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MadREP Report: May 17, 2018
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MadREP President Paul Jadin introducing Site Selectors from around the country to the Madison Region. |
Madison Region Hosts LiveXchange Conference
MadREP was honored to host Business Facilities 14th Annual LiveXchange event last week at the Edgewater Hotel. Paul Jadin and Michael Gay joined Mary Gage from WEDC in engaging 21 site selectors from around the country, many of whom were armed with specific projects that included the Madison Region on their short lists.
We are now working nearly two dozen attraction projects, which is about 5 times more than all of 2013, when we started targeting site selectors with outreach efforts.
Our visitors were very impressed with the venue, the region and their tours of Epic Systems and the University of Wisconsin. Many will be back for familiarization tours in the future.
One of the highlights was the keynote address by Dr. James Smith, who told attendees that key economic indicators point to as many as three more years of growth before the economy experiences another downturn.
Dr. Smith is the Chief Economist of Parsec Financial Management and has been named Best Forecaster by The Wall Street Journal. He cautioned us to watch for an "inversion" of short- and long-term yields of U.S. Treasury bonds, which he identified as the most reliable precursor to a recession in 2021.
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MadREP Releases 2018
Madison Region Economic Development Guide
Answering the question, "Who is the Madison Region today?" always fills us with pride. In this latest issue of the Madison Region Economic Development guide, you'll read many inspiring success stories from our eight-county region focused on five key industries: Advanced Manufacturing, Agriculture, Food & Beverage, Health Care, Life Sciences and Information Technology.
We could spend hours showing you data around job growth, GDP and our tax base that demonstrate the Madison Region is outpacing the state and, in many cases, the U.S., but it's the talent in this region that makes us truly exceptional.
After reading these stories, we're confident you'll understand why the Madison Region is an exceptional place for business to thrive.
Read It Here!
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Economic Development:
Foxconn picks 28 companies to begin work on Wisconsin plant
Taiwan-based Foxconn Technology Group has selected 28 companies to do initial construction on its manufacturing plant in southeast Wisconsin.
Foxconn said in an announcement Monday that 27 companies are Wisconsin-based and one is from Illinois. The companies will be responsible for erosion control, mass excavation, storm water management and testing work. It's the initial phase of Foxconn's construction of a $10 billion flat-screen plant in Mount Pleasant.
Workforce Availability:
Without visas for foreign workers, seasonal businesses are struggling to fill jobs
Sunnypoint Landscape in Egg Harbor should be building patios and planting shrubs these days, not turning away business because of a labor shortage.
But the latter is what's happening at the 32-year-old Door County firm as it struggles to fill seasonal jobs normally taken by foreign workers.
Earlier this year, when Sunnypoint Landscape applied for visas to sponsor those workers, it received none.
Innovation:
How University Innovations Change the World
Just last August, we stood together in Janesville to commemorate breaking ground on the first building for SHINE Medical Technologies, a spinoff from technology developed at the University of Wisconsin-Madison College of Engineering. While it may have looked like just another ribbon-cutting ceremony with speeches and dignitaries, to us it was steeped in deep meaning.
The University of Wisconsin produces some of the best engineers and most innovative research to be found. It is capable of solving major problems that have not only state and national impact, but worldwide impact as well.
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New Partnerships:
American Family Insurance and The Main Street America Group pursue merger
Madison, Wisconsin-based American Family Insurance group and Florida-based The Main Street America Group will pursue a merger, the companies announced today.
Approved by the companies' boards of directors, the merger will improve diversity of risk, promote growth through geographic expansion and provide agents and policyholders broader product offerings.
Business Awards:
Wisconsin Family Business of the Year Award: 2018 winners announced
Seven family businesses were honored at the fifteenth annual Wisconsin Family Business of the Year Award banquet held
Thursday evening at the Monona Terrace Community and Convention Center in Madison. Three grand awards were presented along with four special awards.
"We love to tell the stories of the family businesses that are nominated for this award. The resilience, creativity, ethical standards, and generosity of these businesses is inspiring. We are proud to sponsor this program" stated James Hartlieb, President of co-sponsor First Business Bank.
