Higher Education

Quality education for all residents is essential in sustaining the Puget Sound region’s prosperity. With a well-educated populace, companies are able to find qualified employees locally and residents are prepared to compete for good jobs. The region needs well-educated workers to replace retiring baby boomers and to meet the demands of the new economy.

Knowledge of science and technology, ability to think critically and to adapt as the marketplace changes, and familiarity with different cultures and languages will be increasingly important. It is vital not only for established industries such as IT or aerospace, it is also important to make this region competitive in industries currently in their infancy, such as clean technology and bioinformatics. That is why we must take action to ensure a vibrant, well-educated and adaptable workforce with an entrepreneurial spirit.

What Is the Challenge?

According to the National Science Foundation and the US Department of Commerce, Washington ranks 36th out of the 50 states in per capita production of bachelor’s degrees.

However, Washington ranks among the top ten states in scientists and computer specialists employed per capita and leads the nation in engineers employed per capita.

Because of this, we must import people with bachelor’s degrees to fill the jobs created by our growing economy. This leaves our economic future partly in the hands of decision makers in other states and regions across the country and around the world. Importing workers also means that Washington students are not being prepared to seize the opportunities our economy is creating.

According to Washington’s Employment Security Department, beginning in 2007, for job openings that require a bachelor’s degree, 47% are in the fields Prosperity Partnership has identified as high demand and high impact.

However, only 14% of the students receiving a bachelor’s degree in Washington each year get their degree in one of these fields.

Accomplishments to Date

In the 2007 legislative session, the Prosperity Partnership successfully pursued the investment of approximately $90 million in the biennial budget to fill existing capacity in high demand degrees at our state’s higher education institutions, and supported the passage of Senate Bill 5731, sponsored by Senator Paull Shin, which codifies the our goal of 10,000 new degrees per year by 2020 as state policy.

What's Next

Staff is continuing to work with the legislature to follow up on our success. We believe that it is vital for the legislature to continue to invest in high demand degrees at our state’s higher education institutions.

Our Proposal

1.	Fund current capacity in high demand, high impact bachelor’s and associate’s fields in 2007 — approximately $90 million biennially.
2.	Study capital needs beyond current capacity, for reporting to Legislature in 2008 session and action in supplemental budget (included in $90 million figure).
3.	Develop and implement a marketing pilot project to inform students, parents, and educators of opportunities in high demand fields and the relevance of math and science to these fields and motivate students to take these classes (included in $90 million figure).
4.	Provide more financial aid to encourage students to pursue degrees in high demand, high impact fields (included in $90 million figure)
5.	Fund FTEs at actual cost of institutions — approximately $15,000 per year for high demand degrees (included in $90 million figure).
6.	Adopt accountability standards and outcomes-based management of higher education — i.e. pay for degrees and enter into agreements with the institutions to produce them, don’t just pay for a year of instruction.
7.	Commit to/codify sustainable level of general fund budget for higher education investment — general fund funding of higher education has slipped over time.

Contact
For more information, contact Bill McSherry, Economic Development Director, bmcsherry@psrc.org@psrc.org, 206-971-3269.