As we enter into 2019, Missouri continues to hear good news about our strong economy. Our state's unemployment rate has been sitting at the lowest level in nearly 20 years. Conservative reforms at the federal and state level focused around lower taxes and fewer regulations have made a difference. But businesses across our state continue to struggle to find the workers they need. At the same time, too many Missourians feel stuck in low-paying jobs that don't meet the needs of their families or allow them to reach their full potential in the workplace.
We must do a better job of equipping hard-working Missourians for success in the workplace. My administration's recently released budget calls for a total investment of nearly $75 million into bold and innovative workforce development programs. These programs will provide opportunities to train our workforce for high-paying, high-demand jobs, a top priority of my administration.
This week at the Capitol, legislation for our administration's Fast Track Workforce Grant Program was passed out of the House Workforce Committee thanks to the leadership of state Rep. Kathy Swan. And, due to state Sen. Gary Romine's leadership, the legislation has been heard in the Senate Education Committee and is moving through the legislative process. Fast Track is our bold new program we have created that will benefit tens of thousands of Missourians from every corner of our state and ensure our workforce is prepared for the demands of the future.
Take a Missouri family of four living with the median yearly household income of $50,227 here in Cape Girardeau County, just below the state median of $51,713. Circumstances came up earlier in life that prevented either parent from completing their college degree or certification. Both parents work hard, but they struggle to make ends meet with the demands of raising two children, caring for an elderly parent, and trying to save for the future goal of home ownership. Time is short with the full schedules of coaching ballgames and serving in their local church. Going back to school has been a dream of both parents, but the financial and time hurdles have made it seem unrealistic.
With our Fast Track program, these parents could receive a grant covering all or most of the cost to complete a program of study in a high-demand field. Fields like computer science, advanced manufacturing, and healthcare that offer a wide selection of available jobs, all with average salaries well above the family's current income level.
This example is just one of many stories that could be replicated across our state. Around 755,000 Missourians have some college experience but no degree, meaning there are thousands of individuals who could take advantage of this innovative program. Fast Track will provide our community colleges, tech schools, and universities with the means to equip students for the high-paying, high-demand jobs of the future. It will open up higher education opportunities for hard-working, middle-class families looking for a boost to pursue their dreams. And it will help Missouri businesses find workers with the training needed to fill their workforce demands.
Almost half of working-age adults in Missouri do not have a college degree or certificate. We've fallen behind other states in recent years in post-secondary education, and we know that in the 21st century extra levels of education are increasingly necessary to meet the demands of our workforce. Fast Track is a wise investment that will open doors for Missourians across our state to help continue building a stronger economy. Our business climate remains strong, but in order for businesses to succeed into the future, we must take steps to create a more skilled workforce ready for the jobs of tomorrow.
My administration will continue working with the Legislature to get this program approved, so we can get more Missouri families on the fast-track to economic success.
Mike Parson is Misouri's governor.
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