WEDC HELPING TO MOVE WISCONSIN FORWARD. Reed E. Hall Secretary/CEO

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1 WEDC HELPING TO MOVE WISCONSIN FORWARD Reed E. Hall Secretary/CEO

2 WEDC S AREAS OF EMPHASIS Encourage startups and investment capital Nourish existing Wisconsin companies Recruit existing businesses from neighboring states to grow in Wisconsin Look outside the country specifically Canada, Mexico and Pacific Rim for export and foreign investment opportunities Build strong partnerships across Wisconsin Support local communities Support driver industries

3 WEDC IMPACT IN WISCONSIN

4 OUR PARTNERS We have built strong partnerships across Wisconsin: The Wisconsin Economic Development Association Wisconsin Manufactures & Commerce, the state s chamber of commerce State and regional economic development organizations, including county and local economic development entities, and regional planning commissions Industry organizations in fields such as real estate, and food and beverage Wisconsin Department of Workforce Development Other state agencies, such as DOA, DNR and DOR Minority business development organizations, including minority chambers of commerce Business accelerators and support organizations such as VETransfer, The Water Council, the Wisconsin Technology Council and BioForward The UW College System and the Wisconsin Technical College System We understand that we cannot drive job growth just out of Madison

5 WEDC IN ACTION FY2013 Highlights

6 FY2013 ACTIVITY BONDS 18awarded Amount $ 179.7million Co-Investment Leverage NA GRANTS 79awarded Amount $ 7.4million Co-Investment Leverage 14.7:1 INVESTOR CREDITS 50awarded Amount $ 16.3million Co-Investment Leverage 3:1 LOANS 32awarded Amount $ 14.7million Co-Investment Leverage 12.1:1 TAX CREDITS 91awarded Amount $ 112.1million Co-Investment Leverage 10.6:1 TOTAL AWARDS 270 awarded Total Amount $ 330.2million Total Co-Investment Leverage 4.1:1

7 FY2013 IMPACT BUSINESSES 2,085 Combined efforts of WEDC and Key Strategic Partners. COMMUNITIES 69 Assisted JOBS 37,313 Jobs in Wisconsin anticipated to be retained and created directly by investments made by WEDC in FY13

8 OFF TO A FAST START IN 2014

9 AN ABUNDANCE OF ACTIVITY So far in FY14, WEDC has undertaken several key initiatives: State s first-ever economic development TV ads Historic Tax Preservation Credit Propane Emergency Line of Credit Bank Guarantee Program Ideadvance with UW System and UW-Extension Improved WEDC economic impact map Idle Industrial Sites Program New global opportunities Certified in Wisconsin Program

ECONOMIC DEVELOPMENT TV ADS First-ever business attraction television commercials for Wisconsin began airing January 6 Two ads will air for eight weeks in Chicago, Rockford

10 ECONOMIC DEVELOPMENT TV ADS First-ever business attraction television commercials for Wisconsin began airing January 6 Two ads will air for eight weeks in Chicago, Rockford and Minneapolis-St. Paul markets Airing on two top-rated news stations targeting business executives CNN and CNBC and the nation s number-one morning news show ( Fox & Friends )

12 HISTORIC PRESERVATION TAX CREDIT In December, Gov. Walker signed new law that raised the state s Historic Preservation Tax Credit from 10% to 20% In just six weeks, WEDC implemented rules for the expanded program Aims to renovate and rehabilitate aging buildings, which will boost economic development in historic downtowns WEDC has received numerous inquiries from developers statewide Partnership with Wisconsin Historical Society and state Department of Revenue

PROPANE EMERGENCY LOAN FUND Skyrocketing propane prices and shortages prompted Governor Walker to take emergency action to deal with the crisis 250,000 households affected In less than a week, WEDC

13 PROPANE EMERGENCY LOAN FUND Skyrocketing propane prices and shortages prompted Governor Walker to take emergency action to deal with the crisis 250,000 households affected In less than a week, WEDC developed guidelines, held emergency board meeting, and implemented new Emergency Line of Credit Guarantee Program for propane dealers Meets a crucial need for dealers who have exhausted existing bank lines of credit because of high prices Guarantees up to 80% of a new or expanded bank line of credit up to $100,000 per dealer

IDEADVANCE $1 Million Incentive Grant $1 Million Matching Grant $2

UW campuses statewide First fund of its kind in UW history Includes lean

staff, students at System campuses (except UW-Madison) from any

14 IDEADVANCE $1 Million Incentive Grant $1 Million Matching Grant $2 million seed fund to help commercialize technology and ideas developed at UW campuses statewide First fund of its kind in UW history Includes lean startup training through SBDC and UW-Extension online Open to faculty, staff, students at System campuses (except UW-Madison) from any discipline Open to companies that license technology from WiSYS or UWM Research Foundation

ECONOMIC IMPACT MAP ENHANCED Map and interactive database allows users to easily retrieve detailed information about WEDC loans, tax credits, grants and other awards Map includes details such as

15 ECONOMIC IMPACT MAP ENHANCED Map and interactive database allows users to easily retrieve detailed information about WEDC loans, tax credits, grants and other awards Map includes details such as amount of award and estimated number of jobs Updated WEDC award data through first quarter of FY14 Map and corresponding database now includes DATCP award information for first time FY12 and FY13; other agencies to follow Economic impact map generates detailed PDF reports, which include a map and an expanded detailed listing of projects Map can be found at inwisconsin.com/impact-map

