— This week’s episode of “WisBusiness: the Podcast” features an interview with Dean Haen, director of the Port of Green Bay.
Local officials recently announced the economic impact of the port reached $217.3 million last year, marking a $70 million increase since 2017. Plus, the port supports 1,620 jobs in the state — an increase of 331 jobs over the same period.
“That’s a significant increase, and it demonstrates the strength of northeastern Wisconsin’s economy,” he said.
The port largely serves the state’s agricultural, manufacturing and construction industries, Haen explains. Its 14 terminal operators, which are spread across a three-mile portion of the Fox River, collectively moved more than 1.75 million tons of cargo during last year’s shipping season.
According to Haen, the additional jobs are largely due to shifts in the types of cargo passing through the port, rather than additional capacity.
“We’ve made a focus years ago to try to diversify the cargo offerings the port has, so we can weather the ups and downs of different economies, different industries,” he said. “And that diversification is really the driver … During this window of time, coal has decreased in use from over 1 million tons per year down to less than 200,000. We’ve been able to back-fill that with more diversified cargo offerings.”
He also touches on recent supply chain trends, impacting both the port’s clients and its own plans.
“You’ve got all this construction going on, so when we’re trying to build a new port facility, the cost of steel is tripled,” he said. “Because you’ve got all this infrastructure money, you’ve got limited contractors and they’re all trying to pull from the same supply chain.”
Listen to the podcast here: https://www.wisbusiness.com/2023/wisbusiness-the-podcast-with-dean-haen-port-of-green-bay/
See the full list of WisBusiness.com podcasts: https://www.wisbusiness.com/category/podcast/
— In the latest episode of “Talking Trade,” economist and UW-Madison Prof. Emeritus Ian Coxhead discusses recent developments in Asian markets and other trends.
Coxhead, a former co-host of the show, is now a senior research fellow at the Institute of Developing Economies in Tokyo. He shares his perspective on China’s economy, noting its central economic role for other nations in Asia.
“Before the global financial crisis, China was doing great with all of these policies and efficiency gains. Since about 2010, a lot less growth. And this year, much, much less growth in the Chinese economy,” he said.
He explains China has been challenged by slow growth, aging population, a shrinking labor force and financial instability.
“All of these things are not the product of the Trump trade wars and the terrible Chinese response to COVID-19, but they have been exacerbated by those as well,” he said. “Chinese households, they’re getting scared. Their savings are tied up in real assets and stuff like that, so they’re really unwilling to spend at the moment.”
Coxhead added Chinese skilled labor is still very limited, despite national workforce investments. And major efforts, such as the global Belt and Road Initiative infrastructure project, have been “very costly with very little payoff” for the country’s economy.
He also highlights ripple effects on other middle-income countries that have relied on the Chinese market to prop up their growth.
Watch the latest episode here: https://www.wisbusiness.com/2023/talking-trade-with-uw-madison-prof-emeritus-ian-coxhead/
“Talking Trade” is now available in audio form on Apple Podcasts and Google Podcasts. Subscribe and find more episodes here: https://www.wisbusiness.com/category/talking-trade/
— Industrial water use in Wisconsin has dropped by a third over the past two decades or so as businesses use the resource more efficiently.
But other economic trends are also driving this shift, according to a new Wisconsin Policy Forum report. The group found statewide total water sales by utilities dropped by 18 percent between 1997 and 2022, for a decline of 30.4 billion gallons.
After hitting a peak of 175 billion gallons of water in 1998, the state has seen a steady decline in utility water sales. That figure fell to a low of 134.6 billion gallons in 2019, the report shows. On a per-capita basis, water sales dropped 28.5 percent over the same period, from 33,400 gallons per person in 1998 to 23,300 per person in 2022.
WPF found residential water purchases declined by 10.5 billion gallons, or 16 percent, during the study period. And commercial water purchases decreased by 3.4 billion gallons, or 8.2 percent. Report authors point to efforts by homeowners, apartment renters and businesses to reduce water use as one factor.
But industrial water use has seen the greatest change, with a decline of more than 17.2 billion gallons, or 34 percent.
“The decline in industrial water purchases, however, is a more complicated story than one of simple advancements in water conservation,” report authors wrote.
According to WPF, declining water use in manufacturing has been “heavily affected” by a drop in overall industrial activity, particularly in certain industries such as papermaking and food production. And aging and inefficient plants are more likely to be closed.
