BizTimes Milwaukee | October 23, 2023

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BizTimes Milwaukee (ISSN 1095-936X & USPS # 017813) Volume 29, Number 11, OCTOBER 23 - NOVEMBER 12, 2023. BizTimes Milwaukee is published bi-weekly, except monthly in January, February, March, April, July, August, November and December by BizTimes Media LLC at 126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120, USA. Basic annual subscription rate is $108. Single copy price is $6. Back issues are $9 each. Periodicals postage paid at Milwaukee, WI and additional mailing offices. POSTMASTER: Send all UAA to CFS. NON-POSTAL AND MILITARY FACILITIES: Send address corrections to BizTimes Milwaukee, 126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120. Entire contents copyright 2023 by BizTimes Media LLC. All rights reserved.

Contents » OCT 23 - NOV 12, 2023

4 Leading Edge 4 NOW

BY THE NUMBERS 5 BEHIND THE SCENES – Pettit National Ice Center 6 FRANCHISEE – Derek Pipkorn, Mathnasium 7 COFFEE BREAK – Tina Quealy PUBLIC RECORD – Bank market share 8 MEET THE WISCONSIN 275 – Jason Liu, Zywave 9 REV UP – 7Rivers

10 Biz News 10 THE INTERVIEW – Dale Kooyenga, MMAC

COVER STORY

14

Big vision, big plans for downtown Kenosha

Special Reports

14 Business in Racine and Kenosha County

In addition to the cover story exploring plans for a nine-block, $450 million redevelopment project in downtown Kenosha, coverage includes a look at the new Hotel Verdant’s impact on downtown Racine.

12 Real Estate 24 Notable Women in Insurance 32 Strategies 32 STATEGIC PLANNING – Paul Woerpel 33 MARKETING – Scott Seroka

36 Biz Connections 36 NONPROFIT 38 GLANCE AT YESTERYEAR COMMENTARY 39 MY BEST ADVICE – Tammy Muckerheide, West Bend Mutual

21 Insurance and Benefits

Coverage includes ideas and strategies to keep premium increases down for employee health benefits and a look at how one property and casualty insurer in the region is thinking about heightened climate-related risks as it expands into other states.

biztimes.com / 3

Leading Edge

BIZTIMES DAILY – The day’s most significant news → biztimes.com/subscribe

NOW

Strauss Brands’ production facility in Franklin.

Meat processing company expansion plans.

Strauss Brands to lay off Strauss Brands will lay off 127 The company bought the workers at its Franklin production Loomis Road site for $2.1 million in 127 workers in Franklin facility, located at 9775 S. 60th St. 2019, but then instead announced Franklin Industrial Park, as plans to build its facility in Milwauas production line eliminated inthetheWaukesha-based company dis- kee in the Century City Business

By Ashley Smart and Andrew Weiland, staff writers

BY THE NUMBERS FPC Live’s updated Deer District development plans call for one concert venue with a spectator capacity of

4,500 4 / BizTimes Milwaukee OCTOBER 23, 2023

continues veal and lamb production at that location.

A WARN notice filed with the state’s Department of Workforce Development states layoffs are expected to begin on or around Dec. 10.

Strauss Brands will continue producing grass-fed beef at the Franklin facility.

“We are working diligently to mitigate these circumstances.

However, we currently do not know if it will be possible to rehire any of the individuals impacted by this reduction,” the notice says.

Representatives from Strauss Brands were not immediately available for comment.

Several employees at the Franklin facility are represented by the United Food and Commercial Workers Union, Local 1473.

Strauss Brands had planned to build a new 152,000-squarefoot meat processing facility at a 30-acre site along Loomis Road in Franklin, but dropped those plans in 2022. That followed years of drama surrounding the company’s

Park on the city’s northwest side.

Those plans ran into opposition from residents that said they didn’t want to live near a “slaughterhouse” and lost the support of the alderman representing the site. Strauss dropped its plans in Milwaukee in October of 2019.

In 2020 the company shifted its focus back to the Loomis Road site in Franklin with plans for a new 152,000-square-foot facility with 270 employees able to process 250 to 500 head of cattle per day.

The Franklin Common Council rejected the project in October of 2020, but revered course two weeks later and approved it after business leaders expressed concern about the decision. The switch led to a group of Franklin residents filing a lawsuit.

In February of 2022 the company dropped its plans for a new Franklin facility. The company sold the site to Verizon Wireless in December for $2.78 million.

Verizon Wireless hasn’t indicated its plans for the site, which remains vacant. n

1

BEHIND THE SCENES Pettit National Ice Center

By Cara Spoto, staff writer

T

he weather can change any number of times on a fall afternoon in Milwaukee, but inside the Pettit National Ice Center, 500 S. 84th St., the temperature is almost always a dry and cool 55 degrees.

To keep the mercury steady in both the air and, more importantly, on the surface of its 400-meter Olympic oval, the facility employs a complex system of pumps and pipes that keep the glass-like surface of the ice hovering between 5 and 15 degrees Fahrenheit.

The Pettit is one of only two Olympic-sized indoor speed skating ovals in the U.S. When it opened in 1993, it was the first built in the country. The Pettit has hosted the past two U.S. Speedskating Olympic team trials, in 2022 and 2018.

The center opened for public skating earlier this month and expects to see about 2,000 people on the ice every day this winter.

