On April 29th, West Central Wisconsin Regional Planning Commission (WCWRPC) announced its administration of a $510,000 Community Development Block Grant (CDBG) Coronavirus (CV) award from the Wisconsin Department of Administration to establish a Microenterprise Grant Program for west central Wisconsin.

The grant program provides up to $5,000 to eligible small businesses located in St. Croix, Barron, Chippewa, Clark, Dunn, Eau Claire (excluding the City of Eau Claire), and Polk counties to cover working capital needs resulting from the COVID-19 pandemic.

Eligible businesses must be located in one of the counties (above); employ five or fewer employees; were established prior to February 5, 2020; be current on income and property taxes; and be owned by a person(s) of qualifying income(s), as outlined in the application materials.

Governmental units or businesses primarily engaged with crop production, animal production or aquaculture, lessors of real estate, and nonprofit organizations are not eligible for this grant opportunity.

The Microenterprise Grant application period starts at Noon on Tuesday, June 1 through Noon on Tuesday, June 15th.

Eligible, interested businesses should visit www.wcwrpc.org to download the program details, eligibility criteria, and application.

Valerie Fedie of Wipfli, LLP gave a fast paced, very informative presentation on Research and Development Tax Credit opportunities on April 29, 2021. You can watch the recording here until mid May.

On April 21st, the Wisconsin Department of Workforce Development (DWD) announced the preliminary March 2021 unemployment rates for Wisconsin’s 72 counties and the 34 cities with populations greater than 25,000 residents. St. Croix County’s March rate was estimated at 4.5%, which is lower than February’s final rate of 5.0% but higher than January’s final rate of 4.4%. One year ago, the county’s unemployment rate was estimated at 4.5%.

DWD said preliminary unemployment rates from February to March declined or stayed the same in 63 of 72 counties as well as in 70 counties. The rates also declined or stayed the same in 13 counties year-over-year. The rates ranged from 3.5% in Dane to 9.4% in Forest. 

Preliminary unemployment rates declined or stayed the same in 24 of Wisconsin’s 34 largest municipalities from February to March, but increased in 33 cities year over year. Rates ranged from 3.3% in Muskego to 7.7% in Racine.

The five counties with the lowest unemployment rates in March include Dane (3.5%), Calumet (3.6%), Ozaukee (3.7%), Sheboygan (3.7%), Grant (3.8%), and Kewaunee (also at 3.8%). Forest County had the highest rate in March at 9.4%, followed by Menominee (9.2%), Iron (9.1%), Bayfield (8.5%), and Adams (8.3%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 4.5%, March’s preliminary rate in Pierce is at 4.6%, while Dunn is at 4.7% and Polk came in at 6.1%.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The March 2021 unemployment rate for the Twin Cities was estimated at 4.3%, which is lower than February’s final rate of 4.6% and January’s final rate of 4.8%. The unemployment rate in the Twin Cities was 3.1% in March 2020.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in March was estimated at 3.8%, which is the same as the final rates for both February and January. One year ago, the state’s seasonally adjusted rate was 3.2%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in March was estimated at 4.2% which is lower than February’s final rate of 4.4% and January’s final rate of 4.5%. Minnesota’s seasonally-adjusted rate one year ago was 3.5%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for March was estimated at 6.0%, which is lower than February’s final rate of 6.2% and January’s final rate of 6.3%. One year ago, the U.S. rate (seasonally adjusted) was estimated at 4.4%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for March was estimated at 65.7%, which is higher than February’s final rate of 65.6% and January’s final rate of 65.0%. One year ago, Wisconsin’s labor force participation rate was 65.9%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in March was estimated at 61.5%, which is higher than the final rate of 61.4% for both February and January. One year ago, the labor force participation rate in the U.S. was 62.6%. 

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

On April 15, well-regarded, expert panelists shared short (3 to 5 minute) presentations on how Early Childhood Development is the best economic development investment a community or region can make. It was presented by Family Resource Center St. Croix Valley, Family Friendly Workplaces, and St. Croix EDC. You can view the recording here.

Please join St. Croix EDC on Thursday, April 29th starting at 11:30 a.m. for an informative conversation on Research and Development Tax Credit opportunities with Valerie Fedie of Wipfli, LLP. Click here to register.

Based out of Wipfli’s Eau Claire office, Valerie is a market leader for western Wisconsin and northern Minnesota and oversees the firm’s research and development (R&D) tax consulting services. Valerie brings extensive knowledge in R&D tax credits to her tax consulting engagements. She consults with a wide range of companies to maximize their R&D tax credits, while also helping clients overcome challenges and leverage opportunities with new product and process improvements. She has particular expertise in R&D tax credit incentive projects, IRS Section 174 deductibility analysis, and federal and state audit defense support.

