Letter from Rep. Petryk: Wisconsin's investment and economic climate improving
In separate reports released by the Governor’s office, there is strong evidence that Wisconsin is improving both economically, and in private firms investment in our state. My colleagues and I, in conjunction with the Governor’s office, have diligently worked to improve the state’s economic climate while creating a business friendly state for start-up businesses as well as retaining our current businesses.
In 2012, private equity firms invested roughly $9.1 billion in the state of Wisconsin. This places our state at 14th nationally in investments according to the Private Equity Growth Capital Council report. Since the report has been published, Wisconsin finally broke in to the top 20 for the first time. This is a testament that the hard work and the difficult decisions we have been making are starting to bear fruit. Also, outside investors have more confidence that investing in Wisconsin is a good business decision as our tax reforms and our own investment to grow our economy are seen as positive steps forward.
Our Governor has also set aside $25 million in our state’s new 2013-15 biennial budget for the creation of the Investment Capital Program. This program, which was created by Assembly Bill 181, will require any businesses receiving investments to have their headquarters and at least 50% of their full-time employees located in Wisconsin. Half of the money invested from the fund must also go to companies that have no more than 150 employees. Companies that relocate within three years of receiving an investment must repay the total amount received, which will then be reinvested into one or more eligible businesses.
In a separate report, Wisconsin has moved up to 20th in the nation according to a leading economic indicator, the Federal Reserve Bank of Philadelphia’s leading index. This index uses state housing data, initial unemployment insurance claims, the Institute for Supply Management manufacturing survey, and prior coincident indexes created by the Federal Reserve Bank of Philadelphia to determine their rankings. Due to increases in wages, manufacturing jobs, revenue, and a lower unemployment rate, these key economic indicators prove that Wisconsin is making the correct decisions and creating jobs.
The indicators show the following:
Wisconsin’s initial unemployment insurance claims are at pre-recession levels.
Building permits are 22.6% higher than prior year levels.
Wisconsin was recently ranked 5th in the nation for manufacturing job creation according to CNBC.
Milwaukee’s manufacturing index rose in June and is higher than the national index.
Wisconsin’s percent change in average weekly wage in the fourth quarter of 2012 was 12th in the nation.
As you can see, Wisconsin is recovering and I will continue to make the tough choices necessary to help us move forward. This new information is very encouraging and I am confident that all the challenging decisions we have made in the state legislature are continuing to generate real and positive results that will benefit all my constituents.
July In-District Office Hours
I will again be holding in-district office hours on Monday July 29th, 2013. The goal of office hours is to welcome constituents from the 93rd Assembly District to come and speak directly to Representative Petryk on issues of importance to them.
The following are the times and locations for office hours. Individual constituent meeting times will be based on a first come first serve basis as time allows:
July 29, 2013
Prescott: Prescott City Hall – Council Chambers
9:00-10:00 a.m. 800 Borner St
Prescott, WI 54021
Pierce/ Pepin Cooperative: W7725 US Hwy 10
11:00-12:00 p.m. Ellsworth, WI 54011
Plum City: Senior Center
1:00-2:00 p.m. 501 Main St
Plum City, WI 54761
Spring Valley: Spring Valley Village Hall
3:00-4:00 p.m. E121 South 2nd Street
Spring Valley, WI 54767
Upcoming Events in the 93rd Assembly District
Eau Claire July 24-28th - Fair
Eau Claire County Exposition Center
Dunn July 24-28th Fair Grounds, Menomonie
Buffalo August 1-4th Fair Grounds, Mondovi
Pierce August 8-11th Fair Grounds, Ellsworth
Durand Blues on the Chippewa August 2-4th
Eau Claire Summer Fest Family Night in the Park August 3rd http://ecsummerfest2013.eventbrite.com/
Eau Claire Pioneer Days August 9-11th
Downsville Day August 24th
Eau Claire Festival in the Pines August 24-25th http://www.festivalinthepines.com/
Prescott Daze September 6-8th http://prescottdaze.com/
Pepin Laura Ingalls Wilder Days September 14-15th http://www.lauradays.org/
Durand Rod and Gun Club Chicken Dinners July 25 August 8, 22
September 5, 19
October 3, 17