EDC Hosts April 29th Conversation on R&D Tax Credits

Trending News

EDC Hosts April 29th
Conversation on R&D Tax Credits

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!

EDC Hosts Critical Conversation: Workforce Development Begins at Birth

Trending News

EDC Hosts Critical Conversation:
Workforce Development Begins at Birth

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.

 

February 2021 Unemployment

Trending News

Month Eleven of COVID-19:
St. Croix County’s January Unemployment Rate is 4.9%

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.

Digital Transformation Recording

Trending News

Digital Transformation Event Recording

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!

January 2021 Unemployment

Trending News

Month Ten of COVID-19: St. Croix County’s January Unemployment Rate is 4.4%

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.

Digital Transformation Event

Trending News

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

Ron Anderson, UW-River Falls

Tuesday March 23, 2021
11:00am

Register here for the Zoom link

Please join St. Croix EDC on Tuesday, March 23rd starting at 11:00 a.m. for a thought provoking conversation on the digital transformation and future of technology for business and industry.

Ron Anderson, Assistant Professor of Management, UW-River Falls College of Business and Economics, Department of Management and Marketing, will lead the discussion, using this 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!

Click HERE to register for the Zoom link and to ensure your place at the meeting.

EDC Donates Business of the Year Fundraiser to Food Shelves

Trending News

EDC Donates Business of the Year Fundraiser to Food Shelves

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.

Representatives of the St. Croix Valley Food Bank received a donation from St. Croix EDC in their newly-leased warehouse on March 12, 2021

2020’s Award Winners

Trending News

St. Croix EDC Honors 2020’s Top Businesses and Individual

On February 25th, St. Croix EDC honored its 2020 business of the year winners during an event conducted on Zoom. You can watch a recording of the event here.

The 2020 honorees include National Tactical Security (City of River Falls; ‘Emerging Business of the Year’); Laptop Chips (Villages of Roberts and Baldwin; ‘Small Business of the Year’); and Nolato Contour (Villages of Roberts and Baldwin; ‘Business of the Year’).

Patrick Thompson, who served as the County Administrator for St. Croix County from 2011-2020, received the EDC Directors Award, an occasional award presented to an individual or organization in honor of contributions to economic development through innovative actions, making St. Croix County a better place to live, work, and raise a family.

Rob Kreibich, the EDC’s 2020-2021 President, served as the event’s emcee.

About the Honorees:

Launched in May 2020, National Tactical Security (NTS) is the 2020 Emerging Business of the Year (based in St. Croix County and in business for five or fewer years).  It was founded by business partners Dave Skinner and Troy Szotkowski, who also own and operate Applied Countermeasures Group, founded in 2015. NTS provided executive protection for clients who quickly and unexpectedly found themselves in harm’s way last summer as a result of unrest locally and around the globe. In just eight months NTS obtained security licensing in eight states where qualified security agents were hired. NTS provided security and consulting services for election campaigns and provide 24/7 services as needed.

Laptop Chips is the 2020 Small Business of the Year (29 or fewer employees). The company is a hardware recycler and parts supplier serving Minnesota and Wisconsin since 2010. Their clients span a broad range from Fortune 500 companies, government agencies, and educational institutions, to small businesses, and even end users.  Services include computer recycling, asset disposition, data destruction in compliance with DoD 5220,22-M standards, reverse logistics, liquidating, and downsizing or facility closure. Laptop Chips was founded by Erik Salomonsen and operates facilities in the Villages of Roberts and Baldwin.

Nolato Contour is the 2020 Business of the Year (30 or more employees). Nolato Contour is a precision plastic and silicone injection molding company that produces and supplies plastic components and finished medical devices to major medical and pharma companies in the United States. The company was launched in 2010 following Sweden-based Nolato Group’s acquisition of Contour Plastics in Baldwin, Wisconsin. The acquisition enabled Nolato to secure a North American scientific manufacturing foothold with medical technology companies. In September 2018 Nolato announced a major expansion totaling $18+ million in Baldwin, which resulted in the creation of new jobs and a corporate tax credit award from the state. Russ Steele leads Nolato Contour as its president and managing director.

