CEOs Discuss Downtown
“Milwaukee’s downtown has long been a centripetal force in the region, attracting people, businesses and activity. By day approximately 78,000 people (more recent data estimates 83,500 people) descend on downtown to work, placing business among downtown’s most important customers. How do companies, many global in their footprint, experience downtown? How does downtown support or hinder their operations? How might downtown change to better suit their needs?” [Excerpt from Milwaukee CEOs Talk About Downtown]
In 2006, in order to answer these and other questions, Milwaukee Downtown, BID #21 implemented a survey and research project focused on downtown business executives to gauge the downtown Milwaukee business environment. The result was two data-based statistical reports containing key findings and recommendations that helped guide policy measures and initiatives to support the long-term success of downtown companies. Some of the key report findings included:
- The downtown business climate is generally positive and improving,
- Average wage for downtown employees is significantly higher than the metropolitan area as a whole,
- Employment, sales, and profitability are all trending positively,
- Downtown needs a strong and growing regional business base,
- Parking is a reoccurring challenge and has its greatest impact on the employees at the lower end of the wage scale,
- Workforce shortages are a looming threat.
The full Milwaukee CEOs Talk About Downtown report can be viewed here.
The full Small Business CEOs Talk About Downtown report can be viewed here.
Research Study Update
In line with the goals and objectives of the recently updated Milwaukee Downtown, BID #21 Five-Year Strategic Plan and considering the many significant changes to the local, regional, and global economy since the first reports were produced, Staff and volunteers are undertaking an update to re-engage downtown business executives to regain important insights about the downtown business climate. The aggregated input and associated analysis will be featured in updated reports. The findings and recommendations of the report will help guide the implementation of initiatives meant to support a positive downtown business climate.