Regional agency sets up satellite office
When it was first founded, the Momentum Chippewa Valley organization formed to help the region weather the economic impact of losing 3,000 jobs in Eau Claire.
Since the 1990s, however, the non-profit economic development agency has expanded its service area from its original three up to 10 counties and changed its name to Momentum West.
The organization, through its Executive Director Russ Korpela, works to encourage job creation and business growth in much of Western Wisconsin.
Still, for many years Momentum West has had a tough time shaking the impression they primarily serve the Eau Claire and Chippewa Falls communities.
But Korpela, who previously worked as the director of the New Richmond Area Chamber of Commerce, hopes to change all that.
“The organization has matured a little bit and we now work with all of our counties,” he said. “We take our responsibility to serve the counties along the river very seriously.”
Since taking his new job nine months ago, Korpela said he’s been working a lot in St. Croix, Pierce and Pepin counties to generate interest in the region.
About a month ago, Korpela opened a new satellite office for Momentum West on the Wisconsin Indianhead Technical College (WITC) campus in New Richmond. He said he’s there one or two days a week, and the office serves as the base of operations for his work on the western part of the Momentum West territory.
“It’s worked out great,” Korpela said of the new office. “It’s cut down on the amount of driving I do.”
Korpela said it makes sense to have an office near the border of Minnesota. He noted interest in Wisconsin has picked up in recent months as businesses look to possibly relocate to a state having a better tax atmosphere.
Wisconsin has always offered lower workers compensation costs, cheaper property costs and targeted tax credits that have benefitted businesses.
But an even bigger boost to Wisconsin-based businesses is about to go into effect. Korpela said the state has approved a new corporate income tax structure that will cut the current 7.9 percent rate down to an effective rate of 0.4 percent between now and 2016.
For more please read the July 4 print version of the Herald.