Economic Sector Profile: High-Technology in Madison, Wisconsin
Revised 5/24/04
Forbes Magazine calls Madison a
"hotbed of biocapitalism" and Entrepreneur Magazine ranks Madison as one of the top 5 cities
in which to start a business. Many of these new businesses are in the high-tech
sector of the local economy. The 2004 Greater Madison Area Directory
of High-Tech Companies documents the number and diversity of high-technology
companies in the Madison and Dane County area. Published annually since
1987, the directory provides insight into how these companies are changing
and growing. The directory is co-produced by the City of Madison and Madison
Gas and Electric Company. Information included in the directory such as,
company addresses and CEOs/contact people, product or service description
and local business management, financial and support organizations is checked
and verified each year. Contact one of the people listed at the end of this
article to obtain your copy.
Madison Area High-Technology Overview
More than 450 firms in the Greater Madison Area
(381 listed in the directory)
are defined as high-tech.
* Approximately 26% of these firms are in manufacturing and the balance in
service sector.
* Biotechnology, medical/biomedical research, micro-electronics,
pharmaceutical, contract
research and development, software and other computer-related firms dominate
the listing.
Steady employment increases in these firms are helping to diversify the
area's economy. Because the Madison area high-tech firms provide products
and services for a wide variety of customers, employment increases in this
sector have been steady and have contributed significantly to the area's
healthy economy.
* More than 8% of the area's total jobs are in the high-tech sector.
The Madison area economy is fast growing with high technology playing
an ever increasing role.
* Over the last five years the number of high-tech firms has grown
14%.
Research activity on the University of Wisconsin-Madison campus is a
major stimulus for growth in the area's economy.
* The University of Wisconsin-Madison ranks in the top echelons of American
research universities. UW-Madison annually receives total research funding
exceeding $604 million. According to the latest figures available from
the National Science Foundation, this makes the University of Wisconsin-Madison
the second largest funded research public university in the country.
Various public and private support networks and facilities have helped
many high-tech companies in the area to survive the difficult start-up stage
of development. Business can tap into many of the University's research
facilities, industrial consortia and other programs. Financial assistance
in the form of grants, venture capital and loans is also available in the
Greater Madison area. Business management advice is accessible to any business,
whatever stage of development it is in. These programs and organizations
are listed in the directory.
For more information on Madison's
business climate, Madison High-tech companies or to order the 2004 Greater
Madison Area Directory of High-Tech Companies ($30 per copy includes
shipping and handling) contact:
Peggy Yessa
City of Madison
Office of Business Resources
P O Box 2985
Madison, WI 53701-2985
608-267-8721
E-Mail: pyessa@cityofmadison.com
www.businessmadison.com
Jim Mohrbacher
Madison Gas and Electric
P O Box 1231
Madison, WI 53701-1231
608-252-7116
