Economic Development

Chronic illnesses, including diabetes and high blood pressure, contribute to worker absenteeism, decreased productivity, and increased insurance costs to employers. Greater focus is being placed on preventive health care, including a closer look at children's health. Dr. Jay Berkelhamer, past president of the American Academy of Pediatrics, discusses trends in child health and their implications for workforce development.

A critical shortage in medical professionals, especially in rural and low-income areas, is a challenge facing medical colleges. Dr. Wayne J. Riley, president and CEO of Meharry Medical College, discusses the future of medical training and its implications for economic development.

Hospitals and their satellite operations are facing human capital frictions as the public demands the latest treatments in the most upgraded facilities and as they prepare to respond to new legislation. Dr. Stephen Newman, chief operating officer with Tenet Healthcare Corp., discusses these workforce challenges and opportunities.

For some low-skilled workers, self-employment appears to be the best opportunity to improve their earnings, but is it? Dr. Magnus Lofstrom, research fellow with the Public Policy Institute of California, discusses whether self-employment improves the earning power of low-skilled workers as well as economic development policies that local and state governments could consider to help this vulnerable population.

Minority-owned small businesses make significant contributions to the U.S. economy, but there are still distinct disparities in business performance between minority-owned firms and nonminority-owned firms. Dr. Robert Fairlie, professor of applied economics and finance at the University of California Santa Cruz, discusses how minority-owned small businesses have fared in difficult economic conditions and policy options to address these challenges.

Small businesses are recognized as job creation engines as well as contributors to the economic vibrancy of the neighborhoods where they are located. Dr. Lisa Servon, former dean of Milano the New School for Management and Urban Policy, discusses the effects of the economic downturn on small businesses and local communities and approaches to promoting economic development in a time of major financial constraints and challenges.

Technical and vocational schools are well positioned to provide practical training that meets the needs of local employers. James King, vice chancellor for the Tennessee Technology Centers, discusses how these schools can partner with employers and position their graduates to thrive in today's emerging job sectors.

Older cities once focused on manufacturing have faced declining fortunes for some time. Even with the economic recession adding new pressures to economic development strategies, some of these cities have managed to reinvent themselves into vibrant job centers. Dr. Yolanda Kodrzycki of the New England Policy Center at the Federal Reserve Bank of Boston discusses the lessons these resurgent cities have for other communities.

Current economic conditions have inspired practitioners and policymakers to think more deliberately about the overlap between economic and community development. The combination of fewer local businesses, fewer jobs for residents, and increased foreclosure rates has hastened holistic, neighborhood-based approaches. Tony Cipollone, vice president for the Civic Sites and Initiatives of the Annie E. Casey Foundation, discusses how neighborhood-based economic and community development projects are working to create more vital and vibrant neighborhoods.

Community, technical, and vocational colleges play an important role in preparing the workforce for the immediate labor demands of local employers and promoting full employment in their service regions. However, current economic conditions have challenged traditional models, prompting revised and sometimes new approaches. Dr. Rolando Montoya, provost at Miami Dade College, the nation's largest nonprofit institution of higher learning, discusses how a community college can nimbly adjust its curriculum to respond to the fast-changing workforce needs of local businesses and strengthen local economic development.