Economic Development
Get the latest updates on economic development initiatives across southeastern Wisconsin.
Orion board authorizes stock repurchase plan
Manitowoc-based Orion Energy Systems Inc. announced its board of directors has approved a share repurchase program, authorizing the company to repurchase in the aggregate up to $1 million of its outstanding common stock.
7Summits attracts $1 million in funding for new growth
Milwaukee-based 7Summits has received $1 million in new funding to fuel the agency’s next phase of growth, as its business model and comprehensive social business solutions continue to attract clients nationwide.
Associated Bank No. 1 in Wisconsin SBA loans
Green Bay-based Associated Bank authorized the most Small Business Administration loans in the state in the fiscal year ending Sept. 30, according to a recent SBA report.
Bank Transfer Day to be held Nov. 5
A national social media campaign with more than 32,000 “likes” and almost 70,000 attendees on Facebook aims to get consumers to switch from commercial banks to credit unions.
Zywave to purchase Canadian firm
Wauwatosa-based Zywave Inc. plans to purchase Winnipeg, Manitoba-based Emerging Information Systems Inc., a provider of needs analysis and financial planning software tools.
Joy Global completes sale of drilling products business for $375 million
Milwaukee-based Joy Global Inc. announced that it has the sale of the drilling products business of its Houston-based LeTourneau Technologies Inc. business to Houston-based Cameron International Corp. for $375 million.
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Jarecki joins The PrivateBank
PrivateBancorp Inc. announced that Jeff Jarecki has joined The PrivateBank as managing director of regional commercial banking in the Milwaukee office.
Northwestern Mutual to pay nearly $5 billion in dividends
The Board of Trustees for Milwaukee-based Northwestern Mutual Life Insurance Co. has approved a dividend payout of nearly $5 billion for participating policy owners for 2012, an increase of more than $125 million over its expected 2011 payout. It will be the second-largest payout in the company’s history.
Magnetek receives conditional IRS approval of pension funding waiver
Menomonee Falls-based Magnetek Inc. announced that it has received conditional approval of its request for a waiver of the minimum funding requirements of the company’s defined benefit pension plan for the 2011 plan year.
Modine’s revival picks up speed
Racine-based Modine Manufacturing Inc. reported fiscal second quarter net earnings of $1.4 million, or 3 cents per share, compared to a net loss of $16.7 million, or 36 cents per share, in the same period a year ago.
