MILWAUKEE — The Milwaukee 7 Economic Development Partnership has recognized the Racine County Economic Development Corp. (RCEDC) with its inaugural Excellence in Economic Development Award, M7 officials announced Wednesday.
The award, which recognizes outstanding economic development projects and partnerships that have contributed to the economic vitality of the Milwaukee region, was presented during M7’s annual meeting at Northwestern Mutual’s headquarters in Downtown Milwaukee. RCEDC President Greg Barron, Executive Director Jenny Trick and members of the RCEDC staff were present to accept the award.
“Racine County has been a valued and trusted M7 partner over the years, with a mission of connecting communities, facilitating jobs and growing businesses,” M7 co-chairman Gale Klappa said. “We thank the team in Racine for all of its hard work and the exceptional contributions it is making to our region’s economic growth and prosperity.”
The Interstate 94 corridor south of Milwaukee has been one of the M7 region’s most active areas for economic development over the past several years. A wide variety of businesses are moving into the area, including a recent spike in businesses moving across the state line from Illinois, according to M7.
Although many public and private entities have contributed to this surge in development, M7 leaders recognized RCEDC in particular for unique contributions. RCEDC recently completed its 2017-2019 strategic plan cycle which included:
- 58 completed recruitment or expansion projects;
- More than 1,000 jobs created (not including Foxconn jobs created in 2019 that have not been reported yet by Wisconsin Economic Development Corp.); and
- Approximately $700 million in private investment.
Those projects include new construction and expansion of InSinkErator, Seda USA, Fischer USA, Crescent Electric and Poclain Hydraulics.
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Critical role in Foxconn project
Most notably, in 2017, M7 and RCEDC worked together as part of the team that landed the Foxconn project. To date, the total value for contracts awarded at the park is approximately $372 million.
RCEDC also has tracked and supported industrial spec development by Ashley Capital and Hillwood, medical development by Advocate Aurora Health and Ascension and office spec development by St. Johns Properties.
Several single and multifamily developments are under construction from firms such as Wangard Properties, Sawall Development and Pre/3 Development.
“The Racine County Economic Development Corporation is honored to receive the Excellence in Economic Development Award,” Barron stated. “We are very proud of our work in Racine County, and we are pleased to stand in partnership with Milwaukee 7, and our state partners at WEDC and the governor’s office.”
RCEDC and its partners provide Racine County businesses with a wide array of services needed to complete an expansion, relocation, financing, or workforce development project.
The Milwaukee 7 is the regional economic development partnership of the seven southeastern Wisconsin counties of Kenosha, Milwaukee, Ozaukee, Racine, Walworth, Washington and Waukesha, dedicated to growing, expanding and attracting business and talent.