“We participate in every ice sport that exists, outside of sled hockey,” says general manager Paul Golomski. “We host curling, figure skating, synchronized skating and shorttrack speed skating.” n

2

4

3

5

the busy 1 During season, ice tech-

the far wall 2 On of the Pettit sits

the refrig3 Inside eration room,

The Pettit’s rink is 4 cooled by 30,000

whole heat 5 The transfer system is

nician Patrick Rakowski will resurface the ice four times a day. The Zamboni cuts and washes the existing ice, adding a new layer of the frozen stuff with each pass.

one of the largest ice rink refrigeration plants in the country with 20 circulating pumps and eight different compressors, made in Cudahy.

glycol and ammonia used to cool the ice are circulated in a maze of hulking pipes.

gallons of glycol circulating in hundreds of small pipes that lay just below the ice. The ice is warmer than glycol, so its heat is transferred into the glycol to keep it from melting.

powered by a wall of Allen-Bradley-made motors that run on giant fuses the size of your hand.

biztimes.com / 5

Leading Edge

@BIZTIMESMEDIA – Real-time news

the

FRAN C H I S E E Derek Pipkorn

DEREK PIPKORN MATHNASIUM THE FRANCHISE: Los Angeles-based Mathnasium is a math-only learning center with more than 1,100 locations worldwide.

The company offers supplemental education services, including tutoring and enrichment, for students in kindergarten through 12th grade.

“I had heard about Mathnasium at least six years before I signed. I was a new teacher and couldn’t afford to do something like this at the time. I looked into it every couple of years – I had it in the back of my mind – and then decided to pull the trigger of it being the perfect blend of my passions for math education and entrepreneurship.”

2015: Having earned his master’s degree in educational leadership and administration from Cardinal Stritch University, Derek Pipkorn found himself at a crossroads. He had taught middle school math for eight years and was trying to decide between either becoming a school principal or pursuing a doctorate degree.

Instead, he opted to tap into his affinity for entrepreneurship and become a Mathnasium franchise owner.

Derek Pipkorn pictured here with his wife, Jillian, who left her job at Kohl’s Corp. in 2021 to take on the full-time role as director of marketing and community outreach for their franchise operation.

2017: Pipkorn signed a multi-unit franchise agreement with Mathnasium and a few months later launched his first location in Wauwatosa.

“The majority of families are with us yearround. On average, each of our centers have about 100 students, but in summer, that can peak at about 175.”

OCTOBER 2020: As demand for Mathnasium’s services soared amid school closures and remote learning due to the COVID-19 pandemic, Pipkorn expanded his business footprint to three units with the acquisition of the brand’s existing Brookfield center, following the opening of Mathnasium of Mequon in August 2019.

MAY 2023: The Pipkorns opened Mathnasium of Oconomowoc the same day they took over ownership of an existing franchise location in Franklin. Add those to Mathnasium of Hartland, which opened in June 2021, for a total store count of six. Next, the plan is to expand into Waukesha and Grafton.

THE FRANCHISE FEE: $49,000 for first franchise, $26,500 for an additional franchise

6 / BizTimes Milwaukee OCTOBER 23, 2023

The Oconomowoc store is located at the new Olympia Fields development, which also houses Sendik’s Food Market, Planet Fitness and Pet Supplies Plus stores.

COFFEE BREAK

PUBLIC RECORD

Tina Quealy Chief executive officer Betty Brinn Children’s Museum

929 E. Wisconsin Ave., Milwaukee bbcmkids.org Industry: Education and entertainment Employees: 19 full-time, 19 part-time •

Quealy was executive director of the Milwaukee-based Burke Foundation for six years before being named Betty Brinn Children’s Museum’s newest chief executive officer in September.

•

She was attracted to the role because of her passion for early childhood education and providing inclusive spaces for young people to play in. “Through my previous work in investing and supporting various educational and experiential learning initiatives, I have learned how important a resource like the Betty Brinn Children’s Museum is for the city of Milwaukee.”

•

•

•

As Betty Brinn is on track to achieve record revenue and welcome 180,000 visitors this year, Quealy says a top priority will be finding a new building for the museum that is inclusive and accessible and attracts diverse community members to gather and learn alongside one another.

When it comes to finding Betty Brinn’s new home, Quealy said the search criteria includes “a site that’s downtown adjacent, where diverse groups feel comfortable visiting.”

In her spare time, Quealy’s 8-year-old daughter keeps her busy exploring Milwaukee. They enjoy catching theater performances at First Stage, exploring the outdoors at the Urban Ecology Center and climbing at Adventure Rock.

•

Quealy believes her experience working with nonprofit organizations will be instrumental in helping her lead Betty Brinn Children’s Museum into the future. “The museum is a valuable community asset, and I look forward to partnering with various stakeholders in this next phase.”

•

She loves coffee in all its forms.

“I’ve never been steered wrong by the creative barista team at Pilcrow Coffee (in Milwaukee).” n

Which banks gained deposit market share in 2023?

By Arthur Thomas, staff writer The FDIC Summary of Deposits Annual Survey, generally released in September, provides a branch-level look at which banks across Wisconsin and the country are gaining or losing market share as of June 30 each year.

This year’s survey shows 197 banks in the Wisconsin market with 1,703 offices, down from 205 banks with 1,740 offices in 2022. The industry has been consolidating, a decade ago there were 285 banks doing business in the state.

Statewide, deposits at Wisconsin branches totaled $195.7 billion, down 5% from the same point in 2022. Around 46% of those deposits were at offices in southeastern Wisconsin, defined as the Milwaukee 7 region plus Sheboygan County. Southeastern Wisconsin’s deposits were down about 12.5%.

