THU AM News: New North launching new multi-region alliance in early 2025, timed with NFL Draft; GMAR report projects 2024 home sales will remain relatively low

November 14, 2024

— Economic development groups aim to launch a new multi-region alliance early next year, timed to coincide with the 2025 NFL Draft in Green Bay.

Barb LaMue, president and CEO of the New North, discussed the plan yesterday during the Wisconsin Technology Council’s Early Stage Symposium in Madison. The group she leads seeks to advance economic growth and business development in the 18-county northeastern Wisconsin region.

“We have a team of consultants that are looking at, how do we better connect the three larger hubs in our state?” she said, referring to the New North, the greater Madison area and Milwaukee 7, an economic development partnership spanning seven counties in southeastern Wisconsin. “We’re calling it, for now, the innovation triangle.”

The project aims to identify and double down on the most impactful programs spurring technology and early-stage business growth, aligning regional efforts to provide support for entrepreneurs, according to LaMue.

“Once that gets established, we’ll launch that out across all nine regions of the state, not just the three,” she said. “Our intent is to do the debut of this and highlight fifteen high-tech, high-growth entrepreneurs two days before the NFL Draft … the audience will be national media that will be here.”

The 2025 NFL Draft is being held April 24-26 at Lambeau Field and the nearby Titletown District in Green Bay.

Also during yesterday’s event, WiSys Innovation Ventures Association Wilson Fay said Wisconsin lacks “on-ramps” for startup founders outside of the state’s main hubs for such activity, Madison and Milwaukee.

“Outside of those areas, it’s not as easy to find that point of contact to get into the network and get access to all these great service providers that are around the state,” he said. “So how do we create those easy access points within their community?”

Kelly Armstrong, president of the Kenosha Innovation Neighborhood, also spoke to the need for more on-ramps for those looking to launch a business. While nearby Milwaukee has an array of resources and related groups less than an hour away, she questioned “why are we sending them away? We need that connectivity here.”

She said her organization aims to “be that point of connection” between Chicago and Milwaukee, making it easier for entrepreneurs to develop their network and connect with venture capital investors. The nonprofit KIN was created by the city to redevelop a 107-acre site that was used for automotive manufacturing for decades.

Two buildings are under construction there: the new home for the LakeView Technology Academy, a STEM-focused high school; and an innovation center that Armstrong calls “our front door to the entrepreneurial ecosystem, and creating that connectivity and starting point for businesses.”

LaMue underlined the need for greater broadband internet access to enable regional economic growth, noting each of the 18 counties in the New North has its own broadband implementation plan.

“Our 18 counties, each are using their individual plans that have been highly successful as they compete to the Public Service Commission … To date, we’ve received about $30 million in PSC grants that’s been leveraged by about $50 million from the private sector,” she said. “So our goal is to get broadband to every home, every entrepreneur in our region.”

The two-day Early Stage Symposium continues today with a keynote speech detailing Microsoft’s footprint in Wisconsin. See the agenda.

— Home sales in the Milwaukee area are on track to match last year’s relatively low activity, according to the Greater Milwaukee Association of Realtors.

Sales were down 1.3% over the year in October, the group’s latest report shows. A total of 1,525 homes were sold across Milwaukee, Waukesha, Ozaukee and Washington counties for the month, compared to 1,545 in October 2023.

Between January and October of last year, sales totaled 13,747 — 6.3% lower than for the same period of this year, which saw 14,145 homes sold. GMAR projects the market will likely see another 2,400 sales through the rest of this year, which would bring the total for 2024 to around 16,500.

The report notes that would be around the same number seen in 2023, “which was notably one of the lowest sales years since the market recovered from the Great Recession.” The group points to “lackluster” listings as a major cause for the low sales number.

So far this year, listings in the region are also up 6.3% over this point last year — 18,530 versus 17,440 — and GMAR anticipates another 2,500 to be added before year’s end. But that total of around 21,000 falls short of the 25,000-27,000 range seen in the years before 2022, “when they began to slide.”

Still, demand remains strong, the report shows. The average sale price in the metro area was 11.9% higher over the year, rising from about $360,000 in October 2023 to just over $400,000 last month.

See the report.

— The Wisconsin Hospital Association Foundation and 30 hospitals are helping launch chapters of a student organization called HOSA-Future Health Professionals at high schools in Wisconsin.

HOSA, which used to stand for Health Occupations Students of America, gives students opportunities to explore career options in the health care field. The WHA Foundation and participating hospitals have donated $33,000 to create new chapters, with 23 schools and school districts getting funding.

WHA President and CEO Eric Borgerding says the new chapters will help build “a robust health care workforce” in the state.

“This initiative isn’t just about workforce numbers — it’s about fostering future caregivers who are well-trained, committed to delivering exceptional health care for patients statewide, and prepared for rewarding and satisfying careers,” he said in a statement.

See the list of participating hospitals and schools getting funding in the release.

Top headlines from the Health Care Report…

— Health officials are urging state residents to get vaccinated in time to be fully protected from respiratory viruses ahead of the holidays.

For more of the most relevant health care news, reports on groundbreaking research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics and WisBusiness.com.

Sign up here.

— The Wisconsin Sustainable Business Council has announced the list of “Green Masters” companies for 2024, recognizing companies that have committed to measuring and improving sustainability through the program.

The program ranks participants into four categories to reflect their sustainability efforts, ranging from adapting to advancing, maturing and the top tier, Green Master. WSBC Managing Director Jessy Servi Ortiz says the program “drives continuous improvement and sustainable success” in line with internationally recognized standards.

“For over fifteen years, the program has helped companies build credible and impactful sustainability initiatives, and we are proud to see companies like these paving the way for a more sustainable future in Wisconsin,” Ortiz said in a statement.

The Council held its annual conference yesterday at the Harley-Davidson Garage & Museum in Milwaukee.

See the full list of Green Master companies.

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