Unemployment for September 2017

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St. Croix County’s September Unemployment Rate at 2.6%

On October 25th, the Wisconsin Department of Workforce Development (DWD) announced the preliminary September 2017 unemployment rates for Wisconsin’s 72 counties and the 32 cities with populations greater than 25,000 residents. St. Croix County’s rate was estimated at 2.6%. For comparison, St. Croix’s final rate in August was 2.9% and July’s final rate was 2.8%. One year ago, the county’s unemployment rate was estimated at 3.4%.

DWD said preliminary unemployment rates for September decreased in all 72 counties when compared to September 2016. The current rates ranged from 2.3% in Dane, Green, Iowa, and Lafayette to 5.2% in Menominee.

The September 2017 preliminary unemployment rates decreased in all of Wisconsin’s 32 municipalities with population bases of least 25,000 residents when compared to September 2016. September’s rates ranged from 2.3% in Madison to 3.8% in Racine.

Dane, Green, Iowa, and Lafayette counties had the lowest rate in September at 2.3% with Calumet rounding off the Top 5 at 2.5%. Menominee County had the highest rate in September at 5.2%, followed by Iron (5.1%), Forest (4.5%), Adams (4.2%), and Milwaukee (4.0%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix referenced above, the preliminary rate for September 2017 in Dunn was estimated at 2.7%, followed by 2.8% in both Pierce and Polk. The current rates in all four counties are lower compared to last month (August 2017) and one year ago (September 2016).

St. Croix and Pierce counties are included in the 16-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The September 2017 unemployment rate for the Twin Cities was estimated at 2.9%, which is lower than August’s final rate of 3.4% and July’s final rate of 3.3%. The unemployment rate in the Twin Cities was 3.5% in September 2016.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in September was estimated at 3.5%, which is higher than August’s final rate of 3.4% and the same as July’s final rate (3.7%). One year ago, the state’s seasonally adjusted rate was 4.0%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in September 2017 was estimated at 3.7%, which is lower than August’s final rate of 3.8% and July’s final rate of 3.7%, which is higher than the 3.7%, which is the same as the final rates for June. Minnesota’s seasonally adjusted rate one year ago was 4.0%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for September was estimated at 4.2%, which is lower than August’s final rate of 4.4% and July’s final rate of 4.3%. One year ago the U.S. rate (seasonally adjusted) was estimated at 4.9%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for September 2017 was estimated at 68.8%, which is the same as the final rate for both August and July. One year ago, Wisconsin’s labor force participation rate was 68.4%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in September was estimated at 63.1%, which is higher than the final rate of 62.9% for both August and July. One year ago, the labor force participation rate in the U.S. was 62.9%.

September 2017 Unemployment Table
September 2017 Unemployment Comparison
September 2017 Participation Rate

Manufacturing Transitions to New Era

SCEDC BLOG

Manufacturing Transitions to New Era

BY BILL RUBIN, EXECUTIVE DIRECTOR

The state’s top elected official recently proclaimed October as Manufacturing Month in Wisconsin. He says manufacturing is the backbone of the state’s economy and local industries often serve as a staple in their respective communities through the creation of family-supporting jobs and ongoing capital investments.

Impressive statistics were offered with the proclamation. Last year, the state’s manufacturing sector employed more than 461,000 workers, accounted for more than 18 percent of the gross domestic product, and contributed over $56 billion to Wisconsin’s economic growth.

The U.S. manufacturing sector is so significant it would rank as the tenth-largest world economy, according to the Manufacturing Institute. The U.S. Chamber of Commerce found a new manufacturing job has a multiplier of 1.5, meaning 100 new manufacturing jobs create 50 full-time jobs in other sectors. Manufacturing also has a multiplier on demand for raw material, energy, and services. Every dollar spent in manufacturing supports more than $1.30 in output from other sectors, making manufacturing the top multiplier.

Manufacturing in St. Croix County is substantial, too. The American Fact Finder research tool indicates St. Croix has around 170 manufacturers, employing just over 6,000 men and women with an annual payroll of almost $324 million. Total manufacturing shipments in 2012 were estimated at $1.3 billion.

What about the 3-Ds of manufacturing that grandpa warned small children of – Dark, Dirty, and Dangerous? Today’s industries better reflect the term advanced manufacturing – combining exacting formulas and close tolerances with quality-controlled production. Several manufacturers in St. Croix possess cleanroom space for production and assembly, allowing for the filtration of airborne dust. The newly-opened WinField® United facility boasts a wind tunnel, and a second is on the way. On other fronts, manufacturers push science and technology to new limits in order for their products to be stronger than steel, lighter than air, and cheaper than dirt. This is not your grandpa’s version of manufacturing and 3-D may better describe a software design program or a printer that creates objects from substrate material.

The world has changed. Bigger and better farms yielded to bigger and better factories, and now, bigger and better services are dominant. Even with more services and cell phone app’s, manufacturing still plays a vital role.

