WEDA

Information you can use:

Drive: The Truth About What Motivates Us... Amazing Youtube short by Daniel Pink demonstrates that when jobs require cognitive skills, pay incentives alone lead to lower performance.

Broad band and Economic Development:  “After the Stimulus: Broadband and Economic Development”, by IEDC. There are numerous WI community case studies on broadband from UW-Extension. FCC study says 664,000 Wisconsinites don’t have access to broadband.

BMO Capital Markets Economics “State Monitor Report” has modest good news that the Wisconsin economy is expanding at a moderate pace, as manufacturing has regained almost half the jobs lost since the start of the recession, while agriculture output is on pace for another solid year.

Economic Development Finance News:

“Tax Credits are More Efficient than Cash Grants” to achieve social purposes. The Novogradac Journal of Tax Credits reports on a set of analyses that compares the efficiency of NMTCs, LIHTCs, RETCs, and HTCs to cash grant programs.

Two-thirds of companies met hiring goals “About 60 percent of Wisconsin businesses that completed tax credit programs tied to job creation during the past five years actually hired as many people as they expected, according to a Wausau Daily Herald analysis of state data.”

A Duration Analysis of TIF District Lifespan in Wisconsin This report from the Lincoln Institute of Land Policy analyzes the duration of TIF districts created during recessions.  Findings indicate that recessions can significantly increase the life of a TIF district.

Do you have any major data, policy information how-to-do needs?  If you do, please contact WEDI, maybe we can help.

Information you can use:

Preparing a multi-state prospect proposal?Forward Wisconsin’smulti-state cost comparison site continues to be enhanced by WEDI for 2011. Four new states are being added. A total of fourteen states can be compared and a PDF report generated.

Survey of Local Economic Development Organizations completed jointly by WEDI and UW-Extension, this study replicates one done in 2002-’03. The survey was designed to help describe and quantify the amount of economic development effort at the local level in the state. The survey looked at budgets, funding sources, staffing, salaries, and more.

WORKnet’s Employer Search (under Job Seeker) can help businesses identify their potential competition within a specified geography. Conducting a search by industry will display a listing of employers who fall within the requested parameters. This partnership also brings more detailed information to each and every employer profile, such as year established, ownership type and annual sales.

CDFA’s National Volume Cap Map features volume cap data, which is updated through 2010 and made available through an interactive map that allows users to view private-activity bond usage nationwide data on a state-by-state basis.

Economic Development News:

Wisconsin Top State for Forestry Industry Jobs and ProductsIn our rush to be modern, we sometimes overlook opportunity. Wisconsin has been and continues to be an important forest products producer. According to the American Forest & Paper Association’s June report, Wisconsin is number one among states in forestry jobs employing 56,533 workers, and in economic value of wood and paper products shipped at a combined total of $16,201,241,000.

Do you have any major data, policy information how-to-do needs? If you do, please contact WEDI, maybe we can help.

Information you can use:

Preparing a multi-state prospect proposal? Forward Wisconsin’s multi-state cost comparison site is updated by WEDI for 2011, and three new states have been added. A total of ten states can be compared and a report generated. Information Fact Sheets on “Utility Costs”, “Incentives” and most others are also current.

Free Map Tools Also useful for preparing proposals and reports, these quick tools can find zip codes within a radius, distances between points, plot radii and calculate an area you enclose on a map.

Food for Thought Spurring Job Growth Through Greater Investment “Many financing programs are not cost-effective for those with borrowing needs under $35,000, which is a significant problem for small businesses.” Ideas are presented on how to bridge the gap.

Economic Development News:

ManpowerGroup Annual Survey Shows More than Half of U.S. Employers Cannot Find the Right Talent for Open Positions. Heading the list is “Skilled Trades.” Consequently, labor availability can’t be taken for granted and needs to be managed just like any other strategic raw material.

Focusing on labor, the Fourth Economy suggests “Four Winning Tips for Attracting Investment“. Two of which are “Housing” and “Education.”

Economic Opportunity Wisconsin small business owners feel more confident about the state’s economy than the national economy, according to results of the 2011 U.S. Bank Small Business Survey.

