West Virginia Executive Winter 2018 | Page 42

Forecast Annual Employment Growth, 2017-2022 Hancock a full 10 percent of its adult population sitting on the sidelines compared to the nation. Thus, the right kind of investment in human capital is imperative to make our state—and our workforce—attrac- tive to potential businesses. Economic Outcomes and Opportunities Vary Dramatically Across Regions The real potential for widespread eco- question we have in our state right now regarding economic Brooke development. nomic transformation associated with the The natural gas boom has created ben- natural gas boom lies in bringing down- Ohio efits for the Mountain State in terms of stream activity into the state. This refers jobs, income and tax revenue, but thus to the numerous businesses that could Marshall Morgan Berkeley far the additional jobs are somewhat lim- locate in our state that rely on an afford- Monongalia able and reliable supply of natural ited because gas is so Wetzel capital intensive. Jefferson gas. If Preston Mineral Hampshire Marion The industry uses relatively few workers West Virginia is able to attract this activ- Tyler in relation to the size of its output, Taylor com- ity, it has the potential to create thousands Harrison Pleasants Doddridge pared to other industries. of jobs Grant in the coming one or two decades. Tucker Hardy Barbour Ritchie Wood While it is important to be aware of Forecast Annual Employment Growth, 2017-2022 Lewis statewide statistics, the fact of the matter Forecast Annual Employment Growth, Wirt Gilmer Upshur Randolph 2017-2022 is that West Virginia exhibits tremendous Calhoun Pendleton variation across its regions in terms of Jackson Braxton Roane Mason economic strengths and weaknesses. For Webster instance, it is likely that what we need in Clay Pocahontas Putnam our southwestern region is quite different Nicholas Kanawha from what we need in the Eastern Pan- Cabell handle. We must understand and embrace 2017-22 Average Annual Greenbrier Fayette these differences and tailor economic de- Wayne Lincoln Employment Growth Boone velopment strategies to each region’s op- < 0.4% portunities and challenges. Raleigh Logan Hancock Brooke Ohio Marshall Morgan Berkeley Monongalia Wetzel Marion Tyler Pleasants Preston Harrison Doddridge Hampshire Jefferson Grant Hardy Lewis Wirt Gilmer Upshur Calhoun Jackson Randolph Pendleton Braxton Roane Mason Tucker Barbour Ritchie Wood Mineral Taylor Webster Focus Must Be Put on the Manufacturing Activity Associated with the Natural Gas Boom How much manufacturing activity as- sociated with the natural gas boom comes to West Virginia? This is the single biggest 40 WEST VIRGINIA EXECUTIVE Clay Putnam Mingo Cabell Summers Wyoming Wayne Lincoln Greenbrier Fayette Boone Mingo Logan Mercer McDowell Summers Mercer Monroe 0.6% - < 0.9% 2017-22 Average Annual Employment Growth ≥ 0.9% < 0.4% Raleigh Wyoming McDowell 0.4% - < 0.6% Pocahontas Nicholas Kanawha 0.4% - < 0.6% Monroe 0.6% - < 0.9% ≥ 0.9% SOURCE: U.S. Bureau of Labor Statistics and WVU BBER County Econometric Model