Slide 1 CEOs for Cities Inspire Connect Succeed CEOs for Cities is a national network of urban leaders dedicated to building and sustaining the next generation of great American Cities. Slide 2 Anchor institutions are essential to successful cities. Slide 3 Anchor institutions have an array of resources to put to work. * Jobs * Jobs training * Purchasing * Real estate development * Leadership Slide 4 Anchor universities have additional, critical resources. * Research * International networks * Talent development Slide 5 City Dividends Talent 1% point increase in college attainment Green 1 mile per day decrease in vehicle miles traveled Opportunity 1% point decrease in poverty Slide 6 National Gains $166 Billion Slide 7 Talent $124 Billion Slide 8 The Talent Dividend Talent 1% point increase in college attainment Sponsored by: Lumina Foundation for Education Slide 9 Anchor institutions are critical to talent. Slide 10 Talent Dividend: The Approach * Cities differ in educational attainment * Differences reveal opportunities for improvement * Improvement gains estimated from evidence * Gains represent potential payback from better policies Slide 11 {graphic only} Slide 12 Talent Dividend: The Hypothesis * Better-educated = higher incomes * Better-skilled = more innovation and productivity Slide 13 Talent Dividend: The Evidence Education Explains Most Differences in Metro Income Annual Per Capita Income, 2005 {graphic} Slide 14 Talent Dividend: Estimating the Gain * Each 1 percentage point increase associated with $763 increase in per capita income or about $1,900 to $2,290 per year for average household (2.5-3 people) * Important to note: education gains are product of shift in entire skill distribution - not just moving a certain number of people from no degree to college graduation Slide 15 Shifting the Distribution Dropouts Advanced Degrees Slide 16 Talent retention is key. Quality of place Quality of opportunity Slide 17 Talent Retention * 25-34 year olds are most mobile people in US * More educated = more mobile * 64% of college educated 25-34 year olds say they choose where to live first and then look for a job * Looking for cities that are: clean & attractive, offer the opportunity to live the life I want to live, green, safe and have the kind of housing I want that is also affordable Slide 18 Employers not just employees. Entrepreneurship peaks at age 30 Slide 19 Educational Attainment {table} Talent Measures % No. of People Educational Attainment (Population 25 and Older) Less than High School 15.3% 2,361,120 High School Only 28.9% 4,464,773 Some College/AA 21.9% 3,378,929 Four-year Degree 33.8% 5,214,660 Educational Attainment of Young Adults (25 to 34) Less than High School 11.6% 339,645 Four-year Degree 40.6% 1,188,288 Talent Dividend Goal 34.8% Additional degree holders 154,454 Source: 2007 American Community Survey Slide 20 Why Focus on Educational Attainment? Unemployment by Education Level Overall 9.8% Less than High School 15.0% High School Only 10.8% Some College/AA 8.5% Four-year Degree 4.9% Source: Bureau of Labor Statistics, September 2009 Slide 21 Three-quarters of the workers that were fired over the last year were let go on a permanent, not a temporary basis. -- David Rosenberg, July 2009 Slide 22 Albany's Talent Dividend If we increase Albany's college attainment rate from 32.0 percent to 33.0 percent (5,728 additional new grads)... The Albany Talent Dividend = $615 million annually Slide 23 Bufflo's Talent Dividend If we increase Bu!alo's college attainment rate from 27.3 percent to 28.3 percent (7,621 additional new grads)... The Buffalo Talent Dividend = $900 million annually Slide 24 New York City's Talent Dividend If we increase New York City's college attainment rate from 35.0 percent to 36.0 percent (126,474 additional new grads)... The New York City Talent Dividend = $14.3 billion annually Slide 25 New York State's Talent Dividend If we increase New York State's college attainment rate from 33.8 percent to 34.8 percent (154,454 additional new grads)... The New York State Talent Dividend = $17.5 billion annually Slide 26 Capturing the Talent Dividend Talent 1% point increase in college attainment Strategy Buckets: Re-engage adults with some college, no 4-year degree Increase transfer rate of students in 2-year institutions to 4-year institutions Retain current students for timely completion Increase college-going behavior of high school students Slide 27 But remember, talent is not the only way anchor universities can drive success of cities. Slide 28 {graphic} Slide 29 Green Dividend * Metro areas that drive less spend less on transportation * Compact urban development and diverse and functional transportation choices give people alternatives to cars. Slide 30 Capturing the Green Dividend Mixed use Density Walkable Bikeable Transit Slide 31 Syracuse's Green Dividend If we decrease Syracuse's vehicle miles traveled from 24.4 miles per day to 23.4 miles per day... The Syracuse Green Dividend = $117 million annually Slide 32 Utica's Green Dividend If we decrease Utica's vehicle miles traveled from 21.8 miles per day to 27.8 miles per day... The Utica Green Dividend = $54 million annually Slide 33 New York State's Green Dividend If we decrease vehicle miles traveled by one mile per day in New York State's seven largest metros... The New York State Green Dividend = $4.2 billion annually Slide 34 {graphic} Slide 35 Opportunity Dividend * Households living in poverty are a key driver of many public service costs * Reducing poverty can reduce public sector costs for health care, income support and social services Slide 36 Capturing the Opportunity Dividend * Economic Integration * Making Low-Wage Jobs Pay * Creative Jobs and Workers Slide 37 Binghamton's Opportunity Dividend If we decrease Binghamton's poverty rate from 11.7 percent to 10.7 percent... The Binghamton Opportunity Dividend = $20 million annually Slide 38 Rochester's Opportunity Dividend If we decrease Rochester's poverty rate from 12.6 percent to 11.6 percent... The Rochester Opportunity Dividend = $81 million annually Slide 39 New York State's Opportunity Dividend If we decrease the poverty rate in New York State's seven largest metros by one percentage point... The New York State Opportunity Dividend = $1.8 billion annually Slide 40 City Dividends $17.5 billion Talent 1% point increase in college attainment $4.2 billion Green 1 mile per day decrease in vehicle miles traveled $1.8 billion Opportunity 1% point decrease in poverty Total City Dividends for New York State... $23.5 Billion Annually Slide 41 CEOs for Cities Inspire Connect Succeed www.ceosforcities.org