MadREP Report | January 22, 2021
Last week we brought you exciting news about our new partnership with the Milwaukee Bucks to support entrepreneurs. If you haven't already, be sure to sign up and let us know so we can stay connected with you through the process!

We would be remiss if we didn't remind you how important our individual behavior is on the road to economic recovery. Please take care of yourselves. Practice social distancing. Wear a mask. For the latest reopening and recovery resources, be sure to check the MadREP website often.
Data Spotlight: Regional Price Parities
The affordability of a community is a major factor in this age of footloose talent, as an attractive cost of living weighs heavily in many firms’ and workers’ relocation decisions. Regional price parity is a measure of regional price levels expressed as a percentage of overall national price level for a given year – a composite index score of 100 means a community is on par with the national average. The price level is determined by the average prices paid by consumers for the mix of goods and services consumed in each region. Check out MadREP's Data Dashboard for more.
MadREP in the News
Milwaukee Bucks team up with MadREP, local partners to...

The Milwaukee Bucks will partner with national nonprofit The Lonely Entrepreneur and three Wisconsin partner organizations to provide free support and education to Black businesses and entrepreneurs in the state, the team announced on Wednesday.

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madison.com
Bucks partner with MadREP to connect Black...

The Milwaukee Bucks and The Lonely Entrepreneur (TLE), a New York-based non-profit that empowers individuals with entrepreneurial skills and support, today announced their selection of the Madison Region Economic Partnership (MadREP) as a partner ...

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wisconsintechnologycouncil.com
Milwaukee Bucks, MadREP and others team up to support...

Fields said access to these programs can help Black entrepreneurs succeed in launching or establishing their businesses, and that, in turn, can lead to those same entrepreneurs giving back to their own communities. Fields said people...

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www.kenoshanews.com
Madison Region Economic Development Spotlight: Greater Madison is Garnering Greatness

It hasn’t taken long for companies across industry sectors from all over the globe to catch word of this thriving region, and many are making the move to take advantage of all it has to offer.

“I think businesses are taking a second, third and even a fourth look and saying, ‘Hey, somehow, we’ve got to have either our headquarters in Madison or at least a satellite office,’” says Paul Jadin, former president of the Madison Region Economic Partnership, the regional economic development organization covering south-central Wisconsin. “When we add two or three foreign companies, others then perk up and say, ‘What’s the deal with this movement to the Madison Region?’ They then do the research, look at all the rankings and say, ‘Hey, maybe it’s time for us to look at it as well.’”

Examples of companies that have expanded in the region since their move include Japan-based Fujifilm Holdings Corporation, which acquired cell developer and manufacturer Cellular Dynamics International; Luxembourg-based Eurofins Scientific, which purchased food testing company Covance Food Solutions; and Ireland-based Mallinckrodt, which bought regenerative skin tissue company Stratatech.

Other well-known companies that call the region home include American Family Insurance, Colony Brands, American Girl, Lands’ End and Epic Systems, which develops medical record software applications, and Hy Cite, a MadREP partner and family-owned business launched in Madison in 1959, which offers product development and distribution, financing, marketing and customer service to distributors and customers of its well-known cookware brands. Today, it has 10 corporate offices located in the United States, Mexico, Brazil, Colombia, Peru and Argentina.

“We’ve been able to access a very strong labor pool of very bright, educated people, and that’s been really positive for us,” says Erik Johnson, CEO of Hy Cite. “I think also just the whole climate of Madison is about reinventing yourself and learning, with the university here, so that’s also been very positive for us to be part of that environment.”

In addition to being part of the Madison environment, Johnson works to continually foster a diverse, welcoming atmosphere for his employees.

“We talk about diversity as far as different ethnic groups as well as being involved in the community, wellness programs, and trying to make sure we have diversity within the workplace in activities,” he says. “We consider ourselves one of the most diverse workplaces within Dane County. I think we’re over 70% diverse within the organization, and we’re really proud of that.”

Four Things You Need to Know This Week
People 65 and older eligible for COVID-19 vaccine

People 65 and older in Wisconsin will be eligible for the COVID-19 vaccine starting Monday, the state Department of Health Services said Tuesday, as a portion of the general public gets its first chance for protection against the pandemic that...

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madison.com
LÜM's Music Marketplace Creates Lucrative Revenue Streams

With COVID-19 significantly limiting artists' ability to make money, the launch of The Exchange demonstrates the company’s commitment to providing artists pathways to profitability from peers - as well as fans. Dubbed as the “Shopify” for musicians..

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lum.fm
gBETA Social Impact

A free, seven-week pre-accelerator designed to support up and coming education entrepreneurs. The program runs from March 4 to April 23 and provides introductions to mentors and investors. Applications close on February 11th.

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www.gbetasocialimpact.com
60,000 Paycheck Protection Program Loans Approved

The SBA announced that it has approved approximately 60,000 PPP loan applications submitted by nearly 3,000 lenders, for over $5 billion, between the program’s re-opening on Monday, Jan. 11 through Sunday, Jan. 17. The PPP dedicated access...

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www.sba.gov
Reopening & Recovery Resources
Paycheck Protection Program resumed January 11, 2021

At least $25 billion is being set aside for Second Draw PPP Loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low or moderate income neighborhoods.

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www.sba.gov
WEDC Reopening Guidelines

The future will require the gradual adoption of new business practices that reflect the evolving reality of the COVID-19...

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wedc.org
Return to Work

Businesses must show they are prepared to keep employees, customers and other guests safe.

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www.youtube.com
Greater Madison Chamber Slido

Join the Conversation! Please ask questions related to COVID-19 and business here.

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app.sli.do
MadREP Partner Spotlight
Support from partners like these make our work possible. Want to get involved? Email jmoore@madisonregion.org