In addition to the economic development
areas, programs, and local, regional and
state resources, Brown County should focus
on the following strategies to help promote
economic development. Also, while
business attraction is important,
implementing the following strategies will
help foster a business environment that is
more attractive to outside firms and
workers.
Diversity and Inclusiveness
The Chamber’s Economic Development
Strategic Plan calls for ensuring diversity
and inclusiveness, where the community
and region needs to share economic
prosperity across a wider range of groups.
The challenge is how to improve economic
opportunities when some groups of people
have access to fewer educational and
financial resources.
Some of this can be achieved through
more inclusive hiring practices and
workforce-training programs and seeking
more diverse board representation on
company and nonprofit organization
boards.
Business Retention
Retaining existing businesses is essential for
a robust economy. The Chamber has a
business retention and expansion program
to do that. The Strategic Plan cites a US
Small Business Administration estimate that
about 60 percent of new jobs in a
community are created through existing
businesses expanding. Also, if existing
businesses are not thriving, attracting new
businesses will be more difficult.
Understanding the needs, risks, and
vulnerabilities companies face is important
to business retention, and should be a key
part of a business expansion and retention
program. Brown County and other local
governments should continue to
participate in these efforts.
Grow the Region’s Higher Education Assets
Brown County and the region already have
several higher education institutions,
including the University of Wisconsin-Green
Bay (UWGB), Northeast Wisconsin Technical
College (NWTC), St. Norbert College, the
Medical College of Wisconsin, and Bellin
College. These institutions help attract
talent and can also draw research funding
to the area which helps drive innovation. A
critical mass of higher education-driven
research can contribute to an industry
cluster.
College Graduate Retention
Higher educational institutions help attract,
including local, talent to the area for
educational opportunities. However, once
a student completes their education, the
area can benefit from having them remain
in the area. Firms looking for skilled labor will
have a greater pool to draw from when
more graduates remain. Graduates will
also generally have higher earning
potential and keeping that spending power
in the area will help the local economy.
Downtown and Urban Development
Cities of all sizes can contribute to overall
economic health and growth by fostering
areas where people want to live, work, and
play in. This is helpful in both attracting and
retaining companies, as well as employees.
This means that downtowns and
neighborhood centers are places of
activity, exhibit liveliness throughout the day
and into the evening, have public
amenities like parks, plazas, etc., that
attract residents and visitors alike. This type
of energy is what makes a place desirable
to live and work in.
Innovation Districts
While innovation is good, when it’s only
happening at individual companies, the
benefits of the innovation may not be fully
realized. When firms, workers and
institutions have proximity, ideas and
knowledge can be shared more quickly.
They can also serve as an organizing force
in creating neighborhood centers, and
even entire districts. Green Bay already has
two places starting to drive this change.
Titletown Tech
Titletown Tech was formed from a
partnership between Microsoft and the
Green Bay Packers to build and fund early-
stage high-growth businesses. This
partnership is part of the Titletown District,
which has transformed the area west of
Lambeau Field, which includes new
residential units, commercial development,
and recreational space. The organization
focuses on working with and investing in five
specific areas: sports, media and
entertainment; digital health; agriculture,
water and environment; advanced
manufacturing; and supply chain
technology.
Phoenix Innovation Park at UWGB
Already mentioned earlier in this chapter,
the Phoenix Innovation Park on the UWGB
campus is well-positioned to be an
innovation district with its partnerships
between education, business and
government. The Brown County STEM
Innovation Center has established the
beginning of this district and aims to
advance the STEM and business fields in the
region.
VII. Economic Development Strategies
Building BC 4-25