Here’s a closer look at the top 25 banks in southeastern Wisconsin based on market share in those eight counties: Bank (Offices in Market)

Deposits (millions of dollars)

Change in Market Deposits

Market Share

Change in Market Share

Change in Rank

U.S. Bank (54)

29,127

-23.0%

32.03%

-4.37%

-

BMO Harris Bank (79)

12,279

-6.8%

13.50%

0.81%

-

JPMorgan Chase Bank (34)

10,047

-16.2%

11.05%

-0.49%

-

Associated Bank (51)

8,071

4.6%

8.88%

1.45%

-

Johnson Bank (18)

3,377

-0.9%

3.71%

0.43%

-

Town Bank (20)

2,895

1.6%

3.18%

0.44%

-

Wells Fargo Bank (16)

2,348

-9.1%

2.58%

0.09%

-

PNC Bank (26)

1,788

-11.7%

1.97%

0.02%

-

Tri City National Bank (28)

1,674

-10.8%

1.84%

0.03%

-

North Shore Bank (33)

1,669

-3.3%

1.84%

0.18%

1

Bank Five Nine (15)

1,426

10.8%

1.57%

0.33%

2

Old National Bank (7)

1,301

-0.2%

1.43%

0.17%

-1

Waterstone Bank (16)

1,254

-3.1%

1.38%

0.13%

-1

Waukesha State Bank (15)

1,156

-3.8%

1.27%

0.11%

-

The Huntington National Bank (17)

912

-11.2%

1.00%

0.01%

-

Citizens Bank (12)

868

-2.8%

0.95%

0.09%

-

The Port Washington State Bank (8)

812

-3.8%

0.89%

0.08%

1

Westbury Bank (9)

761

-12.3%

0.84%

0.01%

-1

Bank First (3)

746

-2.4%

0.82%

0.08%

-

Community State Bank (7)

584

-3.9%

0.64%

0.05%

2

First Citizens Bank & Trust Company (7)

541

-12.1%

0.59%

0.00%

1

HTLF Bank* (5)

527

19.7%

0.58%

0.16%

4

Great Midwest Bank (6)

522

7.0%

0.57%

0.10%

1

First American Bank (3)

490

36.5%

0.54%

0.19%

5

National Exchange Bank and Trust (8)

459

-3.6%

0.50%

0.04%

-

*HTLF previously reported as Wisconsin Bank & Trust biztimes.com / 7

Leading Edge

JASON LIU CEO Zywave WAUWATOSA

This Q&A is an extended profile from Wisconsin 275, a special publication from BizTimes Media highlighting the most influential business leaders in the state. Visit:

biztimes.com/wisconsin275 for more.

Under Jason Liu’s leadership, Wauwatosa-based insurtech company Zywave has made seven acquisitions and doubled its size since 2020. More than 15,000 carriers, agencies and brokerages – including all of the top 100 U.S. insurance brokerages – use Zywave’s platform, according to the company. The fast-growing firm has about 1,200 employees globally, including 325 in the Milwaukee area. Previously, Liu was chief executive officer of SAVO, UC4 Software and Univa UD.

“I believe the secret to success in life and in business is grit, which is resilience and tenacity coupled with a growth mindset.”

8 / BizTimes Milwaukee OCTOBER 23, 2023

What was your first job, and what did you learn from it?

“My first real job was as a business analyst at Deloitte & Touche Consulting Group. The expectation was you were part of a two-year program and then went to a top-five MBA school. It was a great job to have out of school. I learned how to present and interact with executives in large companies and learned how to problem solve and understand how businesses truly operate. I was also able to travel and live in many places in the United States.”

What piece of advice has had the most significant impact on your career?

“I believe the secret to success in life and in business is grit, which is resilience and tenacity coupled with a growth mindset. Never be complacent – it’s important to be open to new ideas, try to get better and find creative ways to overcome barriers through constant learning.”

If you could have dinner with any two business leaders, who would you choose and why?

“The first is Elon Musk. I find his visionary mindset and limitless optimism to be extraordinary. He may be a bit controversial, but geniuses are often misunderstood and controversial. The other person is Warren Buffett. I have always respected his values and long-term approach, and I have respected him for decades. He’s probably the wisest person in business.”

What are some of your favorite destinations or places to visit?

“South Africa and New Zealand were great places to visit, but the best of the best was Running of the Bulls in Pamplona, Spain.”

What is one book you think everyone should read and why?

“One book to read is ‘Lifespan: Why We Age—And Why We Don’t Have To’ by David A. Sinclair, Ph.D. He is a professor of genetics at Harvard Medical School and foremost expert on how to extend the span and quality of your life. You only live once, why not spend a few hours reading a book from the top medical professional on aging on what you can do to improve your quality of life and to live longer? I promise this will be the best use of your time.”

What’s your hobby or passion?

“Personal growth and learning how I can be better every day in mind, body and spirit. I run three to four miles every day and work out with weights three times a week. I also stretch and meditate and constantly read on how to be a better person. I’m an avid reader and podcast listener and really enjoy learning from others’ experiences and wisdom.”

What is your favorite Wisconsin restaurant and what do you order there?

“Harbor House. It is a true classic with the best view in Milwaukee. I alternate between ordering the steak and fish dishes.” n

7RIVERS

REV UP

LEADERSHIP: Paul Stillmank, founder and CEO H E A D Q U A R T E R S: Milwaukee W H AT I T D O E S: Provides consulting services focused on AI and data modernization F O U N D E D: 2023 E M P L OY E E S: 8 N E X T G O A L S: Reach between $7 million - $8 million in revenue next year, grow to 30-plus employees FUNDING: $3.5 million seed round

Paul Stillmank

Milwaukee-based startup 7Rivers helps organizations harness the power of AI

By Ashley Smart, staff writer WHEN LOCAL TECH entrepreneur Paul Stillmank’s company 7Summits was sold to IBM in 2021, he stayed on with the company for about a year. After stepping down from his role last May, he thought he’d have no shortage of activities to fill his time.

“I’m a bit of a romanticist,” Stillmank said.

“I oil paint. I draw. I’ve got kind of a left-brainright-brain thing going on. There’s a lot of musical instruments filling my room right now. I can fill my time.”

So, what prompted him to start a whole new company entirely focused on artificial intelligence? It was partly due to a book called “Younger Next Year” by Chris Crowley and the

late Dr. Henry S. Lodge. After reading the book, which offers readers advice on maintaining good health and youthfulness, Stillmank was reminded of the importance of brain chemistry.

