As published in Toledo Business Journal - April 1, 2011
Dr. Michael Carroll delivers an address to attendees at the State of the Region conference
Changes needed to advance development
State of the Region examines job creation
For the ninth consecutive year, a conference has been held that focused on the State of the Region with an emphasis on the economy. This event took place in mid-March and was hosted by the Center for Regional Development (CRD) at Bowling Green State University (BGSU). It included an economic outlook presented by Dr. Michael Carroll, director, BGSU Center for Regional Development and a panel discussion on leadership conducted by Dr. Rodney Rogers, dean, BGSU College of Business Administration.
Dr. Carol Cartwright, president of BGSU, welcomed an audience of close to 350. She explained that the University will play an important role in the recovery and growth of the regional economy and that economic development is a key part of BGSU’s strategic plan. Cartwright explained that one of the seven strategic priorities for the institution is economic development involvement and advancement and curriculum engagement opportunities.
In the summer of 2010, BGSU positioned Dr. Michael Ogawa along with Tim Smith to lead the areas of economic development and research. “An important mission is to strengthen the link between the University and area businesses. We will be an active partner in the region’s future success,” concluded Cartwright.
Dr. Michael Carroll addressed the audience on a national and regional economic outlook. “We are coming out of the recession nationally, but not locally,” he stated.
Analysis shared with attendees examined the number of jobs lost in the region during the recession. In the Toledo metropolitan statistical area (MSA) – Lucas, Wood, Fulton, and Ottawa Counties – there are close to 37,000 unemployed. He explained that over 16,000 new jobs would need to be created just in the Toledo MSA in order to reduce the unemployment level to 5%.
Carroll also provided a series of analyses that assessed the economy and examined critical underlying issues. He then shared his insight into the direction and strategies needed to solve the economic difficulties facing the region.
Carroll discussed recommendations for changes to policy directions in the region. “We will not recover if we continue to focus on specific industries. The focus must be on the business development process.” At the conference last year, Carroll raised the same issue. Following the conference, he discussed it in detail with Toledo Business Journal.
“Our region cannot simply target industry manufacturers. There is a belief by many in our area that if we focus on manufacturing photovoltaic panels and wind turbines, we will change our economic situation. This will not work. The number of jobs that will be created is much too small,” explained Carroll at the time.
“Our economic development policy must be more multifaceted,” Carroll added. He explained that it is necessary to look at both the supply chain and the customer base around the region to address this.
It will be necessary to recruit networks of suppliers and customers in key industries as well as targeted industry manufacturers. One important approach, involving increased efforts aimed at cluster groups, will be critical, according to Carroll.
Recovery will require a much higher level of new job creation than is currently taking place, Carroll stated.