WisBusiness: New Commerce secretary is bullish on international trade

By Brian E. Clark

WisBusiness.com

During his more than two decades with the JP-Marathon and Interglobia development consulting firms, Wisconsin Commerce Secretary Jack L. Fischer frequently worked abroad on projects from Europe to Latin America and beyond.

Fischer, an Appleton architect who took the helm at Commerce late last month, will soon be on the road again. His office announced Monday that he will lead a trade mission to the United Kingdom and Ireland from March 10-14 next year.

The mission is open to all Wisconsin companies interested in establishing or expanding their sales in Ireland and Great Britain, along with organizations interested in attracting foreign investment, he said.

“Exports are extremely important to our state and its continuing economic development,” said Fischer, who served on the Wisconsin International Trade Council. “The international piece of our economy is only going to get stronger.”

Since 2003, Fischer said exports have jumped more than 60 percent. “In the last calendar year, Wisconsin’s exports have increased by 16 percent,” he said, praising initiatives by Gov. Jim Doyle. “They are now up to $17.2 billion.

“The governor has taken a very focused approach,” he said. “We are now planning investment seminars in China to get people there to look at Wisconsin as a place to invest.”

Fischer said the United Kingdom is Wisconsin’s fifth largest export destination and most significant trading partner in all of Europe. Exports from Wisconsin to the UK have consistently grown over the years and totaled more than $686 million last year.

The UK has the fourth-largest economy in the world and is the second-largest economy in the European Union, he said.

Ireland continues to be one of the fastest growing economies in the EU and is now entering its 13th consecutive year of economic growth.

Fischer said the Irish economy is extremely open to and dependent upon international trade and is a very receptive market to U.S. products. Ireland is Wisconsin’s 33rd largest export destination and purchased more than $62.1 million in Wisconsin goods in 2006.

Fischer, who earned his undergraduate and architect’s degrees from UW-Milwaukee, said he also will be working hard to develop increased domestic trade.

“I am passionate about Wisconsin, a strong believer in the governor’s economic policies and think I can do a lot to advance our state,” said Fischer.

He said he felt comfortable seeking the Commerce job — which former Trek Bicycle executive Mary Burke left Nov. 1 — because of his extensive background in economic development. He will be paid $117,500 a year at his new post.

“With 30 years in the private sector as an architect and consultant, I’m ready to give back to the state that has been so good to my family,” he said. “It’s the right time and place for me.”

Fischer said he will push Doyle’s economic strategies, which he believes will recruit new businesses to the state and help existing companies expand. He said he does not plan any major changes at the agency, which has a staff of 400 and an annual budget of $203 million.

In addition to the working on the governor’s export agenda, Fischer said he will collaborate with regional groups that are “doing a great job of creating economic development in their own areas.”

The new secretary said he plans to do what he can to bolster Wisconsin’s growing biotech and alternative energy industries, as well as agriculture, manufacturing and other sectors.

“In 2006, the biosciences in Wisconsin has more than 300 companies, supporting 25,000 jobs with over $8 billion in annual revenues,” he said. “That’s impressive and exciting.”

He also touted the research and spin-off businesses coming out of Wisconsin’s universities. He had particular praise for UW-Madison, which recently was awarded $125 million from the U.S. Department of Energy to establish the Great Lakes Bio Energy Research facility.

Fischer also said he will try to expand tax credits for angel fund investment networks, which invest in often risky, start-up companies.

“Having been involved in this from the private sector side, I can tell you that it means a lot to those small businesses to have some additional help,” he said.

For more information on the Ireland and Great Britain trade mission, contact Brad Schneider, Commerce, 920/420-1796 or brad.schneider@wisconsin.gov