Embracing the mission “to strategically invest in Wisconsin to enhance the economic well-being of people and their businesses and communities,” the Wisconsin Economic Development Corporation (WEDC), as the state’s premier economic development organization, works ceaselessly to promote long-term company expansion and job creation. With an approach centered on customer service and meeting the needs of businesses, WEDC works with its state economic development network to grow industries, deploy tools, offer financial and technical support, and promote entrepreneurship effectively and efficiently.
This includes fostering collaboration with over 600 regional and local partners.
Renowned for its progressive outlook, Wisconsin is a community of change makers, each with their unique ideas of how to succeed, whether through launching new companies, improving the state of the world, reaching a wider audience, or revitalizing communities. To that end, WEDC offers resources, financial support, and operational assistance through collaboration with partners that include academic institutions, industry clusters, and regional economic development organizations.
From encouraging the revitalization of Main Streets and commercial districts to igniting the visions of a diverse variety of business owners, WEDC contributes to the creation of prosperous, lively communities throughout Wisconsin, giving both rural and urban regions fresh vitality, wholesome trade, and hospitable common areas. By making connections with new markets and fostering global contacts, WEDC helps motivated businesses grow and reach their full potential, whether they are Wisconsin-based companies seeking to expand or international companies looking to invest and prosper within the state.
Supporting the ambitions, activities, and products of businesses from conception to commercialization, WEDC assists innovators and problem solvers in their quest for breakthroughs that can transform entire sectors, create new businesses, and improve people’s lives.
“The Wisconsin Economic Development Corporation is the state’s leading economic development agency. We’ve been in existence since 2011, and before that, we were the Department of Commerce,” says Missy Hughes, Secretary and CEO. “At WEDC, our goal is to invest all across Wisconsin to help the economic well-being of people and their businesses and communities. We have a real vision of creating an ‘Economy for All’ where every Wisconsinite has the opportunity to thrive.”
Main responsibilities fall into three buckets, she says. The first bucket is helping businesses and communities with their projects, whether that’s building another warehouse or manufacturing facility or helping a community that wants to redevelop a theater, for example.
The second bucket involves assisting with entrepreneurship and innovation, including startup businesses.
The third bucket encompasses helping with global trade and investment. “That means helping our companies as they seek to export their goods, or if a company is interested in investing in the United States, we’ll convince them that Wisconsin is the best place for them to do business,” Hughes says.
When it comes to investments, however, the global economic turbulence at present has her concerned and engaged, working to ensure that Wisconsin remains strong throughout. “Wisconsin has a strong economy based on industry and agriculture, and we’ve been growing,” she says. “Our GDP grew in the last quarter, and we’re strong coming into this period. We have concerns both for our manufacturers, who are moving goods back and forth across the Canadian line or the Mexican border, and also for small businesses that might be importing from other countries, especially China.”
Exciting industries are emerging in the state, however, with technology and biohealth being at the forefront. After being designated as a Regional Technology Hub by the U.S. federal government in 2023, in 2024 Wisconsin achieved a significant milestone as a Phase 2 recipient in this program when the U.S. Department of Commerce Economic Development Administration (EDA) awarded the state $49 million in federal grants, bringing Wisconsin’s total funding so far to more than $80 million. The Wisconsin Biohealth Tech Hub, led by BioForward Wisconsin, aims to position the state as a global leader in personalized medicine, an emerging healthcare approach that tailors tests, treatments, and therapies according to a patient’s unique genetic code, medical record, and environment, according to the EDA. “Leveraging its cluster of healthcare assets and track record of commercializing medical research, this Tech Hub seeks to facilitate manufacturing coordination and data sharing, expand lab space and computing capacity, advance the field of critical genomic technology, and accelerate domestic biotech manufacturing,” the EDA describes.
“There’s an idea of personalizing medicine in a way where someone gets the most effective treatment most efficiently and has access to the treatment right when they need it,” Hughes says. “We’re excited about what’s happening in Wisconsin, and we’re seeing other companies being attracted here because of that.” In particular, Eli Lilly has committed to a $3 billion pharmaceutical facility. Additionally, Microsoft is making a grand entrance, building one of its biggest facilities in the United States in the hub.
