There is no doubt that the rest of the country has placed a heavy emphasis on securing a key natural resource in today's innovation-based economy: young, educated professionals. Even major metro areas such as Philadelphia and Chicago fret endlessly over their own "brain drain" and fear that losing this scarce resource will make it more difficult to thrive in the new economy.
According to the research, they (and we) should worry. But more than worry, we should act on the available insights and devise a unique strategy to secure our own future talent.
The "Young and the Restless" study is one of many places where West Virginia can learn and adapt recommendations for our own situation. Economist Joe Cortright of Impresa Consulting in Portland and Carol Coletta of Coletta & Company in Memphis have co-produced a first-of-its-kind study that identifies where talented 25 to 34 year-old workers are moving in America and why. The ability to attract and retain these "Young and Restless" Americans is a critical factor in a city’s ability to succeed in the knowledge economy.
From the report:
Statistically, 25 to 34 year-olds are the hardest-working
segment of the population. In their mid-20s, they are
also at the peak of their mobility and more likely to move
across state lines than at any time in their lives. In the
time between their 25th and 35th birthdays, these young
adults not only start careers, but find mates, start families
and put down roots. Once rooted in place, the likelihood
of their moving to another state or metropolitan area
will decline precipitously.
Groups such as Generation West Virginia are very strategic for West Virginia's future. We in the "creative communities" movement look forward to partnering with GWV in 2009 to focus on very tangible initiatives for attracting and retaining this crucial natural resource for our state.
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