16 ONLINE RESOURCE LIBRARY FOR ECONOMIC DEVELOPMENT PARTNERS WEDC has created a series of marketing folders for our economic development partners Materials highlight the state s economic assets and target businesses to start up, expand or relocate here Folders are made available to economic developers through the state s regional economic development organizations Print-on-demand of product sheets, case studies and industry profiles you can use in your marketing efforts inwisconsin.com/regional-marketing-resources

IDLE INDUSTRIAL SITES REDEVELOPMENT PROGRAM Stimulates investment and job creation in idle/underutilized manufacturing sites that cannot be redeveloped solely by the private sector Awards granted to

17 IDLE INDUSTRIAL SITES REDEVELOPMENT PROGRAM Stimulates investment and job creation in idle/underutilized manufacturing sites that cannot be redeveloped solely by the private sector Awards granted to local units of government and other public bodies Pays for site-specific improvements, such as demolition, environmental remediation Six awards made totaling $5.1 million Awards went to Milwaukee, Madison, Wausau, Beloit, Port Edwards, Waterloo

18 CERTIFIED IN WISCONSIN

19 CERTIFIED IN WISCONSIN 300,000-square-foot, $37.8 million United Natural Foods Inc. distribution center in Prescott 157,000-square-foot, $14.5 million Service Cold Storage warehouse in Stevens Point

20 INTERNATIONAL TRADE COMMISSIONERS ASSN. EVENT In January, Lieutenant Governor Kleefisch, WEDC s Lora Klenke and I hosted an event in Chicago with 34 foreign trade commissioners from 22 countries The first-ever such meeting highlighted Wisconsin s strengths in areas such as water technology, energy control, manufacturing Plans are under way to have the commissioners take a bus tour to Wisconsin this spring that will include visits to the Capitol, UW-Madison and The Global Water Center, and meeting with state officials and Wisconsin business leaders

21 WEDC LOOKING FORWARD

22 EXPANDING OPPORTUNITIES WEDC is working with the state Department of Workforce Development and Workforce Development Boards to address availability of qualified workers across the state WEDC is evaluating broadband availability across Wisconsin. Adequate broadband availability is essential for a modern economy Industrial Clusters We are accenting clusters of like businesses, such as manufacturing, aerospace, financial services, food and beverage, energy, forestry, water and biotechnology We will continue to encourage businesses like Amazon, Kenall Mfg., and United Natural Foods Inc. to grow in Wisconsin

23 EXPANDING GLOBAL OPPORTUNIES International Trade Trips 2013 saw trade missions/events to China, Australia, South Africa, Brazil, Chile, Colombia, Taiwan and Japan 2014 will see missions/events to United Arab Emirates, Qatar, India, Russia, Czech Republic, Indonesia, Poland and Japan Our International trade office network has expanded from 4 offices under the Department of Commerce to representation in 36 countries today In calendar year 2013, exports totaled $23.1 billion, which equals Wisconsin s record high This is an area that will grow in importance in the years ahead

24 WHY EXPORT? New Realities Over 95% of the world s population lives outside of the United States The vast majority of middle-class growth is occurring outside our borders

25 WORLD POPULATION 2050 N. America 444 million (4.1%) Europe 671 million (6.1%) Asia 5.91 billion (54.0%) % OF GLOBAL POPULATION S. America 862 million (7.9%) Africa 2.99 billion (27.4%) Australia 59 million (0.5%)

26 CHANGING PERCEPTIONS REGARDING WISCONSIN 95% of Wisconsin employers believe state is headed in right direction (up from 10% in 2010) CNBC ranks Wisconsin as the 5 th best state in the nation for manufacturing job growth America s Top States for Business

27 WISCONSIN S ECONOMY GETTING STRONGER Wisconsin s unemployment rate of 6.2% lowest since November 2008 National unemployment rate is 6.6% More than 100,000 jobs created since Governor Walker took office State has seen a net gain of 15,000+ businesses since January 2011 Initial unemployment claims in Wisconsin at a 12-year low Private-sector job creation between April and November 2013 best since 1994 Wisconsin ranked 4 th in the U.S. in personal income growth from second to third quarter 2013

28 SUMMARY WEDC s mission continues to be supporting economic development and job creation though initiatives aimed at propelling Wisconsin s economy forward Wisconsin is a great place to live and work, and offers: A productive business climate A highly skilled and dedicated workforce A positive political and regulatory environment A highly regarded UW system and technical college program High-quality health care services WEDC and WEDA will continue to help move Wisconsin forward

29 A STRONG PARTNERSHIP IS GETTING STRONGER Congratulations on WEDA s first 40 years We are proud to be your partner There are great days ahead for WEDA and its members Thank you for your attention

HOW WEDC CAN ASSIST DEVELOPMENT IN YOUR COMMUNITY

HOW WEDC CAN ASSIST DEVELOPMENT IN YOUR COMMUNITY Jennifer Hagner Campbell, Senior Staff Counsel Mary Gage, Senior Economic Development Director 2018 Municipalities Attorneys Institute Wisconsin Economic