Panelists discuss economic development challenges in Jonesboro

The U.S. economy is rapidly evolving, and automation will dramatically change what jobs workers perform in the future, according to Jonesboro Unlimited Vice President for Economic Development Mike Downing.

This new economy will be driven by three sector – healthcare, computer technology, and clean energy, he said Thursday (April 19) during a panel discussion on economic development at the Arkansas State University Jonesboro campus.

“It’s becoming a knowledge economy. … It’s changing employment,” he said. “Automation will have a major impact.”

Downing was joined on the panel by Delta Regional Authority co-chairman Chris Caldwell, and Jonesboro Director for Community Development Tiffny Calloway. The discussion was part of the Neil Griffin College of Business entrepreneurship and innovation series.

Cities like Jonesboro need to attract and retain highly skilled, talented workers, Downing said. Quality of life is a key factor for many skilled millennial workers, he said. Access to art and culture, a vibrant downtown, bars, coffee shops, and other venues for social interactions are priorities for millennial, Calloway said. A strong push has been made by civic and business leaders in recent years to revitalize the downtown, she said.

Calloway compared Jonesboro to Springfield, Mo., a city in the southwestern part of the state that has a lot of similarities to Jonesboro even though it’s much larger. At least $52 million has been spent to upgrade that city’s downtown, she said.

“We want to make downtown a place to visit and a place to stay,” she said.

One advantage Jonesboro and the rest of Northeast Arkansas has is the low cost of living, Caldwell said. More jobs in the new global economy are not geographic specific, meaning the worker can live anywhere. Broadband internet access will help Delta communities develop these “telecommute” jobs, he said.

Caldwell told students who attended that adaptability will be a trait required as they move into the workforce. The makers spaces developed in Jonesboro in recent years – The Garage, The Lab, and The Shop – are on similar with entrepreneurial maker spaces in Memphis and Little Rock.

“What you have here is on par,” he said.

There are entrepreneurial opportunities for young, wanna-be business owners, Downing said. There has been more than half a billion dollars invested in the healthcare sector in Jonesboro in the last few years, and that has created abundant opportunities, he said.

There is one key to success that all three panelists agreed upon.

“Find your passion. Find what you love to do,” Downing said.