By Brian E. Clark
WisBusiness.com
MADISON – Dane County continues to be an island of prosperity compared to other parts of the state, Mark Meloy, president of First Business Bank, said today.
Meloy, who has worked in the Fox Valley and Milwaukee, spoke after the release of the First Business Economic Survey of Dane County Wednesday morning at the Fluno Center on the UW-Madison campus.
He said a shaky stock market, uncertain housing market and rising gas prices are making business leaders cautious about 2008, but he said the survey shows that four of five think they will do better than in 2007.
“The Madison area is much more service oriented, rather than industrial as in other areas I’ve been,” said Meloy. “The university generates high-tech and other businesses, we have state government, so we will continue to do better than other regions.”
A panel of company owners leaders at the gathering backed Meloy’s sentiments, with most of them saying they expect be profitable in 2008. And all said they felt fortunate to do the majority of their business in this area.
Even though the manufacturing sector is expected to slow next year, Meloy said he doesn’t think it will be a major downturn.
“I believe our manufacturing is stronger than we give it credit for,” he said. “The companies we have now in that area are survivors. They’ve had to focus on their markets and manage their operations to be as nimble as possible.”