“Sitting around doing my fly fishing certainly was a great respite, but it’s not making me think really hard,” he said.

At one point, Stillmank considered opening a series of bakeries that would employ people with disabilities, but he decided to stick with the industry he knows best. The timing of the 7Summits sale along with the mounting AI buzz that arrived at the start of 2022 further solidified his choice to found 7Rivers.

“I always knew that data and AI played well together,” said Stillmank. “I knew there was an idea there to help companies.”

7Rivers helps business leaders identify the potential for value in their data and transform it into AI-based solutions. The goal of the startup is to help businesses understand the latest advancements in AI and machine learning by using their own data. 7Rivers is partnering with Snowflake, a Montana-based data cloud company.

7Rivers will be able to tap into Snowflake’s

data cloud and use it to build custom solutions for clients. For example, using AI to analyze production data, a manufacturing company can optimize supply chain efficiency, predict equipment maintenance needs and tailor production runs, ultimately reducing costs and maximizing output.

“There’s hundreds of millions of dollars going into startup companies creating AI-driven products right now,” said Stillmank. “Who’s going to advise organizations on what to do for their business?”

7Rivers will initially target businesses in the financial services and insurance industries, along with manufacturers.

Stillmank said 7Rivers will generate value by creating smart applications for clients and letting them build their own large language models using their own data. All that data will remain private for each client.

“A lot of people ask us, ‘Should we just wait to look at AI?’ And our advice is AI is moving so fast, you can’t afford to wait,” he said.

7Rivers has already raised $3.5 million in seed funding and Stillmank expects the company to reach profitability within 18 months. n biztimes.com / 9

BizNews THE INTERVIEW

the

Interview

DALE KOOYENGA is expected to take over as president of the Metropolitan

Milwaukee Association of Commerce in January 2024. He will succeed Tim Sheehy, who has led the organization since 1993. The former state legislator joined MMAC early this year as its first-ever senior vice president. Kooyenga started his career as a certified public accountant at KPMG before serving as CFO of Stonehouse Water Technologies and then of Mpirik, both based in Milwaukee. He’s also a lieutenant colonel with the U.S. Army Reserve. As he prepares to take the lead at MMAC, Kooyenga sat down with BizTimes associate editor Maredithe Meyer to discuss his priorities. The following portions of their conversation have been edited for length and clarity. See the full Q&A at biztimes.com/ dale-kooyenga.

BizTimes: How have these past 10 months been since joining MMAC, and what has the succession planning process entailed?

Kooyenga: “There’s been several prongs to the strategy to learn more about MMAC and the over 2,000 companies that we serve. In no particular order, we have 85 board members and I’ve sat down with about two thirds of them at this point for conversations on what does the Milwaukee region’s balance sheet look like? What are our assets? What are our liabilities? We also have CEO and CFO roundtables, and I have met with them for a similar conversation as far as what the regional balance sheet looks like. What is MMAC 10 / BizTimes Milwaukee OCTOBER 23, 2023

Dale Kooyenga Senior vice president (incoming president) Metropolitan Milwaukee Association of Commerce 301 W. Wisconsin Ave., Suite 220, Milwaukee mmac.org

doing that you are a fan of? And what can we do to better serve the business community?

“I’ve visited other cities – I’ve been to Dallas, I’m going to Kansas City, I just got back from Madison – just learning from other chambers as far as what their structure is. There’s no chamber structured exactly like another, but I’ve heard consistently that the way we have it structured here in Milwaukee is the absolute ideal, that (MMAC) is built with a great structure as far as economic development, the more traditional chamber role and what we do with the Region of Choice efforts.

“Tim has just been a great mentor. I mean, Tim has been in this position for 30-plus years. He’s been at the chamber for 40 years. Tim and I will sit down on a bi-weekly basis and just kind of go through the business of business in Milwaukee, who’s who in the zoo and what are the issues and some of the history of the issues, and we’ve been

developing that great relationship and having those conversations.

We’ll continue to have that through 2024, but even beyond ‘24, I know for the rest of my career he’s someone I could call and bounce ideas off of.”

From those conversations with Tim, board members and roundtable groups, what have you gathered as the most important issues or initiatives you plan to prioritize as chamber president?

“MMAC has been a national leader in education reform. If you look back in the early 1990s, it was really the chamber alongside Howard Fuller and then some courageous elected officials who said we need to try a new way of doing education. Milwaukee was the first city to do school choice and that’s because we had the first chamber that wanted school choice and the first former public school superintendent who was open to new ideas, and that was Howard Fuller. There has been tremendous progress and accomplishments that MMAC’s done in education, but we still have a long way to go.

The reality is that even looking across the different sectors – public, public charter, and private schools – the numbers still reflect that we have a long, long way to go on education.

“From a talent perspective, one of the region’s biggest challenges – and this is an international issue but it’s going to play out here as well – is demographics. When you have a working-age population that is not even going to grow by a percentage point over the next couple of years, what are you going to do to grow an economy? An economy only grows one of two ways. It’s either through productivity gains – and that can come in a variety of forms – or it comes from population growth. Population growth can also mean getting more out of the existing population. And it’s not from a pure, ‘Oh, we need more labor’ standpoint, it’s also from a wholeness-of-life standpoint.

I truly believe that meaningful work is a core aspect of leading a meaningful life.

“We owe it to kids in our region that are being failed by school systems and being failed by their families to create other structures and support systems around them in order to have more individuals who are able to have careers and meaningful work, and meaningful work also goes with a proper system of education and leads to meaningful relationships.”

What are your expectations for the continuation or evolution of MMAC’s Region of Choice initiative?

