2023 Annual Report by CEDC

Rhythm of Success ANNUAL REPORT AND MEETING FY 2022-2023

CHIPPEWA-WI.COM

Contents Our Values ��2 To Our Supporters ��3 Mission & Vision��3 Connecting with the Team ��4 Financial Report ��5 B.E.A.R. Programs �� 6-9 Business Attraction and Recruitment ��10-11 Farm Technology Days�� 12 Hatch �� 13 Site Selection ��14-15 Getting There ��16-17 Workforce/Talent �� 18 Revolving Loan Funds �� 19 Award Creator �� 20 Keynote Speaker �� 21 Thanks and Sponsors �� 22 Meeting Agenda �� 23

OUR VALUES COLLEAGUES

Our most valued prize and asset is our board, staff, and volunteers - success depends on their knowledge, creativity, skills, and teamwork.

ETHICS Committed to the highest standards of ethics within all of our business relationships and adhere to the 12 tenets of the International Economic Development Council (IEDC) code of ethics.

DIVERSE We are results-oriented, innovative, and diverse in our activities.

COLLABORATION Have superb relationships with key stakeholders working to create collaborative partnerships within the entrepreneurial and economic development ecosystem.

TO OUR SUPPORTERS We are in a region that is consistently ranked among Wisconsin’s best places to raise a family and grow a business. Here one can earn a quality education, start a business, find a great job, enjoy the outdoors, and live in a safe place. The Chippewa area truly offers something for everyone. Known for our pure water, cold beer, and diversified economy, our quiet neighborhoods, top rated schools, and special hometown Chippewa feeling. Our community offers an excellent climate for new start-ups, relocating or expanding businesses. With all these attributes and continued financial support from over 100 key private-sector companies, the County of Chippewa, and the villages and cities

MISSION The primary mission of the CEDC is to be a catalyst for economic development in the Chippewa Valley

within the area-the CEDC continues to effectively

and to foster a strong economic

implement its economic development mission.

environment which supports

Empowering local business owners - connecting with

businesses and nurtures growth

community partners, collaborating with our state and

and new investment in the area.

regional stakeholders to provide a pathway for the area growth, economic prosperity, and improved quality of life for everyone - is what we are all about. The CEDC has accomplished so much over the past year! The organization worked on identifying a future industrial park location, improving the marketing for the existing Stanley Industrial Park, as well as assisting several businesses with their expansions. CEDC fostered entrepreneurs at the HATCH competition among other projects, all of which are highlighted in this annual report. On behalf of the CEDC Board of Directors and staff, I would like to thank our investors, supporters, and stakeholders for their continued support. I remind you that your renewed support and partnership is what drives us forward as an organization. Furthermore, I am fortunate to have the assistance of an outstanding

CEDC is dedicated to promoting and facilitating economic development and to improve the quality of life in Chippewa County by increasing its economic base.

VISION Fueled with a can-do attitude, community involvement, and ground-breaking ideas... Chippewa County, Wisconsin is a dynamic and prosperous area in perpetual renewal. We will lead the State of Wisconsin and the Upper Midwest with an innovative and sustainable economy, while attracting new leading-edge

group of business leaders who volunteer their

businesses, entrepreneurs, talent and

precious time and talent to serve on the CEDC Board

expertise to enjoy our unique lifestyle.

of Directors. A special thank you to the staff and Board of Directors. I look forward to connecting with you throughout the next year.

Maureen Carlson EXECUTIVE COMMITTEE CHAIR

CONNECTING WITH THE TEAM EXECUTIVE COMMITTEE Maureen Carlson – Chair GreenFire Builders of the Future

Melissa Peterson – Treasurer Frandsen Bank & Trust

Chad Oster – Secretary CBS Squared, Inc.

Deb Chilson – Vice Chair Chilson's Corner Motors of Cadott

BOARD OF DIRECTORS A special thank you to our 2022-23 Board of Directors for their continued commitment and leadership. Alan Coopman TTM Technologies

Karen Smith Security Bank

Michele O’Connor Fries Financial Group

Nikki (Nicole) Anderson Marshfield Clinic

Nic Alberson Chippewa Valley Electric Cooperative

Rob Mooney Alliance Plastics Corp.

