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| ECONOMIC PROFILE Current Business Page |
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| Ground is breaking. No matter what gauge you use to measure industry and business activity, it's clear that Marinette County is "on the grow!" Ground is breaking, girders are swinging, and plants are growing all over the county. Our industrial parks are constantly modernizing and improving services to accommodate new industries and entrepreneurial efforts. It's clear from the testimonies of our local industrialists and independent surveys that our remarkable growth is not without good reason. Educational quality, strong local support, an honest, hard-working work force, Great Lakes shipping, and attractive communities all make those who come want to stay, and those who learn about us, want to do the same. |
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| The Peshtigo High Falls dam, built in 1910-1911 generated 18,000,000 kilowatt hours of electricity per year. |
| CURRENT UPDATES News from Don Clewley |
| TOP 10 EMPLOYERS IN MARINETTE COUNTY |
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August 8, 2008
Economic Week in Review: Fed pause sparks market rally As expected, the Federal Reserve kept its target federal funds rate at 2.0% on Tuesday. The news spurred a major stock market rally as the S&P rose 2.9% on the day of the announcement. Other economic headlines for the week were more mixed. Positive news included June factory orders, which increased at their fastest pace in six months and productivity, which rose at an impressive rate given current economic conditions. On the negative side, consumer debt saw its largest monthly increase in more than six months while modest improvements in the performance of the service sector did little to reassure investors. For the week, the S&P 500 Index also rose 2.9% to 1,296 (for a year-to-date total return of -10.6%). The yield of the 10-year U.S. Treasury note dropped 3 basis points to 3.94% (for a year-to-date decrease of 10 basis points). Fed decision reassures investors The Federal Open Market Committee (FOMC) kept its target federal funds rate at 2.0% Tuesday. The near unanimous vote to keep rates unchanged spurred a strong stock market rally as the S&P 500 Index rose 2.9% for the week. Going forward, the Fed faces a difficult decision about whether or not to raise interest rates. Tighter labor markets and a sluggish housing sector would suggest keeping rates at current levels to bolster economic growth. On the other hand, the 0.8% rise in consumer prices in June, the largest monthly increase since February 1981, may lend credibility to a rate hike later this year or early next if higher prices finally result in increased inflation expectations. Productivity climbs while labor costs remain in check Nonfarm productivity, which measures output per worker, rose 2.2% during the second quarter. Though the results fell short of economists' expectations, the news was seen as positive given current economic softness. Most importantly, labor costs, which rose a modest 1.3%, offered reassurances that core inflation is not worsening. Consumer credit debt continues to go up Outstanding consumer debt rose $14.3 billion in June (6.7% on an annual basis) to $2.586 trillion-the largest monthly increase since November 2007. The magnitude of the increase was somewhat surprising given the relative weakness of the economy and sagging consumer confidence. One explanation for the size of the increase may be the $27.9 billion in federal stimulus checks released in June. The extra cash may have encouraged consumers to take on additional debt. Personal incomes inch higher Personal incomes rose a modest 0.1% in June. While this number exceeded economists' forecast of -0.3%, it pales in comparison to the sharp 1.9% jump in May. One factor contributing to the relative weaker performance versus May results may be the impact of the tax rebate checks. While the federal government distributed substantial stimulus in June, the dollar amount was significantly lower than the $48.1 billion provided in May. Factory orders rise at fastest pace in six months June factory orders rose at their fastest clip in six months. The 1.7% spike easily beat economists' forecast of 0.7%. Major factors contributing to the jump include: 1) a 5.2% surge in orders for primary metals; 2) a 16.9% increase in orders for defense capital goods; and 3) a 2.5% spike in demand for nondurable goods. The jump in orders for nondurable goods accounted for most of the overall increase and primarily occurred at refineries and chemical plants, reflecting higher energy prices. Service sector still not out of the danger zone The Institute for Supply Management (ISM) Non-Manufacturing Index, which measures service sector activity, now stands at 49.5, slightly above expectations but still below 50, which is consistent with a mild contraction. The drop in new orders and new export orders signals weaker activity in the nonmanufacturing sector near term. The news was not all bad for the service sector, however. Supplier deliveries jumped from 50.5 to 53.5 while order backlogs increased to 52 from 49. The economic week ahead All eyes will be on the Labor Department next week when it releases the latest Consumer Price Index data on Thursday. Other items of interest include the latest figures from the Commerce Department on retail sales and business inventories on Wednesday and the latest report from the Federal Reserve on industrial production on Friday. Steven C. Deller Professor and Community Development Economist Department of Agricultural and Applied Economics |
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Source: DWD, Bureau of Workforce information, ES-202, January 2008 |
| Establishment | Product or Service | Size 2008 | |
| Karl Schmidt Unisia Inc. | Carburetor, piston, ring & valve mfg. | 1000+ employees |
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| Marinette Marine Corporation | Ship building & repairing | 500 - 999 employees |
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| Waupaca Foundry Inc. | Iron foundries | 500 - 999 employees |
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| Bay Area Medical Center, Inc. | Gen. medical & surgical hospitals | 500 - 999 employees |
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| Ansul Inc. | All other misc. mfg. | 500 - 999 employees |
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| Marinette Public School | Elementary & secondary schools | 250 - 499 employees |
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| County of Marinette | Executive & legislative officers, combined | 250 - 499 employees |
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| Stora Enso North America Corp. | Paper, except newsprint, mills | 250 - 499 employees |
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| Aerial Co. Inc. | Service estab. euip. merchant whslrs. | 250 - 499 employees |
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| Decrane Aircraft Seating Co. Inc. | Mortor vehicle seating & interior trim mfg. | 100 - 249 employees |
| • Marinette County Snapshot Worknet, WI • Marinette County Snapshop Review the helpful start-up from the State of Wisconsin, The Business Wizard. Using a series of five question-and-answer pages, the Wizard provides customized information to help you start and operate a Wisconsin- based business. UWEX Workforce Profile & Population |
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