Economic Vitality Corporation launches ‘Economic Dashboard’
Tool tracks trends in the local economy
–The Economic Vitality Corporation of San Luis Obispo County has announced the launch of its “Economic Dashboard,” a valuable, web-based tool that will help residents, business owners and government leaders better understand trends in the local economy.
The purpose of the dashboard is to provide community members with data that can help guide business and career decisions. Information is compiled from 12 reliable sources to provide statistics on 24 economic indicators including unemployment rate, private sector jobs, residential permits, taxable sales, average annual wages, and more. It also provides insight as to which of the six key industries in San Luis Obispo County are thriving, and where opportunities might be for new business growth. Best of all, dashboard users can access this wealth of information quickly and at no cost.
“It is difficult to access relevant, local economic data that is both comprehensive and easy to understand,” said Bruce Ray, chair of the Economic Vitality Corporation Board of Directors and chief financial officer of Cannon. “The economic dashboard is the only resource of its kind in our region that allows the public to easily track and understand the health of the local economy and make informed decisions about how to improve it.”
The dashboard is the result of a partnership between EVC and the California Business Roundtable, a non-partisan organization comprised of the senior executive leadership of major employers throughout the state that pioneered the first-ever statewide data portal called the California Center for Jobs and the Economy.
“It’s a well-known fact that California is the 8th largest economy in the world,” said Kirk Clark, vice president of the California Business Roundtable, the development partner on this project. “But what is often missed is the complex and diverse picture of the many regional economies throughout the state. By partnering with the EVC to develop and supply this resource, our goal is to equip local decision-makers to grow a healthy, local economy and create more head-of-household jobs.”
The tool is made possible by major sponsorships from San Luis Obispo Partnership in Education (SLOPE), a program of the San Luis Obispo County Office of Education and Dignity Health of the Central Coast. SLOPE is interested in utilizing this resource to benefit students by bringing together educators, businesses, and higher education to create career pathways from high schools into the workforce where promising career opportunities exist.
“The goal of SLOPE is to align educational opportunities with the economic opportunities of our local and global economy,” stated Michael Specchierla, director of SLOPE. “We need to prepare our local students for careers and college to ensure a pipeline of future professionals to sustain and grow our local economy. Having information about the job sectors that offer the greatest potential is central to this effort.
“As a major economic contributor to our community, Dignity Health of the Central Coast is proud to sponsor this new resource that will allow the public to track the vital signs of our local economy,” said Alan Iftiniuk, president and chief executive officer of French Hospital Medical Center.
The Economic Dashboard is an evolving resource and will be expanded and updated as new data sources become available. The data is drawn from sources such as the US Census Bureau, US Bureau of Economic Analysis, US Bureau of Labor Statistics, California Employment Development Department, and California Department of Finance.
To access the dashboard, or for more information about the EVC, please visit www.sloevc.org/economic-dashboard.
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