by Andrew Johnson - Dec. 16, 2009 12:00 AM
The Arizona Republic
A lack of skilled labor, a meager pool of local investment capital and disjointed economic-development strategies are hindering growth in Arizona's technology sector, a study released Tuesday says.
But state leaders can build on strong resources already here, including universities, federal research funding and business startups, by fostering collaboration among stakeholders, according to the Milken Institute, a Santa Monica, Calif.-based research think tank.
Its report "Charting a Course for Arizona's Technology-Based Economic Development" compares Arizona's performance on tech indexes with peer states, including Colorado, Nevada, New Mexico, Oregon and Utah.
The housing crash and resulting economic crisis highlighted Arizona's reliance on the real-estate industry for job growth. The state has lost almost 265,000 jobs since the recession started in December 2007.
The report offers five recommendations, many of which already are being addressed:
• Developing a deeper pool of skilled, educated workers.
The state does not develop or retain enough skilled technicians, scientists and engineers to meet the demands of local employers, the report said.
It suggests matching engineering and science graduates with local employers, especially at smaller firms, so that companies can identify the workers they need within the state. More here.
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