Paul Jadin: Madison region well positioned to lead state’s economic recovery (madison.com)

Paul Jadin makes a good case as to how and why the Madison area will play a key role in the development of the State economy moving forward.

Read the full article at: http://host.madison.com/wsj/news/opinion/column/guest/paul-jadin-madison-region-well-positioned-to-lead-state-s/article_faea5016-764c-5420-a408-b45354ee5859.html

Blogger's Note: High growth industries, supported by manufacturing, a competive workforce, and an opportunity in growing our exports.  Sounds like a very good case for making our mark on Wisconsin's economic future.

Paul Jadin Talks Regional Cooperation (Sun Prairie Star)

(Photo by Jake Kurtz)

Previously known as Thrive, the Madison Region Economic Partnership (or MadREP) today works to foster a strong economic climate for Columbia, Dane, Dodge, Green, Iowa, Jefferson, Rock and Sauk counties.

Read the full article at: http://www.hngnews.com/sun_prairie_star/news/regional/article_be48ad3e-1563-11e3-a826-0019bb30f31a.html

Blogger's Note: There is a lot of work to be done, but under Paul's leadership there is a new focus on getting real projects done and a strong desire for real results in terms of new jobs and new investment. 

Regional Economic Development Group Thrive Rebrands (Madison.com)

 

Thrive, the eight-county economic development group for south-central Wisconsin, is now known as the Madison Region Economic Partnership. 

Click here to read more at: http://host.madison.com/wsj/business/regional-economic-development-group-thrive-rebrands/article_8d86e671-d948-596f-a831-398d74609187.html

Blogger's note: While this may seem to be somewhat of an oversimplification, it communicates where we are, what our purpose is, and also aligns itself with the Statewide In Wisconsin campaign.  A smart move.

Thrive Identifies Target Clusters for Growth Opportunities (Madison.com)

Thrive Identifies Target Clusters for Growth Opportunities

Legacy targets are transitioning sectors with historical influence and "next generation" potential:
Advanced Manufacturing; and Agriculture and Food Systems.

Leading targets are mature sectors with strong opportunities for growth: Health Care; and Life Sciences.

Emerging targets are sectors with the potential to create further economic opportunities: Design and Technology (technology and software; design and communications; direct-to-consumer and specialty retail).

In addition, Travel and Experience was identified as an opportunity area, rather than a formal target.

Link to Full Article: http://host.madison.com/wsj/business/thrive-identifies-target-clusters-for-growth-opportunities/article_d8704d40-2a94-11e1-877c-001871e3ce6c.html

Blogger's Note: See how these compare with the target sectors the City identified in its 2008 Strategic Business Development Plan: http://www.cityofsunprairie.com/admin/images/3df9393303.pdf

Community Leaders Prioritize Competitive Assessment Findings in Advance Now Initiative (THRIVE)

Community Leaders Prioritize Competitive Assessment Findings

Market Street Services, the consultant being retained by THRIVE, has completed their Phase I Competitive Assessment for the Madison Region.  The following are based on survey responses and available economic and statistical data on the region's economy.

Key findings include:

• Population growth remains strong, but trails peers.
• Net migration into the Madison Region is limited geographically.
• The regional workforce pipeline is strong, but some segments are more
  secure than others.
• Minority populations are growing rapidly, but still represent very small shares
  of the regional population.
• Educational attainment is exceptional and increasing.
• Per capita income is below the national average and growing slower than
  peers.
• Socioeconomic disparities within the Madison Region are dramatic.
• Poverty is low, but growing faster than most peer regions.
• School performance and achievement is uneven across the region and
  between socioeconomic groups.
• Regional confidence in K–12 education is strong.
• Regional employment reached its lowest point in February 2010.
• Not all sectors fared poorly during the Great Recession.
• Confidence in the labor market remains high.
• Wages are growing but still lag peer and national averages.
• Economic diversification will be critical to long-term prosperity.
• Wages have grown in all sectors, but are below the national averages.
• The older workforce is spread out among many sectors.
• National rankings show middle-of-the-road business climate.
• The number of regional businesses has dropped.
• Access to capital for entrepreneurs is difficult.
• Regional small businesses have shown anemic or negative growth.
• Innovation in the region is dominated by the University of Wisconsin–
  Madison, which outpaces all competitor regions’ research universities.
• Cost of living – especially health care – is high.
• However, health care access is extensive and quality is world-class.
• The Madison metro’s housing prices are the highest and fastest-growing in
  the region.
• The Madison Region is served by extensive infrastructure networks, but some
  still lag in competitiveness.
• Although public transportation is relatively pricey, coverage in the urban core
  is good and regional residents can also employ other alternative means of
  commuting.
• Implications for environmental hazards and remediation in Dane County.
• Quality of place amenities for residents are excellent, but tourism capacity
  and access to these is weak.
• Civic capacity is robust.

