STEMing tide of poor performance

STEMing tide of poor performance
By Brian Miller and Karl Dumas | | April 17, 2009

Solano Economic Development Corporation is a unique public-private partnership charged with supporting the prosperity and economic growth of the community.

Solano EDC has representatives from local cities, the county, real estate, professions, manufacturers, retailers and other key groups. Fairfield has always been an active participant in Solano EDC.

In 2008, Solano County contracted with Solano EDC to prepare the inaugural Solano County 2008 Index of Economic and Community Progress. It was released in fall 2008 and 'tells a story through indicators that measure the strength of our economy and the health of our community -- highlighting challenges and providing an analytical foundation for leadership and decision-making.'

To accomplish this goal, the Index focuses on several topics:

- Our changing economy: Solano County has seen substantial progress over the past decade, with rising household incomes and job growth. Seven key 'industry clusters' have provided much of this growth: advanced food and beverage manufacturing, construction, health and social services, life sciences, professional and environmental Services, specialized manufacturing, trade and logistics.

- Our changing community: The community is becoming more diverse with an aging population, slower population growth and a net out-migration of college educated persons.

Based on these trends, the Index identifies key challenges that must be addressed by the community's leadership. These include:

- The current economic slowdown.

- The need for more high-skilled jobs. College-educated residents must often commute outside the county for employment.

- A lack of educational readiness among youth (the high school dropout rate in Solano County is 31 percent) and the housing market.

- The county has been producing more housing than jobs.

How Fairfield and Solano County respond to these challenges will greatly impact our quality of life and future prosperity.

See the complete story at the Daily Republic online.