Nov 29, 2016

IMCP Designation Attracts Over $2.1 Million Federal Investment to the Region

PRESS RELEASE:  November 29, 2016

Madison, Wis. — In July 2015, Madison Region Economic Partnership (MadREP) received the Investing in Manufacturing Communities Partnership (IMCP) designation, becoming one of just twenty-four IMCP regions in the nation. Led by the U.S. Department of Commerce, IMCP is a multi-agency initiative designed to leverage economic development funds and accelerate the resurgence of manufacturing industries nationwide by supporting the development of long-term economic development strategies.

MadREP applied for IMCP designation in the Agriculture, Food, and Beverage manufacturing sector — an industry in which the region ranks nationally and boasts R&D, workforce, technology, and climate advantages. However, the IMCP designation can be leveraged to advance any industry. The IMCP region includes the eight-county Madison Region, augmented by six additional partner counties in southwestern Wisconsin. Thirty projects were included in MadREP’s comprehensive IMCP strategy, spanning workforce and training, supplier network, infrastructure/site development, research and innovation, trade and international investment, and operational improvement and capital access.

As an IMCP designee, MadREP and its partners have received coordinated support from dedicated liaisons at eleven federal agencies to navigate available resources, affording MadREP and its partners the opportunity to access significantly greater federal dollars to position the region to attract talent, technology, and investment.

Following the designation, MadREP formed an IMCP Consortium of 85 partners committed to the implementation of the thirty projects included in the comprehensive strategy, as well as any other opportunities that would advance the regional economy. Since receiving the designation, the IMCP Consortium — led by MadREP Senior Vice President Michael Gay, CEcD — has supported 12 applications for more than $6 million in State, Federal, and private funds.

Leveraging the IMCP designation, the following projects have been awarded to date, totaling over $2.1 million in federal funding.

  • REAP Food Group was awarded $203,500 by the U.S. Department of Agriculture’s Farmers Market and Local Food Promotion Program for its Wisconsin Farm Fresh Atlas project, which will create a statewide website for local food and implement a local food marketing campaign — connecting local farms to more consumers throughout Wisconsin.
  • The Food Finance Institute at the University of Wisconsin-Extension received $500,000 from the U.S. Department of Agriculture to deliver financial management and training programs for Food Hubs to accelerate their growth and enable them to reach financial sustainability.
  • The U.S. Department of Commerce Economic Development Administration (EDA) has selected University of Wisconsin-Extension as an EDA University Center for Wisconsin, awarding the organization $750,000 to further its assistance to local government and nonprofits for research and development of regional economic development strategies. This grant builds on the Agriculture, Food & Beverage Industry Cluster Analysis and furthers that research through support for innovative economic clusters, fostering entrepreneurship, and strengthening vibrant and cohesive regional economies throughout the state.
  • StartingBlock Madison, the entrepreneurial hub slated for construction in 2017 in the City of Madison’s Capital East District, is one of 35 organizations from 19 states to receive $475,000 from the U.S. Economic Development Administration through its i6 Challenge. The grant will further StartingBlock’s objectives to cultivate the next generation of entrepreneurs, provide proof-of-concept and commercialization support to existing companies, and leverage and connect regional assets.
  • Madison Region Economic Partnership was awarded $200,000 in EDA Local Assistance funding to implement the MadREP IMCP Consortium.

“The key to the success of all of these efforts is that they are remarkable projects irrespective of their relationship to IMCP,” said MadREP President Paul Jadin. “MadREP is pleased to add a competitive advantage by authoring, serving as co-applicant, sponsoring or endorsing the projects under the auspices of the IMCP program. We look forward to improving federal relations and assisting many more worthwhile programs while we have the designation.”

Contact: Paul Jadin | 608.571.0401