WEDA Wire – June 12, 2024

Greetings. WEDA Family… Who else loves summer in Wisconsin? It’s finally here, and I hope you and your loved ones are ready to make every moment count. This season let’s focus on creating memorable experiences that will last a lifetime, whether they happen right here in Wisconsin or beyond.

Summer also marks the beginning of nomination season for the 2024 Community and Economic Development Awards (CEDA). We encourage you to nominate projects, initiatives, and efforts that enhance your hometown’s quality of life, growth, and prosperity. Categories include Business Retention and Expansion, Community Impact, Real Estate Redevelopment, and Talent. CEDA is your chance to celebrate the exemplary contributions of individuals, communities, and businesses driving economic growth in Wisconsin. Nominations will open soon, so stay tuned…

I’d like to take a moment to congratulate and thank Suzanne Zwaska, a long-time WEDA board director, on her retirement. Suzanne, your dedication to WEDA’s vision of making Wisconsin a better place to live and work has been invaluable. With strong financial support from Keystone Sponsor US Bank, Suzanne has been instrumental in advancing Diversity, Equity, Inclusion, and Belonging within the Association. Thank you, Suzanne, for enhancing our Academy, Conferences, and Basic Economic Development Course over the years.

With Suzanne’s retirement, we are pleased to welcome Coleman Peiffer of Alliant Energy to the WEDA board. Coleman, we are excited about the passion, leadership, and knowledge you will bring to our Association.

In other news, the Fall Best Practices Conference planning and production committee is wrapping up its work – and is even looking for musicians to join our house band during the conference reception. If you want to perform, see Join the Jam Session information here and contact Travis Peterson to learn more. Mark your calendars for September 25-27 and join us at the Lismore Hotel in beautiful downtown Eau Claire!

Planning for the 2025 WEDA Governor’s Conference is also about to begin. As a member-driven organization, we value your input! If you’re interested in serving on the planning and production team, please let us know. Look for the session RFP coming out this fall.

Have a safe and happy summer!

By WEDC Secretary and CEO Missy Hughes

Two major developments this spring demonstrate that the Wisconsin Idea—the belief that business, educational, and state leaders should work together to find new ways to improve people’s lives—as relevant as ever in building an economy where every Wisconsinite has the opportunity to thrive.

In early May, President Biden and Microsoft CEO Brad Smith announced the company’s decision to triple its planned investment in the company’s Mount Pleasant data center to a total of $3.3 billion. The project is expected to employ more than 2,000 construction workers while it is being built and 2,000 full-time data center workers when the facility is up and running.

That was the big news, and it’s more proof that Wisconsin’s growing momentum is drawing the attention of blue-chip, global businesses.

But another piece of Microsoft’s commitment to Wisconsin may prove even more important to ensuring Wisconsin’s long-term economic success: The company is establishing a Co-Innovation Center at the University of Wisconsin-Milwaukee.

Aided in part by a grant from WEDC, the new Co-Innovation Center will operate out of UWM’s Connected Systems Institute, which already helps businesses apply new technologies to increase their productivity.

Microsoft has just six of these Co-Innovation Centers worldwide, with only two in the U.S., and Milwaukee’s will be the first to focus exclusively on manufacturing. The company’s aim is to help small and midsize businesses—which make up the bulk of Wisconsin’s manufacturing base—access the latest advances in artificial intelligence (AI) and other technologies that might otherwise be out of their reach.

This creates huge growth opportunities for not just the companies but also their workers, who will be performing higher-value jobs while turning over more routine tasks to AI. If Wisconsin and other states are going to meet their ongoing workforce needs, one of the solutions will most likely involve investing in technology that raises productivity while empowering employees.

The other major development bringing the Wisconsin Idea to life was the launch of the Wisconsin Investment Fund, which will invest in early-stage Wisconsin-based startups. The fund’s initial investment is $100 million, with half coming from the U.S. Department of the Treasury’s State Small Business Credit Initiative program and the rest from private investors.

As Governor Evers noted, the Wisconsin Investment Fund will be the biggest public-private investment in Wisconsin startups and entrepreneurs in our state’s history.  But that’s just the beginning: As the businesses that receive these investments start to grow, the value of the fund will grow with them, creating new opportunities to help even more businesses expand.

More than half of the fund’s initial investments will go to startups in the field of biohealth and biotechnology, a sector where our state’s lead has been recognized as a Regional Technology Hub by the U.S. Department of Commerce. And, in keeping with the best traditions of the Wisconsin Idea, many of these firms began with research conducted at the University of Wisconsin.

Missy Hughes is the secretary and CEO of the Wisconsin Economic Development Corporation, the state’s leading economic development organization.

The WEDA CRA Network Bankers Roundtable is coming back to Wausau!

Are you an economic developer interested in learning more about CDFIs? If you have projects located in underserved markets, you’ll want to learn more. Banks, bank holding companies, credit unions, venture capital funds, and other funders with community development missions will participate. There is no charge to attend but registration is required. To RSVP, please email weda@weda.org with your name, title, affiliation, and email address by Wednesday, June 19, 2024.

The FDIC, OCC, and WEDA are co-hosting a roundtable discussion aimed at exploring partnerships with Community Development Financial Institutions (CDFIs) serving Wisconsin. To make projects in low- and moderate-income communities happen, CDFIs often rely on low-cost loans, grants, equity equivalent investments, and government funding. Banker’s looking to serve low- and moderate-income communities find CDFIs great community partners. The roundtable will focus on understanding how to get involved at a CDFI, when to make referrals or increase your familiarity with the CDFI lending products and services. We will focus on success stories and tools that support decision-making for bank investments.

