Wednesday, March 24, 2004
Contacts: Jessica Erickson, Governor’s Office – 608 261 2156
Jerome Chen, TrafficCast, (608) 273-4740 x.12
— DIGITAL PHOTO AVAILABLE ON WWW.WISGOV.STATE.WI.US —
Deal Will Mean Significant New Investments for High Tech
Wisconsin Company and Dozens of New Jobs in Wisconsin
SHANGHAI – On day four of Governor Jim Doyle’s trade mission
to China, TrafficCast, a Madison based technology and software company,
signed two major agreements with the City of Shanghai that will result in
new investments worth tens of millions of dollars and will create dozens of
new jobs in Wisconsin.
“This deal shows the tremendous potential for innovative
Wisconsin companies to play a role as China is rapidly upgrading and
modernizing its infrastructure,” Governor Doyle said. “This is a major coup
for Wisconsin, but it is just the tip of the iceberg. China is growing at a
pace and a scale that is unparalleled in history, and that means serious
opportunities for Wisconsin companies to create new jobs.”
“TrafficCast is honored to play a part in helping Shanghai
manage its growth and development as a modern city,” said Connie Li, Chief
Operating Officer of TrafficCast. “We are pleased that this investment will
help us to create high-paying jobs in Wisconsin.”
TrafficCast, which has 35 employees in Madison but will need
to expand its operations to more than 60 employees to complete the contract,
produces real time and predictive traffic databases and software. The
company helps municipal governments manage traffic flows, and helps
individual drivers to find the most direct route to their destination while
avoiding traffic congestion. Their largest clients include Yahoo!, AT&T
Wireless, Verizon Wireless, U.S. Cellular, and the U.S. Department of
Defense, which relies on TrafficCast to help them move convoys and personnel
around the country as efficiently as possible.
Li signed two Memorandums of Understanding late Wednesday
with the City of Shanghai to build a prototype system to provide traffic
information on websites, cell phones, PDAs, radio and television in
Shanghai. The city of 20 million people has 1.6 million cars – a number
that is growing at 14 percent annually.
The MOU will mean a joint investment worth tens of millions
of dollars to bring the system online in Shanghai. It will require the
company to expand its Madison operations, and will also result in numerous
subcontracting opportunities for other Wisconsin firms.
Li said that signing the agreement as part of a delegation
led by a state Governor helps give the company added status and credibility
in China. She also said it would help the company as it seeks similar
agreements with Beijing, Guangzhou, and Tianjin, which along with Shanghai
are the four largest cities in China. Earlier this week, Wisconsin Commerce
Secretary Cory Nettles joined TrafficCast in talks with Beijing officials
over a potential agreement with that city.
The Signing Ceremony was witnessed by Governor Doyle and
Jiang Miankang, Director of the Shanghai City Development Research and
Information Center and son of former Chinese President Jiang Zemin.
Individuals interested in following the trade mission can
check out the Governor’s daily blog by going to the Governor’s website at
www.wisgov.state.wi.us and clicking on China Trade Mission. The blog
includes the Governor’s reflections on the trip, pictures, and soundclips.
A digital photo of Signing Ceremony can also be found on the
Governor’s blog at www.wisgov.state.wi.us.