Worcester Business Journal

wbjournal.com | February 3, 2020 | Worcester Business Journal 11 You've worked hard for your business. That's why at Country Bank, we work hard to help it succeed. Whatever your business banking needs, we're here for you with smart banking products, lending expertise, and personal guidance. We'd be honored to be your bank. So stop by and see us, or visit countrybank.com/business to learn more. Member DIF (800) 322-8233 | countrybank.com Member FDIC 315 M A IN S T WORCE S T ER 278 PA RK AV E WORCE S T ER OU R BU S I NESS thrive• TO HELP YOURS WE MAKE IT Apply Now for The Venture Forum's 14th Annual 5-Minute Pitch Contest! Deadline: February 28, 2020 theventureforum.org/5MP 8 Pitches 5 Minutes Join the 5-Minute Pitch April 28, 2020 Winners also get professional services from venture capitalists, local mentors and MORE!! $20,000 Cash & In-Kind Services * 2019 thru October Notes: Greater Worcester includes Worcester County and Windham County, Conn. The employment numbers are for nonfarm employment and are not seasonally adjusted. Source: Bureau of Labor Statistics Total employment in Greater Worcester Worcester when measured by economic output: manufacturing generated $6.9 billion in gross domestic product in 2017, accounting for 16% of the economy; health and education was next at $6.1 billion. Where manufacturing takes up the greatest share of jobs locally – the North County region anchored by Fitchburg and Leominster – the industry did better. e North Central Massachusetts Chamber of Commerce commissioned a study, which found a 6% increase in the manufacturing workforce in the area, which includes some communities outside Worcester County. "We make stuff here in North Central Massachusetts," said Roy Nascimento, the chamber's president and CEO. But the region is bound for a major challenge in the industry. Its average workers' age is 55, the chamber found. With the aging workforce in mind, the MassHire North Central Workforce Board began a career training program with local community colleges and adult education programs. In the first year, 162 people were trained to enter the workforce, said Beth Goguen, the director of the MassHire office in Leominster. A MassHire office in Marlborough has been working to help manufacturers find workers, too, including holding a workforce summit "Wages, however, are really good," said Greg Bunn, the executive director of the Metro South/West MassHire office., "as there has been more and more demand for computer and mathematical skills over assembly-type skills." Eds & meds surges ahead Education and health services – the so-called eds & meds public officials love to tout — grew at roughly double the rate of the workforce overall. "By focusing on areas where we are at an advantage, we can build on our strengths," said Kathy Kiel, an economics professor at the College of the Holy Cross in Worcester. "e question will be whether the demand for the products produced by those sectors will remain strong – and it seems likely that they will." Fiscal constraints have held back workforce growth at some major health employers, including UMass Memorial Health Care in Worcester, and Greater Worcester colleges are working to adapt to changing demands in higher education at a time when industry observers expect some smaller schools to close. And healthcare employment locally has essentially flattened in the past two years — growing less than 1%. Statewide, it's almost 3%. Still, healthcare jobs could continue to grow rapidly in the region, especially with an aging population. e Bureau of Labor Statistics has projected a 14% growth in healthcare jobs from 2018 to 2028. Roy Nascimento, CEO, North Central Massachusetts chamber 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019* 250 260 270 280 290 300 TOTAL EMPLOYMENT (In Thousands) 288.9 255.4 W

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