— This week’s episode of “WisBusiness: the Podcast” is with Kip Ritchie, CEO of the Potawatomi Business Development Corporation.
Ritchie was named to the position in September after serving as interim CEO and chief operating officer, according to the group’s announcement. He was previously the president of Greenfire Management Services, a subsidiary company of the PBDC.
He discusses the mission and economic impact of the Milwaukee-based organization, which is owned and operated by the Forest County Potawatomi Community of Wisconsin, of which Ritchie is a member. It serves as the community’s economic development arm since being established in 2002.
“Really created — as many tribes have done around the country — to diversify the tribe’s economy, to build capacity, capabilities, infrastructure, business acumen,” he said. “Our mission is to generate wealth and improve the quality of life for the tribe.”
In the new leadership role, Ritchie says he aims to continue growing the PBDC’s business interests. These include federal government contracting, construction management, real estate development, data processing, entertainment and more.
“We also are opportunistic, right, continuing to venture into new businesses,” he said. “That’s an area that is of specific interest to me as well.”
Ritchie previews a new convenience store model from the PBDC called Fireside Market, which is slated to launch in the near future. And he says the organization is looking to get involved in electric vehicle supply chains.
“We have more work to do there, but we see a huge opportunity in that space as well,” he said.
Listen to the podcast here: https://www.wisbusiness.com/2023/wisbusiness-the-podcast-with-kip-ritchie-potawatomi-business-development-corporation/
See the full list of WisBusiness.com podcasts: https://www.wisbusiness.com/category/podcast/
See the September announcement: https://www.prweb.com/releases/kip-ritchie-named-chief-executive-officer-of-potawatomi-business-development-corporation-301928844.html
— The managing director of New Land Enterprises — the developer behind Milwaukee’s Ascent apartment building — predicts mass timber construction is set to take off “on a national scale.”
Tim Gokhman was the featured guest during the latest Newsmaker Luncheon hosted Wednesday by the Milwaukee Press Club and WisPolitics.com. New Land Enterprises, launched in 1993, is responsible for multiple high-profile apartment projects in Wisconsin’s largest city.
The Ascent building, which opened last year in downtown Milwaukee, is the tallest mass timber building in the world at 284 feet.
“Mass timber is coming. It’s coming on a national scale … most development teams are at least two to three years behind us across the country,” he said. “The idea is to keep moving at speed, and continue to be a leader and have that first-mover advantage.”
He said the company is eyeing Denver and locations on the West and East Coasts for opportunities to apply the mass timber model elsewhere.
When asked about the “next potential hotspot” for development in the city, Gokhman pointed to Walker’s Point. It’s Milwaukee’s oldest neighborhood, according to Historic Milwaukee Inc., and retains “key aspects” of its historical aesthetic.
“There are a ton of development opportunities in Walker’s Point. So I think that we’re going to continue to see really cool things happen in Walker’s Point,” Gokhman said.
He also emphasized the importance of major metropolitan areas focusing on “pedestrian-friendly” development and mass transit options, noting he sees cities like Seattle, Denver and Nashville as Milwaukee’s main competition.
“Every city that you would look at and you would say, ‘That is an economically vibrant and successful city,’ all of those cities have mass transit or are walkable,” he said. “There is no city that’s had the strategy of, let’s make it super easy to drive and super easy to park, and that’s led to economic development. Not a single one.”
He argued further investment into mass transit and walkable infrastructure is a crucial economic development tool that will help Milwaukee stay competitive with other large U.S. cities.
Watch a video of the event here: https://www.youtube.com/watch?v=qh7hzpmHPe4
See more on the Ascent and other New Land Enterprises projects: https://newlandmke.com/our-projects/
— UW-Madison’s annual research spending exceeded $1.5 billion for the first time in the previous fiscal year, according to National Science Foundation figures.
The university yesterday announced it was ranked 8th among more than 900 public and private universities covered in the NSF survey. The Higher Education Research and Development data shows research expenditures at UW-Madison rose 10% over the prior fiscal year, for an increase of more than $143 million.
Between July 2021 and June 2022, the university reported more than $1.52 billion in total research expenditures, with about half coming from federal awards.
In a statement on the ranking, UW–Madison Chancellor Jennifer Mnookin noted the university is “among the relatively few elite institutions” in the country that spend more than $1 billion on research per year.
See the full data set: https://ncses.nsf.gov/surveys/higher-education-research-development/2022
See the release: https://news.wisc.edu/uw-madison-remains-8th-in-research-ranking-surpasses-1-5-billion-in-research-expenditures/
<br><b><i>Top headlines from the Health Care Report…</b></i>
— COVID-19 vaccines helped reverse a pandemic-related increase in premature births, a UW-Madison study found.
<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>
Sign up here: http://forms.gle/o8FtqTLviGJPja8C9
#TOP STORIES#
# GOP bill would pull farmland tax credits from farmers hosting solar power installations
http://wisconsinagconnection.com/story-state.php?Id=1042&yr=2023
# Appleton Airport expansion will double the facility’s size, builds on recent passenger growth
# See inside Fiserv Forum as RNC organizers offer first glimpse
#TOPICS#
# AGRIBUSINESS
– WFBF proposes farm bureau health plans for Wisconsin
http://wisconsinagconnection.com/story-state.php?Id=1040&yr=2023
– Emmi Roth opens new cheese facility
http://wisconsinagconnection.com/story-state.php?Id=1041&yr=2023
# BANKING
– Wisconsin bank profitability down in Q3, but loans, deposits grow
# CONSTRUCTION
– Wisconsin may remove lead pipes faster as EPA unveils aggressive new timeline
# EDUCATION
– Wisconsin teacher pay has lagged inflation for 15 years, report says
– Wisconsin teacher pay is lower than it was a decade ago, despite some 8% raises
# ENTERTAINMENT
– Rosebud Cinema in Wauwatosa sets a reopening date after being closed since 2020
# ENVIRONMENT
– Wisconsin’s deer donation program is shrinking
# LABOR
– Milwaukee Water Works showcases employee-led training center
# MANAGEMENT
– Former Harley-Davidson executive joins A.O. Smith
# MANUFACTURING
– Sussex IM sells its Mr. Lid brand to Las Vegas-based marketing agency
# NONPROFIT
– Wisconsin nonprofit receives $1.25M gift from fund created by Jeff Bezos, MacKenzie Scott
# POLITICS
– 2024 RNC organizers, national media gear up to ‘maximize coverage’ of four-day spectacle
# REAL ESTATE
– Forest County Potawatomi moving forward with business park at former Dairyland site in Kenosha
– Potawatomi begins work on Kenosha business park and multifamily project
# SPORTS
– Packers Fan of the Year nominee, YouTuber raised $500,000 for St. Jude’s
# HOSPITALITY & TOURISM
– Iron Horse Hotel owner Tim Dixon strikes a deal to resolve foreclosure
– More hotel foreclosures could be coming as Milwaukee prepares for a busy 2024
# UTILITIES
– As utilities close coal-burning plants, debate shifts to role of natural gas in energy future
# PRESS RELEASES
<i>See these and other press releases:
https://www.wisbusiness.com/press-releases/ </i>
Wisconsin Society of Association Executives: Elizabeth Schlicht, CAE, installed as Chair-Elect