Happy Manufacturers Month. May advanced manufacturing prosper in St. Croix County.

Nominations Open for 2017 Business of the Year Awards

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Nominations Open for 2017 Business of the Year Awards

St. Croix EDC is now accepting nominations for its 2017 Business of the Year awards program. Categories include:
Emerging Business of the Year (a start-up business that has operated in St. Croix County for five or fewer years)
Small Business of the Year (29 or fewer employees); and
Business of the Year (30 or more employees).

A nomination form and guidelines can be obtained by clicking HERE or by contacting Nita Dusek at (715) 381-4383 or nita@stcroixedc.com. The deadline to submit is Friday, December 15, 2017 at the close of business.

Individuals may nominate a company in any of the categories or a business may place their company’s name in nomination.

The winners will be announced in January and honored at a banquet on Thursday, February 22, 2018 at Kilkarney Hills in River Falls.

The 2016 winners were Oliphant Brewing Company (Village of Somerset), Emerging Business of the Year; Wisconsin Lighting (City of New Richmond), Small Business of the Year; and Croix Gear and Machining (City of Hudson), Business of the Year.

For more information, contact William Rubin or Nita Dusek at St. Croix EDC, (715) 381-4383 or bill@stcroixedc.com or nita@stcroixedc.com.

Member Appreciation & New Member Recruitment Event

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St. Croix EDC’s Member Appreciation & New Member Recruitment Event

You’re invited!

St. Croix EDC’s Member Appreciation & New Member Recruitment Event
Wednesday, October 25, 2017 4:00 to 6:00 p.m.

Rush River Brewing Company
990 Antler Court
Whitetail Ridge Corporate Park
River Falls, WI 54022

Enjoy networking among EDC member-supporters, new business colleagues, beer in the taproom, appetizers, and a brewery tour.

RSVP here by Friday Oct 20, 2017 or by contacting Nita Dusek at nita@stcroixedc.com or (715) 381-4383

Winnesota

SCEDC BLOG

Winnesota

BY BILL RUBIN, EXECUTIVE DIRECTOR

Kitty Rhoades will be remembered as a UW-River Falls grad, educator, small business owner, chamber executive, state representative, and state cabinet secretary. She is also credited with coining the term, Winnesota.

Kitty used the term Winnesota in the 1990s to describe St. Croix and Pierce counties in her Assembly District. Both counties are located along the Wisconsin-Minnesota border and are included in the federal definition of the 16-county Twin Cities metropolitan area, making them among the fastest-growing in Wisconsin. Rhoades told the Milwaukee Journal Sentinel, “I still call my area Winnesota. We are in Wisconsin, but it sure is hard to remember it.”

The origin of Winnesota grew out of frustration. It’s a short 20-minute drive to Minnesota’s capitol in St. Paul versus nearly four hours to Madison. Even in the age of instant electronic messaging, residents of Winnesota rely on the Twin Cities media – print, radio, and TV – as primary sources for news. Be prepared to dig a deeper for Wisconsin current events, including tidbits on Packers, Brewers, and Badgers.

WI MN Survey MarkerEven as new bridges are built, a survey marker serves as a reminder of relative location, whether it’s Wisconsin, Minnesota, or Winnesota. Walkers, runners, and bicyclists are encouraged to find the Wisconsin-Minnesota marker along the sidewalk on the new St. Croix Crossing. Hint: In the middle of the three scenic overlooks, first enjoy the upstream views of the St. Croix Valley. Then glace at your feet. The marker is in plain sight. Fight the urge to place a foot in either state. OK, just once.

Uniquely Winnesota.

Seminar on Financial Assistance for Global Market Expansion

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UW-River Falls Hudson Center Hosts
Seminar on Financial Assistance for Global Market Expansion

 

Experts from several organizations will present information to local companies contemplating an entry into new international markets during a free, half-day seminar on Wednesday, October 18th from 8:00 a.m. to Noon at the UW-River Falls Hudson Center, 2501 Hanley Road, in Hudson, Wisconsin. The seminar is hosted by the Center for Innovation & Business Development (CIBD) and St. Croix EDC, and there is no fee to attend.

The seminar will dispel the misconceptions about two barriers — complexity and costs – related to global market expansion. Sources of available funding to achieve exporting goals will be emphasized.

The seminar combines presentations and roundtable discussions to provide attendees with actionable advice.

Click here to register: join.inwisconsin.com/faroadshow or contact Nita Dusek at St. Croix EDC, (715) 381-4383 or nita@stcroixedc.com.

Featured Properties – September 2017

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Featured Properties – September 2017

St. Croix EDC is collaborating with colleagues from Polk, Pierce, and Dunn counties to create a quarterly marketing piece of randomly selected available properties available for sale or lease throughout the Greater St. Croix Valley. For information on additional available buildings, check here.

The flyer is published quarterly and new properties are included in each new edition. It is done in collaboration with Xcel Energy.