But at the same time, industrial water consumers have become much more efficient, the report shows. The state saw about $1.17 of gross domestic product generated per gallon of water purchased by industrial users in 2005, but that number had risen nearly 44 percent to $1.68 per gallon by 2022.
“The gains in efficiency and loss of industrial customers have left many Wisconsin water utilities with considerable excess capacity,” report authors wrote. “That could make Wisconsin a more attractive location for companies considering where to site water-intensive factories such as microchip plants.”
See more in the report: https://www.wisbusiness.com/wp-content/uploads/2023/09/230921WPFReport.pdf
— August home sales in Wisconsin dropped 18.3 percent over the year, according to the latest Wisconsin Realtors Association report.
A total of 6,889 homes were sold in the state last month, compared to 8,432 in August 2022.
And the median home price rose 10 percent year-over-year, reaching $300,000 last month. WRA notes August marked the third month a row the statewide median price has been that high.
And though total statewide listings dropped 13.8 percent over the year — from 21,762 to 18,766 — WRA Board Chair Joe Horning says he’s encouraged to “see the 12-month decline in new listings tail off so dramatically” last month.
“We’ve been accustomed to year-over- year reductions in new listings that exceed 20%, so hopefully this signals a turning point in our inventory problems,” he said.
Plus, statewide inventory levels increased 13.3 percent year-over-year, from 3 months to 3.4 months.
But WRA President and CEO Michael Theo noted mortgage rates are headed in the wrong direction, increasing to 7.1 percent from 5.2 percent a year ago.
“We’re seeing what this does to affordability, and it’s keeping some first-time buyers on the sidelines,” he said. “Hopefully we see rates begin to fall as we move out of the peak season for home sales.”
See the release: https://www.wisbusiness.com/2023/wisconsin-realtors-association-report-wisconsin-housing-inventory-improves-slightly-but-seller-advantage-continues/
See the full report: https://www.wra.org/HSRAug2023/
<br><b><i>Top headlines from the Health Care Report…</b></i>
— State health officials today announced more than $1.1 million in grants for law enforcement agencies, supporting efforts to fight the opioid epidemic.
<i>For more of the most relevant news on COVID-19, reports on groundbreaking health research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics.com and WisBusiness.com.</i>
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#TOP STORIES#
# Wisconsin school districts not spending federal funds on upgrading aging HVAC
# Tax credits for green energy updates: Here’s how to get yours
# Haribo plans to double size of Pleasant Prairie plant as it looks to build 2 million square feet
#TOPICS#
# AGRIBUSINESS
– Wisconsin Corn promotion board accepting nominations
http://wisconsinagconnection.com/story-state.php?Id=860&yr=2023
– Wisconsin agriculture grant promotes agriculture literacy
http://wisconsinagconnection.com/story-state.php?Id=861&yr=2023
# CONSTRUCTION
– $700M Brewers stadium overhaul proposal comes with new contracting language
# ECONOMY
– Wisconsin parents scramble for child care as politicians at impasse
– Inventory improved, but Wisconsin housing market still favors sellers
# EDUCATION
– Wisconsin Superintendent says cutting DEI programs hurts children of color, LGBTQ+ students
– How Wisconsin schools ranked in the latest Best Colleges list
# HEALTH CARE
– Wauwatosa-based Splash Clinical sees 429% growth rate over three years
# MANUFACTURING
– Pleasant Prairie manufacturer once owned by Honeywell sold to family-owned firm
# NONPROFIT
– City, nonprofits to receive $3 million federal funding to fight youth homelessness
– Mounted search: Whitewater nonprofit deploys horses to help find missing people
# POLITICS
– Milwaukee County approves transgender and nonbinary sanctuary measure
# REAL ESTATE
– Mayfair mall apartment deal includes more money for affordable housing than for land sale
# REGULATION
– City to increase oversight of Milwaukee Housing Authority properties
– Appleton council rejects bird-safe glass resolution, saying it’s not a high priority for city
# RETAIL
– Haribo considers Wisconsin for its first U.S. store and visitor center
– New African grocery store opens in downtown Green Bay https://www.greenbaypressgazette.com/story/money/2023/09/21/green-bay-gets-new-grocery-store-selling-products-from-africa/70901750007/
# TECHNOLOGY
– Study ranks Madison as the best Midwestern metro for tech development
# TOURISM
– Outdoor wheelchair program makes state parks and forests accessible
# PRESS RELEASES
<i>See these and other press releases:
https://www.wisbusiness.com/press-releases/ </i>
PSC: Releases Wisconsin Digital Equity Plan for public comment