Patrick Thompson is the recipient of the EDC Directors Award. He came to St. Croix County as its first county administrator in 2011 and served in that capacity until August 2020 when he accepted a similar position in Winnebago County, Illinois. Thompson led several initiatives in St. Croix and the EDC appreciated his strong support and advocacy for economic development.

Each of the winners received a plaque from the EDC as well as a Legislative Citation from the State Senate and Assembly, and numerous congratulatory letters from state, federal, and local officials.

The 27th annual awards banquet was sponsored by Accumark, Amanda Berndt REMax, Bakke Norman, Baldwin East, Baldwin LightStream, Catalyst Powered by TCO, Citizens State Bank, City of Hudson, City of New Richmond, City of River Falls, Derrick Building Solutions, First National Bank of River Falls-Prescott, First State Bank and Trust, FNC Bank, Greystone Commercial, Helmer Printing, Hudson Hospital & Clinic, JA Counter, Laptop Chips, Laser Magic, Market & Johnson, OEM Fabricators, Phillips-Medisize RCU (Royal Credit Union), Security Financial Bank, SEEK Careers and Staffing , St. Croix County, St. Croix Electric Cooperative, Studio EA, TCM, WESTconsin Credit Union, Wipfli, WITC-New Richmond, and Xcel Energy.

 

###

December 2020 Unemployment

Trending News

Month Nine of COVID-19:
St. Croix County’s December Unemployment Rate is 5.5%

On January 27th, the Wisconsin Department of Workforce Development (DWD) announced the preliminary December 2020 unemployment rates for Wisconsin’s 72 counties and the 34 cities with populations greater than 25,000 residents. St. Croix County’s December rate was estimated at 5.5%, which is higher than the final rate of 4.3% for November and October’s final rate of 4.7%. One year ago, the county’s unemployment rate was estimated at 3.6%.

DWD said preliminary unemployment rates from November to December increased in all 72 counties as well as year-over-over. The rates ranged from 3.4% in Lafayette to 11.1% in Menominee. 

Preliminary unemployment rates declined or stayed the same in three of Wisconsin’s 34 largest municipalities from November to December. Rates ranged from 3.8% in Fitchburg to 8.3% in Milwaukee.

The five counties with the lowest unemployment rates in December include Lafayette (3.4%), Calumet (3.7%), Grant (3.9%), Kewaunee (also at 3.9%), and Dane (4.0%). Menominee County had the highest rate in December at 11.1%, followed by Iron (10.0%), Adams (9.4%), Forest (8.9%), and Bayfield (also at 8.9%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 5.5%, December’s preliminary rate in Dunn is 5.1%, while Pierce reported 5.2% and Polk came in at 7.3%.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The December 2020 unemployment rate for the Twin Cities was estimated at 4.5%, which is higher than November’s final rate of 4.0% and October’s final rate of 4.2 %. The unemployment rate in the Twin Cities was 3.0% in December 2019.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in December was estimated at 5.5%, which is higher than November’s final rate of 5.3% but lower than October’s final rate of 6.0%. One year ago, the state’s seasonally adjusted rate was 3.5%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in December was estimated at 4.4%, which is lower than November’s final rate of 4.5% and October’s final rate 4.6%. Minnesota’s seasonally-adjusted rate one year ago was 3.3%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for December was estimated at 6.7%, which is the same as November’s final rate but lower than October’s final rate of 6.9%. One year ago, the U.S. rate (seasonally adjusted) was estimated at 3.5%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for December was 66.7%, which is lower than November’s final rate of 66.8% and October’s final rate of 67.4%. One year ago, Wisconsin’s labor force participation rate was also 66.9%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in December was estimated at 61.5% which is that same as November’s final rate, but lower than October’s final rate of 61.7%. One year ago, the labor force participation rate in the U.S. was 63.2%. 

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

St. Croix EDC Names Top Businesses/Individual for 2020

Trending News

St. Croix EDC Names Top
Businesses/Individual for 2020

Rob Kreibich, president of St. Croix Economic Development Corporation (EDC), announced the EDC’s selection of National Tactical Security (River Falls), Laptop Chips (Roberts-Baldwin), and Nolato Contour (Baldwin) as recipients of the 2020 Business of the Year awards in St. Croix County, Wisconsin. Patrick Thompson is the recipient of the EDC Directors Award, an occasional award presented to an individual or organization championing economic development through innovation actions, making St. Croix County an exceptional place for business, industry, and residents.

