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Driving Economic Growth

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Driving Economic Growth DRIVING ECONOMIC GROWTH Milwaukee 7 Council Meeting February 19, 2015 Gale Klappa – M7 Co-Chair Chairman, President and CEO Wisconsin Energy Corporation Frank Unick Jim Kreuser CFO County Executive Uline Kenosha County M7 Agenda Business Driving Global Plan Prosperity Trends M7 Mission Help companies in our driver industries – companies that EXPORT goods and services from the region – to create jobs and invest capital here. M7 Win: Gardner Denver Privately-held former Fortune 1000 manufacturer of industrial compressors, blowers, pumps and loading arms $2.5 billion annual sales; global employment of 7,000 Moving global HQ to Milwaukee’s Third Ward (competed against Houston and Quincy, IL) 200 highly-paid executives & professionals Team effort: WEDC, City of MKE, M-7 M7 Win: Toolamation Lake County (IL) CNC machining company Consolidating two facilities to 50,000 sf complex in Kenosha 77 skilled manufacturing jobs; $1.5 million capex Announcement February 2015 Team effort: WEDC and KABA Among first meetings sourced via M-7 calls on Illinois manufacturers (2013) M7 Kenosha “Wins” Jobs Payroll CapEx Konecranes 50 2,346,000 250,000 Kenall 621 34,487,856 32,000,000 Niagara Bottling 70 3,088,750 75,000,000 Quest 56 2,805,880 3,600,000 Toolamation 77 2,788,324 1,445,000 874 45,516,810 112,295,000 M7 Win: ConsortiEX Healthcare technology company that provides IT systems and services to manage the ordering and tracking of patient injections Locating office in downtown Milwaukee 50 highly-compensated engineers and software developers Recipient of WEDC angel investor tax credits Emerged from MassChallenge accelerator M7 Win: Orchard Street Press Milwaukee-based screen printer that specializes in eco- friendly production methods Milwaukee- and Wisconsin- centric products and designs; sold in Milwaukee, Madison and Door County Expect to add 15 employees MEDC loan candidate STRATEGY: GROW JOBS M7 Scorecard of Wins for the Region Performance Measures 2010-To-Date 2005-2009 Project Wins 46 12 Pledged Jobs* 7,390 3,220 Audited Jobs** TBD 2,449 (76%) Average Wage*** $49,998 $58,800 Payroll $369M (est.) $144M Capital Investment Pledged $657M $156M * Results based on company projections at time of M7 engagement ** Jobs accounted for at 5 year audit using public records *** Average regional wage $45,000 M7 Pipeline of Prospects 50 Active Projects 16 International M7 Pipeline of Prospects 5,292 Potential Jobs Campaign 3.0 M7 Campaign Leaders $3,969,000 STRATEGY: BUILD REGIONAL CAPACITY M7 Next Generation Manufacturing Council ACCOMPLISHMENTS: WHAT’S NEXT: One of 12 federally designated Create and integrate regional “Manufacturing Communities” manufacturing initiatives The Region receives preferential Lead collaborative applications consideration for up to $1.3 billion for federal dollars in federal grant money M7 NGM Council M7 National Manufacturing Institute Competition Competition will award $70M in federal funding to the consortium best suited to execute the vision for a national Smart Manufacturing hub $70M federal investment must be leveraged by at least $70M in matching private investments The award is for five years with the goal of the institute being self-sustaining after that period M7 Talent Initiative M7 Mission: Align workforce with growth opportunities in high potential industry clusters Supporting → M7 Attraction & Expansion efforts → Employers in M7 driver industries KEY STRATEGIES: 1. Provide a coordinated “Rapid-Response” to address immediate industry talent needs Link employers to 250 quality job placements per year. 2. Address the skills gap by improving the quality of the regional labor pool Increase the # of apprenticeships in M7 region. Expand the # of students in cluster-specific pathway programs (e.g., Welding and Machining 101) Increase the number of students on a clearly articulated pathway (2+2+2) from basic credentials to Bachelor’s degrees in engineering. 3. Gather and disseminate real-time data of available talent for industry; and align talent systems to meet current and future industry needs STRATEGY: BUILD REGIONAL CAPACITY M7 Export Initiative Regional strategy to grow the number of exporting companies In the past 10 years, exports have grown RESULTS: Selected as one of eight regions across the nation to share export strategy best practices 45% Strategies offsetting a 6% loss in domestic sales. 