Prosper Unveils Economic Dashboard to Showcase Birmingham’s Economic Vitality
The economic landscape of Birmingham, Alabama has been encapsulated in a new dashboard by Prosper, a local organization dedicated to promoting inclusive economic growth in the city. The economic development dashboard evaluates the region’s performance in vital economic domains including median income, educational attainment, labor force participation, and growth in the healthcare, technology, and manufacturing sectors.
Dashboard’s Crucial Metrics
Launched recently, Prosper’s collaborative dashboard profiles the city’s economic performance in four key categories. The goal is to offer a comprehensive outlook, and consequently establish targets for Birmingham to aim for in these sectors over the next half-decade. Data used for the dashboard is drawn from respected sources like the US Census and the Bureau of Labor Statistics metro data. The dashboard also draws attention to disparities among varying sub-demographics.
“For each economic area, we will establish goals for Birmingham to achieve over the next five years. Additionally, the dashboard highlights disparities among various subpopulations,” stated Aryan Anerao, Prosper Data Specialist and the driving force behind the dashboard.
A Peek Into the Dashboard Data
The dashboard offers specific data on each category. For instance, under the educational attainment criterion, the distribution in Birmingham is revealed as:
- High School Degree – 88%
- Four Years of College – 30%
- Some College – 20%
- 2 Year Degree – 10%
In comparison, Raleigh, North Carolina, a city of similar size, reflected the following statistics:
- High School Degree – 92%
- Four Years of College – 50%
- Some College – 18%
- 2 Year Degree – 7%
The Significance of Prosper’s Dashboard
The creation of this economic dashboard is an outcome of sustained engagement among the city, county, corporate, and nonprofit entities over the last two years. Monitoring the city’s growth and offering citizens insights into trends and opportunities is the prime goal of this tool. The dashboard is accessible on Prosper’s website, where interested parties can draw comparisons between the economic vitality of Birmingham and other cities like Atlanta, Raleigh, Montgomery, Huntsville, and New Orleans.
“Having a comprehensive data tool that not only facilitates our growth but also empowers citizens by providing insights into trends and opportunities will accelerate the ongoing development of Birmingham,” noted Cornell Wesley, Director, Department of Innovation and Economic Opportunity, City of Birmingham.
This dashboard is believed to be a significant tool for grounding the community’s future economic development strategies in solid data. By clarifying where Birmingham stands in comparison to other cities, it highlights areas that need attention and progress. In addition to being an informative tool for the community at large, the dashboard is expected to assist decision-makers in creating more focused policies and strategies. Moreover, it demonstrates the commitment of organizations like Prosper to foster transparency and progress within Birmingham’s economy.
