— If not for the running craze of the 1970s, Wisconsin’s Trek Bicycle Corp. might never have come to exist.
Some five decades ago, Trek co-founder and serial entrepreneur Dick Burke became a running enthusiast, eventually competing in Boston Marathons and numerous other races.
And that led him, in a roundabout way, to connect with Madison bike store owner Bevil Hogg. The native of South Africa teamed with Burke to start what has become one of the globe’s largest bicycle makers.
The privately held company — which is celebrating its 50th anniversary this year — has had its trials. But it thrived and now has annual sales Forbes Magazine has pegged at nearly $2 billion.
And each year, Trek sells around 1.5 million bicycles, estimated John Burke, who heads the company his father co-founded. Globally, 143 million bikes — worth $60 billion — are sold each year, most of them in China.
Headquartered in a sleek, stylish building in Waterloo, not far from the rustic, 7,000-square-foot red barn where Trek was launched with a handful of employees, it now has around 800 workers in Wisconsin and 5,000 worldwide.
And those workers enjoy being there, ranking No. 42 in the Fortune list of the “100 Best Companies to Work For.” That’s up from 94 in 2023. Even better, Trek came in at No. 6 on the top places to work in retail.
Burke said his father was out of shape before he got into running.
“He got into fitness in a big way and cycling was part of that,” said the lanky, 64-year-old Burke, who became president of Trek in 1997. His father — who stood 5’8″ and was affectionately known as the “Big Guy” — died in 2008 at age 73.
John followed in his father’s athletic footsteps and ran three Boston Marathons with his dad. Furthermore, he logs more than 3,500 miles a year on his bikes, often riding with his wife Tania, who heads Trek Travel, a cycling and active vacation company based in Madison that will turn 25 next year.
Frequent Saturday outings for the pair feature 120-mile spins from Madison to Mazomanie to Spring Green to Sauk City and then home. And this month, they’re cycling in the Alps over grueling mountain passes featured in the Tour de France.
“We love climbing,” he said.
Father and son, John recalled, went on their initial overnight bike trip in 1974 when he was only 12 years old.
“It was just as dad was getting into the bike thing with Bevil,” he mused. “We pedaled from Hartland up to Fond du Lac and then came back the next day on some Fuji bikes he’d bought in Milwaukee. That was our first big cycling adventure, and we rode about 60 miles each way.
“But truth be told, we didn’t have a clue about what we were doing,” he added with a chuckle.
— Realta Fusion will use the site of the former Oscar Mayer plant in Madison to scale up its R&D efforts, keeping it on track to build a commercial nuclear fusion plant by the mid-2030s.
That’s according to company CEO Kieran Furlong, who discussed the company’s plans to set up its corporate headquarters and fusion research facility at OM Station in a recent interview. He says the new site offers more space to expand on its prior work done at UW-Madison while meeting the greater power demand of the company’s next development phase.
“We have made great progress in terms of plasma performance, demonstrating what we intend to do with fusion energy on that machine, but we need to scale up,” Furlong told WisBusiness. “We need to build a larger machine, and that will be the ultimate goal that we have at the Realta Forge.”
State officials yesterday rolled out details for the project, which is backed with a $55 million incentive package, including newly available state tax exemptions, performance-based tax credits from WEDC and support from the city. Of that total, the company says $37.5 million comes from state sales and use tax exemptions that were signed into law by Gov. Tony Evers in April.
“I think it’s a fantastic move by the state to show that they’re open for business for the nascent fusion industry,” Furlong said, adding “we really see that Wisconsin has massive potential to be a fusion hub … I think we’re likely going to be the first company to benefit from that bill with this project.”
Gov. Tony Evers touted the project as a way to boost the state’s efforts around carbon-free electricity, saying “we are getting closer every day to making fusion power part of our energy infrastructure” in Wisconsin. Nuclear energy from traditional fission plants currently makes up 16% of the state’s energy generation.
Another $15 million in the incentive package comes from performance-based enterprise zone tax credits authorized by the Wisconsin Economic Development Corp., which the company can obtain by hitting certain job creation and capital expenditure targets, Furlong said.
To satisfy the jobs requirement, Realta Fusion plans to create 600 jobs over five years. Furlong declined to disclose the exact capital expenditure requirement for the tax credits, though he said it will range in the hundreds of millions of dollars.
“We definitely have grand ambitions to be a large company,” Furlong said, noting the business currently employs about 50 people but plans to hire more quickly.
The final $2.8 million in incentives is in the form of tax increment financing from the city.
Realta Fusion’s decision to stay in Wisconsin came after a nationwide search, assessing “pockets of expertise” across the country as well as competing incentive offers from other states. Furlong said Madison Gas & Electric has been supportive during the site selection process, noting the importance of power availability for the company’s ultimate decision.
The site will use about 20 megawatts of power, which Furlong said is representative of typical industrial buildings of this size. Still, he noted it’s a “significant power draw” for the Realta Forge facility and its “Hammir” prototype magnetic mirror fusion machine.
