MadREP Report: July 26, 2018
Madison Region MSA Ranks #1 for Quality of Life & Industry Diversity in United States

The Madison MSA was named the top metro for quality of life and industry diversity out of 383 Metro MSAs in the 2018 Metro Rankings Report published in the July/August 2018 issue of Business Facilities Magazine, a bi-monthly magazine specializing in the site selection marketplace. 

Madison also achieved the #5 ranking for Economic Growth Potential (Mid-Sized Metros).

"These impressive rankings for the Madison Region/MSA demonstrate our commitment to excellence in our legacy industries of manufacturing and agriculture throughout our rural counties while building world-renowned bio-tech, info-tech, health and fin-tech sectors in Dane County," MadREP president Paul Jadin said. "The report validates that, as we build our industry sectors, our commitment to ensuring the overall quality of life for residents of the Madison Region is not lost."

MadREP President Paul Jadin Speaking at the announcement of WEDC's Idle Site Grant for the former Oscar Mayer site.
City of Madison receives $500,000 state grant to support redevelopment of former Oscar Mayer plant

Laying the groundwork for the redevelopment of the former Oscar Mayer plant, Lt. Governor Rebecca Kleefisch announced the City of Madison is receiving a $500,000 state grant to help finance infrastructure work on the site.

The Idle Sites Redevelopment Grant from the Wisconsin Economic Development Corporation (WEDC) will be used to assist developer 910 Mayer LLC as it reconfigures outdated infrastructure at the site to deliver gas and electricity to each individual building on the 67-acre parcel. The work also includes upgrades at the buildings to comply with the federal Americans with Disabilities Act.

Reconfiguring the gas and electrical infrastructure will cost $1.8 million, $500,000 of which will come from the WEDC grant, with the rest funded by the developer.

#SunPrairieStrong

MadREP is honored to serve on the  Sun Prairie Rapid Response Team and is committed to working collaboratively with our partners to ensure the community has the support it needs to rebuild. Please visit the Sun Prairie Strong website for resources or to learn how you can help. 
What's next for the MadREP and the Madison Region?

In 2013, the Madison Region's existing regional economic development organization underwent rebranding, becoming MadREP, the Madison Region Economic Partnership. Having seen notable implementation successes with the first strategy, MadREP is embarking on a second five-year plan,  Advance Now  2.0, to continue the Madison region's economic momentum. Market Street Services is currently executing the competitive assessment portion of the strategy. MadREP's partner for the remainder of the strategic planning initiative will be determined after its RFP and selection process are complete.

We believe that every person is an expert about the place in which they live. We want to hear your perspectives on what it's like to live and work in the Madison Region. MadREP has launched a survey that will be a major component informing the recommendations in Advance Now 2.0. It will take roughly 10 to 15 minutes to complete. Your responses are confidential.

Take the Survey

REGIONAL NEWS
MadREP in the News:   
Downtown businesses look at bouncing back after July 10 explosion

City officials briefed downtown Sun Prairie business owners Friday July 13, offering resources so they can open their doors to customers after a July 10 natural gas explosion destroyed six buildings and killed a Sun Prairie firefighter.
 
Last Tuesday's explosion shut down the busy downtown Sun Prairie business district of restaurants, bars, shops, and apartments.  At least fifty-two downtown businesses and service agents were affected by the explosion, Sun Prairie Police Department reported on July 16.

Healthcare: 
Wisconsin's federal dollars as a portion of state revenue falls sharply
 
A new report from The Pew Charitable Trusts shows the percentage of Wisconsin revenue coming from federal dollars fell sharply in 2016.
 
According to the report, the overall share of states' revenue funded by federal dollars rose in fiscal 2016 for the third consecutive year, to 32.6 percent, up from 31.9 percent in 2015.

The increase was driven mainly by rising federal Medicaid grants fueled by expanded Medicaid coverage under the Affordable Care Act. Federal grants to states increased 5.2 percent in 2016.



Life Sciences:
Promega could earn $185K in tax credits
 
Promega Corp. could earn up to $185,000 in state tax credits as part of its plans to relocate some of its manufacturing facilities from California to Greater Madison, according to the Wisconsin Economic Development Corp.
 
WEDC says it's supporting the project by authorizing the tax credits through March of 2019, but the actual amount Promega receives is contingent upon the number of jobs created during that period.

  Read More 
Agriculture, Food & Beverage
Eric Rupert's Nutkrack started as a mistake but has turned into a full-on business of candied pecans
 
Eric Rupert knew instantly he had made a mistake.
 
It took him a while before he realized that what he thought was a botched batch of candied pecans for a salad could be transformed into a business on one of the city's hippest corridors.
 
Ten years after accidentally dunking a pound of pecans into the wrong pot, Rupert, a Madison native with a long resume as a chef, has a storefront, online orders and buys his pecans by the pallet.