“That’s a great question, because the Region of Choice pledge will run its course at the end of this year. … We’ve arrived at no destination. I mean, there’s no doubt that Milwaukee has a long way to go to make sure that everyone in our community feels a sense of ownership and that every decision maker and leader in our community has a larger binder to look at talent, as opposed to their traditional networks of who they and their families have associated with over the years. That’s really what it’s about, saying there are a lot of stovepipes in our community, which are great – it’s great to have communities of different individuals and ethnicities and cultures that have family together and have their own business together and form a community within a community – but there’s also an opportunity to look at the leaders across those communities and say, ‘Hey, if you’re looking for top HR talent, here are a lot more different options.

If you’re looking for the top talent for CFOs or CEOs, here’s a lot more different options.’ So that’s really what we’re about – with our events, with our introductions, our publications – is giving everyone in Milwaukee a larger view of Milwaukee. And I think that’s very along the lines of Region of Choice. The question is, where do we go from here? And ultimately, we’ll be driven by our members.”

MMAC represents businesses across a politically divided region in an even more politically divided state. As a former GOP lawmaker yourself, how are you approaching that dynamic as you take the reins of a non-partisan organization?

“Your assessment of the situation is absolutely correct in that we represent southeast Wisconsin, and southeast Wisconsin includes the most conservative of the conservatives in western Waukesha County and the more liberal elements from Milwaukee. We’re a nonpartisan-bipartisan organization, and what we’re going to do is identify the adults in the room, and we’re going to put adults in the room, and we’re going to solve problems. And you just saw this play out (in the recent approvals for increased Milwaukee sales taxes and more shared revenue from the state for local governments). Nearly everyone thought, by this time, the City of Milwaukee would be talking about what libraries they were going to close, talking about how many police they were going to lay off, fire stations they were going to close. They thought Milwaukee County would be talking about what parks not to maintain anymore.

“And where we’re at today is, there’s not a single library being closed. The parks are going to be in great shape. We have two infamous pension plans that are on a track to be closed over time. The police and fire are adding to their force. How did we do that? The mayor, the county exec, leaders in the Legislature, the governor, the MMAC and our partners like the Greater Milwaukee Committee, we put folks in a room and said, ‘You have problems, we have problems, let’s acknowledge that these problems were created in generations before us and the people that created those problems are nowhere in the room. How do we just get in a room and talk through how there’s a win-win in this for everybody?’ And we did that. And it was historic, and it made a huge impact.

“We’re not going to be taking up partisan positions. We’re not an extension of the Republican Party, we’re not an extension of the Democratic Party. We are the business community, and the politics of the business community is doing what’s best for the business community. … That’s why we’re going to put Republicans and Democrats in the room, and we’re going to solve issues with them just like we’ve been doing for almost centuries. Tim is really good at that and I think, from a personal perspective, one of the reasons I was hired was people saw that I do that, I’m good at that. I don’t like playing those partisan games. I like to solve problems, and problem solving is going to have to include both parties.”

What other leadership philosophies do you bring to MMAC’s top seat?

“Not to sound cliche, but it’s amazing what you get done when you don’t need to take the credit for it. That’s a lesson I learned in the military, politics and the business world. And the heart of that is when you’re talking about wins, the wins are typically a large team of people, and so really forming those teams across our community to get those wins.

“I really like developing teams. Right now, I have command of 200 soldiers in the U.S. Army Reserve. I’ve led soldiers in combat, I’ve led politically on a lot of different issues, I’ve led in the business world.

We have an amazing team at MMAC. Oftentimes, the leader of an organization gets a lot of attention, but really, it’s the team at MMAC that are just flawlessly executing our events, they do a really good job on our comms and our magazine, the M7 team is just crushing it with historically large investments in the region. The success of the organization is the success of our team. And team is defined both internally but also our team is defined by our board members and our members. And that’s why Milwaukee consistently punches outside of its weight class, we’re a very team-oriented community.” n biztimes.com / 11

Real Estate

REAL ESTATE WEEKLY – The week’s most significant real estate news → biztimes.com/subscribe

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WHO OWNS THE BLOCK? MONUMENT SQUARE IN DOWNTOWN RACINE

1 555 Main St. Property owner: Johnson Bank 2000-1 Trust Tenants: Johnson Financial Group, Johnson Outdoors, Johnson Outdoors retail store

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2 520 Main St. Property owner: Atln Properties LLC Tenant: The Maple Table

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500 Wisconsin Ave. 436 Main St. Property owner: Root City Capital LLC Property owner: Haymarket Square LLC Tenants: Twin Dragon Games, ActiveBody Fitness Tenants: N/A 12 / BizTimes Milwaukee OCTOBER 23, 2023

3 516 Main St. Property owner: Frankenmuhpit LLC Tenant: Lakeview Pharmacy

7 422 Main St. Property owner: American Dream Leasing LLC Tenant: Divine Melanin Beauty Supply

4 500 Main St. Property owner: The Main Attraction Tenant: Hotel Verdant

8 338 Main St. Property owner: Gary Groenke Tenant: Design Partners Inc.

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Complete with Egyptian motifs on its walls, a light-up sign that cycles through the latest headlines, and a three-sided clock, the Clock Tower Building is one of the most iconic buildings on Milwaukee’s East Side.

Located at the corner of North and Prospect Avenues, the 1928 building was once used as a warehouse by the Coakley Brothers Co. Today, the six-story building is used for offices, with retail on the ground floor.

The building is owned by Carole Wehner, a real estate agent with Milwaukee Executive Realty.

NORTHWESTERN MUTUAL

WHO REALLY OWNS IT: CLOCK TOWER BUILDING

NORTHWESTERN MUTUAL NORTH OFFICE BUILDING TRANSFORMATION Complete with a drumline performance and pyrotechnics, Northwestern Mutual kicked off construction of its “skyline-defining” transformation of its North Office Building in downtown Milwaukee, at a groundbreaking ceremony earlier this month.