Business Relocation:
New Glarus Farmers Market Opens in New Location with More Local Vendors
A dedicated team of local volunteers is working hard to bring back the New Glarus Farmers Market for the 2018 season. The Market [kicked] off on Friday May 11, from 3:00 p.m. until 6:30 p.m., in the New Glarus Hometown Pharmacy Parking Lot on Highway 69, south of the stop lights in New Glarus. In the plans for the 2018 season include vendor offerings of amazingly fresh, locally grown produce, meat, eggs, baked goods, jams, honey, pickles, sauerkraut, plants, fibers, artisanal crafts, and much more.
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Workers Available: Understanding the Area's Labor Pool, May 23
Join us for a special event, where the results from the recently completed Labor Availability Analysis will be revealed.
This study sought to answer a variety of questions about the Dodge/Jefferson county laborshed, the 10 county region from which Dodge and Jefferson county employers draw their workers
Michael Walker, Assistant Director of the Docking Institute, will be on hand to present the findings and answer your questions.
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"Business Transition Planning" Workshop, May 22
Presenters Mike Mathews of Economic Growth Advisors and Cathy Durham of Capital Valuation Group will cover the basics of business transition planning.
Regardless of size and age of ownership, having a succession plan is the best way to ensure the longevity of your business and safeguard retirement plans.
This course covers the basics of planning for the future, including guidance for positioning your business for sale or preparing for internal transition.
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What can Wisconsin learn from S. Carolina's BMW project? May 24
Foxconn's potential impact is huge. Hear how a similar investment from BMW affected the South Carolina's economy and take away lessons learned from the big changes in that state.
Joey Von Nessen, a top economist at the University of South Carolina who has studied the BMW impact on manufacturing clusters, also does annual economic forecasts for the state and provides expert advice to the Federal Reserve.
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Information on Short-term Rental Licensing, May 30
A free public workshop will be held in collaboration with the Greater Madison Convention and Visitor's Bureau to inform about the licensing process.
It will be on Wednesday, May 30, from 6:00 pm to 8:00 pm at the Sequoya Library, 4340 Tokay Blvd, Madison. Staff from the Madison Zoning and Treasurer's Offices, as well as Public Health will be on hand to answer questions after a 20-minute presentation.
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The 2018 BUILD Act & EPA Brownfields Program, June 6
The Brownfields Utilization, Investment, and Local Development Act (BUILD Act) was recently enacted. The BUILD Act amends the 2002 Brownfields Law and authorizes changes to EPA's Brownfields program. Join us for a webinar that will feature members of EPA's Brownfields and Land Revitalization Program who will provide an overview of how the BUILD Act changes some aspects of EPA's brownfields grants, ownership and liability requirements, and State & Tribal Response Programs.
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CultureCon USA 2018, June 6-7
CultureCon is a non-profit organization with a mission to impact the workplace by connecting humans to spread positive change around organizational culture. CultureCon is an annual day and a half event hosted in beautiful Madison, WI on June 6-7, 2018.
CultureCon includes: 4 keynotes, 26 breakout sessions, Disrupt Madison, The Innovation Hall, a philanthropy event, and much, much more.
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Morgridge Entrepreneurial Bootcamp, June 11 - June 15
The Morgridge Entrepreneurial Bootcamp (MEB) is a one-week intensive training program in technology entrepreneurship for graduate students in the sciences, engineering, and math.
MEB is co-sponsored by the Initiative for Studies in Transformational Entrepreneurship (INSITE) and the Weinert Center for Entrepreneurship.
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Design Thinking for Business Innovation, June 20
You don't need to be a designer to think like one.
The design thinking principles can be applied to any situation to create successful business strategies.
This workshop introduces and elaborates on the tools and practice modes of Design Thinking and the theory behind it with an emphasis on business innovation and the desired outcomes for the customer.
Register Here
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Things to Consider When Selling or Buying a Business, June 12
When selling or buying a business there are many things to consider - price, terms, allocation of price to various assets, covenants not to compete, extended consulting after the sale, and several other things.
In this presentation we will go over each of these with some depth.
Plenty of time of questions and answers.
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