By Dan Ash
How can a community best grow its economy? The answer is abundantly clear: focus on education. The best predictor of increases in per capita income is education attainment. For every one percent increase in the population attaining a postsecondary degree, there is a $760 increase in per capita income according to Joe Cortright, President of Impresa Inc. Such a boost in the economic health of communities was a strong motivation for CEOs for Cities, a nonprofit network of urban leaders, along with the Lumina and Kresge Foundations, to announce a competition to boost the number of residents with postsecondary degrees. A $1 million Talent Dividend prize will be awarded to the city that produces the greatest increase in postsecondary degrees over the next three years.
Kathy Zandona and I attended the Talent Dividend Network meeting on May 9 and 10 in Chicago along with representatives from 56 other cities vying for this prize to learn more about the details of the competition and share ideas on ways to encourage education attainment. We explored a variety of topics and heard from a multitude of experts concerning communication of educational issues, means of translating real world experience into college credit, how to best serve diverse college students, strategies for helping adults complete their education, and the use of talent analytics as a means of understanding the business benefits of employer support for employees’ educational pursuits. One particularly interesting idea that is catching on in several cities is the practice of “reverse articulation”. Many students who transfer from community college to a four year institution do so before they complete their associate’s degree. Several locations have now set up reverse articulation agreements which monitor these students as they pursue their four year degrees. When the student successfully completes the courses at the four year institution that, combined with previous courses, are equivalent to an associate’s degree, the community college and student are notified and the associate’s degree is then awarded. This process is especially beneficial for those students who are working as they pursue their bachelor’s degree because the associate’s degree credential is instrumental in securing a good job.
As we interacted with representatives from the “competitor” cities it became abundantly clear that Greater Louisville leaders showed prescient insight in establishing 55,000 Degrees. We are clearly at the forefront of a growing realization that leaders from all sectors must work diligently together to help our community pursue and complete postsecondary education if we are to prosper. In the coming months we will keep you updated on how Louisville and 55,000 Degrees is progressing in the pursuit of the Talent Dividend award. For more information on the award go to www.talentdividendprize.org.
