Economic Development

Navigating Growth: Tracking Regional Commuting Patterns

Jessica Reilly · Nov 29, 2023 ·

As our cities expand and industries diversify, understanding how people move within a region becomes increasingly crucial for economic development organizations (EDOs). Here at MadREP we track regional commuting patterns on our proprietary data dashboard because they serve as a compass for steering sustainable economic growth.

A grid of Madison Region county-to-county commuting patterns.

Insights into Labor Market Dynamics

Tracking regional commuting patterns provides invaluable insights into the dynamics of the local labor market. By understanding where workers live and where they commute to for employment, EDOs can identify areas of labor surplus or shortage. This information becomes a powerful tool for shaping workforce development strategies, attracting businesses that align with local skill sets, and fostering a more balanced job market.

Infrastructure Planning and Investment

Efficient transportation infrastructure is the backbone of any thriving economy. Analyzing commuting patterns helps EDOs identify transportation bottlenecks and areas in need of infrastructure improvements. By strategically investing in roads, public transit, and other commuting infrastructure, regions can reduce commute times, enhance productivity, and attract businesses seeking well-connected locations.

Housing Market Dynamics

Commuting patterns are intricately linked to housing choices. Understanding where workers choose to live in relation to their workplaces can guide EDOs in addressing housing affordability, urban development, and zoning regulations. This information aids in creating communities that are attractive to the workforce, promoting a healthy balance between residential and commercial spaces.

Environmental Sustainability

Commuting has environmental implications, from air quality to carbon emissions. EDOs invested in sustainable development can utilize commuting data to encourage the use of public transportation, cycling, and other eco-friendly modes of travel. By strategically planning business districts and housing developments, regions can minimize the environmental impact of commuting, contributing to a greener and more sustainable future.

Talent Attraction and Retention

Businesses are drawn to regions with a skilled and available workforce. By tracking commuting patterns, EDOs can identify areas with a high concentration of talent and implement strategies to retain and attract skilled workers. This, in turn, makes the region more appealing to businesses looking for a skilled labor pool, fostering a cycle of economic growth.

Policy Formulation and Decision Making

Commuting data serves as a compass for policy formulation. EDOs can tailor policies related to land use, transportation, and economic incentives based on a deep understanding of regional commuting patterns. This data-driven approach ensures that policies align with the actual needs and behaviors of the local workforce, promoting inclusive and sustainable economic development.

To Sum Up

“In the fast-paced realm of economic development, the ability to evolve is key. I believe strongly in the power of tracking regional commuting patterns,” says MadREP VP of Strategic Partnerships Gene Dalhoff. “It’s an essential tool that offers a nuanced understanding of the local economic landscape. By understanding the movements of our workforce, we can make informed decisions that foster sustainable growth, create vibrant communities, and drive our region into a future of prosperity and resilience.”

The 2023 Wisconsin Games Alliance M+DEV Conference: A Hub for Game Development and Innovation

Jessica Reilly · Nov 28, 2023 ·

Jason Fields MadREP CEO Panel Discussion Gaming Event — Jason M. Fields, MadREP CEO and experienced economic development professional, recently participated in a panel discussion focused on the thriving gaming sector in Wisconsin’s Madison Region.

The Wisconsin Games Alliance M+DEV conference in 2023 signaled an exciting shift in the gaming industry landscape. With participation soaring up by 60% from the previous year, the event attracted over 750 in-person attendees and 100 online participants, underscoring the vibrant growth of the gaming sector in Wisconsin.

The global games industry, generating a staggering $190 billion in annual revenue, is witnessing an increasing concentration of major studios in Wisconsin. With big players like Microsoft, Krafton, Gearbox/Embracer Group, Entertainment Arts, and Epic Games now calling Wisconsin home, the state is emerging as a significant hotspot for game development.

