Donna Sytek

Download Presentation

NH Economic Indicators – Where to Next?

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Nh economic indicators where to next

NH Economic Indicators –Where to Next?

Board of Directors

William H. Dunlap, Chair

David Alukonis

Eric Herr

Dianne Mercier

James Putnam

Todd I. Selig

Michael Whitney

Daniel Wolf

Martin L. Gross, Chair Emeritus

Directors Emeritus

Sheila T. Francoeur

Stuart V. Smith, Jr.

Donna Sytek

Brian F. Walsh

Kimon S. Zachos

Concord Chamber of Commerce

Concord, NH

April 17, 2014

“…to raise new ideas and improve policy debates through quality information and analysis on issues shaping New Hampshire’s future.”


Economic opportunity

Economic Opportunity


Past economic growth was driven by high rates of migration

Percent Change in NH Population

30.0%

24.8%

25.0%

21.5%

20.5%

20.0%

13.8%

15.0%

11.4%

8.5%

10.0%

6.9%

5.0%

0.0%

1950

1960

1970

1980

1990

2000

2010

Past economic growth was driven by high rates of migration

Source: New Hampshire Center for Public Policy Studies, analysis of U.S. Census data

Growth in NH’s population, capital and productive have declined, suggesting that New Hampshire’s economic experience of Tailwinds may have turned into headwinds?


The urgency

The Urgency?

  • Strong demographic tailwinds have ended.

  • NH’s economy has fundamentally changed

    • 1990: high tech (2%) and manufacturing (25%) accounted for 27% of NH’s economy

    • 2010: high tech ( 4%) and manufacturing (15%) accounted for 19% of NH’s economy

  • Zero job creation between 2000 and 2010.


In this context where should we invest

In this context, where should we invest?

  • Health Care

  • Education/Workforce

  • Natural and Cultural Resources

  • Energy

  • Fiscal

  • Infrastructure

  • Workforce Housing

  • Regulatory

  • Business Growth and Retention


Dashboard development

Dashboard Development

  • NH Business and Industry Association stakeholder groups identified goals

  • Center developed a series of indicators that track with goals.

    • Example of a goal: “All New Hampshire residents are among the healthiest in the nation and have lifelong access to a high quality, affordable integrated and preventive health and community support system.”

      • Health Care Expenditures Per Dollar of Gross State Product, 2010

      • Age Adjusted Mortality Rates, 2011

      • State-specific Standardized Infection Ratios (SIRs), 2011

      • Percent Uninsured, 2011

      • Average Family Premium per Enrolled Employee For Employer-Based Health Insurance, 2011


Health care example

Health Care (Example)


Indicators compared to neighbors and major advanced high tech manufacturing competitor states

Indicators Compared to neighbors and major advanced high tech manufacturing competitor states

With whom are we competing?


Cultural and natural resources

Cultural and Natural Resources

  • State spending on natural resources per person

  • Percent of tree cover in urban areas

  • Domestic tourism spending per capita

  • Creative Economy Jobs Concentration

  • Voter turnout rate

  • Volunteering rate


Education labor and workforce

Education, Labor and Workforce

  • Change in 35-44 population share, 2000 to 2010

  • Percent of adult population with an associate degree or higher

  • Percent of population in Science and Engineering workforce

  • High school graduation rate

  • Student debt per person

  • Rate at which high school graduates go on to post-secondary institutions

  • Percent of children aged 3 to 4 years old enrolled in preschool


Fiscal policy

Fiscal Policy

  • State Business Climate Tax Index

  • Top Marginal Corporate Tax Rate

  • Public Health, Welfare, Hospital Spending per Person in Poverty

  • State Debt per Dollar of Personal Income

  • Public Government and Administration per Dollar of Personal Income


Energy

Energy

  • Industrial Electric Prices

  • Natural Gas Prices in Dollars per Million BTUs

  • Energy Consumption

  • Expenditures Per Capita

  • Energy Efficiency Rank


How does nh rank

How Does NH Rank?


