Cape Cod 5 2019 Quarter 2 Regional Meeting

Cape Cod 5 Quarter 2 Regional Meetings May 21, 2019 – Lower Cape May 30, 2019 – Upper Cape June 5, 2019 – Mid-Cape June 6, 2019 – Nantucket June 12, 2019 – Martha’s Vineyard June 13, 2019 – Southeastern Massachusetts

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development

Cape Cod 5’s Impact

We want to hear from you!

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development

Cape Cod 5’s Impact

We want to hear from you!

Cape Cod 5’s Evolving Community Engagement ENRICHING LIVES Tools, resources, information, advice products and services for each step in the life journeys of our customers, employees and community members.

Four Strategic Goals Financial Strength

Community

Trusted Financial Advisor

Employees

Five Ways of Engagement Responsible Business Practices

Community Banking

Advancement of Financial Know-How

Corporate Leadership and Volunteerism

Philanthropy

Community Engagement: Five Areas of Focus Five Ways of Engagement Responsible Business Practices

Community Banking

Advancement of Financial Know-How

Corporate Leadership and Volunteerism

Philanthropy

Goal: Community

Five Areas of Focus

Accessible Housing

Economic Sustainability

Education & Enrichment

Environmental Stewardship

Community Health, Human Need & Active Service Members’ / Veterans’ Needs

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development National Trends | In Our State | Cape, Islands & SE Mass

Cape Cod 5’s Impact

We want to hear from you!

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development National Trends | In Our State | Cape, Islands & SE Mass

Cape Cod 5’s Impact

We want to hear from you!

National Trends National Employment Rate – As of April 2019

8

National Trends National Employment Rate – As of May 2019

9

National Trends National Unemployment Rate – As of April 2019

3.6%

Seasonally Adjusted Source: Bureau of Of Labor Statistics

10

National Trends National Unemployment Rate – As of May 2019

3.6%

Seasonally Adjusted Source: Bureau of Of Labor Statistics

11

National Trends Level of U.S. Unemployment and Job Openings

Note: Seasonally Adjusted Source: Labor Department

National Trends “Official Unemployment Rate” vs. U-6 = 7.3% in April 2019

National Trends “Official Unemployment Rate” vs. U-6 = 7.1% in May 2019

National Trends Labor Shortage Causes

Job Growth Changes to Immigration

Decrease in Labor Participation Rate

Labor Shortage

National Trends Labor Shortage Causes

Job Growth Changes to Immigration

Decrease in Labor Force Participation Rate

• Strong economy • 263,000 jobs were added in April of 2019 • 75,000 jobs were added in May of 2019 • Professional and business services had the largest new job growth • Driven by new technologies • Critical thinking skills

Labor Shortage Source: U.S. Federal Bureau of Labor Statistics

National Trends Labor Shortage Causes

Job Growth Changes to Immigration

Decrease in Labor Force Participation Rate

Labor Shortage

National Trends Labor Shortage Causes Labor Force Participation Rate – April 2019

National Trends Labor Shortage Causes Labor Force Participation Rate – Remained 62.8% in May 2019

National Trends Labor Shortage Causes Decrease in Labor Participation Rate

• Demographic Changes – Baby Boomers Retiring

• Lasting Impact of Recession • Lack of Skills • Adoption of Technology and AI • Use of Opioids & Meds • Sick or Disabled

National Trends Labor Shortage Causes

Job Growth

Changes to Immigration

Decrease in Labor Force Participation Rate

Labor Shortage

National Trends Labor Shortage Causes Changes to Immigration

H1B visas

H2B visas

J1 visas

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development National Trends | In Our State | Cape, Islands & SE MA

Cape Cod 5’s Impact

We want to hear from you!

In Our State Number of Employed Massachusetts Residents vs. Jobs

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development National Trends | In Our State | On Cape Cod

Cape Cod 5’s Impact

We want to hear from you!

On Cape Cod Barnstable County Unemployment Rate

On Cape Cod Barnstable County 12 Month Percent Changes in Employment

On Cape Cod Cape Cod Workforce Challenges • Seasonality • Second Homes and Tourism

• • • • •

Concentration in Service Economy Demographics Cost of Housing Transportation Childcare

On Cape Cod Seasonality Unemployment Differences Between January and July 1990-2018

On Cape Cod Concentration of Economy in Service Sector The Region’s Largest Industries

Source: The Cape & Islands Regional Workforce Blueprint, 2018

On Cape Cod Demographics

Source: U.S. Census Bureau (www.statscapecod.com) Source: Data USA (https://datausa.io/profile/geo/barnstable-county-ma)

Source: U.S. Census Bureau, Dec. 2018 (www.towncharts.com)

On Cape Cod Median Household Income

On Cape Cod Housing and Transportation

From HAC study, “Housing on Cape Cod”

On Cape Cod Resources – Foreign Workers

On Cape Cod Resources - Education

•

• • •

Cape Tech High School

New 220,000 sf building Opening in 2020 Training for technical and trade positions in the region

• • • • •

Public vocational-technical high school located in Bourne, Massachusetts Opened in 1966, it serves over 720 students in 15 vocational areas of study.