The companies will be honored during an online celebration scheduled for Thursday, February 25, 2021, starting at 5:00 o’clock p.m.

“These businesses represent the very best entrepreneurial spirit that is alive and well in St. Croix County,” said EDC President Rob Kreibich.

About the 2020 Honorees

Launched in May 2020, National Tactical Security (NTS) is the 2020 Emerging Business of the Year (based in St. Croix County and in business for five or fewer years).  It was founded by business partners Dave Skinner and Troy Szotkowski, who also own and operate Applied Countermeasures Group, founded in 2015. NTS provided executive protection for clients who quickly and unexpectedly found themselves in harm’s way last summer as a result of unrest locally and around the globe. In just eight months NTS obtained security licensing in eight states where qualified security agents were hired. NTS provided security and consulting services for election campaigns and provide 24/7 services as needed.

Laptop Chips is the 2020 Small Business of the Year (29 or fewer employees). The company is a hardware recycler and parts supplier serving Minnesota and Wisconsin since 2010. Their clients span a broad range from Fortune 500 companies, government agencies, and educational institutions, to small businesses, and even end users.  Services include computer recycling, asset disposition, data destruction in compliance with DoD 5220,22-M standards, reverse logistics, liquidating, and downsizing or facility closure. Laptop Chips was founded by Erik Salomonsen and operates facilities in the Villages of Roberts and Baldwin.

Nolato Contour is the 2020 Business of the Year (30 or more employees). Nolato Contour is a precision plastic and silicone injection molding company that produces and supplies plastic components and finished medical devices to major medical and pharma companies in the United States. The company was launched in 2010 following Sweden-based Nolato Group’s acquisition of Contour Plastics in Baldwin, Wisconsin. The acquisition enabled Nolato to secure a North American scientific manufacturing foothold with medical technology companies. In September 2019 Nolato announced a major expansion totaling $18+ million in Baldwin, which resulted in the creation of new jobs and a corporate tax credit award from the state. Russ Steele leads Nolato Contour as its president and managing director.

Patrick Thompson is the recipient of the EDC Directors Award. He came to St. Croix County as its first county administrator in 2011 and served in that capacity until August 2020 when he accepted a similar position in Winnebago County, Illinois. Thompson led several initiatives in St. Croix and the EDC appreciated his strong support and advocacy for economic development.

Event Details

This is the 27th business awards program conducted by St. Croix EDC. The online event is open to the public but reservations are required. Additional details on connecting to the event will follow.

About St. Croix EDC

The EDC was established in 1994 as a public-private business league that operates as the independent economic development arm of St. Croix County, Wisconsin. Reflective activities include marketing and communication, business retention, business expansion, business recruitment, new business incorporations, workforce development, and advocacy on behalf of business and industry. Initiatives taken by St. Croix EDC help improve the business climate of St. Croix County, allowing businesses, large and small, to grow and prosper.

For more information, contact William Rubin or Nita Dusek at (715) 381-4383.

November 2020 Unemployment

Trending News

Month Eight of COVID-19:
St. Croix County’s November Unemployment Rate is 4.3%

On December 23rd, the Wisconsin Department of Workforce Development (DWD) announced the preliminary November 2020 unemployment rates for Wisconsin’s 72 counties and the 34 cities with populations greater than 25,000 residents. St. Croix County’s November rate was estimated at 4.3%, which is lower than the final rate of 4.7% for both October and September. One year ago, the county’s unemployment rate was estimated at 3.0%.

DWD said preliminary unemployment rates from October to November declined or stayed the same in 65 of the 72 counties. The rates ranged from 2.9% in Lafayette to 10.3% in Menominee. 

Preliminary unemployment rates declined in all of Wisconsin’s 34 largest municipalities from October to November. Rates ranged from 3.2% in Fitchburg to 7.3% in Milwaukee.

