GREEN BAY, Wis. (WBAY) – Over 400 business leaders, economists, and local officials gathered in Green Bay for the Wisconsin Economic Summit, where the ongoing federal government shutdown emerged as a central concern. Now in its third week, the closure is disrupting financial support systems vital to entrepreneurs and small enterprises. n nThe two-day event, held at the KI Convention Center, brings together key stakeholders including Wisconsin’s Department of Revenue Secretary, Green Bay Mayor Eric Genrich, and the chairman of the Oneida Nation. Discussions focus on economic development, innovation, and strategies to strengthen the state’s long-term competitiveness. n nA major topic of concern is the impact of the shutdown on access to federal funding, grants, and specialized loan programs that help startups launch or existing businesses expand. Sam Rikkers, deputy secretary and chief operating officer of the Wisconsin Economic Development Corporation, highlighted how the closure has reduced staffing at community development financial institutions (CDFIs), which play a crucial role in supporting small businesses in both rural and urban areas. n n”When the federal government defunds or slows down these institutions, it undermines investment in the very enterprises that keep our local economies vibrant,” Rikkers said. He described the current situation as fostering “wrong-headed investment approaches” that hinder growth rather than support it. n nThursday’s agenda includes a panel on the next generation’s role in shaping Wisconsin’s economic future, examining how younger workers’ decisions on where to live, work, and invest will influence the state’s trajectory. n nWith financing delays mounting, many entrepreneurs face uncertainty at a critical time. The summit serves as a platform to explore alternative solutions and strengthen regional collaboration in the absence of federal support. n
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Wisconsin Economic Summit opens in Green Bay amid government shutdown
GREEN BAY, Wis. (WBAY) – The ongoing government shutdown, now into its third week, is one of many concerns for state business leaders and economists gathering in Green Bay for the Wisconsin Economic Summit. n nThe event is a chance to network and learn more about emerging opportunities and challenges some local entrepreneurs might face. n nWhat’s really troubling for a lot of people in the business community is the direct impact the shutdown is having on the financial sector, in being able to secure a grant, funding, or even a special type of loan to keep the doors open or launch something entirely new. n nMore than 400 people will be attending the two-day event at the KI Convention Center, and some of the speakers include the Secretary of Wisconsin’s Department of Revenue, Green Bay Mayor Eric Genrich, and the chairman of the Oneida Nation. n nOn the agenda for Thursday, a panel discussion will focus on the next generation, how they will play a defining role in shaping the state’s economy, and how where they choose to live, work, and invest will determine Wisconsin’s long-term competitiveness and vitality. n nOne of the obstacles, especially with the current government shutdown, is securing financial help in starting a new business. n nIt’s also a question we asked Sam Rikkers, the deputy secretary and chief operating officer of the Wisconsin Economic Development Corporation, about. n nHe says the situation has led to a reduction in the workforce at the community development financial institutions. n n“That’s something that is just a source of investment and growth for our small rural businesses, small urban businesses. So when we see that the shutdown leads to really wrong-headed investment approaches by the federal government, defunding and slowing down the very institutions that are supporting the small businesses that keep our main streets thriving, we have concerns,” says Rikkers.