UW organizes fall economic summit

A UW System statewide economic summit will help create a strategic plan for Wisconsin in the “New Economy,” organizers say.

The Wisconsin Economic Summit, meant to identify ways to strengthen the state’s place in the emerging global economy, will be held Nov. 29-Dec. 1 at the Midwest Express Center in downtown Milwaukee.

Read the Wisconsin Economic Summit “Case Statement,” which introduces the need for a strategic vision.

“We want the summit to assess where Wisconsin fits into the global marketplace, what strategies offer the most promise, what things ought to be avoided, and where the biggest opportunities lie,” says Jay L. Smith, president of the UW System Board of Regents. “It is our hope that the end result will be a very strong public policy and economic development vision for Wisconsin that resonates far into the 21st century.”

The Wisconsin Economic Summit will be built around seven key topics:

• Building quality jobs.
• Enlarging venture capital investment.
• Improving the regulatory climate.
• Educating the work force.
• Improving Wisconsin’s fiscal future and entrepreneurial climate.
• Enhancing key infrastructures.
• Building a distinctive brand/image to position Wisconsin as a technology and fast-growing jobs leader.

The Madison area’s burgeoning biotechnology sector, which has grown with the help of university research and initiatives, will be one source of ideas.

UW System President Katharine Lyall says the summit will consider strategies for maximizing New Economy innovation, science and technology, as well as Wisconsin’s future performance in the more traditional manufacturing and agriculture sectors.

“There are many voices weighing in on the issue of where Wisconsin’s economy ought to be five, 10 years from now,” Lyall says. “It’s logical that the UW System serve as a neutral forum for bringing these voices together. We intend to cast a large net and invite as many as possible to join a focused conversation that leads to specific strategies.”

In advance of the summit, academic and private-sector authorities plan to release a series of expert white papers examining key topics. Four regional subcommittees, including one based in Madison, will hold public forums to generate ideas around each of the seven key topics and to formulate draft recommendations that support the statewide strategic plan. Other activities also are planned.

“The truth is, Wisconsin’s economy is at a crossroads and we cannot assume that past policies and investments will continue to yield strong returns,” Smith says. “Working together, we can help Wisconsin respond to the forces of economic change and ensure a brighter future for all citizens,” he continues. “The Wisconsin Economic Summit is the right vehicle at the right time to engage this essential challenge. Let’s begin the conversation.”