1. Catalyze export engagement by small and mid- sized enterprises (SMEs) 2. Help companies navigate the exporting process 3. Use the region’s commercial strengths to expand and intensify export engagement 4. Create a strong local export culture Kenosha County M7 NGM Steering Committee Jim Kreuser, County Executive Carmel Ruffolo, UW-Parkside Gordy Kacala, Gateway Technical College Kenosha Area Business Alliance Todd Battle, President M7 Talent Subcommittee Gordy Kacala, Gateway Technical College Water Council Members Doug Bartz, Kenosha County Carthage College Michelle Blanchard, SE WI WIB University of Wisconsin-Parkside Gateway Technical College M-WERC Members Centrisys Corporation UW Parkside Gateway Tech College FaB Wisconsin Members Engendren Ocean Spray, Gina Balke, FaB Careers Chair BizStarts Members Kenall Lighting Procubed Gateway Technical College Dossett Centrifill M7 Todd Battle John Daniels – M7 Co-Chair Chair Emeritus Chair Quarles & Brady Greater Milwaukee Committee Milwaukee 7 Economic Development Partnership Council Critical Global Business Trends Opportunities for the Milwaukee 7 Region Paul A. Laudicina February 19, 2015 Discussion agenda ■ What’s on the minds of business leaders? ■ Global trends ■ Technology and creative disruption ■ Worldwide economy ■ FDI flows ■ Opportunities for Wisconsin 23 Discussion agenda ■ What’s on the minds of business leaders? ■ Global trends ■ Technology and creative disruption ■ Worldwide economy ■ FDI flows ■ Opportunities for Wisconsin 24 Business leaders are optimistic for 2015, but they have concerns ■U.S. economic recovery ■Hard landing in China? ■Rising cost pressure ■Technology and innovation ■Climate change and resource scarcity ■Potential changes in taxes ■International trade agreements 25 Discussion agenda ■ What’s on the minds of business leaders? ■ Global trends ■ Technology and creative disruption ■ Worldwide economy ■ FDI flows ■ Opportunities for Wisconsin 26 Adaptation is the key to survival We live in a world of continuous, disruptive change “Strategy is a sense of direction around which to improvise.” – Peter Drucker 27 Trends will influence global change over the next 10 years Globalization/ Consumer Demographics geopolitics behavior & economics Natural resources Social/political Turbocharged by and environment tensions technology 28 Discussion agenda ■ What’s on the minds of business leaders? ■ Global trends ■ Technology and creative disruption ■ Worldwide economy ■ FDI flows ■ Opportunities for Wisconsin 29 As the pace of change accelerates, we are flooded with information ■ 90% of the world’s data ever created was generated in the last two years ■ It takes only 15 minutes to produce as much information as is in the Library of Congress ■ The Internet of Things could link some 50 billion smart objects by the year 2020 30 Technology is leading to creative disruption in business Big data Robotics Internet of things 3D Printing Biotech advances Source: A.T. Kearney; IBM 31 Augmented reality, augmented confusion Knowledge Pyramid Wisdom Knowledge Information Data 32 Droning on: The global robotics revolution will accelerate World robot population, millions of robots 34.2 Service Robots Industrial Robots +23% 18.2 32.6 17.0 6.5 Hen-na Hotel, to open July 2015 5.5 1.0 1.2 1.6 2007 2011 2015 If robots formed a nation, in 2015 it would be the 36th largest country, larger than Canada Source: International Federation of Robotics 33 The Internet of Things could link some 50 billion smart objects by the year 2020 Number of things connected to the internet, global population, bn 50 Connected things 40 30 20 10 People 0 2000 2005 2010 2015 2020 Machine generated data, % of digital universe 50 40 30 20 10 0 2004 2006 2008 2010 2012 2014 2016 2018 2020 Source: IDC, Cisco 34 3D printing could transform the manufacturing landscape Current advantages, hand-tools example Production cost, US$ Production time, days -92% -58% 18.0 420 176 1.5 Traditional Additive Traditional Additive Machining Manufacturing Machining Manufacturing Unit cost comparison Tool based manufacturing (Forging) Additive Manufacturing Past Unit Unit cost Present Future? 1 10 100 1k 10k 100k 1M Units Source: Stratasys 35 Biotech advances will mean the end of some diseases and the advent of personalized medicine Cost of sequencing human-sized genome, US$ per genome, logarithmic scale 100,000,000 95,263,072 10,000,000 1,000,000 100,000 10,000 4,008 1,000 2001 2014 Source: Human Genome Research Institute 36 Discussion agenda ■ What’s on the minds of business leaders? ■ Global trends ■ Technology and creative disruption ■ Worldwide economy ■ FDI flows ■ Opportunities for Wisconsin 37 Policy choices impact competitiveness and growth ■ 3.3% base-case average annual real growth between 2015 and 2020 ■ Lower global commodity prices ■ >4% growth for emerging economies ■ > 2% growth for advanced economies ■ Diverging economic performance based on policy choices ■ Significant risks ■ Positive wildcards 38 Discussion agenda ■ What’s on the minds of business leaders? ■ Global trends ■ Technology and creative disruption ■ Worldwide economy ■ FDI flows ■ Opportunities for Wisconsin
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