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(BPT) - In September 2018, thousands of people from around the world will congregate in an unlikely place: Wausau, Wisconsin.
The diverse crowd will gather for the second International Wisconsin Ginseng Festival. While many may be surprised that such an event would be held in the middle of Wisconsin’s rolling hills and scenic lakes, it is a $50 million local industry with a long history. In the mid-1970s Hmong immigrants, primarily from Vietnam, brought their entrepreneurial skills and revitalized the local ginseng industry. Welcomed by a friendly community that continues to foster an entrepreneurial spirit, Hsu’s Ginseng, now under the leadership of original founder's son Will Hsu, has grown to be the largest integrated ginseng growing and retailing operation in the U.S. Wausau’s industrious self-starters and newcomers grew a multimillion-dollar industry, and the region continues to incubate entrepreneurs across an array of business sectors.
Wausau, ranked recently by ZipRecruiter as a Top 10 Job Market for 2018, has a track record of successful public-private development partnerships and hosts a thriving incubator — the Wausau Entrepreneurial and Education Center — to help local entrepreneurs get started and help established businesses grow. For instance, Wausau-based Resilient Technologies, now a business of Bridgestone Americas, was approached by the U.S. government to develop puncture-resistant tires. In an effort to make military vehicles more safe, they used strong local manufacturing ties to develop a first-of-its-kind non-pneumatic tire in Wausau’s incubator. Bridgestone is now looking for ways to apply the technology to its consumer and commercial portfolio, and develop next-generation tires that offer extended mobility.
“A lot of people don’t know these types of projects are happening here, but the city of Wausau is a great partner and the city provides our team with a wonderful place to call home,” says Louis Stark, operations manager, Resilient Technologies.
The availability of an experienced workforce that can develop these specialized tires for the U.S. military is the same workforce that has made an impact on other areas of Wausau’s economy.
Sometimes entrepreneurial opportunities spring from unusual skills. Some residents in Wausau have deep connections to artistic traditions, including sewing. Bob Jacquart, chief executive officer of Stormy Kromer, makers of hats and rugged outerwear, says he now relies on the sewing skills of Wausau’s residents to create one of the Midwest’s most storied brands.
Stormy Kromer’s operations in Wausau have been successful, outpacing production in the company’s headquarters in Ironwood, Michigan.
“I could not have felt more welcome and city leaders could not have been more accommodating in helping Stormy Kromer find a suitable space as well as skilled workers in Wausau,” says Jacquart.
The local economic conditions and support environment that allowed these Wausau-based companies to thrive are the very conditions that led Time Magazine to label Wausau a “middle-class paradise” last year.
A combination of affordability, welcoming atmosphere and economic diversity is attracting young people, new industries and incubating unlikely entrepreneurs. Aiming to make the most out of these trends, the city is responding in kind. New growth and development have hit record levels across diverse sectors of growing businesses in Wausau. The city's warm attitude toward entrepreneurs and diversity further complement its traditional economic base in metals manufacturing, building materials, insurance, informational technology and health care.
To learn more, visit www.wausome.com.