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Workforce Credentials: A Pathway to Virginia's Middle Class

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Jeffrey Kraus

on 3 August 2015

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Transcript of Workforce Credentials: A Pathway to Virginia's Middle Class

Workforce Credentials:
A Pathway to Virginia's Middle Class

Assignment
Item 213 #1c of the 2014 – 2016 amended budget
"The Chancellor of the Virginia Community College System shall develop a specific plan to expand the number of workforce training credentials and certifications to a level needed to meet the demands of Virginia's workforce.
The plan should be outcome-based and include recommendations with regard to programs, accessibility, leveraging private investment, measuring outcomes and funding.
The plan shall be developed in consultation with businesses, trade associations, the Virginia Economic Development Partnership, the Virginia Board of Workforce Development, the Secretary of Commerce and Trade, the Secretary of Education, the State Council of Higher Education for Virginia, and other entities involved with this issue. The Chancellor shall submit the report to the Chairmen of the House Appropriations and Senate Finance Committees by September 1, 2015."
Process
22 town hall meetings across Virginia



Findings
Findings
Bolstering Virginia's Middle Class
Means Solving its 1:2:7 Challenge
1
2
7
Graduate Degree
Bachelor's Degree
Associate Degree and/or Industry-Recognized Credential
What are these "7" Jobs?
Cyber Security
Electricians
Network Support Specialists
Welders
Pharmacy Technicians
Dental Assistants
Industrial Mechanics
Solving Virginia's 1:2:7 Challenge Means Addressing Four Gaps
The Skills Gap
The Interest Gap
The Competitiveness Gap
The Affordability Gap
Businesses cannot find enough qualified candidates (the sevens) today to fill the vacancies they have in middle class careers.
The financial aid that serves Virginians pursuing traditional degrees (the ones and the twos) is insufficient to Virginians pursuing workforce training (the sevens), despite evidence that they exhibit the greatest need for such aid.
Too few people pursue these careers because of outdated stigmas, or they are unaware of them, how well they pay, the advancement opportunities they offer, or even how to secure the necessary credentials to pursue them.
Businesses need workers with skills that align with their needs to grow employment in Virginia.
Businesses can't find enough qualified candidates.

Every $1M invested creates 420 credentials.

Funding supports instructors, materials, space and equipment

$10M in year one and $15M in year two creates 10,500 credentials

Five-year General Fund ROI is $50-75M
Stigmas and Unawareness Lead too few Virginians to pursue these careers.

Consumer-directed social and mobile media marketing.

Materials created for one-on-one counseling.

Traditional newspaper and radio advertising and public service announcements.

Work in progress -- will be informed by the NGA Credentials to Compete grant.
Solving
The Affordability Gap
Those who most benefit from these credentials can least afford them.

An additional $3M in annual financial aid would support up to 4,500.

Would offset program costs per individual up to 65%.
Attract new businesses, retain existing ones through a public-private partnership.

Boosts Virginia's income tax collections.

Leverage $6M in private resources and $2M in federal resources to create new jobs or up-skill Virginia workers.
$25 Million
$6 Million
Solving
The Interest Gap
Solving
The Competitiveness Gap
$6 Million
Annual Salary
$95,492
Annual Salary
$47,103
Annual Salary
$65,358
Annual Salary
$40,186
Annual Salary
$32,302
Annual Salary
$36,233
Annual Salary
$45,978
Today, Workforce Development is Economic Development
Job market change is outpacing education models.




$3 Million
Solving
The Skills Gap
Key Features
Creates Veterans' Opportunities
Direct Business Feedback Informs the Regional Prioritization of Credentials
Performance-based Funding Buys Only Credentials, Not Attempts
Next Steps
Solution:
Confront Those Four Gaps to Create More Credentialed Workers and Boost Virginia's Middle Class
With an investment of
$40 Million
, over two years
Virginia's Community Colleges could add
10,500 high-demand and in-demand credentials
Into Virginia's workforce, creating a direct
ROI of $50-70 Million
for Virginia's General Fund.

Information from those meetings, and further research, fuels the VCCS proposal.
Dozens of meetings with other state leaders and agencies and business organizations
With more than 1,500 business leaders
19 other states fund credentials training programs, including NC at $92 million+ annually.
50%-65% will require more than a high school diploma but less than a degree.
1.4 million Virginia jobs need to be filled by 2022.
Employers need specific skills that can evolve.
One-quarter of U.S. workers require a state license to do their job, a five-fold increase since the 1950s.
Full transcript