Contact: Steve R. Jenkins, FCEDC President, 920.929.2063 or [email protected]
The Fond du Lac metro (Fond du Lac County) continued to exhibit strength in the presence and growth of businesses employing high technology in their operations. The Milken Institute, a nonpartisan economic think tank, has ranked the Fond du Lac metro 8th out of 201 small metros in 2015 for five-year growth of high technology Gross Domestic Product (GDP), the value of goods and services produced. In 2014, the metro ranked 34th or an improvement of 26 positions. In 2014, 179 small metros were ranked.
The Fond du Lac metro also saw an improvement in ranking relative to the concentration of Gross Domestic Product supported by high-technology operations. In 2015, the metro ranked 48th out of 201 small metros moving up from 68th in 2014. Additionally, the metro ranked 9th in terms of the number of high-technology operations which was a slight decline from 7th in 2014.
These rankings clearly show a strong and steady growth in high-technology processes utilized in Fond du Lac County to produce goods and services. Although this is primarily in the manufacturing sector, there are other sectors employing technology in business operations.
According to data from the United States Conference of Mayors and Global Insight (IHS), the Fond du Lac metro has experienced a steady increase in the overall Gross Metro Product (GMP or the total value of all goods and services produced at prices in the year of measurement) increasing from $3.9 billion in 2012 to $4.4 billion in 2014 (latest verified data) for a 12.8% increase over the three years. By comparison, the gain for Wisconsin during that same period was 8.3%. The Fond du Lac County manufacturing sector made up 27.5% of the metro’s GMP in 2014 followed by Health Care and Social Services at 10.5% and Finance, Insurance, and Real Estate at 8%. Neighboring metros experienced the following gains: Oshkosh-10.7%, Appleton-10.6% and Sheboygan-16.4%. The projected GMP for the Fond du Lac metro in 2015, once the data is assembled, is $4.5 billion and $4.7 billion in 2016.
The Milken Institute also reported the rankings for 201 small metros in terms of total economic performance. In 2015, the Fond du Lac metro ranked 37th in the nation. Factors analyzed in this ranking include:
• Job Growth (2009-2014)
• Job Growth (2013-2014)
• Wage and Salary Growth (2008-2013)
• Wage and Salary Growth (2012-2013)
• Short-term Job Growth (8/2014-8/2015)
• High-tech Gross Domestic Product (GDP) Growth (2009-2014)
• High-tech GDP Growth (2013-2014)
• High-tech GDP Concentration (2014)
• Number of High-tech Industries that are Clustered (2014)
“These data by third-party sources substantiates that the Fond du Lac County economy is currently strong”, noted Steve Jenkins, president of the Fond du Lac County Economic Development Corporation. “Although these data are to be celebrated, we must prepare for a new, evolving economy that keeps us competitive and will produce equal or better rankings in the future.”
The evolving new economy demands a more skilled workforce, especially in science, technology, engineering and mathematics (S.T.E.M.); a focus on innovation in both the private and public sectors that generate new ideas and enterprises; entrepreneurship that creates new economic opportunities and new business formations; and the ability to attract and support whole new sectors that may not even exist today. The new economy will be driven by technology, innovation and productivity across all sectors.
The mission of Fond du Lac County Economic Development Corporation is to aggressively pursue, promote and facilitate economic opportunities and growth for Fond du Lac County
through the attraction, retention, expansion and development of jobs and investments that
increase the standard of living for all communities and residents.
For more information about FCEDC and its services, please visit www.fcedc.com.