MON AM News: Bank CEOs have stable view on Wisconsin’s economy, survey finds; Create Wisconsin spotlighting new arts relief fund

July 7, 2025

— Bank executives have a relatively stable view of Wisconsin’s economy, despite ongoing uncertainty around tariffs and the national economic picture.

That’s according to the Wisconsin Bankers Association’s Economic Conditions Survey of Wisconsin bank CEOs. It found 59% of respondents expect the state economy to stay the same over the next six months. At the same time, 24% expect it to grow over that period and 17% expect it to weaken.

In the mid-year survey from 2024, 70% had expected the state economy to remain the same for the coming six months, while just 8% had expected it to grow and 23% had expected it to weaken.

At the same time, perspectives on the current state of Wisconsin’s economy have improved slightly since the last mid-year survey. In the latest look, 7% said the health of the state economy is excellent, while 79% said it’s good and 15% said it’s fair. No respondents said it’s poor.

In the same survey from the midpoint of 2024, 5% had said the state economy was excellent, 71% said good and 24% said fair. As with the latest survey, no respondents rated the economy as poor.

Meanwhile, expectations around inflation have worsened somewhat. In the latest survey, 23% of bank CEOs said they expect inflation to rise over the next six months, while 15% expect it to fall and 63% expect it to stay about the same.

In last year’s mid-year survey, 8% had expected inflation to rise over the coming six months, 26% had expected it to fall and 66% had expected it to remain unchanged.

When asked about the possibility of a recession coming in the next six months, 39% of respondents to the latest survey said it’s unlikely or very unlikely. Thirty-nine percent were also neutral on the question, while 23% said it’s likely or very likely.

Those expectations have shifted slightly from WBA’s last mid-year survey. At the time, 43% had said it was unlikely or very unlikely, 32% were neutral and 24% said it was likely or very likely.

The latest survey also posed a new question, asking respondents if their business customers have reported any impact from new tariffs or the possibility of new tariffs. Three percent said these customers are reporting a positive impact, while 24% said they’re seeing a negative impact, 16% said they’re not impacted and 57% said they’re not impacted “as of yet.”

Bank executive respondents pointed to new businesses moving into local markets, few business failures, a strong manufacturing sector, expansion in farming and strong tourism as “economic bright spots,” WBA notes.

But looking ahead to the second half of this year, respondents said their business customers’ top concerns include economic uncertainty due to tariffs, global instability, interest rates, more costly insurance, farmers’ ability to sell crops, high costs for materials and employee housing.

“Survey respondents also reflected it is difficult to forecast given fluctuations in tariff negotiations, that the housing market is on hold for lower interest rates, but that ‘business as usual’ is reassuring and stabilizing during times of uncertainty and change,” the group said in a release.

The online survey was conducted June 3-30 and had 72 respondents.

See the full results here.

— Create Wisconsin is spotlighting a new $600,000 relief fund for performing arts organizations recently announced by Chicago’s Paul M. Angell Family Foundation.

The nonprofit foundation says the National Endowment for the Arts Relief Fund will support grantee partners within its performing arts portfolio, whose awards from the endowment were cancelled earlier this year.

Earlier this year, hundreds of arts groups across the county began getting notified that their NEA grants were being cancelled. President Donald Trump has also called for eliminating the endowment altogether in his latest federal budget proposal.

Create Wisconsin noted in a recent post that groups whose NEA grants were terminated or rescinded can apply for the relief grants by July 14.

The foundation plans to issue grants ranging from $5,000 to $20,000 while prioritizing groups that didn’t receive any of the funding they were originally promised. If more applications are received than the foundation has funding for, then the group will elevate recipients with smaller operating budgets in the selection process.

The organization notes private philanthropy can’t replace all of the federal funding that has been pulled back or the “other crucial benefits” of NEA funding but is committed to doing what it can to help. In a statement on the new relief fund, the group thanks recipients for their ongoing efforts.

“The performing arts are an essential part of flourishing communities and vital for telling our stories, sharing joy, and envisioning a just and vibrant future,” the group wrote. “We will continue to partner with you as you navigate through these difficult times.

See more here.

— Fincantieri Marine Group has announced former firearm company executive George Moutafis as its CEO, effective at the start of July.

Moutafis most recently worked as COO and general manager for Beretta USA Corp. and previously held leadership positions within Fincantieri Marine Group, the U.S. subsidiary of Italian shipbuilding business Fincantieri.

The announcement highlights a “pivotal moment” for domestic shipbuilding, noting the current administration is putting a greater emphasis on domestic naval capabilities.

In Wisconsin, Fincantieri Marinette Marine operates out of facilities along the Menominee River, where it builds various vessels for the U.S. Navy.

Fincantieri says it’s invested more than $800 million in its U.S. shipbuilding operations over the past 15 years, with more than half of that going toward upgrading and expanding its presence in Marinette.

See the release.

— Madison-based Voximetry and Cincinnati’s Medpace Core Laboratories have announced a newly cemented partnership related to drug trials.

Medpace Core Laboratories has designated Voximetry as its preferred provider of dosimetry services for radiopharmaceutical clinical trials, the companies recently announced, building on a business relationship that’s existed since June 2024.

“It is the right time to formalize our partnership with Medpace,” Voximetry CEO Sue Wallace said in a statement. “Together, we can set a new standard for clinical trial efficiency and excellence from protocol development through analysis of final outcomes.”

Scott Holland, senior director of scientific affairs for MedPace, praises Voximetry’s “deep domain expertise” in the field of advanced dosimetry, which is used to measure the absorbed amount of ionizing radiation.

“Their capabilities enhance our Core Laboratory services by assuring radiopharmaceutical trials include accurate dosimetry with fast turn-around time,” he said in a statement. “For our clients, this will help accelerate development and reduce costs.”

See more at Madison Startups.

Wisconsin credit unions may soon surpass banks in assets, a milestone

Balancing data and uncertainty: Chicago Fed president talks tariffs, inflation and Fed independence on Milwaukee visit

TOPICS

AGRIBUSINESS

– $150M boost for Wisconsin agricultural roads approved

– Wisconsin’s 2025-27 budget boosts agriculture investments

– Wisconsin pig farmer holds on at Wonderfarm as Washington breaks a promise

CONSTRUCTION

– $30M county commitment for Domes Reimagined plan up for review

– Industrial, housing developments planned in West Bend

ECONOMY