Wichita leaders eye changes following economic analysis

WICHITA, Kan. (AP) - Community leaders are on a mission to improve Wichita after new figures indicate that the city’s economy is struggling.

Analyst and Wichita native James Chung presented an analysis of the city’s economy to community leaders last week. The Wichita Community Foundation hired Chung three years ago to look at the city’s strengths, problems and potential, the Wichita Eagle reported .

Wichita lags behind most of the country in key economic indicators, according to the analysis. Gross domestic product for cities nationwide grew an average of 16 percent this decade, while Wichita’s dropped a percent point. The U.S. labor force also grew significantly over this decade while Wichita’s shrank.

The result is a constrained labor market for Wichita, making it harder for the city to grow ventures and attract businesses to come, Chung said.

“The market is saying very clearly that the Wichita way is not working,” he said.

Wichita government and civic leaders agreed that changes are necessary.

“I don’t want to say, ’Don’t panic, folks,’” said Mayor Jeff Longwell. “I think there deserves to be a wake-up call.”

The foundation followed Chung’s presentation with plans to invest $1 million to create the Talent Ecosystem Fund. The fund will be invested in workforce issues, talent development and lifelong learning.

Fidelity Bank President Aaron Bastian is co-chairing Project Wichita, a community engagement project to gather public input on what local residents want the region to look like in 10 years. Public officials said they want to use the project’s results to help shape development priorities.

There’s evidence Wichita has taken large strides to revitalize itself, Bastian said.

“We just need to do it faster and more of it, and we need to do it now,” he said.

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Information from: The Wichita (Kan.) Eagle, http://www.kansas.com