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The New North: From Concept to Reality

The New North: From Concept to Reality. The Fox Valley WDB – “What’s happening?”. The. The concept of a regional plan emerges. The. How it Got Started. The New North Measuring Up Looking Ahead Moving Ahead. Networking Welch & Winters. The Bay Area WDB joins in. The project evolves.

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The New North: From Concept to Reality

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  1. The New North:From Conceptto Reality

  2. The Fox Valley WDB – “What’s happening?” • The • The concept of a regional plan emerges • The How it Got Started • The New North • Measuring Up • Looking Ahead • Moving Ahead • Networking Welch & Winters • The Bay Area WDB joins in • The project evolves

  3. October 2004 Key players/leaders emerge The Governor speaks The Plan is Launched! • The New North • Measuring Up • Looking Ahead • Moving Ahead

  4. Private sector leadership Money A plan A professional staff Buy in The Keys to the New North • The New North • Measuring Up • Looking Ahead • Moving Ahead

  5. Basis for forming the New North Economic Partnership and all that followed Outside assessment – “We want a plan like the New North plan.” Stimulated economic development thinking within the New North region Led to other regional plans Centergy, Grow North, UP/Wisconsin Border Region Is the New North plan a success?

  6. UP/WI Border Region Regional Organizationand Thinking MI WI MN IA

  7. Measuring Up:What has happened and where are we?

  8. Leverage the regional brand Attract, develop and retaindiverse talent Advance educational attainment Target growth opportunities Build entrepreneurial climateand small businesses Incorporate sustainability Key Strategies • The New North • Measuring Up • Looking Ahead • Moving Ahead

  9. Formation of the New North Inc. A strategy to work the plan Hiring a first rate executive director The economic summits The branding initiative Targeted initiatives Key Events Since 2004 • The New North • Measuring Up • Looking Ahead • Moving Ahead

  10. The Wind Energy Cluster • Sustainability and Green Jobs • Cellulosic Bio-Fuels Studies and Plans Some Leading EdgeThinking and Action • The New North • Measuring Up • Looking Ahead • Moving Ahead

  11. Looking Ahead:The New Normal Economy

  12. There is and will be bad economic news for at least six more months. • The most successful Wisconsin industries – paper and dairy- came out of economic crisis • Many Wisconsin industries were initial failures - paper • T Perspective &AttitudeAdjustment • The New North • Measuring Up • Looking Ahead • Moving Ahead

  13. The Last 11 Recessions • The New North • Measuring Up • Looking Ahead • Moving Ahead Source: The National Bureau of Economic Research

  14. What makes this recession different from the last fivemajor recessions? 28 years since last major downturn First recession experience for1+ generation(s) The multiple sources of economic trouble & risk The speed and depth of the economic downturn The first major recession inthe age of the Internet • The New North • Measuring Up • Looking Ahead • Moving Ahead

  15. 2003 1.4 million 2004 1.85 million 2005 1.95 million 2006 2.07 million 2007 1.81 million 2008 .95 million 2009 .55 million U.S. Housing Starts • The New North • Measuring Up • Looking Ahead • Moving Ahead Housing = 4% GDP Normal Replace/Growth 1.3 million

  16. 2004 17.7 million 2005 16.9 million 2006 17.0 million 2007 16.1 million 2008 13.2 million 2009 (Est.) 9.9 million U.S. Auto Sales • The New North • Measuring Up • Looking Ahead • Moving Ahead Decline: 18% in 2008; 25% in 2009 Autos = 3.5% of GDP Past declines: 21% in 1974;19.1% in 1980

  17. The GlobalEconomy 2008 World Population (Market) 6.5 Billion U.S. Population 0.3 Billion • The New North • Measuring Up • Looking Ahead • Moving Ahead World Economy (GDP) $60.6 Trillion U.S. Economy $14.4 Trillion EU Economy $18.4 Trillion China’s Economy $4.3 Trillion Source: 2006 Estimates IMF and World Bank

  18. Furloughs and wage freezes and give backs Mercury Marine Milwaukee labor contracts State furloughs Unemployment Housing glut/Housing cycle Consumer deleveraging Consumer savings rate> – to + New financial regulations Generational reality check Economic Excess/Overhang • The New North • Measuring Up • Looking Ahead • Moving Ahead

  19. The Budget Deficit:A Threat to the Dollar • The New North • Measuring Up • Looking Ahead • Moving Ahead

  20. So what is the“New Normal”? Savings Rate Spending Work Life Standard of Living Consumer: • The New North • Measuring Up • Looking Ahead • Moving Ahead ä æ ä æ

  21. Regulation Outsourcing Globalization Business Cycles So what is the“New Normal”? Business: • The New North • Measuring Up • Looking Ahead • Moving Ahead ä æ ä ä

  22. Moving Ahead: Where do we gofrom here?

  23. A back to basics economy • Huge global markets • A versatile workforce • Alignment with market opportunities • A In the New Normal economy, where is the advantage? • The New North • Measuring Up • Looking Ahead • Moving Ahead

  24. Energy Fiber Protein Key Global Market Demand • The New North • Measuring Up • Looking Ahead • Moving Ahead

  25. Waste transformation & technology • Higher education & training • International direct investment Some Economic Opportunities • The New North • Measuring Up • Looking Ahead • Moving Ahead

  26. New North is full of waste producers – meat packing, paper, dairy farms and processors, etc Waste transformation is green Academic and private sector research assets Some proven models & pilots e.g. Encap The world’s largest fresh water clean up project. Why waste transformation?

  27. Large markets – global markets UW, private colleges, proprietary, and WTCS assets Private sector training programs Good paying jobs Students as “educational tourists” Higher Education and Workforce Training

  28. The record of foreign direct investment in the New North A different investing perspective and timeline An interest in R&D – Fincantieri, Kikkoman, Roche UW Task Force on International Investment Foreign Direct Investment

  29. Focus on the plan: Most regions don’t have a strategic plan Think globally: The markets increasingly are over there Position for the next recovery: It will come and those with a good plan will prosper Parting Thoughts • The New North • Measuring Up • Looking Ahead • Moving Ahead

  30. David J. Ward, Ph.D., CEO • Phone: (608) 279-3393 • Email: dward@northstareconomics.com • Fax: (608) 441-8064 • Web:www.northstareconomics.com

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