In addition to the $500 million renovation project, the company will move 2,000 employees to the 540,000-square-foot building at 818 E. Mason St. from its Franklin campus over the next three to five years.

Exterior renovations planned for the building will mirror the adjacent 32-story, 1.1 million-square-foot Northwestern Mutual Tower and Commons building that opened in 2017.

Announced in February, the project could be completed by 2027.

COST: $500 million STORIES: 18 CONTRACTORS: Gilbane Building Co. and CG Schmidt

Advertise in these upcoming special reports to get your message in front of area business executives.

Banking & Finance November 13, 2023

Space Reservation: October 25, 2023

Real Estate & Development

November 13, 2023

Space Reservation: October 25, 2023

Register today! MMAC.org/Events.html

Contact Linda Crawford today!

Phone: 414.336.7112 Email: advertise@biztimes.com biztimes.com / 13

STORY COVER

Renderings of Cobalt Partners and C.D. Smith’s $450 million development project planned in downtown Kenosha.

14 / BizTimes Milwaukee OCTOBER 23, 2023

COBALT PARTNERS

BIG VISION, BIG PLANS FOR DOWNTOWN KENOSHA

BY HUNTER TURPIN, staff writer

It’s a story not unlike many cities in the upper Midwest.

A series of manufacturing plant closures left Kenosha’s downtown mostly empty for many years.

From the mid-1980s to the mid-1990s, the once-bustling manufacturing town saw companies like American Motor Corp., Anaconda American Brass and MacWhyte Co. shut down or reduce their operations in the city, eliminating thousands of jobs.

They left behind abandoned manufacturing plants that were turning to rubble, vacant storefronts in the historic downtown and a lakefront that was blocked off with a chain-link fence.

“Kenosha went through some very difficult times when our manufacturers pulled out,” said John Antaramian, who was elected mayor in 1992.

“All of those major corporations left huge issues for the commuJohn Antaramian nity. Kenosha had to reinvent itself.”

In the early 1990s, the city embarked on a multi-decade mission to diversify its economy and bring vibrancy back to the city’s downtown.

In 2000, a city-led initiative resulted in the development of 350 condos along with museums and green space on the site of the shuttered American Motors Corp. plant. The effort rehabbed and brought new tenants to the historic downtown storefronts over the next 20 years. More recently, developers have built several apartment buildings on the south end of the downtown area.

Kenosha’s proximity to Chicago and Milwaukee along the I-94 North-South corridor has spurred a boom of retail and industrial development along the interstate over the past two decades. Meanbiztimes.com / 15

STORY COVER are working to create dense, vibrant neighborhoods to attract residents and visitors to their downtowns.

Kenosha is banking on using its industrial economic base to propel the city’s downtown into its next chapter.

Tim Casey “We can get all the growth out by the highway, but people can choose where to live, where to spend their time,” Casey said.

Slow but steady growth downtown The Harbor Park condominium development at the former American Motors Corp. site.

while, progress in the city’s downtown has lagged behind the booming development pace near the freeway.

But that could be about to change, thanks to a massive $450 million development project planned for a mostly vacant nine-block area of downtown Kenosha.

Milwaukee-based real estate developer Cobalt Partners and Fond du Lac-based C.D. Smith Construction Inc. are moving ahead on the project, which could eventually transform roughly 14 acres of the city’s Harbor Park district with more than 1,000 new housing units, 100,000 square feet of retail space, 420,000 square feet of office space, a hotel and green space.

The developers working on the project see a city with rapid economic growth and a downtown that isn’t quite showing it yet.

“It’s the fourth largest city in the state and yet really has a downtown that is a bit of a blank canvas,” said Scott Yauck, president of Cobalt Partners.

City officials see the project as an opportunity to complete a downScott Yauck town revitalization effort that’s been decades in the making and can support economic growth for years to come.

“Cities only go in two directions: forward or backward,” Antaramian said. “This project will keep moving us forward.”

Kenosha booms along the interstate Situated on the shores of Lake Michigan, 40 miles south Milwaukee and 50 miles north of Chicago, Kenosha is geographically well placed with access to freshwater resources and two major economic and population centers.

16 / BizTimes Milwaukee OCTOBER 23, 2023

This, in part, brought manufacturers to the city more than a century ago.

Now, the same assets have attracted many manufacturers and industrial users back to the region, creating an economic boom not in downtown Kenosha, but in the parts of the city and county that surround I-94.

Companies such as Pleasant Prairie-based Uline and Seattle-based Amazon have built several million square feet of warehouse space in Kenosha County. This year, Germany-based Haribo opened a 500,000-square-foot manufacturing facility in Pleasant Prairie.

“We have a lot of food processors and manufacturers, like Haribo, who need a lot of water for those functions, but also quick access to the freeways,” said Nicole Ryf, executive director of the Kenosha Area Business Nicole Ryf Alliance. “Kenosha’s geography is great for business.”

Between 2010 and 2020, Kenosha County saw a 24% increase in jobs. However, there was only a 2% increase in population and 4% increase in housing units in the same timeframe, according to data from the Wisconsin Policy Forum.

“We’ve got thousands of people who live in Kenosha and go down to Lake County (Illinois) for work. We’ve also got thousands of people who live in Lake County or elsewhere in northern Illinois and come to Kenosha for work,” said Tim Casey, Kenosha’s director of city development. “But it’d be really nice if we could get some of those people who don’t live here to move up here.”

In an era when many industrial operations are far too large to be built in downtown areas and require quick access to freeways, many cities

Redevelopment of Kenosha’s downtown really began in the early 2000s when the city took over and demolished the former American Motors Corp. plant at the north end of downtown.

In its place now is the 70-acre Harbor Park district, which includes 350 upscale condos as well as the Civil War Museum, the Kenosha Public Museum, retail space and a public park.