One of the highlights of the conference was the revelation of why Entertainment Arts chose Wisconsin as the location for its third Respawn Studios, joining its other establishments in Los Angeles and Vancouver. The decision was influenced by factors such as Wisconsin’s high quality of life, lower cost of living, and abundance of talent in the gaming industry. The state’s favorable conditions also enable companies to implement a hybrid model, which is increasingly popular due to shorter commute times.

Despite these advantages, industry leaders suggested that one area that Madison could improve to further support the sector is by increasing the number of direct flights. This unexpected but crucial insight underscores the global nature of the gaming industry and the importance of connectivity in fostering its growth.

The landscape of game development and eSports has never been more exciting, and the Wisconsin Games Alliance M+DEV conference stands as testament to this. As the average salary in game development hovers around $120K per year, the sector promises fruitful careers and a thriving industry, shaping Wisconsin as a magnet for talent and innovation in the gaming realm.

The Madison Region Economic Partnership played a pivotal role in the creation of M+DEV and the Wisconsin Games Alliance, cementing Wisconsin’s position in the global gaming industry. Our dedicated efforts in fostering partnerships, promoting regional growth, and aligning economic development strategies have not only attracted gaming giants to the region but also nurtured local talent. By recognizing the enormous potential of the gaming industry and its capacity to stimulate economic growth, the Madison Region Economic Partnership has been instrumental in transforming Wisconsin into a vibrant hub of game development and e-sports. It serves as a testament to how strategic leadership, coupled with a supportive environment, can unlock a region’s potential and shape its future.

Madison Region Monthly Unemployment Continues to Trend Below National Average

Jessica Reilly · Oct 25, 2023 ·

The monthly unemployment rate is more than just a statistic on a government report. It serves as a vital economic indicator that reflects the health of a nation’s job market and the overall well-being of its citizens. By tracking monthly unemployment rates, we gain valuable insights into the state of the economy, make informed decisions, and shape policies that can transform lives.

Over the last year, our Madison Region’s monthly unemployment has trended below both the national average and those of our aspirational peer regions defined in the Region’s Comprehensive Economic Development Strategy (CEDS): Portland, OR; Ann Arbor, MI; Raleigh, NC and Austin, TX.

“To economic developers like us at MadREP, monitoring unemployment trends is our starting point when investigating potential contributors to a situation,” said MadREP President and CEO Jason M. Fields. CEcD, CFEI, CCRS.

“From there we might find that the availability of child care or gaps within the education pipeline are more heavily influencing the unemployment rate. After better understanding the landscape, we can determine our next steps and may even research how a peer region, such as Austin, Texas, handles similar workforce issues.”

Tracking monthly unemployment rates is paramount for a myriad of reasons. It’s more than just numbers on a page; it’s a reflection of the economy’s health, a compass for policymaking, and an early warning system for potential crises.

Economic Health Barometer

The monthly unemployment rate is, in essence, a barometer of a nation’s economic health. It provides a snapshot of the number of people actively seeking employment and their success in finding jobs. A rising unemployment rate can indicate economic distress, while a declining rate suggests an economy on the mend.

Gauge for Economic Growth

Low and stable unemployment rates are often seen as indicators of a growing and thriving economy. When businesses are hiring, it signifies increased consumer confidence, which, in turn, stimulates economic growth. High unemployment rates, on the other hand, may suggest stagnation or contraction.

Impact on Consumer Spending

Unemployment rates significantly influence consumer spending patterns. When unemployment is low, more people are working and earning, which can lead to increased consumer spending. This, in turn, has a positive ripple effect on businesses, as they experience higher demand for goods and services.

Government Policy Decisions

Policymakers closely monitor unemployment rates when shaping economic and labor policies. High unemployment can lead to efforts to stimulate job creation, such as tax incentives for businesses or workforce development programs. Low unemployment might prompt discussions about policies to ensure a balanced job market, including workforce training and education initiatives.

Social and Mental Well-being

Unemployment doesn’t just affect the economy; it also impacts the well-being of individuals and communities. Tracking monthly unemployment rates is essential for identifying areas where joblessness is high, which can lead to increased poverty, stress, and other social issues. Understanding these rates helps policymakers target support to communities in need.

