The Northern Kentucky Workforce Investment Board has an overarching goal of preparing job seekers to meet the hiring needs of local employers. Its primary objective is to fill existing jobs. When a job seeker has the required qualifications and is placed into an available job, this placement releases payroll dollars into the local economy which in turn supports increased economic activity.
To accomplish this goal, the NKWIB directs the work of the Northern Kentucky Career Center system, and manages the financial resources of approximately $4 million/year to deliver those much needed services. In their efforts to ensure the most effective and efficient use of dollars, the NKWIB wanted to know the economic impact of those job placements attained through the Career Center. To arrive at the answer, Northern Kentucky University’s Center for Economic Analysis & Development, conducted an analysis that provided the answer. The report of the 2013 Economic Impact of Kentucky Career Centers for our area was presented yesterday at the NKWIB meeting. Here are the outcomes:
• 1,900 job placements were directly staff-supported by the NKY Kentucky Career Centers.
o These placements supported an additional 1,285 indirect and induced jobs for a total of 3,185 jobs in the eight-county region.
o These jobs generated an estimated $129.4 million in labor income and $397.6 million in additional economic activity and spending in the region.
• 12,000 job placements were generated by the NKY Kentucky Career Center system. These resulted from services provided by the center including use of the area’s online job portal.
o These placements supported an additional 6,673 indirect and induced jobs for a total of 18,673 jobs in the eight-county region.
o These jobs generated an estimated $534 million in labor income and $1.4 billion in additional economic activity and spending in the region.
From NKWIB