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Dear Readers,
As Arkansas is quickly becoming a hub for innovation and energy technology and creating a robust job market with abundant opportunities, I am thrilled to share recent progress and exciting opportunities in workforce development.
Over the past year, Arkansas's advanced energy industry has grown by over 5%, significantly boosting the state's economy. This unprecedented growth reflects our collective efforts and the rising demand for clean, sustainable energy solutions.
Last week, KATV reported a 9% increase in state construction jobs, compared to a 2% growth in the rest of the state’s employment sectors. Notably, about a third of this increase comes from building equipment contractors who install and maintain mechanical components of buildings like water, heating, and air conditioning.
This is consistent with our workforce development efforts, where advanced energy jobs often overlap with construction and the skilled trades. In fact, we are collaborating with eight employers to develop apprenticeships for building and HVAC controls technicians.
Additionally, workforce studies show a 4.5% increase in clean energy jobs in 2022, with advanced energy jobs growing at twice the national average. These positions offer salaries over 30% higher than the national median, and more than half don’t require a college degree. To this end, we are developing industry entry programs accessible to all that don’t rely on the ‘train and pray’ model, and instead directly connect employers, diverse job seekers, and training institutions.
We are proud to announce that our initiatives have recently garnered substantial federal funding support, allowing us to bring our tax dollars back to Arkansans. We partnered with teams that won nearly $200MM to be applied over the next 5 years, which results in AAEF managing about $2.5MM for workforce development, and $3.5MM to manage and supply a CPACE revolving loan fund. This financial support not only bolsters our industry but also provides meaningful careers for Arkansans, fostering economic stability and growth within our communities.
Looking ahead, we see immense potential for collaboration with training organizations, industry employers, and economic, workforce, and community organizations. We envision joint training programs, shared resources, and coordinated outreach efforts that will maximize our impact and ensure a steady pipeline of qualified professionals entering the advanced energy sector.
In closing, I want to extend my heartfelt gratitude for your continued support and dedication. By working collaboratively, we can create a comprehensive, statewide workforce development pipeline that leverages our strengths and harnesses the full potential of our industry to drive lasting change. Look for some amazing programs to launch as soon as these funds are made available!
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