Free Tuesday Trends sample: Milwaukee’s profile rising, WEDC mixed and economic optimism falling

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RISING

Milwaukee profile: The state’s largest city is set to see an economic jolt as the nation’s governors descend on Wisconsin for the National Governors Association’s annual summer meeting this weekend. Milwaukee Mayor Tom Barrett says the event will draw about 1,000 people to the city, has resulted in about 550 hotel room bookings and will have an economic impact of roughly $1 million. More importantly, however, the event will showcase the city for high-profile guests who may have never been to Milwaukee before. The Metropolitan Milwaukee Association of Commerce’s Steve Baas adds the bipartisan nature of the event will generate a positive atmosphere for the city and surrounding area. In addition to NGA sessions on issues such as health care, corrections and infrastructure, governors will also get the chance to see some of the city’s main attractions — including Discovery World at Pier Wisconsin, the Harley-Davidson Museum and a Brewers game at Miller Park.

MIXED

WEDC: The embattled Wisconsin Economic Development Corp. watches changes take effect while proposing additional reforms at its board of directors meeting near Green Bay. But some reforms still need legislative approval, and critics continue to question whether WEDC officials are doing enough to solve its issues. At the outset of the meeting, Gov. Scott Walker signs legislation requiring board members and WEDC employees to disclose any financial interests in contracts before the corporation, seeking to root out potential conflicts of interest. Walker also backs a proposal to give the board final hiring and firing power over the agency’s chief executive, operating and financial officers, and the board adopts a resolution encouraging those changes. That measure, however, must be implemented by state lawmakers, and at least one GOP member of the WEDC board expresses concerns that selected WEDC executives could wind up at odds with the governor. Meanwhile, the WEDC board also backs a modified merit pay plan after a state audit revealed previous bonuses. The new plan would allow base budget raises, small quarterly rewards or bonuses for performance-based work. Democrats, however, argued that certain bonuses — particularly compensation for top-level executives — should be tied to job creation.

FALLING

Economic optimism: The latest poll from Marquette University Law School shows economic optimism slipping in Wisconsin. The statewide survey, taken between July 15-18, showed 31 percent of respondents think the economy will get better in the next 12 months, while 20 percent say it will worsen and 45 percent expect no change. That’s more pessimistic than in the previous Marquette survey in May, when 39 percent expected improvement over the coming year, 20 percent expected conditions to worsen and 37 percent expected no change. It’s also a slight drop from the March poll, when 33 percent expected improvement, 26 expected worsening and 38 percent expected no change.