Early Warning System

Unemployment rates can serve as an early warning system for potential economic crises. A sudden and sharp increase in unemployment can signal looming trouble in the economy. By acting swiftly in response to these indicators, governments can mitigate the severity of economic downturns.

Understanding Workforce Dynamics

Monthly unemployment rates also provide insights into workforce dynamics. They reveal not just the number of people without jobs but also the demographic breakdown, including age, education level, and industry. This information can guide workforce development programs, education initiatives, and job training efforts tailored to specific groups.

By understanding the significance of these rates and using them as a tool to shape decisions and policies, we can work collectively to create a brighter future for all. Unemployment rates aren’t just statistics; they represent real people, and by tracking them diligently, we can ensure that more individuals find stable employment, leading to stronger, more resilient communities and economies. Want to track it for yourself? Keep an eye on MadREP’s Data Dashboard.

MadREP & Partners Steer the State’s Tech Transformation, Achieving Regional Tech Hub Designation

Jessica Reilly · Oct 24, 2023 ·

In a historic move underscoring Wisconsin’s prowess in the realm of biohealth technology, the Biden-Harris administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA) designated the state as a Regional Technology Hub (RTH). This monumental achievement was celebrated by an array of key figures, including the Madison Region Economic Partnership (MadREP), who were acknowledged alongside Exact Sciences, Governor Tony Evers, U.S. Senator Tammy Baldwin, and the Wisconsin Economic Development Corporation (WEDC). Together, we continue to champion Wisconsin’s leadership in personalized medicine and biohealth technology.

Governor Evers noted, “Wisconsin’s designation as a Regional Tech Hub is a testament to the strength of our state’s biohealth and personalized medicine industry. As this sector continues to grow, it will mean more high-paying jobs and economic growth for our state, as well as innovations that will transform the future of medical care for people in Wisconsin and around the world.”

Senator Baldwin, a staunch advocate for Wisconsin’s tech industry, emphasized the state’s rich tradition of innovation and the transformative potential of the Tech Hub program. She highlighted the significance of fostering collaboration and creating opportunities, sentiments echoed and amplified by MadREP.

“I’d like to congratulate our partners in this endeavor, especially BioForward Wisconsin, Exact Sciences and Senator Tammy Baldwin. To be part of the coalition that came together to form the Wisconsin Biohealth Tech Hub Consortium is an experience I, along with the rest of my team at MadREP, won’t soon forget,” said Jason Fields, CEcD, CFEI, CCRS, President and CEO of the Madison Region Economic Partnership.

“The future of Wisconsin’s personalized medicine tech hub will spur growth throughout our key industry sectors in southcentral Wisconsin. I’d also like to thank our friends at EDA. It’s an honor to work with them daily on initiatives like this one to advance economic growth and equity in the Madison Region. In fact, they recently asked our organization to pursue the Economic Development District (EDD) designation on behalf of the Region to expand opportunities to do just that!”

At the heart of this transformative journey lies the Wisconsin Biohealth Tech Hub Consortium, a collaborative effort bringing together 15 public and private partners, including esteemed entities like GE HealthCare, Rockwell Automation, and the University of Wisconsin-Madison. This coalition, uniting educational institutions, biohealth companies, precision manufacturers, and investors, aims to enhance collaboration and secure the coveted RTH designation.

The RTH designation holds the promise of transformative change, promising shared data systems, streamlined supply chains, improved access to capital, and equitable opportunities for all Wisconsinites. With Madison, Dane County’s vibrant economic epicenter, at its core, the RTH initiative is poised to not only bolster the local economy but also create a ripple effect felt across the entire state.

A cornerstone of the consortium’s vision is personalized medicine, a field poised to revolutionize healthcare. By tailoring treatments to individual patients’ specific medical needs, this approach promises faster healing, reduced reliance on chronic care, minimized side effects, and equitable healthcare access, aligning perfectly with MadREP’s vision of a thriving and healthy community.

