Free Tuesday Trends sample: GE rising, household income mixed and dairy falling
Below is an excerpt from the most recent edition of WisBusiness Tuesday Trends.
The full version of this weekly look at the state of Wisconsin business is available for free to anyone who signs up for the Tuesday Trends mailing list.
The full product includes several items in each of the rising, mixed and falling categories plus a look at upcoming business events across the state.
To get the full version of Tuesday Trends in your inbox every week, sign up now for the free mailing list. (If the preceding link does not work for you, simply send an e-mail to email@example.com with "Subscribe to trends" in the subject line.)
WisBusiness also publishes a summary of state business news sent to paid subscribers every weekday.
Sign up for a free two-week trial of WisBusiness subscriber products.
GE: General Electric announces a trio of high-profile developments in Wisconsin -- one in Madison and two in the Milwaukee area. In Madison, the UW School of Medicine and Public Health, GE Healthcare and the Wisconsin Alumni Research Foundation announce a 10-year research agreement that will lead to GE spending an expected $32.9 million on imaging research at the university, including potential advancements in CT, PET and MRI scans. In a similar agreement, GE announces $3 million in funding toward a collaboration with the University of Wisconsin-Milwaukee. The funding will bolster the campus' GE Healthcare Center for Advanced Computational Imaging; the collaborative effort seeks to create new research and development of medical imaging software. Officials from both GE and UWM say the effort will keep area workers on the cutting edge of global health care technology. And outside the medical realm, GE opens a new engineering center at its gas engines plant in Waukesha, a $3.1 million facility that has resulted in 115 new GE employees over the last year and a half. The renovated engineering facility formerly belonged to Dresser Waukesha, which was acquired by GE early last year. Company officials say the center will help the company attract and keep the world's best tech workers.
Household income: The latest data from the U.S. Census Bureau shows a slight increase in Wisconsin household income. But that report also showed poverty in the state was up. The analysis showed median household income in Wisconsin in 2011 was $52,058 compared to $51,939 in 2010. That's also ahead of the national median income of $50,054. The percentage of Wisconsinites living in poverty, however, jumped from 10.1 percent in 2010 to 13.1 percent last year. That was still below the national rate of 15 percent. The report also said the number of Wisconsinites without health insurance increased last year over 2010, from 528,000 residents to 589,000.
Dairy: A state center that's helped bolster America's Dairyland's specialty cheese industry is set to shut down at the end of the month after eight years of operation. The Dairy Business Innovation Center, a nonprofit organization funded largely with federal dollars, has fallen victim to a congressional earmarks ban and indicates in a letter to clients that it was unable to raise $500,000 needed to continue operating. The center's consultants provide technical and marketing assistance to new and emerging specialty dairy businesses, launching 68 new specialty products and 43 new processing plants since 2004. DBIC officials say their relatively low consulting costs helped spawn record specialty cheese production here, questioning whether any other groups will help fill that role going forward. Meanwhile, dozens of congressmen and senators from both political parties -- including six from Wisconsin -- sound the alarm over a drop in the federal safety net for dairy farmers as debate over a new farm bill languishes in the Capitol. They ask congressional leadership for an extension of the Milk Income Loss Contract program until a new farm bill takes effect, saying even newly reduced coverage likely won't be triggered this year -- despite high grain prices and a drought that consumed much of the country.