This webinar describes work from the University of Minnesota-Extension to support business retention and expansion efforts in rural areas. With over 20 years of experience working with rural communities, MN-Extension has developed several resources that support economic development leaders to create a supportive ecosystem for rural business retention and expansion. Three guest presenters, Michael Darger, Marty Walsh, and Amy Schaefer, discuss the importance of business retention and expansion in rural communities.
One long-held strategy to foster economic growth and development is to recapture tax dollars that flow to higher units of government. Paying taxes to higher units of government, such as the state and/or federal government, is a leakage from the local economy. In a sense, these leakages are akin to a local business buying inputs from vendors outside of the community or local residents shopping outside of the community. While many communities strike to close these leakages by encouraging firms and shoppers to buy locally, such an approach does not apply to state and federal taxes. Rather, communities often strive to have those dollars returned to the community through local state and federal government spending.
As part of the 2023 Regional Economic Conditions Conference hosted by the Federal Reserve Bank of Minneapolis, Dr. Tessa Conroy provides an overview of the Wisconsin labor force.
Professor Deller addressed: Why are some communities more resilient to shocks? What can communities do to improve their ability to rebound?
Using 2021 county sales tax data, we examine the strength and weaknesses of Wisconsin retail and service markets through the application of the tools of Trade Area Analysis. Only those counties that have elected to collect the optional county sales tax are included in the analysis. Because sales tax data are used one must keep in mind that the analysis focuses only on taxable sales and may not reflect the total level of activity in the county. Using Pull Factors and measures of Surplus and Leakage the relative strengths, and weaknesses, of local retail and service markets are identified.
There are about 50,000 employer businesses owned by people over 55 years old in Minnesota. Or about 50% of the businesses in the state. In this webinar, guest presenter, Michael Darger, describes efforts at the University of Minnesota Extension to work across organizations to raise awareness among business owners and create support for business succession and transition (BST) planning in rural areas.
People of color are starting and growing businesses at high rates in Wisconsin. This study explored the experiences of BIPOC entrepreneurs in Fond du Lac County through 1-1 interviews and the Community Capitals Framework (CCF). Business owners expressed satisfaction with the natural beauty and safety of the area while describing limited technical knowledge (human capital), networks (social capital), and financial capital in the critical startup phase of their entrepreneurship. Business development technicians and educators can use this study to better support entrepreneurs of color in their Wisconsin communities.
The movement of employees to remote work due to the COVID-19 pandemic has been well-documented. Indeed, the Census Bureau recently reported that the number of people working primarily from home tripled between 2019 and 2021. This shift certainly caused hardship among some employees but was widely embraced by many others. With the World Health Organization noting that the pandemic is nearing its end, employees, businesses and communities face questions regarding the future of remote work. This webinar explores trends in remorse work and offers insights into questions about the future of remote work.
Summary Date: Wednesday, October 12 | Location: Nicolet College Theatre, Lakeside Building. Special Guest: Neel Kashkari, President, Federal Reserve Bank of Minneapolis Sponsors: Grow North, The Lac du Flambeau Band of the Lake Superior Chippewa Indians, Nicolet College, Baylake Regional Planning Commission, North Central Wisconsin Regional Planning Commission, and University of Wisconsin-Madison Division of Extension […]
Over the last couple of decades, community economic development practitioners and researchers have explored the importance of quality of life on economic activity and population growth. Dr. Amanda Weinstein discusses her work on the importance of quality of life for Midwestern communities and shares what this might mean for a broader set of economic development policy recommendations.
With rising costs to students and soaring debt levels, many people are questioning the value of pursuing higher education. Nationally, a person with a bachelor’s degree will earn about $560,980 or 37.8% more than a person with a high school degree, even while accounting for lost years of work while obtaining the degree.
Building on the data sources described in Part 1, this session explores how to use data once you have extracted it. Real-world examples will be shared to demonstrate how data can be used in applications related to commuting patterns, retail surplus and leakage, workforce development, housing analysis, and industry expansion and retention.