“The Regional Tech Hub designation confirms what we already know about Wisconsin: when it comes to bringing together the best in research and development, cutting-edge manufacturing, highly skilled and educated workers, and a commitment to relentless improvement, no state is better prepared to lead the way, said Missy Hughes, secretary and CEO of WEDC. “This is a huge win in creating an economy for all, where everyone has the opportunity to live healthy, prosperous lives.”

Wisconsin’s designation as a Regional Technology Hub marks a pivotal moment in the state’s history. It signifies not just progress but a testament to the power of collaborative vision and dedicated leadership. As Wisconsin steps into this new era of innovation, it does so leading the charge, inspiring other regions and states to dream big, collaborate fervently, and, above all, believe in the transformative power of united effort.

MadREP Announces Entrepreneur Bootcamp in Partnership with Lightship Foundation & The American Family Insurance Institute

Jessica Reilly · Sep 14, 2023 ·

Lightship’s Bootcamp is a free entrepreneurship education program, serving underrepresented early-stage business founders.

Lightship Bootcamp is coming to Madison, WI. September 19-21, 2023.

Madison Region Economic Partnership (MadREP) and Lightship Foundation unveiled plans to bring the Lightship Bootcamp program, powered by the American Family Insurance Institute for Corporate and Social Impact (the Institute) to the Madison Region. The organizations will host three days of “bootcamp” (September 19-21, 2023) at the Goodman South campus of Madison College, providing mentorship, specialized curriculum, and networking for underrepresented entrepreneurs seeking to grow their businesses within South Central Wisconsin.

“We’re ecstatic to unite with the American Family Institute to introduce Lightship Bootcamps to Madison, Wisconsin,” says Candice Matthews Brackeen, CEO, Lightship Foundation. “Our aspiration is for this partnership to ignite the flames of innovation and opportunity, enriching neighborhoods and empowering founders from diverse backgrounds.”

Bootcamp is designed to help founders rediscover, refine, and reinvent their business strategy while reevaluating their product, sales, and marketing strategies. Interested founders should apply now at lightship.education/apply.

“Equitability, accessibility and inclusivity is sewn into the very fabric of everything we do. When we prioritize equitableness and strategically create opportunities, exciting things start to happen.”
MadREP President & CEO Jason M. Fields, CEcD, CFEI, CCRS

The Madison Region’s upcoming Lightship Bootcamp also serves as the first formal program under the Economic Equity & Investment priority of the organization’s newly formed “Bridge Wisconsin” initiative led by Bridge Wisconsin Chief Strategy Officer Tonnetta Darcel Carter. The initiative works collaboratively to close economic gaps and drive innovation for rural and urban communities, supporting five strategic priority areas: Housing, Early Childhood Education, Economic Equity & Investment, Workforce Development, and Sustainability.

“Equitability, accessibility and inclusivity is sewn into the very fabric of everything we do,” says MadREP President & CEO Jason M. Fields, CEcD, CFEI, CCRS. “When we prioritize equitableness and strategically create opportunities, exciting things start to happen. Lightship Foundation’s Bootcamp, powered by the American Family Institute, is the perfect opportunity to expand economic equity across our region and formally launch our Bridge Wisconsin initiative.”

“The Institute is excited to bring together mission-aligned organizations like Lightship Foundation and MadREP to provide equitable opportunity to founders within the Madison Region,” said Nyra Jordan, social impact director with the Institute. “We believe this is a place where founders of color can thrive, and we want to provide access to world class resources as early as possible.”

“Access to capital has been historically disproportionate for women entrepreneurs and entrepreneurs of color,” says Dr. Jack Daniels, President of Madison College. “At Madison College, we pride ourselves on providing equitable and affordable access to resources, technical assistance, and education in our communities. We are excited to host the entrepreneur bootcamp at our Goodman South campus and to welcome Lightship Foundation to our Region.”

Apply Now