Klaus Bauer Huebsch Services Ron Haas Martino's Restaurant Ryan Hartzell Citizens Telephone Cooperative, Inc. Ed Holand C & N Manufacturing

Emilu Starck Ruder Ware, L.L.S.C. John Wagner HSHS St. Joseph's Hospital Ron McGill Chippewa County Board Jordan Pospishil Northwest Truck Service

Rick Kaiser Xcel Energy Cathy Leibke Holiday Inn Express

STAFF

Charlie Walker, MPA, CEcD, MPED President/CEO Brittany Sabaska Economic Development & Program Specialist

Lona Cook Cook Chiropractic Center

FINANCIAL REPORT

Economic development is the ultimate team sport! It requires the collaboration of public and private finances, interests, and the engagement of a broad array of stakeholders to achieve success. In part, that is why over 30 years ago the CEDC was formed to engage and activate the stakeholders necessary to assist the Chippewa County area in its efforts to develop the regional economy and raise standards of living for all residents without bias or favoritism. Clifton Larson Allen (claconnect.com) was engaged to perform the annual financial statement review and complete all IRS filings. I am pleased to report that due to the generous support from our investors, CEDC revenue was strong at $301,885 for the 2022 calendar year, ensuring that the CEDC could continue its multidisciplinary approach to economic development as reflected in our broad array of programs and services. Expenses to foster and implement these programs were $295,324 for 2022. CEDC is in a strong financial position and all indicators show continued financial support for the organization. I encourage all of you to read this annual report carefully with the hope that you will appreciate both the quantity and quality of CEDC’s work that you make possible. As an investor and key economic development stakeholder, you are our greatest ambassadors for the CEDC and growing our regional economy. The contents of this annual report are designed to encourage others to join our cause, celebrate our successes, and fuel you with both facts and inspiration to stay connected and committed to our mission.

Melissa Peterson TREASURER

CEDC REVENUES VS EXPENSES 5

B.E.A.R. PROGRAMS

CEDC believes that supporting growth of community businesses is paramount!

tarted in 2007-The B.E.A.R. Program (Business

Expansion And Retention) is based on a strategy

for economic sustainability and growth by strengthening the connection between our local companies and the

community. CEDC’s direct interactions, business visits, connecting events, research and advocacy, all work together to gain insight into local business practices, planned future actions, as well as the challenges of targeted companies. CEDC utilizes this “business intelligence” into value added services, programs, and/or products that address individual and shared company opportunities and issues. The BEAR Program is currently made up of Advocacy, Awards, Discussions, Lunch & Learns, Podcast, and Visit activities.

ADVOCACY CEDC’s Advocacy committee is Chaired by Dr. Lona Cook and is made up of volunteers from local businesses of all types and sizes. The Committee meets monthly from mid-January through early June and while the Wisconsin State Legislature is in session to review hundreds of proposed bills and determine whether local action is needed. The Committee also hosts Federal, State and Local officials at special events such as Listening Sessions, Legislative Speed Dating and Visits, Legislative Wrap-Ups, and the Legislative Previews prior to the start of the next year's session. In election years, candidate forums have been organized by committee members.

AWARDS AND ACCOLADES Continuously since 2006- The Chippewa Economic Development Corporation has been annually recognized by at least one of our peers (i.e. International Economic Development Council (IEDC), Mid America Economic Development Council, Wisconsin Economic Development Association, National Rural Economic Development Association, Wisconsin Economic Development Corporation) for exemplary efforts in the field of economic development. In 2022 the IEDC recognized the CEDC for its Collaboration with other nonprofits in talent and workforce improvement. CEDC also makes a point to nominate business and organizations for national, state, and regional recognition as part of the B.E.A.R. because awards: µ help local businesses build credibility µ give businesses and edge by increasing more awareness µ boost employee moral because they enjoy being part of a recognized team µ attract talent to organizations µ get industry publicity µ showcase corporate social responsibility

B.E.A.R. PROGRAMS CONTINUED... Ó

DISCUSSIONS We arrange conversations all over the Chippewa Valley to foster better communication and connections between the CEDC, our businesses, and our stakeholders. In 2022-2023 the CEDC helped organize these discussions focused on the issues of housing, daycare, broadband and rising supply chain costs and inflation. CEDC also partnered with Momentum West and Wisconsin Economic Development’s Associations (WEDA) to host several other open forums.

