More Financial News

Economists say recovery is ongoing; California company to move to Milwaukee with Badger Meter seed money

Economists say recovery is ongoing

The latest survey by the National Association for Business Economics shows that 31 percent of businesses added workers between April and June, the highest level in three years.

Furthermore, 39 percent of those surveyed say they expect to hire more workers over the next six months – the most since January 2008.

Manufacturers reported the strongest category increase in demand and profitability, while the finance, insurance and real estate sectors saw the slowest growth.

According to the survey, 67 percent of the economists still believe the economy will expand by more than 2 percent in 2010.

"NABE’s July 2010 Industry Survey confirms that the U.S. recovery continued through the second quarter, although at a slower pace than earlier in the year," William Strauss, senior economist and economic advisor in the economic research department of the Federal Reserve Bank of Chicago, said in a statement. "Industry demand increased for a fourth consecutive quarter, although at a slower pace. Price and cost pressures were contained, allowing profits to edge higher. Credit and debt issues in Europe will likely negatively impact just over a third of the surveyed firms over the next three months."

California company to move to Milwaukee with Badger Meter seed money

American Micro Detection Systems Inc. (AMDS), a privately held technology company, plans to establish a manufacturing plant and move its marketing and sales operations to Milwaukee, where it intends to grow and create hundreds of jobs.

The Stockton, Calif.-based company is considering moving to a facility at the Reed Street yards or The Tannery in the Walker’s Point neighborhood.

The expansion was made possible by a $1.5 million investment in AMDS by Milwaukee-based Badger Meter Inc.

The Badger Meter funding is a significant milestone enabling AMDS to finalize its development of the REX Generation 1 product. The REX sensor has the ability to detect concentrations of dissolved metals in liquid flow systems down to the part-per billion (ppb) level in real-time.

Richard  Meeusen, chairman, president and chief executive officer of Badger Meter, said, "Badger Meter chose to make an investment in AMDS because we believe they have the expertise to develop products that will have a positive impact on the environment. Badger Meter’s products help conserve water through accurate metering while AMDS’s products monitor the quality of water."

 

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display