The five counties with the lowest unemployment rates in November include Lafayette (2.9%), Kewaunee (3.1%), Calumet (3.2%), Clark (also at 3.2%), and Green (3.3%). Menominee County had the highest rate in November at 10.3%, followed by Forest (8.4%), Iron (8.3%), Bayfield (7.3%), and Adams (also at 7.3%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 4.3%, November’s preliminary rate in Dunn is 3.9%, while Pierce reported 4.0% and Polk came in at 5.0%.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The November 2020 unemployment rate for the Twin Cities was estimated at 3.9%, which is lower than October’s final rate of 4.2 % and September’s final rate of 5.9%. The unemployment rate in the Twin Cities was 2.7% in November 2019.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in November was estimated at 5.0%, which is lower than October’s final rate of 6.0% and September’s final rate of 5.4%. One year ago, the state’s seasonally adjusted rate was 3.5%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in November was estimated at 4.4%,  which is lower than October’s final rate 4.6% and September’s final rate of 5.9%. Minnesota’s seasonally-adjusted rate one year ago was 3.3%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for November was estimated at 6.7%, which is lower than October’s final rate of 6.9% and September’s final rate of 7.9%. The November rate represents the seventh straight month the U.S. rate has declined. One year ago, the U.S. rate (seasonally adjusted) was estimated at 3.5%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for November was 66.9%, which is lower than October’s final rate of 67.4% and September’s final rate of 67.4%. One year ago, Wisconsin’s labor force participation rate was also 66.9%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in November was estimated at 61.5% which is lower than October’s final rate of 61.7% but higher than September’s final rate of 61.4%. One year ago, the labor force participation rate in the U.S. was 63.2%. 

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

Benchmark Conversation Recording

Trending News

Recording of Benefits Benchmarking Conversation with Linda Skoglund

An informative conversation on benefits benchmarking with Linda Skoglund, managing partner of JA Counter, an Alera Group Company was held on Tuesday December 15, 2020. You can rewatch the Zoom event by clicking the link here until December 29.  If you have any additional questions, please reach out to Amber Richardson at arichardson@jacounter.com, or you can reach her at JA Counter 715-246-8063.

Now in its tenth year, the Western Wisconsin Benefits Benchmarking survey was recently completed by JA Counter.  In addition to the usual benchmarks around benefits, the JA Counter team identified themes found within the survey as well as emerging trends employers will see in the upcoming year(s). Those themes include the ongoing talent shortage driving the need to effectively communicate culture as a top priority, with increasing trends in employer innovation to offer a Total Rewards style benefits package valued by employees in all stages of life and career.

October 2020 Unemployment

Trending News

Month Seven of COVID-19:
St. Croix County’s October Unemployment Rate is 4.5%

On November 25th, the Wisconsin Department of Workforce Development (DWD) announced the preliminary October 2020 unemployment rates for Wisconsin’s 72 counties and the 34 cities with populations greater than 25,000 residents. St. Croix County’s October rate was estimated at 4.5%, which is lower than September’s final rate of 4.7% and August’s final rate of 6.3%. One year ago, the county’s unemployment rate was estimated at 2.6%.

DWD said preliminary unemployment rates from September to October decreased in eight (8) of the 72 counties over the month. The rates ranged from 3.1% in Clark to 14.3% in Menominee. 

Preliminary unemployment rates declined in three (3) of Wisconsin’s 34 largest municipalities from September to October. Rates ranged from 3.6% in Fitchburg to 8.6% in Milwaukee.

