DOING BUSINESS IN WISCONSIN
Wisconsin Economic Development Corp.
608-210-6701
missy.hughes@wedc.org
www.wedc.org
“Wisconsin offers the ideal balance for life and business—an unbeatable location, affordable living, top-tier workforce, and strong infrastructure. We’re dedicated to creating an environment where businesses grow and communities thrive.”
— Missy Hughes, Secretary & CEO,
Wisconsin Economic Development Corporation
The View From Wisconsin: Governor Tony Evers
The state of Wisconsin is an environment that spurs investment and instills confidence in the future. With a balanced budget and a fully funded pension system, the state’s leadership acknowledges the importance of fiscal responsibility in helping business owners launch and expand their operations in Wisconsin. The state is poised to lead advancements in such pivotal industries as biohealth, water technology, energy, food production and manufacturing, among others. A distinct blend of public-private partnerships across industry, government and academia have come together to bring about economic growth.
Business Facilities spoke with Wisconsin Governor Tony Evers about the business climate in his state and the latest developments.
BF: Please tell us about the current business environment in Wisconsin. What are a few highlights in the state’s economy?
Governor Evers: Wisconsin’s economy is thriving thanks to the strategic investments our state has made in kids and schools, high-speed internet, roads, and infrastructure, communities, and businesses of all sizes and types. This approach has resulted in record low unemployment and record high labor force participation rates—36,000 more people are working now than before the pandemic. Additionally, Wisconsin has been ranked as the number one state in the country for the share of federal recovery funding under the American Rescue Plan Act we directed to businesses, and second for share on economic development. Of the $1.1 billion Wisconsin allocated toward the economy, $363.3 million was spent on general economic development, $130 million for workforce development, and $641.7 million for assistance to businesses.
Wisconsin also has a record budget surplus of over $4 billion, a fully-funded public pension system, and has been recently ranked second nationally for new small business survival over a 10-year period. These achievements demonstrate the state’s commitment to sustained economic growth…
FAST FACTS
Population (2024 est.): 5,931,370¹
Largest Cities (2024 est.): Milwaukee (556,111); Madison, (282,005); Green Bay (105,235); Kenosha (97,645); Racine (76,238)¹
Real GDP (2023): $414.4 billion²
¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce
TARGETED GROWTH SECTORS
Water Technology: As a state with over 15,000 freshwater lakes, Wisconsin knows water. Access to ample fresh water has put the state at the forefront of commercial activity in agriculture, power generation, and more.
Artificial Intelligence: Wisconsin’s AI sector fosters cutting-edge innovation, enabling advancements in healthcare, manufacturing, and agriculture, supported by academic industry collaborations like the AI Co-Innovation Lab on the University of Wisconsin-Milwaukee campus.
Advanced Manufacturing: Wisconsin leads in advanced manufacturing with generations of experience combining innovation and expertise to craft high-quality products, driven by Industry 4.0 technology.
TOP PROJECTS (CAPITAL INVESTMENT)
| COMPANY | LOCATION | INVESTMENT |
| Kikkoman Foods Inc. | Walworth | $800 million |
| A.Y. McDonald Industries Inc. | Dickeyville | $340 million |
| Nestle Purina PetCare Company | Jefferson | $195 million |
| McCain Foods USA Inc. | Plover | $165 million |
| Saputo Cheese USA Inc. | Franklin | $164 million |
FEATURED LOCATIONS
From our central location and extensive transportation infrastructure to our experienced, educated workforce – there are countless reasons to choose Wisconsin. From site selection through construction, opening and expansion, we can help you and your clients realize their vision. Let Wisconsin show you how to truly Look Forward.
TAX CREDIT
Business Development Tax Credit (BTC) Program: Modernized in 2024, the BTC offers refundable tax credits to companies making qualified capital expenditures without job creation requirements, if they do not decrease their Wisconsin head count. Incentives may also apply to investments in workforce housing and childcare facilities. In 2024, Wisconsin eliminated personal property tax.
TOP BUSINESS FACILITIES RANKINGS
| #2 Manufacturing (Job Growth) | 2024 State Rankings |
| Top 10 Agritech | 2024 State Rankings |
| Top 10 Food Processing | 2024 State Rankings |
| Top 10 Medtech/Medical Devices | 2024 State Rankings |
| Top 10 Solar Power (Growth) | 2024 State Rankings |
| Top 5 Most Affordable Cities (Medium) | 2024 Metro Rankings |
| Top 10 Housing Market Growth: Milwaukee | 2024 Metro Rankings |
| Top 10 Manufacturing Hubs (Small): Milwaukee / Waukesha | 20243 Metro Rankings |
| Top 10 Tech Talent Leaders (under 50k): Milwaukee | 2024 Metro Rankings |
| Top 15 Tech Talent Leaders (under 50k): Madison | 2024 Metro Rankings |