175

over STAKEHOLDERS ATTENDED

LUNCH & LEARNS Lunch & Learn events have become a beloved tradition within the Chippewa community. These sessions offer unique opportunities to learn, connect, and grow both personally and professionally. The topics of the 20222023 sessions centered around broadband, financial fraud, and talent retention.

LUNCH & LEARNS

PARTICIPANTS

B.E.A.R. PODCAST CEDC’s B.E.A.R. Discussions Podcast continues to grow. The podcast is aimed at providing a platform where business entrepreneurs are nurtured, resources are discussed, and ideas are freely shared. The podcast is available on SPREAKER and the chippewa-wi.com website. According to Demandsage in 2022, over 22% of Americans listen to Podcasts while they were driving. Insider Intelligence predicts that over 100 million active podcast listeners will be in the U.S. by the end of 2023. One-third of the American Population currently listens to podcasts regularly and 41% of people in the USA tune into a podcast every month. 28% of the population do it weekly, and they consume around 11 episodes on average while they are Podcasting. So it is an important medium for CEDC.

207

AVERAGE LISTENERS A MONTH OF CEDC'S PODCAST

VISIT The CEDC makes a point to meet one-on-one with businesses throughout the area for company tours to gauge the business climate, their growth, and discover impediments.

B.E.A.R. VISITS

REFERRED TO WEDC

BUSINESS ATTRACTION & RECRUITMENT (BAR) 0

ur Business Attraction and Recruitment

For several years, the CEDC has been

(BAR) program focuses on tactics

wrestling with what to do with the several idle

that build relationships with site selectors,

frac sand plants scattered throughout the

developers, business owners, and

area. These plants have ceased operations

entrepreneurs leading to a human connection

in the region. One particular idle frac sand

that reinforces why the Chippewa Valley

location in Chippewa Falls, [the former EOG

is a great place to raise a family and their

Facility] was purchased by a private investor.

business. In 2022/23 our BAR program has

The private investor met with CEDC and the

shown positive results in helping these

hunt for the next user of the 80 acres began

projects choose Chippewa County!

with a collaborative approach.

During 2022/2023 CEDC had weekly meetings with a group of British entrepreneurs, Chris Gregory, and Lesley Blaine, and their company-KYMA Battery Technologies. Founded in Oxford, England, the home of a renowned university, the company specializes and provides engineering, project management, and consulting services for businesses in the energy and green technology sectors. KYMA began their search for a location to branch out into the United States. The process of site selection and community identification has been aided by the CEDC site selection team and investors.

“Thanks to Charlie and his team for making us so welcome and making us feel as though we could set up home and our business in the Valley,” Blaine says.

CEDC spent a lot of time introducing KYMA principals to a wide range of people from the community who have helped them on their entrepreneurial journey. City Council members, Realtors, bankers, school officials and potential local manufacturing partners have helped this project move forward. KYMA announced that they will be spending between 12 to 15 million dollars in capital expenditures and create up to 30 high paying jobs at the end of 5 years. 11

FARM TECHNOLOGY DAYS AUGUST 13-15, 2024

CEDC has been assisting the Chippewa County Farm Technology Days Committee (chaired by Rob Mooney) in organizing the three day event which will bring together farmers, throughout the region so they can explore and connect with the latest technologies in farming. The committee of over 30 volunteers selected the Close Farm and Country Fest to be the host of the Wisconsin Farm Technology Days (WFTD) in 2024. The economic impact that agriculture has on our area can not be overstated. The WFTD event is an excellent opportunity to showcase its diverse agricultural and economic base. To register, visit www.wifarmtechdays.org

over

VOLUNTEER COMMITTEE MEMBERS

HATCH

A BUSINESS PITCH COMPETITION Our annual event brings in some of Wisconsin’s top entrepreneurs to compete for a cash prize, and a package made up of in-kind services

