Education key to economy, Chamber says

U.S. Chamber of Commerce President Thomas Donohue illustrated five key points which he said would help create 20 million jobs over the next 10 years in his annual State of American Business address on Jan. 12.

Donohue encouraged state leaders to work on increasing U.S. exports, rebuilding American infrastructures, creating green jobs, expanding credit and decreasing economic uncertainties in areas such as taxes, health care, fiscal policy and education.

Blair West, director of media relations with the Indiana Economic Development Corporation, said keeping taxes low, having a trained workforce and keeping infrastructures competitive with other states are some of the ways Indiana is protecting its business sector.

“Indiana is very cognizant of the need to create jobs in the defense, clean energy and biotechnology sectors,” she said.

Business economics professor Bruce Jaffee said the state’s move into new job fields has helped it weather the recession.

“Indiana has been able to sustain some of the economic downfall, because we have made transitions to the health and life sciences sectors,” Jaffee said. “Areas where we can create and expect to see big growth would be export-oriented businesses, high technology, research and development, health care and the automotive industry.”

These developments will sustain our local and global economy, he added.

Donohue mentioned education as a factor in sustaining the economy, noting the 30-percent dropout rate.

“To improve education in Indiana, close attention is being paid to teacher preparation and training, particularly in the areas of math and science,” said Gerardo Gonzalez, dean of the School of Education. “Preparation in math and science allows students to prepare and succeed in college and prepares them for the workplace of the 21st century.”

Gonzalez said Indiana has the lowest percentage of students who attend college.
To remedy the problem, Gonzalez said expectations to attend college need to be higher and states need to secure access to financial aid.

“At a time when our country is in a financial crisis,” Gonzalez said, “it is important more attention is paid to investment in education.”