STRATEGY & ACTION PLAN
GOAL & TARGETS
GOAL 1 – Support the growth of a diverse economic base that will provide employment opportunities for a broad cross section of citizens across the five-county region.
To achieve this goal, the following targets have been established for Central New York
TACTIC 1
Increase the region’s current population of 784,734 to 1 million residents by 2050.
The population of CNY has remained relatively steady over the past twenty year and currently equals approximately 785,100 residents, and a little over half of the region’s population (over 400,000) lives in the Syracuse Urbanized Area. Given the aging base of the region’s population, additional population growth is needed in Central New York to support the existing economic base and to serve as a resource to attract new employers to the five-county area. To meet this anticipated demand, it is projected that the target population for Central New York needs to increase to one million people over the next 30 years. This represents a population increase of 214,900 or 7,410 people per year, which is less than a 1% change in population each year.
TACTIC 2
Increase the regions’ current number of jobs from 391,000 to 405,000 by 2030.
There are currently 391,000 jobs in CNY including 256,000 in the private service sector and 40,000 jobs in the private goods producing sector. This number has remained fairly steady over the past thirty years. Major industry sectors in the region include health care, education, professional business services, trade, and advanced manufacturing. In order to sustain the region’s population base, additional jobs are needed across a broad cross-section of the economy. The target is to increase the number of jobs in CNY to 405,000 by 2030.
TACTIC 3
Increase the region’s per capita income to equal or exceed the national average by 2030.
The average per capita income in CNY is currently $34,732, up from 30,350, while the national average is $37,638, up from 35,672. Per capita income is measured in the American Community Survey, and has been increasing in each county in Central New York since 2009. To ensure that residents in CNY have sufficient income to meet their daily needs, the number of good paying jobs must be increased so the per capital income in CNY is equal to or exceeds the national average by 2030.
TACTIC 4
Improve the region’s national economic strength index rating to a “Top 50” score.
One method of evaluating the strength and growth of the CNY economy is looking at economic indexes that rank Metropolitan Statistical Areas (MSA). The Policom Corporation publishes the Economic Strength Rankings, which emphasizes the condition of local economies, and the Milken Institute publishes the Best Performing Cities, which focuses on job and wage growth. Currently, the Syracuse MSA ranks 146 (out of 384) on the Economic Strength Rankings, and 143rd on the Best Performing Cities. The target is to improve the Syracuse MSA ranking to top 50 standing in both indexes by 2030.
TACTIC 5
Increase the number of clean-energy jobs in Central New York as measured by the Brookings Institute by 25% over the next 20 years.
According to the Brookings Institute, there are 9,648 clean economy jobs in the Syracuse MSA, making up 3% of total jobs. Clean economy jobs are defined as those that produce goods and services with an environmental benefit. This concentration of clean jobs ranks the Syracuse MSA 11th in the nation. The target is to increase the number of clean-economy jobs by 25% to 12,060 jobs by 2030.
