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In this edition of Real Results, we give you an update on the progress that the Milwaukee Streetcar is continuing to make with construction being on time and budget. Coming off of exciting new announcements that include a name for the system as well as securing a presenting sponsor, there is much to celebrate.
Also, we are less than a week away from Milwaukee Startup Week presented by Northwestern Mutual. Spanning from November 6 - 12, the week includes more than 30 events focused on building Milwaukee's startup community. Mark your calendars!
We sit down with Jim Paetsch of Milwaukee 7 to hear about the great work he is leading at the southeastern Wisconsin regional economic development agency.
In the By the Numbers segment, we highlight where the nearly 40,000 people that have moved to Milwaukee County previously resided. The results might surprise you!
As always, thanks for reading!
Matt Dorner
Economic Development Director
Milwaukee Downtown, BID #21
Follow us on Twitter @RealResultsMKE
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The City of Milwaukee recently announced a presenting sponsor, name and free rides for the first year as streetcar work progresses on time and on budget. The name will be "The Hop, presented by Potawatomi Hotel & Casino." The deal is for a $10 million sponsorship over 12 years and the funds will be used to offset operating costs, including free rides for the first year.
Construction of Milwaukee's streetcar system is well under way. Over 60% of track work has been completed and over 80% of the overhead catenary system (OCS) pole foundations have been set. Throughout the winter months, there will be some pole and cable installation and less roadway work. In spring, look for final road restoration, including resurfacing the street, pavement marking, sign installation, and landscaping.
The City continues to work closely with downtown stakeholders to make travel and access as easy as possible during construction. Now and throughout construction, a streetcar communications team is in place to share information and updates about construction, solicit feedback from those who live and work in the area, help to minimize impacts, answer questions and more. Stakeholders may call the dedicated Streetcar Helpline at 414-388-9418 or email:
comments@themilwaukeestreetcar.com
.
Also, continue to look for promotional events in the area as well, including weekly "Snack Along the Track" lunch meetups, Streetcar Socials and other events.
Brand elements, including vehicles, signage and a new website, will be developed and rolled out in early 2018. Until then, information will continue to be available at
www.themilwaukeestreetcar.com
. Get ready to hop on in fall 2018!
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Milwaukee Downtown and First Bank Financial Centre remind commercial property owners and small businesses currently in or looking to locate in Business Development District #21, about the low interest loan pool that we have teamed up to create in an effort to continue to promote revitalization and business growth.
The Milwaukee Downtown Business Development Loan Pool (BDLP) program is designed to encourage development and investment in the Business Improvement District #21 boundary. The program can be used as a primary loan, or in conjunction with other funding sources. Based on a project by project basis, loans are generally between $10,000 and $25,000, with attractive interest rate that can be fixed as low as 1.0% with favorable terms.
The BDLP program may be used to finance business and commercial revitalization expenses such as land or building acquisition, building improvements, equipment purchases, environmental or safety compliance, demolition and more.
Multiple downtown property owners and businesses have taken advantage of this unique incentive to assist in moving projects forward. Click
here
for more information and to download a BDLP brochure.
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The second annual Milwaukee Startup Week presented by Northwestern Mutual will bring together entrepreneurs, investors, local leaders and major companies to build momentum and celebrate entrepreneurship in Southeastern Wisconsin.
The week will include over 30 events hosted by a group of 25+ Community Partners with key themes focused on corporate innovation, venture capital investment, free workshops for entrepreneurs, connecting college and high school students interested in entrepreneurship with local resources and more!
Hot off the heels of their recent
announcement, presenting sponsor, Northwestern Mutual, will kick off Milwaukee Startup with a reverse pitch event. Interested local startups will present various ideas that aim to help solve one of five business challenges identified by the company. The Startups will then have an opportunity to pitch there ideas at a later date to Northwestern Mutual, and the winning startup will receive $10,000 and other incentives such as free space in the new headquarter's building for up to one year.
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According to recent research by
Urban Milwaukee
, nearly 40,000 new residents moved to Milwaukee County from 2011 to 2015. The distribution of where the new Milwaukee County residents are coming from is noteworthy with approximately 55% coming for other counties in Wisconsin and the remaining 45% coming from outside of the state.
Cook County, IL which is home to the City of Chicago, had the second highest concentration of movers to Milwaukee County. Following is a list of the top 10 locations people resided before moving to Milwaukee County from 2011 to 2015.
| 1. Waukesha County: |
6,421
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| 2. Cook County, IL (Chicago): |
2,456
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| 3. Racine County: |
2,197 |
| 4. Dane County: |
1,511
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| 5. Washington County: |
1,312
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| 6. Ozaukee County: |
1,142 |
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7. Kenosha County:
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816 |
| 8. Brown County: |
739
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| 9. Sheboygan County: |
639
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| 10. Lake County, IL (north of Chicago): |
627
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These 10 counties account for nearly 50% of the new residents that moved to Milwaukee County between 2011 and 2015.
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What M7 "win" stands out in your mind the most as having a significant impact on the region?
We've had more than 80 project wins over the last decade, and each was important in its own way. I'm really proud of the work we did to bring Ingeteam to Wisconsin. Back in 2010, the global economy was still in bad shape and the Ingeteam project couldn't have come at a better time. Perhaps more importantly, it was proof that Milwaukee can attract companies. Ingeteam could have picked anywhere in the U.S. for its factory and the fact that the company picked Milwaukee, says a lot about the competitiveness of our assets. We stack-up favorably against any place in the country for manufacturers, and the story in Wisconsin has only gotten better since that time. I think that project was a springboard for us and this region.
Are there any upcoming projects that you see as a key to Milwaukee's continued growth?
Certainly Foxconn is going to have a big impact, not only in Racine, but across the entire region, including downtown. We've secured the largest corporate attraction project in U.S. history. I think we're just beginning to understand the impact it will have. Our universities will benefit. Downtown housing and shopping will benefit. It will create unprecedented opportunities for suppliers. The list goes on and on. The key will be leveraging the impact to create even greater benefit across the entire region.
What do you see as downtown Milwaukee's greatest upcoming opportunity?
I think we need to look at the downtown building boom, not as something that will inevitably come to an end, but as something we can use to leverage still further growth. It's classic accumulation of advantages.
What do you see as the biggest challenge to overcome to continue to grow the region?
It's certainly no secret, but the big challenge is how we continue to make this a place where people want to live and work. We want to be a destination for people who are bright.These people can probably live and work wherever they'd like. How do we get them to choose Milwaukee? I think the answer lies less is solving our problems than building on our assets. Every place has problems. What do we have that's good and how do we build upon those things? This requires an honest assessment of our assets. Can we see ourselves the way others see us?
When you are not working, what is one of your favorite hobbies?
I like to run. When I go to a new city, either for business or pleasure, I greatly enjoy getting out for a jog. It's a fun way to experience a city and get a feel for it. The vibe on-foot is always interesting. But I also enjoy coming back home. Our Lakefront is an excellent place to run.
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