The five counties with the lowest unemployment rates in October include Clark (3.1%), Pepin (also at 3.1%), Kewaunee (3.2%), Lafayette (also at 3.2%), and Taylor (also at 3.2%). Menominee County had the highest rate in October at 14.3%, followed by Forest (10.4%), Iron (8.0%), Milwaukee (7.6%), and Adams (7.3%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 4.5%, October’s preliminary rate in Dunn is 3.9%, while Pierce reported 4.0% and Polk came in at 4.5.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The October 2020 unemployment rate for the Twin Cities was estimated at 4.2% which is lower than September’s final rate of 5.9% and August’s final rate of 7.8%. The unemployment rate in the Twin Cities was 2.5% in October 2019.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in October was estimated at 5.7%, which is higher than September’s final rate of 5.4% and August’s final rate of 6.3%. One year ago, the state’s seasonally adjusted rate was 3.5%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in October was estimated at 4.6%, which is lower than September’s final rate of 5.9% and August’s final rate of 7.4%. Minnesota’s seasonally-adjusted rate one year ago was 3.3%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for October was estimated at 6.9%, which is lower than September’s final rate of 7.9% and August’s final rate of 8.4%. The October rate represents the sixth straight month the rate has declined. One year ago, the U.S. rate (seasonally adjusted) was estimated at 3.6%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for October was 67.2%, which is lower than September’s final rate of 67.4% and  August’s final rate of 65.6%. One year ago, Wisconsin’s labor force participation rate was 67.0%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in October was estimated at 61.7% which is higher than September’s final rate of 61.4% and the same as August’s final rate of 61.7%. One year ago, the labor force participation rate in the U.S. was 63.3%. 

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

EDC Hosts Conversation with Linda Skoglund

Trending News

EDC Hosts Benefits Benchmarking Conversation with Linda Skoglund on December 15th

Please join St. Croix EDC on Tuesday, December 15th starting at 11:00 for an informative conversation on benefits benchmarking with Linda Skoglund, managing partner of JA Counter, an Alera Group Company.

Now in its tenth year, the Western Wisconsin Benefits Benchmarking survey was recently completed by JA Counter.  In addition to the usual benchmarks around benefits, the JA Counter team identified themes found within the survey as well as emerging trends employers will see in the upcoming year(s). Those themes include the ongoing talent shortage driving the need to effectively communicate culture as a top priority, with increasing trends in employer innovation to offer a Total Rewards style benefits package valued by employees in all stages of life and career.

Join the discussion with Linda Skoglund on JA Counter’s local and national benchmarking results as well as how employers are rising to the challenge to offer unique benefits to attract and retain their workers.

About Linda Skoglund

Linda is the managing partner of JA Counter, an Alera Group Company. An insurance industry leader, she is responsible for the agency’s strategic direction and continued growth. She oversees JA Counter’s employee benefit and consulting practice while managing the organization’s vision, direction and client relationships.  Linda has specialized expertise in areas of benefits consulting, regulatory compliance, benefits administration and insurance product design.  She is the lead benefit consultant for large employer groups, specializing in the public sector.

RSVP to nita@stcroixedc.com for the Zoom link to ensure your place at the meeting.

EDC Hosts Conversation with Scott Hodek

Trending News

EDC Hosts Conversation with Scott Hodek

On Thursday, December 3, 2020 starting at 11:00 a.m., please join St. Croix EDC for an interactive conversation with Scott Hodek, Chief, Office of Economic Advisors, Wisconsin Department of Workforce Development.

The COVID-19 pandemic is a game changer on many fronts, including unemployment, workforce trends, labor force participation, and consumer spending. Mr. Hodek will present timely information on current economic conditions and realities, along with potential solutions for the St. Croix Valley, State of Wisconsin, and United States.

RSVP to nita@stcroixedc.com for the Zoom link to ensure your place at the meeting.

Nominations Open for 2020 Business Of The Year

Trending News

Nominations Open for 2020 Business of the Year

2019 Business of the Year Honorees include (l to r) Suzanne and Pablo Sotelo, Gallery 77 (Emerging Business of the year); Tim Westby, TurnKey Corrections / Three Square Market (Business of the Year); S. Mark Tyler (EDC Directors Award); John Knutson, Catalyst Sports Medicine – now Catalyst Powered by TCO (Small Business of the Year); and Scott Jones, St. Croix EDC President (2019-2020)

St. Croix EDC is accepting nominations for its 2020 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)

Qualifying companies must be involved in manufacturing, distribution, construction, health care, or must be a service provider to other companies. Companies must be operated for profit. (Retail companies are not eligible.)

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

Criteria include:
*Recent Noteworthy Accomplishments: i.e. milestone anniversary, physical plant expansion, new product line, increases in employment,   sales increases, pollution control advances, new training programs, export sales, or any other significant advances.
*Contributions to Enhance the Community:
*Contributions to community projects, service to area youth, education programs, and other efforts to increase the quality of life in the area.

