–submitted by Bill Haight; photo by Jeff Burkhart
This week’s speaker was Tom Still, President of the Wisconsin Technology Council, a non-partisan advisory group to the governor and legislature. In addition to policy development, the council’s activities include facilitating collaboration between companies and investors.
In promoting Wisconsin as a place to invest and locate business, Still cited the state’s many advantages such as affordable housing and water in strong supply, both of which can be big drawbacks in other states. He also pointed out that despite a perception of being a “high tax” state, Wisconsin’s taxes are steadily decreasing. Also, Wisconsin is finally getting on the national investment community’s radar, with numerous startup hubs, particularly in smaller cities like Eau Claire and La Crosse.
Wisconsin’s high quality of education is another plus. And in recent years the UW System has become more nimble to react to the type of graduate needed in the new economy. “The Ivory Tower is giving way to a more inclusive approach toward business,” he said.
On the state’s possible incentive for Foxconn, Still said: “I think it’s well worth pursuing.” We should ask “How much would you pay to essentially rebrand the state AND create jobs that support families while attracting young workers and offering underemployed workers a chance to retrain?” The Foxconn investment is less than one percent of the state GDP for one year – but spread over 15 years, he noted.
Possibly more important than the 13,000 promised Foxconn jobs are the indirect effects on the supply chain. “For example, a new glass factory or other manufacturer might spring from Foxconn’s material needs,” said Still.
In closing, Still invited the audience to check out 45 new companies presenting to investors at the November Early Stage Symposium (www.wisearlystage.com).
If you missed our meeting this week, you can watch the video here.