Economic Development

The nation's official poverty rate in 2010 was 15.1 percent, up from 14.3 percent in 2009 and the highest since 1993, the U.S. Census Bureau reported.

Chicago-based Northern Trust Corp. will unveil early next year the details of cost-cutting plan that is likely to includes significant layoffs, according to a report by Crain’s Chicago Business.

Buoyed by a record performance from its Marcus Theatres division, Milwaukee-based Marcus Corp. reported fiscal first quarter net earnings of $12.5 million, or 42 cents per share, up 24.5 percent from net earnings of $10.0 million, or 34 cents per share, in the same period a year ago.

New York-based Prince Minerals Inc. has acquired IGC Technologies LLC of Milwaukee for an undisclosed amount.

Wisconsin Gov. Scott Walker announced that the U.S. Treasury Department has approved Wisconsin’s application to participate in the State Small Business Credit Initiative (SSBCI), which was created by President Barack Obama’s first rounds of economic stimulus.

U.S. Bancorp announced Monday it plans to restructure its operations at 777 E. Wisconsin Ave and eliminate 35 employees in the process.

Naushad Moolla has always wanted to go into business for himself, but didn’t want to start a company from scratch during the recession.

Rozman Wealth Management, a Brookfield retirement planning firm, will hold several workshops to discuss the current market volatility and suggest investment strategies.

Associated Bank, part of Associated Banc-Corp, plans to open a new branch in the Festival Foods grocery store at 595 South Taylor Drive in Sheboygan.

Associated Banc-Corp announced it intends to redeem the remaining portion of its debts to the Troubled Asset Relief Program (TARP) on Sept. 28.