thursday, october 30, 2008 presentation detroit orientation institute (doi)
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Thursday, October 30, 2008Presentation
Detroit Orientation Institute (DOI)
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Michigan’s transition to a knowledge-based economy
First Annual Progress report
By Michigan Future, Inc.
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Most prosperous states
• Connecticut• New Jersey• Massachusetts• New York• Maryland
• Wyoming• New Hampshire• Colorado• Virginia• California
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Traits of prosperous states
• High proportion of wages from knowledge industries
• High proportion of college grads
• Big metro with higher per cap income than state
• Largest city in that metro has high proportion of college grads
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Michigan’s income rank aligning with our college attainment rank
16
26
34 34
10
15
20
25
30
35Per Cap Income % 4 year degree
2000
2006
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Most prosperous regions
• San Jose/San Fran.• Washington/Baltimore• NY/Newark• Boston/Worchester/
Manchester (NH)• Hartford
• Denver/Boulder• Minneapolis/St. Paul• San Diego• Seattle• Philadelphia
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Major metros win! Smarter…
21.2
26.6
28.1
32.2
15
17
19
21
23
25
27
29
31
33
% with 4-year degree
Under 1 m
1-1.6 m
1.6-3.5 m
3.5 m up
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Major metros win! Richer
Per cap income
$28,583
$33,140
$34,853
$39,601
$25,000
$27,000
$29,000
$31,000
$33,000
$35,000
$37,000
$39,000
$41,000 Under 1.0 m
1.0-1.6 m
1.6-3.5 m
3.5 m or more
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Our big metros lagging
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Job growth, U.S.
0
0.5
1
1.5
2
2.5
3
All industry
Low education
High education
Per
cent
cha
nge
2001
-05
$40,677
$31,995
$52,980
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Job growth, Michigan
-7
-6
-5
-4
-3
-2
-1
0
1
All industry
Low education
High education
% c
han
ge
2001
-05 $41,214
$35,725
$49,629
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Our conclusion:
The places with the greatest concentration of talent win!
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Younger college grads
Blue = With children
Red = Without children
Young talent is aggregating in urban regions
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Bottom line
We must get younger
and better educated
or
we will get poorer