UCT recently responded to industry need with new HVAC building and program

Massachusetts Maritime Academy is a fully accredited, four year, coeducational state university offering Bachelor and Master of Science degrees that are highly regarded in the worldwide maritime industry and beyond.

1,700 undergraduate students Massachusetts Maritime Academy recently received $1M in grant funding to support development that stimulates the expansion and modernization of the maritime sector, and educational programs that increase participation in the blue economy.

On Cape Cod Resources

• • • • •

Employer Services Job Seeker Services Training Funds, Grants & Programs Youth Programs Mature Workers

• • • •

Adult Services Youth Services Business Services Dislocated Workers

On Cape Cod Resources

• A Vibrant Maritime and Technology Economy – – – –

Marine Science & Technology Renewable Energy Coastal Resiliency & Management Wastewater

• A Healthy Environment = A Healthy Economy • A Prepared and Educated Workforce

On Cape Cod Resources

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development National Trends | In Our State | On Nantucket

Cape Cod 5’s Impact

We want to hear from you!

On Nantucket Nantucket County Unemployment Rate

On Nantucket Nantucket Workforce Challenges • Seasonality • Second Homes and Tourism • Difficulties in accurate population measuring

• • • • •

Concentration in Service Economy Demographics Cost of Housing Transportation Childcare

On Nantucket The Region’s Largest Industries

On Nantucket

On Nantucket Demographics Median Age

Source: Data USA (https://datausa.io/profile/geo/barnstable-county-ma)

On Nantucket Resources – Foreign Workers

On Nantucket Resources - Education

Nantucket High School Vocational Technology Department

• New 220,000 sf building • Opening in 2020 • Training for technical and trade positions in the region

• Vocational-technical programming, including hands-on projects and differentiated instruction in: – – – – –

Culinary arts Nursing Wood technology Automotive Technology Criminal Justice

On Nantucket Resources

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development National Trends | In Our State | On Martha’s Vineyard

Cape Cod 5’s Impact

We want to hear from you!

On Martha’s Vineyard Martha’s Vineyard Unemployment Rate

On Martha’s Vineyard Martha’s Vineyard Workforce Challenges • Seasonality • Second Homes and Tourism

• • • • •

Concentration in Service Economy Demographics Cost of Housing Transportation Childcare

On Martha’s Vineyard Largest Industries on Martha’s Vineyard

On Martha’s Vineyard

On Martha’s Vineyard Demographics Median Age

Source: Data USA (https://datausa.io/profile/geo/barnstable-county-ma)

On Martha’s Vineyard Resources – Foreign Workers

On Martha’s Vineyard Resources - Education

• • •

New 220,000 sf building Opening in 2020 Training for technical and trade positions in the region

Martha’s Vineyard Regional High School Technical Program • •

• Massachusetts Maritime Academy •

• •

Fully accredited, four year, co-educational state university offering Bachelor and Master of Science degrees 1,700 undergraduate students Recently received $1M in grant funding to support – –

Expansion and modernization of the maritime sector Educational programs that increase participation in the blue economy

•

One of only 9 Comprehensive High School Programs in State Technical Education Training Program including problem solving, project-driven, competency based learning. Programs include: – Building Trades – Maritime Sciences – Culinary arts – Horticulture – Building Trades – Automotive Technology – Health Assisting MV Youth - $200,000 scholarships to students in non-traditional careers

On Martha’s Vineyard Resources

You’ve Got a Friend

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development National Trends | In Our State | In Southeastern MA

Cape Cod 5’s Impact

We want to hear from you!

In Southeastern Massachusetts Southeastern Massachusetts Unemployment Rate

In Southeastern Massachusetts Southeastern Massachusetts Workforce Challenges • Demographics • Employment High in Vulnerable Industries • Cost of Housing – Impact on talent acquisition

• Out migration of workers to metro Boston • Childcare access and affordability • Infrastructure challenges – Water – Wastewater – Intra-regional transportation • Limits industry growth

In Southeastern Massachusetts Plymouth County’s Largest Industries by Jobs

In Southeastern Massachusetts

In Southeastern Massachusetts Demographics Median Age

Source: Data USA (https://datausa.io/profile/geo/barnstable-county-ma)

Source: UMass Donohue Institute - http://pep.donahue-institute.org/UMDI_LongTermPopulationProjectionsReport_2013.11.pdf

In Southeastern Massachusetts Resources

• • • • •

Employer Services Job Seeker Services Training Funds, Grants & Programs Youth Programs Mature Workers

• • • •

Adult Services Youth Services Business Services Dislocated Workers

In Southeastern Massachusetts Resources - Education

In Southeastern Massachusetts Resources

Pinehills Affordable Housing Charitable Trust, Inc.