The panelists for the event include:

• Ryan Zerwer, President and CEO of Forward Community Investments
• Mandy Bowe, Vice President of Community Assets for People, LLC (CAfP)
• Cathryn E. Burgmeier, Senior Compliance Examiner at FDIC

Event Details:

• WHAT: WEDA CRA Network Bankers Roundtables: CRA CDFI Workshop
• WHEN: June 26, 2024, 10:30 a.m. to 1:00 p.m. 
• WHERE: Marathon County Development Corporation Entrepreneur and Education Center – 100 N 72nd Ave, Wausau
• LUNCH: This no-cost event will offer a networking lunch for our guests.
• REGISTRATION: Registration is being handled by the FDIC. To RSVP, please email weda@weda.org with your name, title, affiliation, and email address by Wednesday, June 19, 2024.

The Wisconsin Economic Development Association (WEDA) recently presented state Rep. Dave Armstrong (R-Rice Lake) with the organization’s Legislator of the Year award for his exceptional leadership on policy initiatives to drive economic growth and prosperity in Wisconsin during the 2023-24 Wisconsin legislative session. The award was presented to Rep. Armstrong at a community event in Rice Lake, WI.

“Rep. Armstrong remains an incredibly strong voice for economic development in Madison, advocating for policies and programs that encourage economic growth in his local communities and across Wisconsin,” said Michael Welsh, WEDA V.P. of Legislative Affairs. “His work and leadership during the 2023-24 legislative session on key initiatives to address the state’s workforce shortage crisis, lack of affordable housing, and childcare access concerns will provide new opportunities for growth and prosperity for Wisconsin businesses and families.”

Armstrong earned WEDA’s Legislator of the Year award for his efforts in the Assembly on a wide range of legislation to advance the Wisconsin economy, including several bills passed into law to encourage the development of much-needed workforce housing, successful legislation to promote business expansion and investment into Wisconsin, and several proposals to provide communities with the policy tools to drive local economic growth and prosperity.

“I was surprised to receive this unexpected honor. I value working with an organization like WEDA that is dedicated to growing business, communities, and families in Wisconsin,” said Armstrong. “I look forward to continuing this work with them next session.”

Armstrong, who was first elected to the Assembly 2020, currently serves as Chairman of the Assembly Rural Development Committee, and sits on several other key committees, including the Jobs and the Economy Committee, the Workforce Development Committee, and the Housing Committee. He is also a member of the Wisconsin Economic Development Corporation Board of Directors. Dave currently represents the 75^th Assembly District, which includes Barron and Washburn Counties. Due to legislative redistricting, he will be running for reelection this fall in the 67^th Assembly District. The district stretches from Rice Lake south into Dunn and Chippewa Counties.

WEDA Advocacy Helps Strengthen Wisconsin’s Economic Development Toolbox 

While the Wisconsin State Legislature finished most of its business for the 2023-24 legislative session by early March of this year, the session did not officially conclude until last week when lawmakers met in a limited veto-review session. Unless legislators convene for a special or extraordinary session, the Legislature will not meet again until 2025.

With the session concluded and election season gearing up, WEDA is taking this opportunity to provide members with a 2023-24 Legislative Session Wrap-Up Report that outlines WEDA’s key legislative successes. From passage of the Business Development Tax Credit Modernization Act and several workforce housing development initiatives to preservation of the Manufacturing and Agriculture Tax Credit, WEDA played a pivotal role in advancing important economic development policies and programs during the session.

Rest assured, WEDA’s success would not have been possible without the engagement of members, many of whom took time away from their busy day jobs to contact their lawmakers on critical legislative issues, attend WEDA’s Legislative Days, or come to Madison to testify on key economic development bills. It was truly and team effort, and it was exciting to witness WEDA flex its advocacy muscle.

While the 2023-24 Legislative Session Wrap-Up Report touches only on our top legislative successes, WEDA lobbied on numerous legislative and budget proposals, a handful of which were ultimately signed into law. Please CLICK HERE to review all of the legislative proposals and issues WEDA lobbied on during the 2023-24 session.

Of course, WEDA is always looking forward, and that certainly applies to our advocacy efforts. We are currently working on the development of the 2025-26 WEDA Legislative Agenda, which will outline our policy priorities for the next legislative session. Please watch your inbox for a WEDA Membership Survey seeking your input on the development of our Legislative Agenda. As economic professionals and experts “fighting the good fight” in your communities, your feedback will be critical.

WE NEED YOUR INPUT:  Help shape the 2025-26 WEDA Legislative Agenda

The voice of WEDA members is crucial in the development of our 2025-26 Legislative Agenda that will map out our policy priorities that advance economic development. One of the most effective ways you can provide your input on WEDA legislative initiatives for the upcoming 2025-26 legislative session is to fill out and submit the WEDA Member Legislative Priorities Survey.

The survey serves as a vital tool for gathering expert member feedback on critical legislative issues, understanding the needs of the economic development community, and ultimately influencing the legislative process. Your input and perspective on policies that impact economic development will help lawmakers better understand the challenges your communities face.

Please take a few minutes to complete and submit the survey to help WEDA develop our 2025-26 Legislative Agenda and drive economic prosperity across Wisconsin.

Check out the latest job opportunities in the economic development field on the WEDA Job Board:

• Vice President of Global Trade and Investment – Wisconsin Economic Development Corporation
• Loan Assistance and Loan Specialist Positions – USDA Rural Development 
• Greater Dunn County Director of Economic Development – University of Wisconsin-Stout
• Community Development Director – City of Marshfield
• Development Director – City of Wauwatosa
• Real Estate Development Specialist 1 or 2 – City of Madison

Please CLICK HERE to view job descriptions.