Sunday, December 30, 2007
Rockledge is not just about a restaurant
The future of Roanoke
From the RoundTable blog
Read the latest entries
Jay Foster
Foster is president of SoftSolutions. He lives in Roanoke.
Some regions have a certain "new economy" attraction that is beyond question. For example, when I meet people who are working in Silicon Valley, Austin, Boston or Raleigh, the question "Why is your firm located there?" never comes to mind.
Yet when I meet people outside of our region, they are often curious as to why I work for a software company located in Roanoke. It is intriguing to ponder how certain regions, such as Austin have made the transition from "Why are you there?" to "Shouldn't we be there, too?"
This question is about more than bragging rights to which regions have the greatest "cool factor." It could ultimately determine which regions thrive and which decline. Like it or not, today's economy is entering a new era that should have all of us on our toes. If we don't have a viable strategy for job growth, we are destined to fall further behind.
Most economic and demographic indicators tell us to prepare for significant challenges ahead.
First and foremost is the reality of America's baby-boomer generation reaching retirement age. America's prolific surge around World War II (25 births per 1,000) subsided in the mid-1960s (15 births per 1,000). As a result, the baby-boom surge was followed by a precipitous fall in Generation X babies. As the boomers start to exit today's job market, there are not enough GenX skilled workers to take their place.
Meanwhile, the U.S. economy has continued to expand at a steady rate over the decades since World War II. The result: An expected severe shortage of skilled, experienced workers in the midst of unprecedented demand.
Metropolitan regions with a recognized vibe or "new economy brand" are likely to already have a solid base of such high-demand, skilled workers. More importantly, such regions already have momentum, which keeps their population growth at or above the national average. Contrast that dynamic with Roanoke's anemic annual population growth of less than .5 percent over the past decade -- half the average growth rate of Virginia.
Growth isn't everything. The qualitative traits of a workforce that generates on-going economic prosperity is actually more important than simple quantitative per capita growth rates (think illegal immigration). This is where that coveted "creative class" comes into play. Regions that generate population growth, especially among the creative class, will have a competitive advantage to generate more high-paying jobs in the post industrial economy.
Given these factors, what is being done to keep our region from tipping into economic decline? Regions that fail to execute a strategy of growth will face severe pressure from other regions that successfully attract away highly skilled professionals.
Employers will likewise seek out regions that are successful in attracting such workers -- and avoid those regions that fail to be proactive. Regions that fail in this area of attracting skilled workers will see economic hardship across most demographic lines -- from the "elite" to blue-collar to minimum wage workers (think Southside Virginia).
Rockledge Center on Mill Mountain is just one example of a proactive strategy for transitioning Roanoke toward a competitive advantage in terms of creating a vibe that attracts these scarce skilled workers, and hence their employers, in the years ahead.
An environmentally friendly, unobtrusive café and meeting center perched below the tree line of Roanoke's Mill Mountain provides one unique differentiator over most other metro regions across the United States. Such an initiative would not only elevate Roanoke's identity and strategic direction to those outside the region, but perhaps more importantly also to those of us already here.
Such a "green" meeting place overlooking the Roanoke Valley would do more to clarify who we are and where we are going as a region than any slick marketing campaign might hope to achieve. However, such a statement must be part of a broader, well-integrated vision for our region.
On one end of Roanoke's urban corridor, we would see the historic market building, downtown living, the new art museum, an upgraded Elmwood Park and greenways. On the other end of the corridor, we would have Rockledge perched on Mill Mountain. In between, we would have a showcase Roanoke riverside pavilion situated in the midst of an internationally recognized bio-medical clinic and medical college.
In this context, Rockledge is about far more than a restaurant with a nice view. It is about our commitment to transitioning our region and staking our ground in the new economy. It is a constructive step forward that helps us better answer the question, "Why Roanoke?"
