
The Milwaukee 7 undertook a
strategic planning effort to define the region’s competitive advantages
and target markets. To ensure that we are using our resources wisely,
and to ensure a workable long-range plan, the Milwaukee 7 developed a strategic
framework to define our strategic advantages and determine who can benefit most from them, giving us specific industry targets.
The
We have
defined regional assets as those that are fundamental to, or pose unique
opportunity for, the Region's long-term prosperity. These include:
Assessing Export Drivers
The
Roughly one-third of those one million jobs drives the export of goods and
services beyond our regional borders, thereby creating new income for the
Region. These "export drivers" power our economy. For
every job in the driver category, conservatively one other job is created to
support that job. The direct and indirect spending from these 600,000
jobs generates another 400,000 jobs that support the Region - from dentists to
drycleaners and teachers to technicians.
Top regional export driver industries include: Manufacturing (173,305 jobs,
$8.7 billion payroll), Financial Services (49,871 jobs, $2.9 billion payroll),
Headquartered Companies/Management (20,148 jobs, $1.7 billion payroll) and
Information Technology (12,770 jobs, $885 million payroll).
Mapping Opportunity Zones
The opportunities created by aligning export drivers with
our assets will produce specific strategies for driver industries and
build a regional agenda. For example, in manufacturing, the Region is home to a large number of "Next Generation" manufacturers. These firms are technology driven, innovative, lean and agile. Many employ workers with higher skills and productivity and increasingly are using a more sophisticated level of technology.
These firms present opportunities for growth, and their needs are well matched to the assets of the Region. The needs include:
The Strategic Framework will also allow
us to assess emerging, global trends. Unique opportunities such as clean
and green technologies, advances in biotechnology and water research present
new and exciting prospects to be a front-runner in these fields, creating new
driver industries for long-term sustained growth.
To develop the full Regional Agenda, we must stop, keep and start doing the
right things:
STOP:
Becoming trapped by our challenges and holding the 'best kept secret' that is
the
CONTINUE:
Building on our assets and working for a completitive cost of doing business
START:
Building alignment around regional solutions and for issues like
transportation, water and talent
Manufacturing is the Milwaukee
$8.7 billion
in payroll and 57% of export driver jobs in the region.