Economic report shows growth locally
By: Terry Kovarik
Updated: December 7, 2012
Green Bay, Wis.(WFRV)-- A new survey finds Northeast Wisconsin, and the entire state - seeing economic growth.
Local companies are enjoying double-digit increases in sales and profits.
But as local five's Terry Kovarik reports, survey organizers say *job growth* is moving up at a slower pace.
Attendees at the New North Summit in Appleton got some good news. The 20-12 First Business Bank Economic Survey reports Northeast Wisconsin business saw sales grow between eight-and-thirteen percent from last year. Manufacturing profitability also increased about 16-percent from 20-11. First Business officials say that indicates some lost ground has been made up.
Mickey Noone:"The steady slow climb, in essence, has kind of gotten us to the pre-recession levels. So, a positive. While I think people would love to see high growth, it's not just happening."
Job growth lags behind profit and revenue gains. Noone says that's due partly to business investment in new technologies that boost productivity. Another, as addressed by Governor Walker, is the skills gap. Companies that jobs available are not finding applicants with the needed skills, which hinders expansion.
Gov. Scott Walker:"We're just afraid to do that because if we can't fill the jobs we currently have open, how do we take the risk of expanding our customer base. if we can't fille the orders we already have today?"
But Noone says, area technical colleges are giving the region an edge in closing the gap.
Mickey Noone:"Northeast Wisconsin is doing a fabulous job tooling these people up to get them educated, to get them in the right spots to do the right job."
And gear up Northeast Wisconsin for future growth.
The First Business Bank survey also found that only 32-percent of Northeast Wwisconsin businesses are performing below expectations.
Check out the New North website for more on today's summit.
Check out the New North website for more on today's summit.
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