A new report from the Wisconsin Economic Development Corporation (WEDC) sets out a comprehensive strategy for investing in people to help Wisconsin recover from the economic impact of the COVID-19 pandemic, WEDC Secretary and CEO Missy Hughes announced today.
The report, Wisconsin Tomorrow: Building an Economy for All, is intended to help guide the state’s use of federal American Rescue Package (ARP) funds as well other public and private sector investments, Hughes said.
“A strategy for investment, for economic recovery and for growth must draw upon the authentic Wisconsin ideal – that everyone deserves an opportunity to prosper. Central to this strategy is a comprehensive approach that promotes economic well-being for every person in our state, which must focus on removing obstacles, valuing all individuals, and understanding their needs and their dreams,” she said.
Wisconsin Tomorrow: Building an Economy for All follows a report by WEDC last June on the impact of the pandemic on key industries and critical next steps to help the economy recover.
“At the time, as the public health and economic crises were still unfolding, we pinpointed three immediate priorities: fixing broadband, getting people back to work and supporting innovation,” Hughes said. “Today, with the deployment of safe and effective vaccines, recovery can truly start to come into focus.”
The new report identifies five elements as keys to every individual’s economic well-being: financial stability; education; health; community infrastructure, including access to affordable housing and child care; and a clean environment. The report encourages state and local leaders to find gaps and opportunities in these areas and then invest accordingly.
Specifically, the report recommends that the state, as well as public and private sector partners:
- Invest in key areas that help remove barriers to participating in the economy, and invest in building a path to financial stability: child care, health care and stable housing.
- Expand access and reinvigorate our culture of education and innovation to fuel ideas, businesses, people and the next generation for future prosperity.
- Respect our environment as it plays a key role in keeping our children safe, our economy healthy and our communities thriving.
The complete report can be found at: wedc.org/wisconsin-tomorrow-report-pdf.