CONTESTA NTS SE PARTICIPALECTED TO TE

and products. Beginning with The Startup Chippewa Valley Week-a celebration of everything entrepreneurial-CEDC organized another successful HATCH in 2022. The Shark Tank – like business pitch competition brought some of Wisconsin’s top entrepreneurs to the stage to compete for a cash prize, Knowing that entrepreneurs are not alone, they have a network of supporters to encourage them and listen to their ideas can make all the difference. HATCH22 provided participantsbefore their pitch- the opportunity to engage and connect with many of the Western Wisconsin’s leading financial institutions, investors, and like-minded individuals. The HATCH event was it's largest to date with over 80 participants.

SITE SELECTION C

EDC confidentially works with businesses, consultants, and brokers to aggregate a list of applicable sites, provide introductions to vetted service providers, and/or respond to

detailed Requests for Proposals (RFPs) for locations. The following are a few of the companies

we have helped in their site search efforts.

RESCO Rural Electric Supply Cooperative (RESCO) broke ground on a 40,000 square foot warehouse located within the East Industrial Park in the City of Stanley, Wisconsin. The expansion of the company into Stanley reflects RESCO’s commitment to providing its electric utility members and customers with exceptional service and reliable inventory, as well as quick response to weather-related and storm damage needs. RESCO is a member‑owned, not‑for‑profit wholesale distributor of high voltage electrical products and is one of the largest full‑line distributors in the Midwest.

BADGER LIQUOR Badger Liquor has been a family owned and operated company since 1935. Badger Liquor the largest and most effective statewide alcoholic beverage sales network. Badger Liquor, they worked with CEDC to identify a location for their new warehouse and depot. The roughly 22,500-square-feet facility was completed in 2023 and is located within the Lake Wissota Business Park (LWBP). 14

MIRON CONSTRUCTION CEDC Investor and Major Stakeholder, Miron Construction Co., Inc. with the help of CEDC identified an excellent location in Lake Hallie, Wisconsin for the new regional office. The familyowned company has been in business since 1918 and is now one of the nation’s premier construction firms and industry leaders and with the assistance of the Eau Claire and Chippewa Falls Chamber broke ground this past spring. Miron provides innovative pre-construction, construction management, design-build, industrial, and general construction services to multiple markets throughout the nation.

NORTHSIDE ELEVATOR Northside Elevator, based out of Loyal, selected Stanley’s West Industrial Park in Chippewa County as the location for their next facility. The company worked with the CEDC, CN Railroad, and the City of Stanley, WI on due diligence for the facility. The phased project calls for Northside to build a new $20 million master-planned facility complex containing several warehouses, office space, a fertilizer plant tower system, and a corn drying bin. The company is expanding in response from their customers in Chippewa County and around Stanley. Northside Elevator is taking advantage of the rapidly growing livestock industry and warehouse demand within the region, which is causing a need for increased milling capacity.

WISSOTA PROFESSIONAL BUILDING Royal Construction broke ground on the 5,000 square foot Wissota Professional Building in Lake Wissota Business Park. The office adds much needed modern professional space to the Chippewa Falls market.

GETTING THERE

over

2,300

HOURS VOLUNTEERED by our CEDC Board of Directors & Committees

over

300,000 sq ft of new manufacturing space build in Chippewa County

Economic growth is the ribbon cuttings and announcements. Economic development is everything it took to get there.

over

1,440 ATTENDED

CEDC events

28,625 WEBSITE CLICKS from

DIFFERENT COUNTRIES www.chippewa-wi.com

OUTREACH MEETINGS HELD

REQUEST FOR INFORMATION (RFI'S)

SITE VISITS

ANNOUNCED PROJECT

WORKFORCE/ TALENT Our economy grows when we develop & deploy our citizens In ways that maximize their productive potential! How talent is developed and deployed, therefore, is of fundamental strategic concern to CEDC.