“Before that, the downtown did not have a lot of activity,” Antaramian said. “… Harbor Park really triggered a lot of investment for the area.”

The downtown’s core is filled with mostly historic buildings, many of which have been rehabbed to house new small businesses, many of which have opened within the past 20 years.

“Having people downtown 24/7 really helped the businesses to succeed,” Ryf said. “For the most part, downtown really has turned into more of a hub for retail and restaurants, but there’s also a lot of housing going up.”

Milwaukee-based development firm Three Leaf Partners is working with Illinois-based Woodview Group LLC on an $11.8 million, 61-unit apartment building, called Theater Terrace, located at the south end of downtown. The building is currently under construction and is expected to be completed in spring of 2024.

Woodview Group also built the $17 million, 68unit Lake Terrace apartment building at a site one block east. The building, which is currently 100% occupied, was leased in 75 days, according to Joe Stanton, vice president of development for Three Leaf Partners.

“Normally, for an apartment building like this, you would figure that it would absorb six, seven or eight units per month,” Stanton said. “This is a 68unit building, so you’re looking at 20-plus units per month that are getting leased up. That’s a pretty astounding clip. You don’t typically see that.”

While Three Leaf wasn’t involved in the Lake Terrace project, Stanton noted Kenosha’s economic development and strong need for housing brought the firm to Kenosha for Woodview Group’s second building.

Woodview Group is also planning to develop

JON ELLIOTT OF MKE DRONES LLC

Cobalt Partners’ development site in downtown Kenosha.

one more apartment building, called Simmons Terrace, on the south end of downtown. That project, valued at $22 million, would house 101 apartments in a five-story building.

Those three buildings are near another two apartment buildings that Kenosha-based developer Bear Development opened in 2017, which together have 104 housing units.

“There’s certainly a lot of activity,” said S.R. Mills, chief executive officer of Bear Development.

“Having additional housing options for people will continue to help retail and restaurants and add other vibrancy to keep the city active. I think there’s certainly ample room for growth, and I think good public-private partnerships with the city will help move it forward.”

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The vision All of these developments, plus a few others, have brought a sense of vibrancy back to the downtown area, city and business leaders say.

“The intention back in 2000 was to bring back the downtown, which we have done to a point, but it still needs more density to finish off what we started,” Antaramian said.

Downtown Kenosha has very few structures that are more than a few stories tall, including a seven-story 1928 building and a 10-story lakefront apartment building. Almost all of the city’s other buildings are five stories or less.

“One of the impressions I had coming to Kenosha over the years was the downtown was smaller than you’d expect for a city of this size,” Casey said.

“You look at the building scale of downtown Kenosha, and you compare it to Racine and Green Bay, why isn’t there more of a downtown feel, a density in Kenosha?”

Between the downtown’s core, Harbor Park to the north and the apartment development to the south, most vacant lots in downtown Kenosha have now been redeveloped.

Harbor Park

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A map outlining Cobalt Partners and C.D. Smith’s development plans.

Kenosha Downtown Development Site Plan

That is, except for a nine-block section in the middle. Much of that land is empty or used as parking lots.

“Is that what you want for your downtown?”

Casey said, pointing to an aerial photo of the area in the Department of City Development office. “We want to knit our downtown back together.”

Cobalt Partners + CD Smith - April 20, 2023

The plan In 2019, Cobalt Partners and C.D. Smith each responded to a request for proposals with separate plans for the nine-block downtown development site. The city chose a different proposal, which ultimately did not come to fruition due to financing challenges.

That’s when the two firms, both with experience doing large-scale, multi-year projects, joined forces and approached the city again with a revised plan.

“It’s an incredible opportunity to activate the

downtown,” said Yauck.

Cobalt Partners has a reputation of doing largescale projects, rather than developing one building at a time. It was the development firm for the 60acre Whitestone Station brownfield redevelopment in Menomonee Falls and the 40-acre 84South development in Greenfield. Similarly, C.D. Smith contributed to a 10-building redevelopment project in downtown La Crosse.

While smaller in size than some of Cobalt’s other projects, the 14-acre project in downtown Kenosha is one of the firm’s largest projects from the standpoint of impact and transformation, Yauck said.

The nine-block development area – all of which is already owned or controlled by the city or the developer – is bordered by Sheridan Road on the west, 5th Avenue on the east, 52nd Street on the north and 56th Street on the south.

The development’s most eastern block, which biztimes.com / 17

COBALT PARTNERS

STORY COVER

Rendering of Cobalt Partners and C.D. Smith’s project looking east.

borders the Harbor Park condo development, would include around 80 townhomes or flats to add a buffer between the existing low-rise development and comparatively high, high-rise development that the developers have planned.

The three blocks west of that would include a trio of 10- to 12-story mixed-use buildings with retail and housing above. In total, they would have about 600 housing units and 55,000 square feet of retail space.

“They’re mid-rise buildings, but for Kenosha they may as well be high rises because that’s as tall as any building we currently have,” Casey said.

The northern two blocks of the development intend to create a sense of place and destination.

In addition to 420,000 square feet of office space, these blocks could include a 200-room, full-service hotel; an additional 42,000 square feet of retail space; an area for a market hall or food hall; a 2.5-acre park that could include a water feature and ice skating; and activated pedestrian space, or “laneway,” between the buildings. To cap it off, the area could have an approximately 20-story residential building overlooking the harbor.

The south end of the development will include another block of housing and space for a new city hall, as the existing city hall – previously a vocational school in the 1940s – would be torn down to make way for the 20-story residential building.

“We’ve really got an opportunity to build the next phase of downtown here,” Casey said. “As some of these buildings start to go up, people will start to change what they consider to be downtown Kenosha. When you drop in potentially six mid- to high-rise buildings, people are going 18 / BizTimes Milwaukee OCTOBER 23, 2023

to drive into Kenosha and go, ‘Wow, Kenosha has gotten a lot bigger. There’s a lot more going on downtown.’”

