Robert Sumichrast typically sticks to what he mines from charts and graphs in forecasting Georgia’s economic outlook.
The outgoing dean of the University of Georgia’s Terry College of Business, however, dropped a nugget of a more philosophical nature on Savannah’s business leaders during Thursday’s Economic Outlook Luncheon at the Westin Savannah Harbor Resort.
The state must improve academically to improve economically, Sumichrast said.
“Georgia has implemented many positive economic development changes,” said Sumichrast, who recently accepted a job to head up Virginia Tech’s business school after six years with the University of Georgia. “The state’s biggest competitive challenge, however, is in the quality of our K-12 education.”
Workforce readiness has been a priority locally since the wane of the recession. The Savannah-Chatham County Public School System has revamped its approach, establishing specialty schools geared toward career paths and expanding its technical and vocational programs.
And local industries, like Gulfstream, have become heavily involved in STEM (an acronym for science, technology, engineering and mathematics) programs.
Those steps should prove “helpful” to Savannah’s economy in the future, acknowledged local economist Michael Toma, who also spoke at the event.
Sumichrast encouraged business leaders to continue to push for improvement. Only 65 percent of Georgia high school freshmen will graduate within four years, Sumichrast pointed out, compared to 75 percent nationally and 85 percent in European Union countries.
Such disappointing numbers do not escape the notice of companies considering Georgia as a relocation destination. A poor reputation in terms of education is particularly costly to the state in attracting “high-paying, highly-technical” businesses.
“It is time to change the culture of the state,” Sumichrast said. “We need to increase the value we place on academics.”