“It’s a data center for artificial intelligence, and in conjunction with building the data center, Microsoft also established their first co-innovation lab focused on advanced manufacturing and artificial intelligence in Milwaukee,” Hughes says. “That’s going to change the game when it comes to using artificial intelligence in advanced manufacturing, and we’re excited to have that happen in Wisconsin.”
What’s enticing big businesses to relocate to and invest in Wisconsin? Hughes thinks it’s a combination of factors. First and foremost, as companies are looking to choose a location, they’re seeking out workforce, and since the entire country is experiencing a shortage in that area, what companies are really looking for is a committed workforce that’s well-educated and well-trained, which can be found in Wisconsin.
“As I talk to CEOs who are building their businesses here, they’re really focused on the excellence of the Wisconsin workers,” adds Hughes. “We also have access to stable power, we have lots of fresh water, and we have a relatively stable climate, which these days is becoming more and more important for businesses as they look at their risk. When establishing a big facility, they want to make sure they’re not going to encounter big problems.”
Wisconsin has always had a strong presence in manufacturing, especially in energy, power, controls, and food and beverage manufacturing. “We’re excited to continue having strong industries, but we see opportunity, especially around clean energy.” To that end, the state has produced battery companies, such as COnovate in Milwaukee, and companies bringing brand-new technology, such as Realta Fusion, a company born out of UW – Madison focused on nuclear fusion.
Of course, no matter what industry is investing and putting down roots in the state, environmental awareness and sustainability are ongoing concerns for WEDC. Ensuring companies understand the importance of preserving the environment is vital.
“Those are the companies that are going to be the most forward-looking,” says Hughes. “If they’re thinking about conservation of resources, about the impact on the environment—whether it’s protecting fresh water or thinking about climate change—these are the companies that are looking forward, which is our motto. We want to make sure we’re attracting and talking to companies that are excited to be thoughtful but also innovative and excited about the future,” she says. “We’re excited about the portfolio of major, iconic companies that we have, and also that Wisconsin has come onto the national scene in a really exciting way.”
WEDC offers many incentives for businesses including tax credits and grants that help fund infrastructure. As for intangible benefits, there’s the quality of workforce, quality of life, and the low cost of doing business, all key factors that long-term companies look for. “We know it’s a risky proposition to land your business someplace,” says Hughes. “We want to show the company we’ve got their back, and we want to support them to be successful in Wisconsin.”
To help alleviate the huge concern about housing that’s present everywhere in the country, Wisconsin recently received a historic investment from the state of over $500 million to support new housing development and ensure adequate housing for all. There’s no doubt new housing will be vital for the influx of residents that the Wisconsin Biohealth Tech Hub is expected to bring, along with flourishing existing companies such as Hewlett-Packard, GE Healthcare, and Harley-Davidson.
Entrepreneurs are also of prime concern for WEDC, with many major companies having been founded in Wisconsin as a one- or two-person shop, including Oshkosh Corporation and Snap-On Incorporated, to name a few. “They started here in Wisconsin, and they started from ideas,” says Hughes. “We want to make sure the ideas of today turn into those iconic companies 50 or 75 years from now.”
On a lighter note, Wisconsin has enjoyed a variety of major entertainment events recently, including the NFL Draft weekend in Green Bay this past April, which boasted an overall attendance of more than 600,000 people. “It was incredible,” says Hughes. “With the nation looking at Wisconsin, we were able to showcase these opportunities in really spectacular ways.”
And in 2024, the popular cooking show competition Top Chef was filmed in Milwaukee, resulting in what was basically “a 16-week commercial for Wisconsin. They were in Milwaukee and Door County and all around Wisconsin. It was fabulous.”
Looking ahead, Hughes and the WEDC aim to keep Wisconsin at the forefront of the national stage to ensure people are aware of all the opportunities waiting for them here. “We want to keep Wisconsin in the spotlight,” Hughes says. “We want to make sure that companies are looking at Wisconsin as an opportunity to invest and grow, and we want to keep pace with that growth.”