Another draw to Wisconsin was the company’s existing ties to UW-Madison, which houses the WHAM — or Wisconsin HTS Axisymmetric Mirror — prototype plasma fusion device. Because of OM Station’s proximity to the university, the company can continue working with the same team at UW-Madison for the next phase.
Still, while the link to the university was a “major positive,” Furlong said the incentive package from the state and city “definitely helped tip the balance” for its final decision to remain in Madison.
“This is a really significant investment by the state and the city, it’s a significant signal of support,” he said.
— A total of 97,000 locations in Wisconsin received new or improved high-speed broadband internet service in 2025, according to the final annual report from the Governor’s Task Force on Broadband Access.
Gov. Tony Evers and the state Public Service Commission yesterday released the task force’s sixth report, which also shows 234,000 more locations gained access to fiber internet service over the year.
As of Dec. 31, 2025, Wisconsin had 2.3 million broadband-serviceable locations, based on Federal Communications Commission figures included in the report. Still, about 71,400 or 3.1% of households and businesses in the state lacked “basic” broadband service, defined as 25 megabits per second download and 3 Mbps upload, or 25/3.
Meanwhile, another 93,600 or 4.1% lacked access to high-speed 100/20 broadband service, meaning 7.2% or 165,000 total locations in the state lacked access to high-speed broadband at the end of last year.
Between 2024 and 2025, the share of locations in the state lacking 100/20 service has fallen by 4 percentage points, per the report. And while “mid-range” internet speeds are actually declining in favor of faster “gigabit” service that’s becoming available, the rate of improving service for areas with the lowest internet speeds is also slowing.
That indicates that “the last remaining locations are increasingly difficult to reach and may need additional incentives to fully serve,” authors wrote.
At the start of the Evers administration, service of at least 100/20 Mbps was available in 64% of occupied census blocks, the report shows. That’s risen to 92% at the end of 2025. Based on that change, an estimated 740,000 state residents gained access to high-speed broadband service or better during that period.
Looking ahead, the task force maintains its existing goal that all homes and businesses in the state will have access to 100/20 high-speed broadband by 2029.
Authors also wrote “a strong emphasis and priority should be placed on reaching ‘future proof’ speeds” beyond that level, up to 1000/1000 for as many homes, businesses and community anchor institutions as possible.
In a statement on the report, Evers said he’s proud of his administration’s efforts to connect hundreds of thousands of homes and businesses.
He says state leaders “must continue these efforts to fill gaps, identify ways to support digital skills and affordability programs, and support workforce development efforts to ensure successful broadband deployment for Wisconsin’s kids, students, families, and communities both now and into the future.”
— Madison Gas & Electric has filed an application with state regulators to establish new rules by which it would bill future data center customers.
The utility said in its filing with the Public Service Commission that its new “very large customer” and bespoke resources tariffs are “substantially similar” to the rules approved by regulators in April for large customers in We Energies’ service area.
Like those rules, MGE’s proposal would apply to customers with a power demand greater or equal to 100 megawatts, and bind them to an initial 15-year contract.
It also requires data centers to subscribe to specific power sources designated to serve very large customers and pay all costs associated with operating that generation resource – including paying MGE back the value of the generation if the customer terminates its contract early and the utility cannot repurpose the extra power.
Data center customers would also be responsible for the cost of building new transmission lines needed to serve its facilities.
MGE’s proposal also requires customers to post collateral equal to the value of the power generation that serves the customer, or meet credit, liquidity and net-worth requirements.
Customers can be exempted from posting collateral if they have a credit rating of at least A- and meet liquidity or net worth benchmarks. Customers with lower, investment-grade credit would be expected to post a portion of the collateral.
Oracle, a co-developer of the Port Washington data center in We Energies’ coverage area, has sued to overturn a PSC rule requiring it to post the lifetime value of the generation resources that will serve the data center.
MGE wrote it does not have “immediate requests for service” for customers with forecasted demand greater than 100 megawatts, and noted that many communities in its coverage area have enacted moratoriums that will carry into 2027.
It wrote the moratoriums “offer MGE and the Commission a timely opportunity to establish electric rate structures before these loads materialize, rather than after costs or obligations have already been incurred.”
MGE provides electric service to much of Dane County and gas to a broader swath of southern and western counties.
Citizens Utility Board of Wisconsin said yesterday it was reviewing the utility’s filing.
Executive Director Tom Content wrote in an email that the consumer advocacy group “appreciate(s)” that MGE submitted a similar proposal to the one approved by regulators in April.
“There are a few areas where the MGE proposal seeks changes from what the PSC adopted in the We Energies case, and CUB plans to review those areas to ensure that homeowners, renters and small businesses in Madison and nearby communities are adequately protected in the event of a sudden financial problem that could hit a tech company and expose risk or harm to the customers CUB represents,” Content wrote.
