There is an opportunity at hand for companies and workforce developers to solve their most pressing talent challenges using skills-based practices to expand the talent pipeline.
Orlando, Fla. – There is a perfect storm brewing that all workforce developers and educators should be aware of. The need for semiconductor manufacturing talent in America is about to explode and outstrip the supply of talent that currently exists.
To meet only the most critical talent needs, the workforce in America will need to grow by 50 percent – anywhere from 70,000-90,000 jobs. This is one of the findings from a new whitepaper series released by the Orlando Economic Partnership (OEP) as part of the UpSkill Orlando initiative, sponsored by JPMorgan Chase.
Divided in two parts, the whitepaper series outlines the workforce challenges currently facing the semiconductor manufacturing industry and presents a skills-based analysis to suggest other occupations where workers have highly compatible skills.
Emphasizing a skills-based approach underscores the critical role that related industries play in nurturing the semiconductor cluster’s growth and the ability to drive economic growth, innovation, and global competitiveness.Tim Giuliani, President & CEO, OEP
A thriving domestic semiconductor industry, and a specialized workforce pipeline are essential for the country’s technological leadership and our ability to shape the future,” Giuliani added.
From a company perspective, these occupations represent the shortest path to proficiency. Recruiting workers based on their skills lessens the amount of training needed to be done to fill current roles. From a workforce developer perspective, moving from these compatible occupations to a role in semiconductor manufacturing would represent a significant increase in wages.
Part I – An Industry and Ecosystem Primer is an overview for individuals who want to understand the complicated global supply chain of semiconductor manufacturing and Orlando’s special niche in the realm of advanced packaging. Part II – A Skills-Based Approach to Workforce Development dives into describing the semiconductor manufacturing workforce and skills-based tactics for widening the existing talent pool.
This whitepaper series highlights how national and regional trends are converging in Orlando.
The growing reinvestment in America’s semiconductor manufacturing capabilities combined with a national focus on skills-based hiring merge here because of Orlando’s deep roots in aviation and defense that provide a customer base to some of the most advanced chip makers in the world, and the region’s dedication to broad-based prosperity and creating employment opportunities with upward mobility for all residents.Tim Giuliani, President & CEO, OEP
As $280 billion dollars in Federal investment from the CHIPS and Science Act spur a new age of semiconductor manufacturing, where more cutting-edge chips are made in America, there is an opportunity at hand for companies and workforce developers to solve their most pressing talent challenges using skills-based practices.
We are committed to maintaining strong collaborations with education and training partners as we strive to further cultivate a skilled semiconductor workforce. An excellent example of this dedication is our partnership with Valencia College for their cutting-edge semiconductor training program.
All of this underscores the significance of the $50.8 million our regional coalition won through the Build Back Better Challenge, aimed at enhancing the semiconductor manufacturing sector within Oceola County’s NeoCity and now we take a more direct approach to how we supply the demand for talent. This not only strengthens our technology workforce but also will secure domestic supply, create higher paying jobs and have compounding ripple effects throughout the economy and positioning the region to lead the nation in semiconductor reshoring.
The whitepaper series can be found at Orlando.org/upskillsemiconductor. Stay tuned for the third installment of the series which will look at the future of talent development, exploring K-12 and higher education programs in Orlando designed to help fill the semiconductor manufacturing talent pipeline.
ABOUT UPSKILL ORLANDO
Made possible through the generous support of JP Morgan Chase & Co., UpSkill Orlando is a regional, skills-based talent strategy driving a pathway to Broad-based Prosperity®. UpSkill Orlando works to create upward mobility opportunities by working with local employers and educators together to create skills-based career pathways.
ABOUT JPMORGAN CHASE
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.2 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.