Site Selector Guild formed. A group of well-known site selectors has formed a guild. Their mission is to advance the profession of international corporate site selection by promoting the profession, providing education, networking and other services to those involved in the site selection industry.

Do you have any major data, policy information how-to-do needs? If you do, please contact WEDI, maybe we can help.

Information you can use:

The new and expanded 2011 edition of the WI Banker Association’s Economic Development Manual is available. Written from the viewpoint of a commercial lender, the manual is designed to provide assistance to Wisconsin bankers and economic development professionals by identifying appropriate Wisconsin finance programs for their project(s). The Manual is $80 plus S&H.

The new Federal Financing Reference Guide , also newly available, is the most comprehensive resource available for assessing federal economic development financing programs. This guide gives an overview of over 170 federal economic development financing programs from 16 agencies and includes agency information, program descriptions, and application details, among other helpful information. The Guide is available from the Council of Development Finance Agencies. Non-Member Price: $175.00. See their bookstore for other finance manuals and guides.

Forward Wisconsin’s multi-state cost comparison site is updated by WEDI for 2011 and three new states have been added. A total of ten states can be compared and a report generated.

Economic Development News:

CNBC has released its annual business competitiveness rankings using economic development criteria. Wisconsin is ranked 29th.

Wisconsin has the fourth-lowest state and local tax burden for business expansion in the nation, according to a new study. To gain access to the full report, click here. The study, “Competitiveness of State and Local Business Taxes on New Investment,” was compiled by the Quantitative Economics and Statistics Practice (QUEST) of Ernst & Young LLP in conjunction with the Council On State Taxation (COST).

Do you have any major data, policy information how-to-do needs? If you do, please contact WEDI, maybe we can help.

Information you can use:

The Role of Local Elected Officials in Economic Development: 10 Things You Should Know
“Economic developers will find this publication a valuable tool in building their relationships with their local elected officials.” The publication was produced by the National League of Cities Center for Research and Innovation and the International Economic Development Council.

Economic Development Council.EDA Releases Initial FY 2011 Federal Funding Opportunity
The Economic Development Administration has released this announcement for FY 2011 funding opportunities for the EDA’s Economic Development Assistance Programs.

FTC Updates Green Guides to Environmentally Friendly Marketing
Michael Best & Friedrich recently summarized the new Federal Trade Commission (FTC) “Guides for the Use of Environmental Marketing Claims,” commonly known as the Green Guides. It provides standards for the claims that everyone is green these days, as used in promotional materials.

 Economic Development News: 

• Start-up and companies with high-growth potential based in Wisconsin have attracted more angel and venture capital in the first nine months of 2010 than the totals of 2008 and 2009, according to a new report released by the Wisconsin Angel Network. The “2010 Wisconsin Portfolio” tracks early state investment.
   
• The Cultural Alliance of Greater Milwaukee recently announced initial findings about Southeastern Wisconsin’s creative industries. According to the findings, there are 67,000 people employed in the creative sector in the southeastern Wisconsin region making up more than $2 billion in wages. The study also indicated that nearly 46 percent of the creative professionals in the region are involved in the design industry. A full report of their findings will be available by the end of 2010.

Do you have any major data, policy information how-to-do needs?  If you do, please contact WEDI, maybe we can help.

Important notice (notify your constituents):

Small nonprofit organizations are at risk of losing their tax-exempt status if they failed to file required returns for 2007, 2008 and 2009.  They can preserve their status by filing returns by Oct. 15, 2010, under a one-time relief program, the Internal Revenue Service (IRS) has announced.

Small mom-and-pop organizations, such as local sports boosters, clubs, neighborhood associations, historical societies and other organizations without professional accountants are probably most affected.

See:  IRS Press Release and List of Organizations by state that haven’t filed (list may be incomplete).

Finance Information you can use:

Pepperdine University has produced “research to understand the true cost of private capital.”  “Findings indicate that required returns on new investments vary significantly by capital type and risk assumed, with senior lenders requiring 6.8%, asset-based lenders demanding 13%, mezzanine funds expecting 18.5%, private equity groups expecting 25%, and venture capital funds expecting 38.2%.”

