Greater Cheyenne Chamber of Commerce Business Journal Q3 2014

Jim Hearne, The Greater Cheyenne Chamber of Commerce Board of Directors Chairman Why Should Your Chamber and Your Business Support Education? The newest committee of your Chamber of Commerce is the Education Committee. The members of the committee have been charged with exploring ways that business could support education. You might be thinking and asking, “Why should business support education?” Numerous studies have indicated the youth of our Nation lack many of the necessary skills to enter the workforce. Some recent studies highlight the skills gap among students. There is not a single state where 50% or more of the children are proficient in reading or math. Seventy percent of U.S. eighth graders read below a proficient level. Only 70% of ninth graders actually graduate from high school within the four years. Out of 30 industrialized nations, our U.S. 15year olds rank 25th in math and 21st in science. Twenty percent of U.S. workers are functionally illiterate and innumerate. Ninety percent of the fastest-growing jobs in America require some post secondary education. Many future jobs will be in the fields of science, technology, engineering and mathematics. These jobs will require workers to have bachelor’s degrees or higher. Our education system is not adequately preparing students for careers or post secondary education. Worker training programs are not, in many cases, teaching the skills demanded in the market place. This widening skills gap slows economic growth and hinders business productivity. This skills gap must be filled for businesses to succeed. We need a workforce that possesses better skills or businesses will be forced to do extensive retraining. The critical role education plays in our economic success has become more and more apparent. Few factors matter more than human capital in inﬂuencing the success of business and the strength of our overall economy. The development of a workforce with the skills and knowledge required to compete in the global economy is very important to our economic future. Economic development is much easier in an area with a growing population, skilled and educated workers and good schools. Businesses tend to locate and expand where there is a strong education system that produces a well-educated and trained workforce. Good schools and well-educated people cause our community to become more vibrant and our citizens to become more active. A good education foundation, good training and continuous learning will ultimately increase wages and personal income and cause our economy to grow. Business and education are inter-connected. If we want longterm economic growth, we must all work together to produce the best educated citizens. Educators must play a key role and parents and children must also fulfill their responsibilities. Business must also do its’ part by actively engaging in education reform, letting schools know what skills and capabilities students need to become successful employees, lending their employees to help schools and helping with financial resources and in-kind contributions. The Greater Cheyenne Chamber of Commerce and your business engaged in supporting education is not only a smart investment with positive returns, it is the right thing to do to ensure that future generations have the knowledge and skills to succeed in business, but more importantly in life! Q3 2014 BUSINESS JOURNAL l PG 7

Greater Cheyenne Chamber of Commerce Business Journal Q3 2014 | Page 7