Report: Business improving in Milwaukee, Waukesha counties

Published: December 15, 2010
Tags: First Business Economic Forum, jobs, Milwaukee County, Waukesha County

Milwaukee and Waukesha counties saw moderate business improvements in 2010, but continue to face challenges, according to a third annual report released Wednesday by First Business Bank at the First Business Economic Forum.

The First Business Economic Survey of Milwaukee and Waukesha Counties, sponsored by First Business Bank and Carroll University and conducted by the A.C. Nielsen Center for Marketing Research at the University of Wisconsin-Madison School of Business, showed that 48 percent of businesses did not meet self-imposed expectations for 2010.

While profitability improved — nearly 39 percent of businesses indicated an increase in profitability for 2010 compared to only 21 percent in 2009 — nearly half of businesses reported decreased profitability in 2010.

Job growth continues to move upward as about 71 percent of respondents said they would maintain or increase the number of employees in 2010. Wages also rebounded somewhat, with 37 percent of companies increasing wages in 2010, compared to only 28 percent in 2009.

Expectations show 50 percent of companies expect to increase wages in the coming year.

Manufacturing businesses reported greater improvement than other sectors. The percentage of manufacturers reporting sales revenue increases jumped more than four fold in 2010, from 13 percent in 2009 to 60 percent in 2010.  In addition, more than 52 percent of manufacturing businesses saw increased profitability in 2010, according to the report.