— This week’s episode of “WisBusiness: the Podcast” is with Colin Simpson, president of Imperien.
This Illinois-based construction management firm has worked on numerous projects in Wisconsin. Simpson discusses the company’s role in new project development, his approach to working with clients, the latest trends in real estate and associated strategies.
“We try to focus the entire company on industrial manufacturing, logistics, warehousing — and really, on the Wisconsin side of the border, most of it has been the manufacturing sector,” he said. “I really credit the manufacturer’s tax credit for that. I think Wisconsin has done a really good job of being friendly for manufacturers specifically.”
He says some of the firm’s “best, longest-term clients” are located in the Milwaukee market.
According to Simpson, logistics, warehousing and e-commerce development “shows no sign of slowing” right now, despite the possibility of an economic downturn.
He also shares his perspective on supply chain challenges seen in recent years, providing an update on material shortages linked to disruption from the COVID-19 pandemic.
“The biggest problem right now is in electrical service equipment … the transformers, the main panels, those are still hard to get. Generally about a year out,” he said. “It just underscores that it’s a process to do a new facility these days, and you really have to know the duration that it’s going to take.”
Listen to the podcast here: https://www.wisbusiness.com/2023/wisbusiness-the-podast-with-colin-simpson-imperien/
See the full list of WisBusiness.com podcasts: https://www.wisbusiness.com/category/podcast/
— Statewide home sales in July fell more than 20 percent over the year, according to the latest figures from the Wisconsin Realtors Association.
A total of 6,278 homes were sold last month in Wisconsin, compared to 7,931 in July 2022, for a decline of 20.8 percent.
That drop coincided with a 20.7 percent decline in the number of statewide listings for the month. WRA reports 18,345 listings in July, down from 23,137 in July 2022.
Meanwhile, the state’s median home price rose 7.5 percent over the year, from $279,000 to $300,000. July was the second month in a row in which the state’s median price was at or above $300,000.
WRA President and CEO Michael Theo notes rising mortgage interest rates pose a challenge for first-time buyers, who usually rely on financing to purchase a home.
“Unfortunately, rates have been moving in the wrong direction, with average 30-year rates at 6.84% in July,” he wrote in the report. “This is near the peak levels of last October when they averaged 6.9%. Hopefully we see improvement in the next few months.”
While sales figures were lower across every region of the state — with declines ranging from 16.7 percent decline to 25.2 percent — WRA notes regional price changes were “more variable.” Rural areas saw “flat to modest” increases in median prices over the past year, while larger increases were seen in the south central, southeastern and northeastern regions.
At the same time, rural areas saw the greatest improvements in inventory levels, the report shows.
Rural areas saw months of inventory rise from 4.3 months in July 2022 to 4.8 months in July 2023, while medium-sized areas saw smaller increases with inventory rising from 3.2 months to 3.4 months. Counties with large metropolitan areas saw no change at 2.9 months.
See the full report: https://www.wisbusiness.com/2023/wisconsin-realtors-association-report-inventory-remains-tight-pushing-sales-down-and-prices-up/
— Alliant Energy’s community-scale microgrid system in Richland County is now online, the utility company announced.
Located in the village of Boaz, the small-scale power grid has “islanding” capabilities, meaning it can disconnect from the greater grid and operate on its own if a power outage or other disruption occurs.
Village President Jean Nicks says Boaz has been hit by severe storms and power outages in the past that impacted utility services, public works and residential power.
“This new microgrid system supports our community and means we won’t have to worry constantly about outages that previously disabled equipment like our pumps for hours or days on end,” Nicks said, adding it will “deliver great savings for our village.”
When the project was announced in October 2021, the Madison-based company said it would improve power reliability for about 120 energy customers in the village.
See more details: https://www.wisbusiness.com/2023/alliant-energy-pioneering-microgrid-project-completed-in-richland-county/
— A Boston company called Orbita has acquired the assets of Madison-based health software startup Wellbe.
Orbita provides virtual assistant technology and workflow automation for the health care industry. According to a release, the acquisition includes Wellbe’s health care automation software, customers and select staff.
In a statement on the acquisition, Wellbe President James Dias said Orbita “has a stellar reputation in healthcare and we’re confident that clients of both companies will be well served by the expanded offering now available to them.”
The acquisition was finalized last week. Financial terms of the deal were not disclosed.
See more at Madison Startups: https://www.madisonstartups.com/wellbes-assets-acquired-by-orbita/
<br><b><i>Top headlines from the Health Care Report…</b></i>
— The UW School of Medicine and Public Health has announced new grant funding for efforts to improve maternal and child health in the state.
<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#
# More than 12K Wisconsinites to see student loan forgiveness under changes to income-based repayment plans
# Republican presidential debate a dress rehearsal for what’s to come in 2024
# Milwaukee software startup Secchi raises $1 million to help further automate the platform
#TOPICS#
# AGRIBUSINESS
– Wisconsin farmer partners with Meristem to offer crop inputs
http://wisconsinagconnection.com/story-state.php?Id=789&yr=2023
# EDUCATION
– Urban ag education thrives at Milwaukee Vincent High School
http://wisconsinagconnection.com/story-state.php?Id=793&yr=2023
– Holy Redeemer school in Milwaukee gets barred from voucher system, vows to stay open
# ENTERTAINMENT
– A meeting will explore nonprofit role at Wauwatosa’s Rosebud Cinema, closed since pandemic
# ENVIRONMENT
– Wisconsin’s wood turtles are a threatened species. Biologists are trying to protect their nesting sites.
– Bobcat population is growing in Wisconsin, but animals are still rare sight in the wild
# HEALTH CARE
– Froedtert CEO Cathy Jacobson: Leadership is a continuous journey
# INVESTING
– The startup seed deal landscape is changing — and not just because there are fewer deals
# LABOR
– Facing unique challenges, Wisconsin dump truck advocates seek to revive owner-operator rate
# POLITICS
– See photos from GOP primary debate in Milwaukee
# REAL ESTATE
– Wisconsin home sales drop in July. Signs of relief seen in rural areas
# SMALL BUSINESS
– Historic Monterey Hotel restored to former glory
# SPORTS
– Marquette basketball coach Shaka Smart on building leaders, creating team
– Milwaukee Mile expects 20,000 for its first NASCAR race in 14 years
# TOURISM
– Madison’s Magic Pride Fest draws crowds to Warner Park
– Luxury cabin nestled in woods east of Wausau bills itself as ‘sleep tourism’ destination. What is this trend?
# TRANSPORTATION
– Illinois-based logistics company DNJ Intermodal opens Mount Pleasant location
# UTILITIES
– Madison heat wave leaves power grids bracing for demand surge
# PRESS RELEASES
<i>See these and other press releases:
https://www.wisbusiness.com/press-releases/ </i>
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Minocqua Brewing Company: Files lawsuit against town of Minocqua