The National Renewable Energy Laboratory has produced a paper that describes the basics of how a revolving loan fund (RLF) works and how to setup a revolving loan fund for energy efficiency projects. The model can be used for any RLF.

Earlier this year HUD released its estimates of fiscal year 2010 median family income estimates for all counties and metropolitan statistical areas (MSAs) in the United States. 

For comparison purposes, the incomes for the three largest metro areas and for non-metro Wisconsin are: Milwaukee MSA:  $71,100: Madison MSA:  $80,000: Green Bay MSA:  $65,900 and non-metro Wisconsin:  $58,600.

Other Information you can use:

The Public Service Commission (PSC) has released the initial version of Wisconsin’s high-speed Internet (broadband) map as LinkWISCONSIN.
Do you have any major data, policy information how-to-do needs?  If you do, please contact WEDI, maybe we can help.

 
Information You Can Use:

Tourism in Wisconsin Slows

A complete list of County by County 2009 Economic Impact of Expenditure by Travelers in Wisconsin was recently released by Wisconsin Tourism. A cursory check of the data shows that virtually all counties experienced a decline in activity from 2008 to 2009.

A Relatively Unknown Major Industry in Wisconsin

In a national study (State Economic Impact of the Medical Technology Industry) released on June 9th, the Advanced Medical Technology Association (AdvaMed) says the medical technology industry (MTI) is a strong and vibrant contributor to the U.S. and WI economies. Wisconsin is ranked 10th as a state with large MTI-related employment (an estimated 14,400 MTI jobs support an additional 41,400 MTI-related jobs). According to the study, a MTI worker in Wisconsin had an average earning of $62,383 in 2007, compared to the state-wide earnings of $37,293.

“Bein‘ Green“

This is more than Kermit’s song. Site Selection Magazine’s  first annual Sustainability Rankings place Wisconsin in the top ten among states. The magazine’s July edition ranked Wisconsin ninth under a set of sustainability criteria, which included the number of private sector “green energy” projects, the number of Leadership in Energy and Environmental Design (LEED)-certified buildings; per capita renewable energy generation; and green incentives for businesses.

How Do You Compare?

Metro areas in Wisconsin have a new economic performance benchmark. Great Lakes Monitor: Tracking Economic Recession and Recovery in the 21 Largest Metropolitan Areas of the Great Lakes Region created by the Brookings Institution’s Great Lakes Economic Initiative examines the 21 largest metros in the region, looking closely at how they compare relative both to each other and to their peers across the nation.

Do you have any major data, policy information how-to-do needs?  If you do, please contact WEDI, maybe we can help.

Information you can use:

• Quickly find out how your area currently stacks up to the rest of Wisconsin by viewing a map of county unemployment rates, from the Department of Workforce Development (DWD).
• “Internet, broadband, and cell phone statistics” from the Pew Charitable Trusts were compiled at the end of 2009.  According to the report, 74% of Americans use the internet and 55% use it wirelessly.
• Small Business Survival Index 2009: Ranking the Policy Environment for Entrepreneurship Across the Nation This report by the Small Business & Entrepreneurship Council examines and rates the policies pertaining to small business and entrepreneurship in each state for 2009.  Wisconsin comes in the bottom half as the 30th most-friendly environment for small business.
• Now available, “YourEconomy”, developed by the Edward Lowe Foundation, is a free research tool that enables visitors to take a closer look at business activity in their local communities and across the United States, using Dun & Bradstreet data.
• It works! Simply by selecting colors, your business aptitudes can be uncovered. Color Me CEO? Test Shows How Bosses Are Wired
• Under the Community Facility Loan Program, USDA Rural Development has $25.5 million in Wisconsin to assist communities by funding local foods initiatives and projects.
• Downtowns and neighborhood shopping districts are more than simply places to do business. Learn about the importance of locally owned small businesses to the economy and how to rebuild these business districts by making these businesses more profitable. Coming up from the Building Communities Webinar Series at the Center for Community Economic Development (CCED), on April 20, 2010 – Rebuilding Downtown and Niche Small Businesses.