 

Information Technology:  
UW-Madison Entrepreneurs Create the Next-Generation Streaming App to Focus on Emerging Artists
 
Currently, more than 99 percent of audio streaming is comprised of the top 10 percent most-streamed tracks. A team of UW-Madison students and alumni developed the LÜM platform in partnership with industry experts and artists. The application uses the music community as an interactive A&R machine to see early developments in music trends. Fans and communities, not corporations, are the ones who drive music discovery.
 
 
 
Advanced Manufacturing:
Sen. Johnson sends letter to Trump urging help for tariff-harmed Wisconsin companies

Following a recent roundtable in Milwaukee, at which 15 Wisconsin industry leaders told U.S. Sen. Ron Johnson (R-Wis.) about how Trump administration tariffs are wreaking havoc on their businesses, Johnson sent a letter to the president Wednesday communicating the urgency of their concerns.
 
In the 20-page letter, Johnson urges the Trump administration to take the concerns, shared by businesses as small as family farms and as large as GE Healthcare at Monday's roundtable, seriously and address them.


EVENTS & OPPORTUNITIES
WEDC's FY19 Global Business Development Grant application packet is now available

Wisconsin companies can apply for the International Market Access Grant (IMAG) to be reimbursed for specific expenses associated with executing their international export activities.

The project level funding is up to $10,000. 

Companies that have graduated from the ExporTech™ program are eligible to apply for up to $25,000 for assistance in implementing their export strategy.
New Markets Tax Credits

Lift Wisconsin, Inc. was established with a mission to invest in severely economically distressed areas of Wisconsin communities and to serve as a catalyst for economic development and job creation. 

In order to compete for New Markets Tax Credits we are soliciting projects to include in our application with the U.S. Department of Treasury. 

This pipeline pre-application gives us the potential to compete for NMTC but does not ensure that Lift Wisconsin, Inc. will get an allocation of NMTC.

PROPOSED NEW TARIFFS ON CHINESE IMPORTS - SECTION 301 DETERMINATION

On Tuesday, July 17, 2018, the US Trade Representative (USTR) published a proposed extensive list of products imported from China that could be subject to additional 10% tariffs.

Requests to testify at the public hearing must be filed by July 27, 2018.
 
Written comments must be filed by August 17, 2018.

The public hearing will take place August 20-23, 2018.
Foxconn Industrial Construction - Phase 1 of Wisconn Valley Science & Technology Park, August 2
 
The state is launching the second round of information sessions to provide companies with details on how to bid for work on the next phase of the construction of Foxconn Technology Group's advance manufacturing campus in Racine County.
 
Companies attending the sessions will receive details on how to bid on the work related to the construction of Foxconn's advanced display manufacturing buildings, which is expected to start mid-2019.
 

The Forward Festival, August 16-23
 
The Forward Festival is Madison's flagship technology and entrepreneurship festival.

Since starting in 2010, it now attracts over 5,000 attendees and includes 8 full days packed with 40+ events organized by entrepreneurs, for entrepreneurs. 

Join fellow entrepreneurs, nerds, designers, geeks, hackers, foodies, and creative professionals from the Midwest in a celebration of innovation and entrepreneurship.
 
More Information
Regional Innovation Strategies (RIS) Program, August 29
 
T he Regional Innovation Strategies (RIS) Program grant competitions are now open.
 
Applications are now being accepted for the i6 Challenge and Seed Fund Support Grant Competition. 
 
The submission deadline for applications will be Wednesday, August 29, 2018 at 11:59 p.m. Eastern Daylight Time.

If anyone has questions, contact Michael Gay.
The Alliance for the American Dream Challenge, August 29
 
The Alliance for the American Dream initiative, funded by Schmidt Futures, seeks to improve economic opportunities for more Americans and increase the country's competitiveness by building and supporting a stronger, more inclusive middle class.
 
The first challenge for DreamUp Wisconsin is to develop proposals to increase the net income of 10,000 Dane County households by 10% by the end of 2020.
 
2018 AgTech Venture Day, October 2

The day-long event in Johnson Creek - roughly halfway between Madison and Milwaukee - will bring together companies in fields such as precision farming, food packaging, food safety, organics, resource conservation and other disruptive technologies for pitches to Midwest angel and venture capitalists.
 
Hosted by Golden Angels Investors, the conference provides access to one of the Midwest's largest angel networks.
M+DEV, OCTOBER 19

M+DEV is a video game development conference for professional game developers and those seeking to become professional game developers.
 
This conference provides a gathering place for game developers in the state, the region and beyond to discuss and share the latest information on the science, art, mechanics and business of making games.
 
M+DEV is for anyone who is currently a professional video game developer or contractor, or who wishes to become one.

SPONSOR SPOTLIGHT

Thank you to Great Lakes and to all of our investors.
 
MADISON REGION ECONOMIC PARTNERSHIP
www.madisonregion.org   |  info@madisonregion.org  |  608.571.0420

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