E.M. Pemrick and Company has extensive experience in economic, demographic, and labor force analysis. While this type of analysis is often conducted in the context of economic development strategic plans and market studies, we have also prepared assessments as stand-alone products or as part of other deliverables, such as comprehensive plans. Two examples are provided below.
Featured Projects
BROOME COUNTY, NEW YORK
Economic and Workforce Analysis
The Broome County Department of Planning & Economic Development contracted with E.M. Pemrick and Company to prepare the Economic Analysis Component of the County’s Comprehensive Plan. The analysis was intended to update portions of a countywide economic development strategy adopted in 2002. Elements of the scope of work included:
- an economic profile that analyzed Broome County’s economic base and its context within the larger region;
- a workforce profile focused on the existing and potential workforce, commutation patterns, employment dynamics, and education and training resources;
- an evaluation of sites and buildings currently available for development or redevelopment, prepared in conjunction with site selection consultant Moran, Stahl, & Boyer;
- a target industry analysis identifying opportunities for business recruitment and expansion and the resources required by specific industries; and
- an evaluation of the local, regional, and state incentives currently available to promote local economic growth.
The project team identified five critical issues that should be addressed in Broome County, and provided recommendations designed to help the County capitalize on its strengths and offset its challenges. Presented to County leaders and other stakeholders, these recommendations were incorporated into an action plan. The Broome County Comprehensive Plan was adopted by the County Legislature.
WALL STREET WEST, NORTHEASTERN PENNSYLVANIA
Workforce and Workforce Development System Gap Analysis
Wall Street West was a not-for-profit partnership of economic development agencies, technology investment groups, workforce development organizations, and educational and research institutions in northeastern Pennsylvania. In 2006, the group secured a $15 million Workforce Innovation in Regional Economic Development (WIRED) grant from the U.S. Department of Labor to expand and strengthen the financial services sector in a nine-county area by preparing the workforce to meet the emerging needs of the industry.
The Wall Street West partnership contracted with E.M. Pemrick and Company and Moran, Stahl & Boyer to prepare a Workforce and Workforce Development System Gap Analysis. The project team used a combination of original research, interviews, and review of quantitative data to:
- understand current and projected employment needs;
- analyze characteristics of the existing labor force and potential implications for the future;
- assess the region’s education and workforce development systems as they relate to the skills needed by the banking, insurance, and securities industries;
- identify “best practices” for career awareness and the acquisition of critical skills; and
- develop a gap analysis incorporating the financial services industry and workforce development perspectives.
The final report offered a series of recommendations designed to address identified gaps and ensure that a qualified workforce is in place to attract and support the financial services sector in northeastern Pennsylvania. Subsequent to the report’s completion, Wall Street West distributed more than $5 million in WIRED funds to create programs preparing Pennsylvania workers and students for employment opportunities in financial services and information technology.