Nh excels on current climate indicators

NH excels on “current climate” indicators


But nh lags on future climate indicators

But NH lags on “future climate” indicators


State averages hide large regional variation

State averages hide large regional variation


For its size the nashua manchester corridor is in the top 10 with fastest growing companies

For its size, the Nashua-Manchester Corridor is in the top 10 with fastest growing companies

17


At the median

At the median ….

  • Merrimack Mirrors the state.

Source: Daniel Lee, Plymouth State University


Size of labor force working age population age 20 64

Size of Labor ForceWorking-Age Population (Age 20-64)

Source: Daniel Lee, Plymouth State University

Assuming no migration the working-age population in New Hampshire will decline nearly 10% in the state.

The northern rural counties will see larger declines.

Carroll County sees the biggest declines.


Skill of the workforce

Skill of the Workforce

% of persons 25 years old or over with BA or higher, 2000

Gain in % of persons 25 years old or over with BA or higher, 1990-2000

Source: Daniel Lee, Plymouth State University


Capital stock growth

Capital Stock Growth

Grafton ranked the first in the state in the growth of private business investments during 2000-2010.

Only Grafton exceeded Merrimack.

Source: Daniel Lee, Plymouth State University


Affordable housing

Affordable Housing?


Job growth driven by health care

Job Growth Driven by Health Care


Looking forward the ecology of a successful economy

Looking forward: The ecology of a successful economy

There’s this …

And then … Brad Feld

  • Human Capital

  • Financial Capital

  • Economic Creativity

  • Business Base

  • Costs of Business

  • Infrastructure

  • Quality of Life

A Strong Pool of Tech Founders

Local Capital

Killer Events

Access to Great Universities

Motivated ‘Champions’

Local Press, Organizational Tools

Alumni Outreach

Wins

Recycled Capital

Second-Time Entrepreneurs

Attractive to Engineers

Tent-pole local tech companies

24


How does this relate to existing initiatives

How does this relate to existing initiatives

  • Many initiatives designed to deal with perceived long term issues.

    • Governor Hassan: Innovate NH Jobs

    • Former Governor Lynch: The green launching pad

    • New use of unemployment funds – train individuals to build new small businesses.

    • Community College System

      • Hypertherm and Community College collaboration

      • The Advanced Manufacturing Partnership (Albany)

    • UNH Innovation

    • UNH, STEM initiatives (NHCF, Business NH coalition)

    • Granite State Futures – planning generally – housing and transportation.

    • Stay, Work, Play.

  • Question: Are they working? Is there a problem?

    • Are conditions getting better/worse?

    • What about regional approaches 


What is the goal of economic development

What is the goal of economic development?

  • Targeting Industries?

  • State efforts to amplify ‘economic ecology’ development?

  • Retention of existing businesses?

  • Targeted Industry development?

  • What/which tactics are necessary to meet strategic goals?

    • Enhance human capital? Workforce Development (make your own vs. import)

    • Workforce housing?

  • How does one align and amplify existing efforts given scarce human and financial resources?


Nh economic indicators where to next

New Hampshire Center for Public Policy Studies

Board of Directors

William H. Dunlap, Chair

David Alukonis

Eric Herr

Dianne Mercier

James Putnam

Todd I. Selig

Michael Whitney

Daniel Wolf

Martin L. Gross, Chair Emeritus

Directors Emeritus

Sheila T. Francoeur

Stuart V. Smith, Jr.

Donna Sytek

Brian F. Walsh

Kimon S. Zachos

Want to learn more?

• Online: nhpolicy.org

• Facebook: facebook.com/nhpolicy

• Twitter: @nhpublicpolicy

• Our blog: policyblognh.org

• (603) 226-2500

“…to raise new ideas and improve policy debates through quality information and analysis on issues shaping New Hampshire’s future.”


  • Login