By Brian E. Clark
RISING
World Dairy Expo
Building on a successful four-decade run in Madison, Dane County
officials say the World Dairy Expo will return to Wisconsin’s capital
city for at least three more years.
As part of the deal, plans are underway to expand the current space to
allow more participants to attend the annual event, Dane County
Executive Kathleen Falk said.
Nearly 2,500 cows were displayed last year at the show, which drew
67,000 visitors from 90 countries. The 2008 expo will run from Sept. 30
to Oct. 4.
MIXED
Wisconsin’s competitiveness
A mixed-bag economic report by Competitive Wisconsin Inc. (CWI) shows
the state is falling further behind the national average in per capita
income, number of new jobs created and the amount of new private
businesses.
The survey – dubbed Measuring Success: Benchmarks for a Competitive
Wisconsin – said per capita income fell to $34,476 in 2006, compared to
the national average of $36,629. Bill McCoshen, executive director of
CWI, called it one of the report’s “most troubling indicators.”
Wisconsin’s per capita income also continues to significantly trail
that of its neighbors, Illinois ($38,297) and Minnesota ($38,751), the
survey showed.
In all, the annual report showed that 17 benchmarks changed in 2006
from the previous year with eight improvements and nine declines. On
the upside, 2006 showed increases in venture capital and export share,
and decreases in unemployment and the percentage of uninsured
residents.
See the WisBusiness story:
http://www.wisbusiness.com/index.iml?Article=122380
FALLING
Overture Center
The weak U.S. economy is taking its toll on the Overture Center’s trust
fund, which pays debt on the Madison performing arts facility’s
construction and provides cash for long-term capital projects. The fund
has fallen to $100 million, declining almost to the point where
emergency funding mechanisms would be needed.
The city may have to ask for help from philanthropist Jerome Frautschi,
who gave the city $205 million to build the downtown center eight years
ago. Under an agreement with the city, Frautschi would pay the debt
service for two years if the fund drops below $100 million.
During those 24 months, the Support Organization for the Madison
Cultural Arts District would have to come up with a way to find more
money to run the center. To date, annual returns on the trust fund have
been significantly less than the 8 percent needed.