— The head of the Legislature’s Artificial Intelligence in Health Care Study Committee says he aims to develop “practical standards” to keep the state at the forefront of innovation.
Rep. Adam Neylon, R-Pewaukee, and Sen. Rachael Cabral-Guevara, R-Fox Crossing, will serve as chair and co-chair of the study committee, the lawmakers announced.
Made up of four legislators and 12 members of the public with relevant experience, the committee will focus on how AI is used in patient-provider relationships and between insurers and patients, according to the release. Its stated aim is to address AI standards across the health care industry while also protecting patients.
Neylon says AI is “transforming” the medical field, and related decisions by policymakers will shape the future of patient care.
“Our responsibility is clear: protect patients, build public trust, and ensure AI is used safely, transparently, and responsibly,” he said in a statement.
Cabral-Guevara notes the technology is already helping to diagnose patients and assess scans, as well as facilitating communications between providers and those they care for. She touted the “uniquely qualified” members of the committee and their role in keeping patients safe during this new era of healthcare.
“We are tackling a very complex topic, so having AI experts, health administrators, doctors, nurses, and more will ensure committee decisions are made critically and with diverse perspective,” said Cabral-Guevara, who has a background in nursing.
The other lawmakers on the committee are Sen. Sarah Keyeski, D-Lodi, and Rep. Mike Bare, D-Verona.
See an earlier story on AI in healthcare, including coverage of a recent WisPolitics-State Affairs and Wisconsin Technology Council event at the Medical College of Wisconsin.
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.
— A UW-Madison political scientist says the Trump administration is “a little bit caught” in the conflict with Iran as disruption of trade through the Strait of Hormuz has rattled the U.S. economy.
Jon Pevehouse, an international relations expert with the university, weighed in on the recently reignited conflict during the latest UW Now livestream, hosted by the Wisconsin Alumni Association.
“He doesn’t want to look too weak, right, he doesn’t want to look like he’s allowing Iran to completely control the strait,” he said. “Yet, the punishment of the U.S. economy in terms of oil prices, by everyday consumers with midterms coming up is an extremely problematic development for the Trump administration.”
After the latest ceasefire agreement fell apart — with the U.S. military reporting strikes against dozens of Iranian targets this week and resuming a naval blockade — the administration has been attempting a “balancing act” in both its public messaging and at the negotiating table, Pevehouse said.
“You’re seeing a lot of mixed messages and a lot of mixed negotiating strategies, because they truly are caught, there’s a lot of debate in the administration,” he said.
On the one hand, the administration could seek to “really escalate” the war and undermine the Iranian regime, doubling down on the conflict-oriented approach.
On the other, the U.S. could “just hope that this kind of dies away, and that they can get an interim agreement that just allows the shipping to go through, helps the global economy recover in time for the midterms,” Pevehouse said.
TOP STORIES
Realta Fusion will develop former Oscar Mayer site in Madison, add 600 jobs
MCFI shuttering home care service, laying off over 100 workers
You think you’re hot? Try being a roofer in this heat
TOPICS
AGRIBUSINESS
– Wisconsin tightens animal imports to stop screwworm
– Tar spot confirmed in Wisconsin corn fields for 2026
CONSTRUCTION
– Years in the making, Kinship breaks ground on $21.5M community food center
– ‘A great thing for the neighborhood’: Inside plans to redevelop The Grand
EDUCATION
– President of Mount Mary University in Milwaukee sets retirement
ENVIRONMENT
– Wisconsin sees hazardous levels of pollution as fires burn in Canada and Minnesota
– Heavy smoke from wildfires blankets the US Midwest and Northeast, prompting evacuations
FOOD & BEVERAGE
– Madistan restaurant owners say their landlords wouldn’t talk to them
MANUFACTURING
– Drink Wisconsinbly taps former Carbliss exec to lead beverage business
NONPROFIT
– Kinship hopes $18 million expansion will redefine what a food pantry can be
REAL ESTATE
– Distributor pays $87M for its Pleasant Prairie warehouse property
SMALL BUSINESS
– Iconic Franks Diner in Kenosha being sold to longtime employee
TECHNOLOGY
– Realta picks Madison for new nuclear fusion research facility, 600 jobs
– Fusion research center coming to Madison’s former Oscar Mayer plant
– Nuclear fusion company picks former Oscar Mayer site for R&D facility after nationwide search
– Backed by $55M incentives package, startup moving to former Oscar Mayer plant
TOURISM
– Big new RiverWalk opens after delays. It’s not on the Milwaukee River
– Polka Days, Fringe Festival, more on tap for Green Bay area July 16-19
TRANSPORTATION
– MCTS proposes 25% cut to bus services starting in 2027
– Extreme heat causes pavement buckles across northeastern Wisconsin
PRESS RELEASES
See these and other press releases
LINK for Women: Management Women, Inc. announces new name: LINK for Women, Inc.
