WED WB Summary: WMC survey shows increasing economic pessimism among members

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— WMC’s members are more pessimistic about the state and national economy than they were six months ago, with 71 percent of those surveyed expecting a recession in the next year.

Four in 10 expect it before year’s end, according to the results from the latest survey.

Wisconsin Manufacturers & Commerce surveys members twice a year on various topics related to the economy. This survey included 216 employers that make up a representative sample of the group’s membership.

Six months ago, 65 percent said they expected the state’s economy to grow over the next six months. Now, 45 percent believe that.

On the national level, three in 10 believe the U.S. economy will grow over the next six months.

Forty-four percent of the business group’s members rated the Wisconsin economy as strong, while 47 percent described it as moderate and 9 percent weak.

Twenty-six percent of members rated the U.S. economy as strong, while half called it moderate and 27 percent weak.

See more from the survey:
https://www.wispolitics.com/wp-content/uploads/2022/07/220706WMC.pdf

— The Wisconsin Housing and Economic Development Authority is now accepting grant applications from groups to help Wisconsinites meet housing needs.

The WHEDA Foundation will announce $1 million in funds in December. The money will be awarded to groups that “provide emergency shelter, transitional residences, and extremely low-income housing,” according to a release. Grants go up to $50,000 in two categories: emergency/transitional housing and permanent housing. The money will be used to fund physical improvements.

“As the Foundation has for the last 38 years, we look forward to seeing the innovative ideas from the many amazing partners who are doing great work to fulfill the housing needs of their communities,” said WHEDA CEO Elmer Moore Jr.

WHEDA aims to use the funds to improve housing for Wisconsinites who have “complex needs” such as developmental or intellectual disabilities, those experiencing intimate partner violence or youth homelessness, and mental or behavioral conditions, among other things.

See the release:
https://www.wisbusiness.com/2022/wheda-foundation-opens-2022-housing-grant-cycle/

— The Department of Workforce Development’s online unemployment portal and initial claim application are now available in Spanish.

In order to access the feature, users should select the “Espanol” link at the login page.

Previously, non-English speakers could only access the service through in-person or phone interpretation. Claimants have been able to file online unemployment insurance claims in Spanish since 2017.

DWD Secretary-designee Amy Pechacek said the change is an “important accomplishment” in a broader effort to make online services more accessible, including for people who aren’t fluent English speakers and those with disabilities.

See the release:
https://www.wisbusiness.com/2022/dept-of-workforce-development-continues-customer-service-enhancements-2/

‘A paradigm shift’: Companies wrestle with implementing diversity, equity, inclusion initiatives, while others grow with the change
https://www.jsonline.com/story/money/2022/07/05/companies-wrestle-implementing-diversity-inclusion-initiatives/7716898001/

State cheese production falls for third straight month
http://wisconsinagconnection.com/story-state.php?Id=668&yr=2022

STORY TOPICS

BANKING
– UW Credit Union to open branch at planned East Side development
https://biztimes.com/uw-credit-union-to-open-branch-at-planned-east-side-development/

CONSTRUCTION
– Consolidated Construction acquires James J. Calmes in Kaukana
https://dailyreporter.com/2022/07/05/consolidated-construction-acquires-james-j-calmes-in-kaukana/

– Part of West Ave to close starting Friday for La Crosse Street construction project
https://lacrossetribune.com/news/local/govt-and-politics/part-of-west-ave-to-close-starting-friday-for-la-crosse-street-construction-project/article_ac2d0af4-fc73-11ec-a0ac-fb4399e0bee4.html

ECONOMY
– Inflation, interest rates add new wrinkles to region’s tough housing market
https://www.postcrescent.com/story/money/2022/07/05/cost-homes-sale-green-bay-appleton-oshkosh-fond-du-lac-increase-interest-rate-hikes/7698924001/

HEALTH CARE
– Wisconsin reports first confirmed case of monkeypox
https://apnews.com/article/wisconsin-madison-fc25c28ec87fd34711ead82e82f0f074

– Advocate Aurora, Atrium await regulatory approvals for business combination
https://www.bizjournals.com/milwaukee/news/2022/07/05/advocate-aurora-atrium-await-regulatory-approvals.html

MANUFACTURING
– Husco awarded $50 million contract with global electric vehicle automaker
https://www.jsonline.com/story/money/business/2022/07/05/waukeshas-husco-working-boost-battery-life-electric-vehicles/7470188001/?gnt-cfr=1

REAL ESTATE
– East side Milwaukee investors gobble up Ma Baensch building
https://www.bizjournals.com/milwaukee/news/2022/07/05/east-side-investors-gobble-up-ma-baensch-building.html

– Menard’s proposal to develop an outdoor self-storage business near Milwaukee’s former Northridge Mall is rejected by a city panel
https://www.jsonline.com/story/money/real-estate/commercial/2022/07/01/menard-inc-proposed-self-storage-center-near-northridge-rejected-milwaukee/7783420001/

SPORTS
– Bucks Gaming hosts first-ever youth summer camp for esports
https://www.bizjournals.com/milwaukee/news/2022/07/04/bucks-gaming-esports-youth-summer-camp.html

TOURISM
– Sand Valley golf resort in Central Wisconsin boosts a rural economy
https://www.jsonline.com/in-depth/money/2022/07/05/sand-valley-golf-resort-has-boosted-economy-rome-central-wisconsin/7468924001/

TRANSPORTATION
– MobiliSE receives over $4M from state to expand FlexRide Milwaukee rideshare program
https://www.bizjournals.com/milwaukee/news/2022/07/04/mobilise-flexride-rideshare-grant-uber-lyft.html

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