Friends of the Wareham Veterans Council, Inc.

Business Strategies for Adapting Upskilling Hiring for Potential Recognizing Talent as Consumers Wages, Benefits, Flexibility Importance of Technology Source: HR Dive

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development National Trends | In Our State | On Cape, Islands & in SE MA

Cape Cod 5’s Impact

We want to hear from you!

Community Engagement: Five Areas of Focus Five Ways of Engagement Responsible Business Practices

Community Banking

Advancement of Financial Know-How

Corporate Leadership and Volunteerism

Philanthropy

Goal: Community

Five Areas of Focus

Accessible Housing

Economic Sustainability

Education & Enrichment

Environmental Stewardship

Community Health, Human Need & Active Service Members’ / Veterans’ Needs

Community Banking Community Banking

Community Lending Partnerships Include:

Responsible Business Practices

Responsible Business Practices Responsible Business Practices

Tuition Reimbursement of $5,250 per employee

Responsible Business Practices Responsible Business Practices

Universal Banker

Corporate Leadership and Volunteerism

Corporate Leadership and Volunteerism (Including): Cape Cod

Nantucket Including:

Martha’s Vineyard

SE Mass

Cape Cod Young Professionals

Coastal Community Capital

Island Housing Trust

Boys & Girls Club -Plymouth

Cape Cod Community College

Egan Maritime Museum

Mass Hire Cape & Islands

Bridgewater State University

Cape & Islands Workforce Dev. Board

Fairwinds Counseling Center

MV Chamber

Canal Region Chamber

Cape Cod Blue Economy Foundation, Inc.

Habitat for Humanity Nantucket

MV Housing Development Corp.

Gleason Family YMCA

Cape Cod Economic Development, Inc.

Harvey Foundation

You’ve Got a Friend

Habitat for Humanity Greater Plymouth

WE CAN

Kenneth Donnell Trust

Youth Task Force

Old Colony YMCA – Plymouth

EforAll

Lema Machado Scholarship Committee

Pembroke Chamber

SCORE

Nantucket Anglers’ Club

SEED

Leadership Cape Cod

Nantucket Boys & Girls Club

South Coastal Counties Legal Services

Nantucket Capital Program Committee

Wareham High School DECA Boosters

Nantucket Community Garden Nantucket Cottage Hospital Nantucket Housing Palliative & Support Care of Nantucket

Advancement of Financial Know-How Advancement of Financial Know-How

Philanthropy

Philanthropy

Enriching Lives Tools, resources, information, advice products and services for each step in the life journeys of our customers, employees and community members.

Four Strategic Goals Financial Strength

Community

Trusted Financial Advisor

Employees

Five Ways of Engagement Responsible Business Practices

Community Banking

Advancement of Financial Know-How

Corporate Leadership and Volunteerism

Philanthropy

Agenda

Introduction and Welcome

Cape Cod 5’s Evolving Community Engagement

Economic Sustainability & Workforce Development National Trends | In Our State | On Cape, Islands & SE MA

Cape Cod 5’s Impact

We want to hear from you!

We want to hear from you!

Resources • • • • • • • • • • •

Adult and Community Education Martha’s Vineyard - https://www.acemv.org/ Cape Cod Commission - http://www.capecodcommission.org/ CCYP - https://capecodyoungprofessionals.org/ Coastal Community Capital - https://www.coastalcommunitycapital.org/ Community Foundation for Nantucket - https://cfnan.org/ E for All - https://eforall.org/ma/cape-cod/ Edgartown Board of Trade - http://edgartownboardoftrade.com/ Egan Maritime Institute - https://eganmaritime.org/ Island Housing Trust – http://www.ihtmv.org/ Martha’s Vineyard Chamber of Commerce - https://www.mvy.com/ Martha’s Vineyard Community Services – https://www.mvcommunityservices.org/

Resources (cont’d.)

• • • • • • • • • •

Mass Hire Workforce Dev Board - https://masshire-capeandislandswb.com/ Mass Hire Career Opportunities - https://masshire-capeandislands.com/ Pinehills Affordable Housing Charitable Trust - https://www.pinehills.com/ Plymouth Area Chamber of Commerce - https://plymouthchamber.com/ ReMain Nantucket - https://remainnantucket.org/ SCORE Cape Cod & the Islands - https://capecod.score.org/ South Eastern Economic Development (SEED) Corporation - https://seedcorp.com/ South Shore Workforce Board - http://www.masshiresouthshorewb.com/ South Shore 2030 - https://www.southshore2030.com/ U.S. Small Business Administration- https://www.sba.gov