In this issue . . .
DECEMBER 2017
Ribbon Cuttings Business PM Schedule Member News Calendar of Events New Members
We’re building a competitive and thriving community By David Eckmann, President/CEO n the first days of the Great Recession, our region was faced with a high level of uncertainty. Businesses were contracting and preparing for the down cycle. Many businesses closed. Our community faced the worst economy since the Great Depression. Times were tough, but we persisted.
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Many in our community know very little about the challenge that we will face over the next two decades. Our community has an abundance of questions. For this reason, the Chamber and the North Central Wisconsin Workforce Development Board will collaborate with community stakeholder groups to present a series of community conversations (awareness sessions) on the topic of the demographic shift and what it means to our families, businesses, education institutions and government entities.
Today, we are enjoying a much stronger economy. Our industry sectors in manufacturing, health care and finance/ insurance are making significant investments and hiring. Our regional unemployment is at 3.7%. You’ve likely noticed as you drive around that our municipal leaders are making improvements for today and our future. Although the economy has vastly improved, our community, region and state are faced with a significant economic threat: the demographic shift. Put simply, we do not have enough talented people to support the growth of our industry sectors and business organizations. As a result, businesses are turning away orders and drastically repositioning to compete to attract talent in a limited talent pool or beginning to automate. Our education systems are moving to reposition resources due to declining enrollments and the rising demand for technology. Our governmental units are walking the fine line of investing for the future, while being stewards of the public dollar.
In the coming months, the general public along with our members will have the ability to attend a session outlining the demographic shift and the clear and present threat it presents to our economic vitality. A second session will enlighten the community on the current state of business and what our industries are facing both today and in the future. The third program will focus on the changing face of education as it adapts to support the needs of business and industry. The fourth event will feature a panel of local, regional and state government leaders. With a diminishing tax base and limited expenditure capacity, governments are forced to make difficult decisions to ensure our region is competitive in the global economy. The demographic shift, which is projected to encompass the next two decades, presents a significant economic threat to our community. If we are to build a thriving community, we, collectively, must come together to understand and acknowledge the threat and then take steps to attack it. These community conversations are a starting point. Watch for more information on these sessions in the coming weeks.
www.wausauchamber.com