Decent Work and Economic Growth
Introduction
Decent work and economic growth aim to promote inclusive, sustainable economic growth, productive employment, and decent work for all, as outlined in UN SDG 8. These efforts are crucial for reducing poverty, enhancing livelihoods, and fostering regional economic resilience. The University of Toledo supports economic growth through initiatives that promote employment, skill development, and entrepreneurship.
Key Initiatives
- Workforce Development Programs:
UToledo prioritizes practical, skill-based education through its internship and co-op programs, connecting students with local industries to gain valuable work experience. These programs not only support students’ career paths but also contribute to regional economic growth by supplying skilled workers to the local economy. - Innovation Hubs and Entrepreneurship:
The university fosters entrepreneurship through innovation hubs, including the Small Business Development Center (SBDC) and Rocket Innovations. These centers offer funding, mentorship, and training, encouraging start-ups and small businesses. They have successfully supported over 500 new businesses and created hundreds of jobs within the region. - STEM Job Initiatives:
The university's focus on Science, Technology, Engineering, and Math (STEM) education has helped boost employment opportunities. Programs aimed at diversifying STEM fields have led to the creation of new career paths, ensuring that students are well-equipped for high-demand roles in a competitive economy. - Sustainable Procurement Policies:
UToledo supports local businesses and promotes economic growth by sourcing locally for various campus needs. This approach aligns with sustainable economic development goals and encourages fair labor practices.
Achievements and Impact
- Creation of Over 1,000 Jobs:
UToledo’s initiatives have led to the creation of over 1,000 jobs through its innovation hubs, entrepreneurship programs, and collaboration with local industries. - Increased Economic Output:
The workforce development programs have boosted the local economy by an estimated $20 million annually, driven by higher employment rates and improved skills among students entering the job market. - STEM Graduates Prepared for High-Demand Jobs:
Programs focused on STEM fields have equipped over 10,000 students with skills for high-demand roles, significantly contributing to regional economic development.
Why It Matters?
Promoting decent work and economic growth is essential for building sustainable, inclusive communities that provide equal opportunities for all. UToledo’s commitment to creating job opportunities, supporting local businesses, and fostering entrepreneurship reflects its role in advancing regional economic development. These efforts align with AASHE STARS and UN SDG 8, demonstrating a comprehensive approach to enhancing economic resilience.