Madison Region's Greatest Strengths (Survey)

1 University of Wisconsin-Madison
2 People
3 Schools/education
4 Environment/natural beauty
5 Diversity
6 Arts/culture
7 Lakes
8 Quality of life
9 Workforce and work ethic
10 Progressive/liberal

Madison Region's Weaknesses and Challenges

1 Economic climate/jobs/unemployment
2 Divisive politics
3 State/Governor
T4 Cost of Living
T4 Taxes
6 Segregation/lack of diversity
7 Poverty
8 Transportation/connectivity
9 Crime
10 Conflicting attitudes about growth/development

Link to THRIVE News Release: http://advancenow.thrivehere.org/news/21/read-article/

Link to Executive Summary of the Report: http://advancenow.thrivehere.org/assets/files/163631_CompetitiveAssessment_ExecutiveSummary.pdf

Link to Full Report: http://advancenow.thrivehere.org/assets/files/150230_CompetitiveAssessment_FullReport.pdf

Blogger's Note: Short version...I think sooner we realize that the rest of the world does not think we are as great here in this region as we do, the faster we'll make progress here. The cost of living/doing business in Madison, politics and overall business climate in Madison seems to be the primary issues holding us back. Personally, I also see there is often a significant difference of opinion on economic development between Madison and the rest of Dane County, and between Dane County and the rest of the region. The needs differ across the region, as do the best solutions for local economies.  The biggest issues on this list in my opinion are:

• Lagging population growth rates compared to peers.
• Increasing poverty rates, lagging wage rates, and and increasing cost of living.
• Attraction and retainage of skilled workforce.
• Unbalanced migration patterns. 
• Lack of diversity in the regional economy.
• Decreasing number of businesses and employers.
• Regional infrastructure related issues.

Now, these need to have specific actionable recommendations associated with them, and resources allocated for implementation efforts once identified and evaluated.
. 

Austin Joins Thrive to Help Drive Advance Now Project (Madison.com)

Austin Joins Thrive to Help Drive Advance Now Project

Link to Full Article: http://host.madison.com/business/article_3aa6f87e-e88c-11e0-bdcc-001cc4c002e0.html 

Click here for more information on the Advance Now Project.

Click here to take the Public Input Survey for Advance Now.   
(The survey ends Oct. 11th, 2011.)

Blogger's Note: We need this effort to gain some traction and some effective changes need to come out of this project.  Hopefully this effort will help communities better understand their own assets as a part of the greater region, utilize regional assets as a marketing tool, and begin to position ourselves with how the State of Wisconsin ends up presenting itself as a place to do business.  Quality of life will always be important, but the focus needs to stay on growing our local and regional economy. Of course, making this about the Madison region and not just Madison is always a challenge.

Update: Thrive launches eight-month strategy for Advance Now (Sun Prairie Star)
http://www.sunprairiestar.com/main.asp?SectionID=2&SubSectionID=22&ArticleID=8531&TM=66117.88

Advance Now Seeks to Unify Area Economic Development (Sun Prairie Star)

Advance Now Seeks to Unify Area Economic Development

Link to Full Article: http://www.sunprairiestar.com/main.asp?SectionID=2&SubSectionID=52&ArticleID=8120

Blogger's Note: This should be a great asset to all communities in the Madison region...at least for those who actively participate.

Thrive Named Top Economic Development Agency at 2011 Best of Wisconsin Business Awards (Various)

Thrive announced that they have been recognized by Corporate Report Wisconsin as the Best Economic Development Agency at the 2011 Best of Wisconsin Business Awards on June 10th, 2011.

Click here for a full list of finalists in all categories in Corporate Report Wisconsin.

Click here to follow Thrive on Facebook.

Blogger's note: Congratulations to Sean and his team. Looking forward to additional progress and successes in promoting the Madison Region as a place to do business.

Thrive Announces Advance Now Strategic Initiative (Thrivehere.org)

Advance Now is a comprehensive, action-oriented regional economic development strategy that will systematically move the Madison Region’s economy forward. The eight-month process will engage public- and private-sector leaders to define a shared vision for sustained economic growth. The project will culminate in a detailed implementation plan that includes tangible performance metrics, capacity assessments, and one-to-five year action plans.

Click here for a full description of the Advance Now initiative.

Thrive's Online Capital Connections Inventory Now Searchable (Thirve)

We recognize that financial capital is crucial to business development, but can be all too difficult to find and obtain. That's why we’ve created the Capital Connections Inventory, a comprehensive database of financial tools available in the Madison Region. Its now even easier to find funding opportunities for your business, nonprofit, or community. Check out our new searchable online Capital Connections Inventory with 300+ financial programs available at the federal, state, and local levels.

Click here to view Thrive's Capital Connections inventory.

Thrive Announces New Website (Thrive)

With a completely re-imagined design and navigation, our new website was built with you in mind. We've included robust business tools, success stories of local companies, useful data and demographics, and much more.