Changes to IRS regulations and recent developments now provide greater opportunities for companies to qualify for the credits. Definitions of R&D activities are broader, and as the list of qualifying activities grows, it is much easier for a wide array of companies to qualify many of their activities as R&D.

For many companies, the federal R&D tax credit has been a valuable tax planning opportunity since it became part of the tax code in 1981. The R&D tax credit provides a dollar-for-dollar reduction in tax liability, allowing companies of all sizes to reduce their taxes and increase cash flow, yet the R&D tax credit is still often overlooked.

During the EDC webinar, attendees will gain a solid understanding of the R&D tax credit as well as the enhanced opportunities for companies to qualify.

The webinar is not only intended for business owners, presidents, CEOs, CFOs, and controllers, but also for bankers and other advisors to business owners so they are aware of the opportunities many companies are not taking advantage of. To maximize the benefit of the webinar, we also recommend including operations executives directly involved in R&D related to both product development and process development or improvement activities.

Click here to register and receive the Zoom link!

Please join the Family Resource Center St. Croix Valley, Family Friendly Workplaces, and St. Croix EDC on Thursday, April 15th starting at 11:00 a.m. for a critical conversation on Workforce Development Beginning at Birth.

Well-regarded, expert panelists will each share short (3 to 5 minute) presentations on how Early Childhood Development is the best economic development investment a community or region can make.

Presenters include an Associate Professor of Pediatrics, a Co-Founder and Chairman of a top St. Croix County-based manufacturing company, an Economist with the Minneapolis Federal Reserve Bank, a local school district Special Education Director, a Parent Educator, a Wisconsin Early Childhood Association Engagement Director, and more.

The Challenge: St. Croix Valley employers are facing tremendous challenges in recruiting and retaining a qualified workforce.

The Problem Is Not Going Away: Wisconsin’s 2018 birthrates are the lowest since 1978. We now have the loss of young people and families, and as a result, a shortage of qualified employees.

Why Early Childhood?: According to research conducted by the Federal Reserve Bank of Minneapolis, every dollar invested in early childhood development brings a $16 return to society.

Join us in making a difference in the future of your business and our communities.

From this zoom webinar, employers and human resource leaders will learn that well-focused investments in early childhood programs having lasting positive returns, building a strong workforce, strengthening children, families, and communities.

Register at https://tinyurl.com/wdbab to receive your Zoom link.

On March 31st, the Wisconsin Department of Workforce Development (DWD) announced the preliminary February 2021 unemployment rates for Wisconsin’s 72 counties and the 34 cities with populations greater than 25,000 residents. St. Croix County’s February rate was estimated at 4.9%, which is higher than January’s final rate of 4.4% and the final rate of 4.3% for December. One year ago, the county’s unemployment rate was estimated at 4.2%.

DWD said preliminary unemployment rates from January to February increased in all 72 counties as well as in 70 counties year-over-year. The rates ranged from 3.5% in Dane to 9.4% in Menominee. 

Preliminary unemployment rates increased or stayed the same in all of Wisconsin’s 34 largest municipalities from January to February. Rates ranged from 3.3% in Madison to 7.7% in Racine.

The five counties with the lowest unemployment rates in February include Dane (3.5%), Calumet (3.6%), Ozaukee (3.7%), Marathon (3.8%), and Sheboygan (also at 3.8%). Menominee County had the highest rate in February at 9.4%, followed by Iron (8.9%), Forest (also at 8.9%), Adams (also at 8.9%), and Bayfield (8.5%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 4.9%, February’s preliminary rate in Dunn is also at 4.9%, while Pierce is at 5.1% and Polk came in at 6.7%.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The February 2021 unemployment rate for the Twin Cities was estimated at 4.4%, which is lower than January’s final rate of 4.8% and December’s final rate of 4.5%. The unemployment rate in the Twin Cities was 3.1% in February 2020.

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

The preliminary (seasonally adjusted) unemployment rate in Minnesota in February was estimated at 4.3%, which is lower than January’s final rate of 4.5% and December’s final rate of 4.7%. Minnesota’s seasonally-adjusted rate one year ago was 3.3%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for February was estimated at 6.2%, which is lower than January’s final rate of 6.3% and December’s final rate of  6.7%. One year ago, the U.S. rate (seasonally adjusted) was estimated at 3.5%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for February was 65.6%, which is higher than January’s final rate of 65.0% and December’s final rate of 65.5%. One year ago, Wisconsin’s labor force participation rate was 66.1%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in February was estimated at 61.4%, which is the same as January’s final rate but lower than the final rate of 61.5% for December. One year ago, the labor force participation rate in the U.S. was 63.3%. 

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