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I rlui l:ulrIE G rc wfl'7 1'i (:)f'ik ()F I '7c 1Re »eairc r I'ii ieu °rglle lRe&n also highest in major cities and on the outer northeast edges of the region. And while rent burden (households spending 30 percent or more of income on rent) is persistent throughout the region, it is more prevalent in these same areas. Not coincidentally, communities of color are highly concentrated in these same outer fringes and inner boroughs. Blacks and Latinos stand out as having significant obstacles to economic success, even once adjusted for education. Among those with a bachelor's degree, only 59 percent of Blacks and 46 percent of Latino immigrants have access to "high-opportunity" jobs that offer good prospects for future growth, while nearly three - quarters of Whites and over 80 percent of Asians have access to those same jobs. Racial economic inclusion would strengthen the economy Rising inequality and racial gaps in the region are not only bad for communities of color — they also hinder the whole region's economic growth and prosperity. According to our analysis, if there were no racial disparities in income, the region's GDP would have been $21.8 billion higher in 2012. Unless racial gaps are closed, the costs of inequity will grow as the Research Triangle becomes more diverse. Implications The Research Triangle region's growing, diverse population is a major economic asset that will help the region compete in the 11(fli y4 silk acid III 1:1 global economy — if its leaders invest in ensuring all residents can connect to good jobs and contribute their talent and creativity to building a strong next economy. Our data analysis suggests focusing on the following goals to spur more equitable growth in the region. Below we describe each goal and share strategies that regional leaders might pursue to advance them. Grow good jobs and create pathways into them for workers facing barriers to employment The region's higher levels of unemployment and lower levels of educational attainment for many members of its communities of color call for a strong focus on creating on -ramps to good, family- supporting careers for these populations. A robust strategy for growing new good jobs and connecting workers to them is critical for the region's future economic prosperity. Local economic and workforce development efforts should be focused on the sectors and occupations that show signs of strength and pay living wages. This can help create the " Inigh- opportunity" jobs that anchor a broad middle class. There are several promising approaches to building pathways, including the following: • Implement sectoral workforce strategies that connect workers with low education levels to high - quality training programs that lead to gainful employment in growing sectors of the economy. Such approaches are a win -win for employers who need access to skilled workers as well as workers seeking employment.' 11'1° e IResearch lhriiangllr IIRegiia)irn s C3II:)II =" wokfld 1have Ibeei n $21.8 biilllliion higher in 2012 if b° ere were no r ciiell diisp riilies in iincor�ne. Actual GDP and Estimated GDP without Racial Gaps in Income, 2012 „GDP in 2012 (billions) ill GDP if racial gaps in income were eliminated (billions) Source: Bureau of Economic Analysis; IPUMS. Note: Data for 2012 represent a 2008 through 2012 average. $160 $140 $12.0 $100 $80 $60 $40 $20 `0 quity lividend: 21.8 billion