— The latest report from the Metropolitan Milwaukee Association of Commerce details the economic recovery of Wisconsin’s largest city.
In the report for June, 20 of the 22 economic indicators tracked had improved over the year. An equal number had shown improvement in May, the previous report showed.
“This positive year-over-year trend is partly due to the extreme depth that most indicators reached one year ago, as well as the continuing progress made toward a fuller recovery over one year later,” said Bret Mayborne, economic research director for the MMAC.
The report also shows employment in Milwaukee improving compared to last year’s low point, though job numbers are still below pre-pandemic levels. Since that time, the metro area has recovered approximately 66,200 non-farm jobs, which is 59 percent of the 112,400 jobs initially lost due to the impact of the pandemic on the area’s economy, according to MMAC.
“In terms of employment, our metro area remains on a good path to recovery but has not yet returned to pre-pandemic levels,” Mayborne said in a release. “We saw strong growth in leisure and hospitality jobs in June, an area that was among the hardest hit during the pandemic.”
This sector saw a 21.4 percent increase in jobs over the year, the report shows. Eight of Milwaukee’s 10 “major industry sectors” had increased jobs over the year in June, while financial activities, and construction, mining and natural resources each saw a decrease of around 5 percent.
Meanwhile, manufacturing employment in Milwaukee increased 4.5 percent in June over the year; May’s increase was 3.7 percent over May 2020. At the same time, indicators for manufacturing production levels and earnings also improved in June, the report shows.
See the full report: https://www.wisbusiness.com/wp-content/uploads/2021/08/08052021_MMAC.pdf
— NorthStar Medical Radioisotopes and GE Healthcare have signed an exclusive agreement for the manufacturing and distribution of iodine-123 capsules in the United States, NorthStar announced recently.
Iodine-123 is a radioactive form of iodine that’s used in diagnosing thyroid cancer.
According to a release, GE Healthcare’s Pharmaceutical Diagnostics unit will manufacture and supply NorthStar with these capsules under the NorthStar label using a new production system at its facility in Illinois.
After the receipt of the required regulatory approvals, Beloit-based NorthStar will retain exclusive U.S. marketing and distribution rights for the I-123 capsules.
“This exclusive sales and manufacturing agreement marks NorthStar’s strong and growing relationship with GE Healthcare, and we look forward to working with the company in meeting the needs of radiopharmacy customers and the patients we all serve,” NorthStar Medical Radioisotopes CEO Stephen Merrick said in a statement.
The financial terms of the deal were not disclosed.
See more at Madison Startups: https://www.madisonstartups.com/northstar-ge-healthcare-sign-exclusive-agreement/
— Marquette University’s Neuro Recovery Clinic will receive extra funding for equipment and staff thanks to a $2 million donation to the university’s College of Health Sciences.
A release shows the anonymous donation will also support scholarships for students in the university’s physical therapy program.
The Neuro Recovery Clinic is an on-campus training center where people living with “life-altering” brain and spinal cord injuries and illnesses can receive rehabilitation including physical therapy and speech therapy.
“This gift provides important opportunities for our students and faculty within the College of Health Sciences,” said Dr. William E. Cullinan, the college’s dean. “But it also makes a powerful impact on our community through our Neuro Recovery Clinic that treats patients across the city, state and region.”
See more on the clinic here: https://www.marquette.edu/neuro-recovery-clinic/services.php
— A Madison-based startup called Rentable with an e-commerce rental platform recently raised $22.5 million in a Series B investment round.
The round was led by Susquehanna Growth Equity, a private equity and venture capital firm based in Philadelphia. Rentable was formerly called ABODO.
“Our team is rapidly working to transform the rental experience from a classifieds model to an e-commerce model, where renters can search, tour and apply for apartments from their couch,” Rentable CEO Alec Slocum said in a statement. “We are excited to be partnering with SGE to supercharge the ability to bring our vision to life.”
A release shows these funds will be used to further develop products while the company works to double its workforce over the next 12 months, including sales, engineering, business development and its executive team.
Rentable’s marketplace is used by millions of renters.
# State offers businesses thousands to fill vacant commercial properties
# Construction to begin on new agricultural export terminal in the Port of Milwaukee
# Charts show 2020 was not as bad a year for the dairy industry, but the crisis continues
– DFW recognized for professional training efforts
– DHS, DPI release guidance for next school year
– University of Wisconsin removes rock seen as sign of racism
– Environmental groups want agency to review climate impacts of Superior gas plant
– Wild whitetail deer found with coronavirus antibodies in four-state USDA study raise questions on transmission
# FINANCIAL SERVICES
– Few are eligible for pandemic unemployment overpayment waivers
# HEALTH CARE
– The Delta variant is surging. Here’s how Wisconsinites can help stop its spread.
– Northwestern Mutual implements vaccine requirement for on-campus employees
– When hate crime laws leave out transgender people
– Top Workplaces 2021: Wisconsin businesses, industries make changes during challenging coronavirus pandemic year
– Rexnord spinoff of industrial business could supercharge operation
– Emergency management administrator announces U.S. Senate run
– Republican lawmaker seeks to seize ballots and voting machines in Milwaukee and Brown counties
– Wisconsin native Emily Sisson triumphs over disappointment
– Gordon Flesch Co. secures naming rights to newest seating section at Lambeau Field
– Wisconsin State Fair returns with some COVID-19 tweaks
# PRESS RELEASES
<i>See these and other press releases: