The Digital Transformation and the Future of Technology for Business
Welcome to the 4th Industrial Revolution!
Are you ready for what awaits us?

On Tuesday, March 23rd, a thought provoking conversation on the digital transformation and future of technology for business and industry was given by Ron Anderson, Assistant Professor of Management, UW-River Falls College of Business and Economics, Department of Management and Marketing. The event was recorded and can be viewed until April 13. You can view the recording here.

Synopsis: Imagine a world in which physical products are digitally downloaded and manufactured on-demand in the customer’s home, computers divine “creative” solutions to problems that befuddle the minds of their programmers, and digital worlds allow for design and testing of ideas without expenditure of material prototypes. This world is much closer than many of us imagine.

Societies are undergoing explosive transformation as new technologies redefine possibilities in all facets of life. As business leaders chart their courses in the coming decades, they will face both promise and challenge in advents like blockchain, augmented reality, 3D printing, and artificial intelligence. These technologies, among others, comprise what is being hailed as the next industrial revolution. What are these technologies and how might they impact the future of business? Let us consider some possibilities!

On March 17th, the Wisconsin Department of Workforce Development (DWD) announced the preliminary January 2021 unemployment rates for Wisconsin’s 72 counties and the 34 cities with populations greater than 25,000 residents. St. Croix County’s January rate was estimated at 4.4%, which is higher than the final rate of 4.3% for both December and November. One year ago, the county’s unemployment rate was estimated at 3.9%.

DWD said preliminary unemployment rates from December to January increased in 68 of the 72 counties as well as year-over-year. The rates ranged from 3.2% in Calumet to 8.3% in Menominee.

Preliminary unemployment rates declined or stayed the same in three of Wisconsin’s 34 largest municipalities from December to January. Rates ranged from 3.2% in Madison to 7.1% in Racine.

The five counties with the lowest unemployment rates in January include Calumet (3.2%), Lafayette (3.3%), Dane (3.4%), Marathon (3.5%), and Sheboygan (also at 3.5%). Menominee County had the highest rate in January at 8.3%, followed by Forest (8.2%), Adams (8.1%), Bayfield (also at 8.0%), and Iron (7.8%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 4.4%, January’s preliminary rate in Pierce is also 4.4%, while Dunn reported 4.5% and Polk came in at 5.8%.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The January 2021 unemployment rate for the Twin Cities was estimated at 4.8%, which is higher than December’s final rate of 4.5% and November’s final rate of 4.0%. The unemployment rate in the Twin Cities was 3.1% in January 2020.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in January was estimated at 3.8%, lower than December’s final rate of 4.0% and November’s final rate of 5.3%. One year ago, the state’s seasonally adjusted rate was 3.3%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in January was estimated at 4.5%, which is lower than December’s final rate of 4.7% and November’s final rate of 5.0%. Minnesota’s seasonally-adjusted rate one year ago was 3.2%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for January was estimated at 6.3%, which is lower than the final rate of 6.7% for both December and November. One year ago, the U.S. rate (seasonally adjusted) was estimated at 3.5%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for January was 65.5%, which is the same as December’s final rate, but lower than November’s final rate of 66.8%. One year ago, Wisconsin’s labor force participation rate was 66.4%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in January was estimated at 61.4%, which is lower than the final rate of 61.5% for both December and November. One year ago, the labor force participation rate in the U.S. was 63.4%.

January’s estimates are preliminary and are subject to revision within the next few weeks.

St. Croix Economic Development Corporation (EDC) donated $1,500 to the St. Croix Valley Food Bank following a successful fundraising effort conducted as part of its annual business of the year celebration held online on February 25, 2021.

The COVID-19 pandemic forced the EDC to use an electronic format to honor three businesses and an individual this year. Under normal circumstances, the celebration is held at an event center with 175+ people gathered for networking, dinner, and awards. With no meals served on February 25th, the EDC asked attendees to consider donating to the food shelf cause and an online service collected the funds, which were later released to the EDC.

“The global pandemic has adversely impacted so many lives in St. Croix County,” said Rob Kreibich, president of the EDC board of directors. “The voluntary fundraiser was a relatively easy way to generate some meaningful money and get it in the hands of those in need,” he added.

“Part of the donation is from public and private sector members of the EDC who supported the awards celebration with sponsorships,” said Bill Rubin, the EDC’s executive director. “We appreciate their continued support.”

The St. Croix Valley Food Bank works to end hunger and food insecurity in west central Wisconsin and is responsible for distributing the funds to food shelves in St. Croix County. The food bank builds on the success of the former John Coughlin Food & Resource Center (JCFRC). Coughlin served as the executive director of the United Way St. Croix Valley for more than 20 years. He saw hunger as a major impediment in the St. Croix Valley. Due to the growing regional need in west central Wisconsin, JSFRC transitioned to a nonprofit organization, independent of the United Way, known as the St. Croix Valley Food Bank. In 2020, the food bank distributed an estimated 761,409 pounds of food (913,690 meals). Those efforts, combined with Second Harvest Heartland, created a total distribution of three million pounds of food. It plans to distribute six million pounds of fresh, healthy food in 2021.

Anne Searles serves as the executive director of the St. Croix Valley Food Bank. She said, “This past year has taught us that the need for food is growing and we, as a St. Croix Valley community, need to grow our response. The data is clear – our region needs at least 6 million pounds of food this year to meet the existing hunger demands in our communities. By building upon the foundation of the United Way’s John Coughlin Food & Resource Center and greatly expanding our operations, we can help end hunger in Western Wisconsin.”

2020 Business of the Year Honorees

National Tactical Security (City of River Falls) was honored as the 2020 emerging business of the year; Laptop Chips (Villages of Roberts and Baldwin) is the 2020 small business honoree; and Nolato Contour (Village of Baldwin) is the 2020 business of the year. Former county administrator Patrick Thompson received the EDC Directors Award from the board for his numerous contributions during his tenure as administrator from 2011-2020.