JOB FAIR The CEDC Workforce/Talent Development Committee helped organize a Make 48 team to compete in 2023 in their upcoming competition. In addition, the committee hosted an open-air job fair at the Chippewa Valley Regional Airport parking lot where participating companies could showcase their open positions and engage with job seekers. Over 40 hiring companies gathered for the free event which was for any job seeker, but was primarily focused on employees who had recently lost their jobs. Roughly 100 job seekers turned out for the event. 18

HIRING COMPANIES

approximately

100

JOB SEEKERS

REVOLVING LOAN FUND

An important economic development tool, the RBF, Inc. and

2022/23 BY THE NUMBERS

Chippewa County Revolving Loan Fund (RLF) program consists of locally controlled capital used to provide “gap” financing for new or expanding businesses looking to create or retain jobs. These programs target small to medium-sized businesses, manufacturing companies, with the goal to stimulate, develop and advance economic development - ultimately reducing unemployment and creating jobs. The Revolving Loan Fund

over

$400,000 RECOMMENDED LOANS

works cooperatively with lending institutions on loans the institutions might not ordinarily make on their own. The organizations rely on the CEDC Revolving Loan Fund (RLF) Committee (chaired by Karen Smith). This committee is made of seven CEDC Board Members who work to ensure that the RLF Programs are efficiently marketed in Chippewa County, provide input into the lending strategies, helps with application review, and approval recommendations.

over JOBS CREATED

Award Creator TM

CEDC supporter and major investor Spectrum-was founded in 1968 with a goal to be a trusted partner that adds value to their customer's programs, projects, and products. Today in Chippewa Falls, Wisconsin Spectrum features several hundred thousand square feet of manufacturing space that includes metal fabrication, wood fabrication, panel/lamination, wet paint, powder coating, assembly, warehousing, and logistics operations. Their design and technical teams have over 100 years of combined experience developing solutions that solve unique customer problems, serve point-of-purchase and store fixture applications, and complete products that enhance customer’s products. Spectrum’s talented team also supports customer programs by designing parts and components and adding value through the company’s state of the art finishing services. Spectrum's specialty design and fabrication capabilities allow customers & brands to see their visions come to life. From custom logos and cutouts to completely unique designs, Spectrum is a turnkey manufacturer. Chippewa Economic Development Corporation is honored that they agreed to design and make this year’s Business Recognition Awards. Spectrum's values are at the core of all they do: RESPECT | SAFETY | INTEGRITY | QUALITY | INNOVATION

Key Note Speaker GINGER JOHNSON

What does it mean to feel connected? What does it mean to not feel connected? In both cases, Ginger's been on the receiving end. With myriad life experiences, personal and professional, she understands that when we feel connected we create the life we want to live. When you know what drives meaningful connection, then you're able to dig into a full and fulfilling life. This is exactly what Ginger studies and shares with people across the globe. And it fosters deep, long-lasting, gratifying, and fruitful relationships. Ginger's fascination with why we want to feel truly connected with other people fuels her mission to connect the world. It's not volume or superficial or quick. Leaders trust Ginger to teach them and their teams how to think and act differently in order to develop and experience fabulous human relationships with various growth models, tools and practices, all rooted in purpose. Connection is the best possible seat at the table of life. After all, everything we strive for and want in life is Powered By Connection.

SPECIAL THANKS TO our CEDC Annual Meeting Committee (co-chaired by Nicole Anderson and Michele O’Connor), Audio Architects, Badgerland Printing, Megan Purtell of Purtell Marketing, Jodi Stevens Design and the photographers that have gone the extra mile to make the annual event a success.

ANNUAL MEETING DIAMOND LEVEL SPONSORS

ANNUAL MEETING PLATINUM LEVEL SPONSORS

AUGUST 24, 2023

Meeting Agenda 7:00 a.m. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Call to Order 7:05 a.m. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Connecting Begins 7:25 a.m. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Introduction 7:30 a.m. . . . . . . . . . . . . . . . . . . . . Welcome, Pledge of Allegiance, Invocation 7:35 a.m. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Breakfast 8:00 a.m. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Keynote, Ginger Johnson 8:30 a.m. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Awards 8:55 a.m. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adjourn

41%

INCREASE IN CEDC INVESTOR PARTICIPATION SINCE THE PANDEMIC