Data Driven Economic Development
Montrose Group, LLC.
We live in the age of Big Data. The access to massive amounts of data points matched with unprecedented computer power and broadband speeds are transforming the global economy. Who would have imagined that Amazon would have over 300,000 employees at the end of 2018 compared to just 100,000 at General Motors? Automation has been reducing the manufacturing workforce since the Kennedy Administration, and it hit agriculture well before that. Artificial Intelligence is invading the high-wage White Collar workforce in insurance, banking and professional services. E-Commerce is driving rapid expansion of job rich fulfillment centers but, in part, closed a record number of retail stores in 2017. Finally, Autonomous Vehicles is changing the transportation, auto industry and planning and development of cities.
Automation is the technique of making an apparatus, a process, or a system operate automatically and it takes the form of robots and machine learning through machines and computers doing human work. Automation is good for global economies as it increases productivity which has tended to produce higher wages jobs. The economic impact of automation does not provide economic benefit evenly throughout society as lower skilled, less educated and poorer workers tend to take the brunt of job losses. By 2035, 47% of U.S. jobs might be at risk due to advances in machine learning, automation, and artificial intelligence according to a recent White House report. Automation will impact substantially the operation of the insurance, banking and professional services, and retail industries. The reality is all industries will be impacted by Automation and its oldest son Big Data.
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The Ohio Economic Development Association’s annual Excellence Awards program recognizes the achievements of individuals and organizations in Ohio in the areas of economic and workforce development. Submit your nominations today and have excellence in your community recognized statewide!
A panel of judges will assess the nominations, determine finalists, and select a winner for each of the categories noted below. Award winners will be announced at a ceremony during the OEDA Annual Summit to be held October 16-18 at The Renaissance Columbus Downtown. All award finalists and winners will be notified prior to the Annual Summit so as to make appropriate arrangements.read more
Fiscal Impact Analysis can be a valuable tool to understand the costs and benefits of development. But FIA can be a complex process that is difficult for policy makers and citizens to comprehend.read more
Ninety percent of the Kenworth Class-8 global truck volume is built in Chillicothe, Ohio!
On April 24, 2019, the community celebrated the groundbreaking for a new paint facility that will improve efficiency and preserve the quality of The World’s Best Truck. The project represents $140 million in capital investment and will bring 100 new, great paying jobs to Ross County upon its completion in 2021. The Kenworth Chillicothe plant, which opened in 1974, currently employs more than 2300 people. In addition to the new paint facility, a $30 million robotic cab assembly system will be installed this summer.read more