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Economic Development

To sustain the high quality of life we all enjoy here in the Madison region, we must aggressively pursue efforts to expand the tax base. From improving our local regulatory climate to truly embracing a collaborative, regional strategy for economic growth, our economic development agenda includes strategies to attract investment and new business ventures as well as help existing businesses grow.

October 2013:  Chamber Member Economic Census Reveals Positive Business Outlook

The Chamber’s Annual Economic Census included participation from 248 Madison-area business owners and executives. The individual results were aggregated and analyzed by Ady Voltedge and Monalco Marketing.

Overall, the results were encouraging for Madison area businesses. Takeaways include:

  1. Businesses predict a strong year in 2014 with 72 percent of respondents expecting a positive gross revenue trend for their next fiscal year. Another 72 percent report a positive gross revenue trend for the first half of 2013.
  2. A majority of respondents, 56 percent, plan to expand somewhere in the next fiscal year. Nearly half of those expansions will occur in Dane County, 31 percent plan to expand outside Dane County, and 21 percent have plans to expand in both.
  3. Greater Madison is considered a good place to do business with 82 percent of respondents willing to recommend Dane County. When asked what makes Greater Madison a competitive place to do business, top responses include a high quality of life, an educated workforce and close proximity to colleges, universities and larger business markets. Concerns included overregulation and the political climate.
  4. Greater Madison has an exceptionally generous business community with 79 percent of organizations giving time or money to a Dane County charitable initiative last year.

Click here to view an illustrated summary of the results.

 

Advance Now

Advance Now is a comprehensive, action-oriented regional economic development strategy to guide our regional economy forward. The Madison Region Economic Partnership has led the discussion and creation of the report. Now, it will take a collective public-private effort to implement the strategy. The Chamber will continue to be an active supporter and partner of Advance Now.

To view the plan in its entirety, click here.

 

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