Report maps economic future
Construction, financial services, healthcare and manufacturing, according to a new labor market study, are key industries driving the labor market north of Boston. Each employs a large percentage of workers, and all hold promise for future job growth.
But they require higher skill levels and more highly educated workers than ever before. Math, English, and problem-solving skills are among those that entry-level workers need to succeed in the industries, the report states.
The Labor Market Blueprint, prepared for the North Shore Workforce Investment Board, provides a snapshot of the job scene in 19 local communities.
Private-sector employment totals 145,076. Construction and financial services each posted a 16.5 percent job-growth rate from 2001 to 2006. Construction last year had 6,989 workers, and financial services and insurance employed 6,406. Healthcare employed 25,704, an 8 percent increase over the five-year period.
Manufacturing declined 21 percent. The sector now employs 20,046, compared with 24,262 in 2001. But the sector remains a significant source of jobs, and offers high wages and career advancement, the report said.
Emerging industries include biotechnology, with the sector taking root in places such as the Cummings Center in Beverly. Advanced education, starting with a master's degree, is required for most to succeed in the industry. The so-called "cultural economy," a buzzword for arts, tourism, and related businesses, is another potential growth area.
The workforce board encourages schools, economic development agencies, and private business organizations to use the blueprint as a planning tool for workforce training. The report is available for viewing at northshorewib.com
Buildings magazine has named Cummings Properties LLC to its Top 25 "A List" real estate firms. The company, owner of the Cummings Center in Beverly, ranked number 19 on the list, which also included such national firms as Cushman & Wakefield, ranked number four, and CB Richard Ellis, at seven.
The big names dwarf Cummings, which has developed 9 million square feet of office space in suburban office parks north of Boston. But Cumming is the only New England firm to make the list, which is compiled by the editorial staff at the magazine.
"This is an extraordinary testament to the more than 300 dedicated men and women who make their careers with Cummings Properties," said Steve Drohosky, general manager at the Cummings Center and a company vice president.
The magazine cited Cummings's debt-free balance sheet. The company finances out of pocket and has no mortgages on its properties.
It also noted its quick turnaround time.
Cummings is developing TradeCenter 128, a 400,000-square-foot office building in Woburn that will house the Middlesex Superior Court for five years while the courthouse in Cambridge is renovated.
The family couldn't afford to fix it right away, so they went without heat for a few weeks. In May, Fernanda Lopes decided it might be time to think about switching to natural gas, a cleaner-burning fuel. She got estimates on how much it would cost to convert the heating system to gas. The best price: $5,100.
"I'd been thinking about converting for awhile," said Lopes, 29, an assistant bank branch manager who attends Northeastern University at night. "I thought it could help the environment. . . . But it was very expensive" to convert.
Then she caught wind of the "Be Green, Win Green Sweepstakes," an energy conservation program run by KeySpan Energy, a natural gas company now owned by National Grid. The grand prize was a free heating-system conversion, plus four energy-efficient appliances. She filled out the online entry form, noting the $5,100 cost estimate.
Lopes nearly forgot about it until KeySpan called last month to say she was the grand-prize winner. "Right away, I asked, 'How much is this going to cost?' " said Lopes, a Brazilian immigrant who lives with her parents. "She said, 'It's free.' I said, 'Are you kidding me?' I'd never won anything in my life."
KeySpan is to complete the conversion in the next few weeks. Lopes and her parents now are trying to pick out the most efficient washer/dryer, stove, refrigerator, and barbecue grill.
"It's a Christmas present that just came a little bit early," Lopes said.
Kathy McCabe can be reached at kmccabe@globe.com. 