By 2027, it is projected that 70 percent of adults in the United States will require a credential beyond high school to further their careers. However, current statistics reveal that only 51.2 percent of Ohio residents hold a two-year degree, four-year degree, or industry-recognised certificate, highlighting a significant gap that could hinder career advancement and adversely affect the state's economy.
In response to the escalating changes brought about by technology, automation, and artificial intelligence, both public and private sectors in Ohio are collaborating to ensure that students are adequately equipped for future job markets. This initiative is led by Ohio Excels, a nonprofit organisation that focuses on enriching and reformulating the educational framework in the state, in partnership with local businesses.
In 2020, JPMorgan Chase made a substantial move by committing $7 million over five years to support this job-training initiative, as part of a broader $75 million global investment aimed at preparing young individuals for the workforce. The partnership focuses on delivering essential skills and education through the Global Career Readiness Initiative. Through this programme, Ohio Excels collaborates with local educational institutions, including Columbus City Schools and Ohio State University, to provide high school students with vital work-based learning experiences in crucial sectors such as information technology, health care, and advanced manufacturing.
Lisa Gray, President of Ohio Excels, emphasised the transformative power of such programmes in students' lives. She recounts a success story involving an Ohio student who benefited from a career pathway programme and eventually secured a job that enabled him to purchase a home for his family, exemplifying the positive outcomes of these initiatives. "Stories like that illustrate what Ohio Excels is all about," Gray said, expressing the belief that these educational programmes not only empower students but also strengthen local communities and families.
JPMorgan Chase has a longstanding history of engagement with Ohio, having been one of the state's largest employers for over two centuries. The organisation is dedicated to bolstering the local economy through various initiatives, including a financial commitment of $600,000 to initiatives such as the Greater Cleveland Career Consortium and the Cleveland Municipal School District, which aim to provide high school graduates with clear career pathways and strategies to achieve their goals.
Additionally, the bank has facilitated a $6.5 million New Markets Tax Credit equity investment in PUBCO Cleveland to foster the creation of new manufacturing jobs with sustainable wages. Corrine Burger, the JPMorgan Chase Columbus Location Leader, highlighted the importance of workforce development, stating, “Building on our longstanding commitment to Ohio, JPMorgan Chase is focused on ensuring that Ohioans have the necessary skills and resources to participate in the growth of the local economy.”
The ongoing partnerships and investments reflect a concerted effort to adapt to the evolving landscape of employment affected by advancements in automation and artificial intelligence. As Ohio works towards improving educational outcomes and credentials among its workforce, these initiatives are poised to have a lasting impact on the state's economic future.
Source: Noah Wire Services