The honorees will be announced in January and recognized at an event in mid-February. The format of the event is yet to be determined.

A nomination form and guidelines can be obtained by clicking here or contacting Nita Dusek at nita@stcroixedc.com or (175) 381-4383. The deadline to submit is Friday, December 18, 2020 at the close of business.

September 2020 Unemployment

Trending News

Month Six of COVID-19:
St. Croix County’s September Unemployment Rate is 4.8%

On October 21st, the Wisconsin Department of Workforce Development (DWD) announced the preliminary September 2020 unemployment rates for Wisconsin’s 72 counties and the 34 cities with populations greater than 25,000 residents. St. Croix County’s September rate was estimated at 4.8%, which is lower than August’s final rate of 6.3% and July’s final rate of 7.8%. One year ago, the county’s unemployment rate was estimated at 2.6%.

DWD said preliminary unemployment rates from August to September decreased in all 72 counties over the month. The rates ranged from 2.6% in Kewaunee to 12.8% in Menominee.

Preliminary unemployment rates declined in all of Wisconsin’s 34 largest municipalities from August to September. Rates ranged from 3.5% in Oshkosh to 8.4% in Milwaukee.

The five counties with the lowest unemployment rates in September include Kewaunee (2.6%), Clark (2.8%), Lafayette (also at 2.8%), Taylor (2.9%), and Calumet (3.1%). Menominee County had the highest rate in September at 12.8%, followed by Forest (10.9%), Iron (8.2%), Milwaukee (7.3%), and Jackson (also at 7.3%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 4.8%, September’s preliminary rate in Dunn is 3.6%, while Polk reported 4.5% and Pierce reported 4.6%.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The September 2020 unemployment rate for the Twin Cities was estimated at 6.0%, which is lower than August’s final rate of 7.8% and July’s final rate of 8.2%. The unemployment rate in the Twin Cities was 2.5% in September 2019.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in September was estimated at 5.4%, which is lower than August’s final rate of 6.3% and July’s final rate of 7.1%. One year ago, the state’s seasonally adjusted rate was 3.4%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in September was estimated at 6.0%, which is lower than August’s final rate of 7.4% and July’s final rate of 7.6%. Minnesota’s seasonally-adjusted rate one year ago was 3.2%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for September was estimated at 7.9%, which is lower than August’s final rate of 8.4% and July’s final rate of 10.2%. One year ago, the U.S. rate (seasonally adjusted) was estimated at 3.5%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for September was 67.3%, which is higher than August’s final rate of 65.6% and July’s final rate of 64.9%. One year ago, Wisconsin’s labor force participation rate was 67.0%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in September was estimated at 61.4%, which is lower than August’s final rate of 61.7% and the same as July’s final rate of 61.4%. One year ago, the labor force participation rate in the U.S. was 63.2%.

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

Forward Analytics – Dale Knapp

Trending News

A Conversation with Dale Knapp of Forward Analytics

Dale Knapp
Director, Forward Analytics

An interactive conversation with Demographer Dale Knapp of Forward Analytics, Focusing on Demographic Trends Impacting Businesses in Western Wisconsin was held on Wednesday October 7, 2020. You can view and/or download the recording here until November 7, 2020, the slides from the presentation here, and the information he referred to here.

Dale publishes research and analysis on a variety of economic and public policy issues facing the State of Wisconsin. He has written extensively on Wisconsin school finance, the state economy and demographics, and state fiscal health. Prior to joining the Wisconsin Counties Association and Forward Analytics, Dale spent almost 18 years with the Wisconsin Taxpayers Alliance.

Forward Analytics is a Wisconsin-based research organization that provides state and local policymakers with nonpartisan analysis of issues affecting the state. The mission of Forward Analytics is to use the best data available to highlight challenges facing the state, and to assist policymakers in understanding that data so they can make informed policy decisions.

Forward Analytics was created in 2018 and is a division of the Wisconsin Counties Association.

Recent research publications from Forward Analytics include The Rural Challenge, Depopulation and its Economic Consequences; and Economic Activity in a Pandemic: Wisconsin Taxable Sales in March and April.