Stay tuned for the launch of our fully searchable and integrated online Capital Connections Inventory. It's coming soon!

We invite you to take a look around. And as we continue to improve and build upon this site, we welcome any feedback you might have. Thanks for visiting thrivehere.org!

Sun Prairie Hosts Regional Economic Development Professionals Meeting (City of Sun Prairie Office of Economic Development)

Economic Development professionals from the 8 county THRIVE region met at Wisconsin Distributors in the Sun Prairie Business Park on March 24th for their first meeting of 2011. Hosts were Neil Stechschulte, Economic Development Director for the City of Sun Prairie and Shane McPeak, Human Resources Director for Wisconsin Distributors. Mr. McPeak provided a brief overview of Wisconsin Distributors' operations in Wisconsin. Mr. Stechschulte gave a brief presentation on economic development activities in Sun Prairie.

Special guest for this meeting was Mr. Larry Schwenn from Wisconsin Business Development Inc., who came and presented on their 504 loan program, as well as some other forms of assistance that WBD can provide.

THRIVE's Brad Elmer also provided an overview of their pursuit of Economic Development District status and the creation of the EDA required Comprehensive Economic Development Strategy planning document.

Betsy Lundgren of THRIVE provided a sneak peak at the proposed updated to THRIVE's website, which will feature images and testimonials from area companies that help showcase successful companies doing business in the Madison region. It will also feature direct links to the Capital Connections Inventory, the Located in Wisconsin buildings and sites database, and the region's retention program called Business Link.

THRIVE's Jenn Post Tyler then facilitated an open forum for attendees to provide general project updates for anyone who had something to share.

The group meets quarterly to share information and to network. The next meeting is tentatively set for June 2011.

Sun Prairie Participates in THRIVE Training Session on Synchronist and Zoom Prospector (City of Sun Prairie Office of Economic Development)

City Planner Tim Semman and Economic Development Director Neil Stechschulte attended a training session facilitated by THRIVE on two new economic development tools being deployed for communities in the region. Other participating communities included the City of Madison, the City of Middleton, the Village of Waunakee, the Village of Oregon Chamber of Commerce, Dane County, Columbia County, Iowa County, Jefferson County, Sauk County, the Wisconsin Department of Commerce, and Madison Gas & Electric.

The morning session was on the Synchronist Business Information System, a web-based software tool used to manage business retention and expansion programs. The presenter was Mr. Eric Canada from Blane, Canada Ltd.

The Synchronist Business Information System® bundles advanced business retention strategies, sophisticated interview design, assistance tracking/service delivery management, competitive intelligence, intranet and database technology (software), BR|E resource library, and a community of committed users all working together to maximize the value of their BR|E investment.

The Synchronist System’s on-line software (Intranet) provides the information organization, management, analysis, and reporting tools needed to:

- Identify expansion opportunities, companies at risk, as well as company and community problems.

- Build relationships and insure service delivery to existing businesses.

- Free the economic developer from the back room to maximize time meeting with business executives.

The Synchronist System provides insight and documentation to impact decision-making and resource allocation within the organization, partner organizations, and the community.

THRIVE, along with MG&E and Alliant Energy have purchased a regional software license that allows any community in the region to utilize the software, upload survey data, and create a variety of reports on their local employers. All data collected is strictly confidential, and is available only to the specific communities who upload the information.

For more information on the Synchronist Business Information System, visit Blane, Canada on their website at: http://www.blanecanada.com/product_synchronist.html.

Communities interested in participating should contact their local economic development professional, or Brad Elmer, Project Director for THRIVE at belmer@thrivehere.org or 608-443-1967.

The afternoon training session was on the soon to be released online buildings and properties database system that will be unveiled later this month for the State of Wisconsin.

The Wisconsin Economic Development Association and the State of Wisconsin Department of Commerce have selected ZoomProspector, a product of GIS Planning, Inc., to provide a one-stop shop for all sites and buildings data throughout the State of Wisconsin. Data is provided through partnerships with Xceligent, Property Drive, and Wisconsin Commercial Information Exchange (WCIE), powered by Catalyst, so that accurate and up-to-date information is available about opportunities in Wisconsin. This reputable, unbiased database is nonprofit and is maintained by brokers and real estate professionals, in partnership with local economic development specialists, ensuring a wide range of available sites and buildings.

This project was also made possible in part by Alliant Energy, Dairyland Power Cooperative, Madison Gas & Electric Company, We Energies, Wisconsin Public Service Corporation, WPPI Energy, Xcel Energy - Northern States Power Company and American Transmission Company.

For additional information on Zoom Prospector, go to the GIS Planning, Inc. website at: http://www.gisplanning.com/zoomprospector-com.html.

To learn more about the upcoming release of this tool in Wisconsin, contact the Wisconsin Economic Development Association at 608.255.5666 or at weda@weda.org.