“I’m looking forward to the city actually having some taller buildings because we have very few tall buildings in Kenosha,” Antaramian said. “It’ll create the density we need. If we want the downtown to truly prosper and succeed, we need to have population downtown.”

Cobalt Partners and C.D. Smith worked with Chicago-based architecture firm SCB on the conceptual master plan and preliminary building designs. SCB designed the 35-story 7SEVENTY7 apartment building in downtown Milwaukee and the 31-story apartment tower under construction

by Houston-based Hines in the city’s Historic Third Ward.

“Being able to create a vision that’s more comprehensive than a one-off project is really where the value is and the synergies lie,” Yauck said.

The impact Construction will likely begin with the trio of retail-residential buildings.

Cobalt is expecting to start prep work on the project site later this year, with construction on the first blocks beginning in spring of 2024.

“You start building, adding hundreds of people, some new shops, you really create a 24/7 environment. It’ll support some more retail, some coffee shops and all that will come later in the development,” Casey said. “It’s probably going to take some time as the office market continues to recover, but we think that as we develop this part of downtown and the excitement that comes with it, it will be-

come more marketable overall.”

The project’s $450 million price tag is being supported by the city with about $85 million in tax incremental financing.

“We certainly have confidence in putting together a project that’s financially viable and that’s the expectation, and I don’t see any reason that won’t be the case,” Yauck said. “It’s more challenging now (given costs of construction and capital), but we find ways to work through that.”

Project organizers and city officials are anticipating that, like many urban neighborhoods, the tenants of the development’s residential buildings will be mostly young professionals and some retirees.

For many years, Antaramian has worked to find ways to attract and retain young people in Kenosha. This development, complete with rooftop decks on almost every building and an overall “urban feel,” will help with that mission.

Further, Kenosha’s connection to Chicago via a Metra commuter rail line could draw some Illinois residents who might otherwise still live in the Chicago area for its density and vibrancy.

“We think there’s a lot of Illinoisans who have moved up to Kenosha already, and we think that’s a trend that’s going to continue,” Casey said.

For the Kenosha Area Business Alliance, the development could be a selling point for companies looking to expand or move to the Kenosha region.

“When we have an employer looking at maybe building a facility in Kenosha County, we can take them downtown and say, ‘This is where your employees could be living, they can have this vibrant quality of life. Your executives might even want to work or live here,’” Ryf said. n

Friday, November 17, 2023 7:00 AM – Registration & Networking | 7:30-9:45 AM – Breakfast & Program | Brookfield Conference Center

Prepare Your Next Move

Are you positioned for future opportunities?

Join industry experts for a keynote and panel discussion on strategies to thrive in dynamic commercial real estate landscape, including dealing with higher interest rates, rising construction costs, housing affordability issues and a soft post-pandemic office market. You will gain insights into emerging trends and connect with professionals from across the industry. Join us November 17th to shape your future success.

Keynote: Spencer Levy, Global Client Strategist and Senior Economic Advisor, CBRE VALERIE HILL

Spencer Levy, part of the Global Client Care team at CBRE and host of The Weekly Take podcast, will start the program by sharing his thoughts on the current state of commercial real estate, informed by hundreds of conversations with the largest occupiers and investors in the world.

Panelists: • Marianne Burish, Executive Vice President, Transwestern (1) • Tim Gokhman, Managing Director, New Land Enterprises (2) • Kevin Newell, CEO, Royall Capital (3) • Derek Taylor, COO, Three Leaf Partners (4) Moderator: • Andy Hunt, Vieth Director, Center for Real Estate, Marquette University (5)

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Special Report

CHARLESTOWNE HOTELS

BUSINESS IN RACINE & KENOSHA

The former Zahn’s department store in downtown Racine was recently converted into the 80-room Hotel Verdant.

Downtown Racine gets boost from new boutique hotel

BY MAREDITHE MEYER, staff writer FOR MUCH OF THE PAST four decades, the former Zahn’s department store building in Racine cast a dark shadow on an up-and-coming downtown that has long struggled with blight and economic disinvestment.

Once home to Racine’s premier shopping destination, the 50,000-square-foot, four-story department store was abandoned after Zahn’s went out of business in the early 1980s. The historic property remained vacant until late 2019, when plans for a new boutique hotel promised to breathe life into the northwest corner of downtown’s central Monument Square.

Four years later, the 80-room Hotel Verdant – which opened its doors at 500 Main St. in early August following a $40 million adaptive reuse project led by Milwaukee-based Dominion Properties – stands as a symbol of forward movement for the downtown community and surrounding businesses.

“Having that previously vacant building for so long was sort of this constant reminder that we still aren’t making enough progress. But now, with (the hotel) anchored there, it has really transformed Monument Square,” said Kelly Kruse, executive director of Downtown Racine Corp., which organizes more than 80 public events per year to help drive traffic and business to downtown Racine. Its annual Party on the Pavement in September is considered the largest street festival in southeastern Wisconsin and this year drew 20,000 people.

Hotel Verdant’s 80 rooms – including a mix of queen, king, and junior and presidential suites – are divided between the former Zahn’s building and a 26,660-square-foot, four-story addition built on to the south side of the original building.

20 / BizTimes Milwaukee OCTOBER 23, 2023

The hotel features a first-floor restaurant, dubbed Marguerite, a rooftop cocktail lounge, called Eave – with panoramic views of downtown Racine and Lake Michigan – and a 3,500-square-foot event space for groups of up to 200 people.

BUSINESS IMPACT Kruse highlighted two other “anchor” businesses along Monument Square that have helped raise its profile as the hub of downtown activity: Lakeview Pharmacy, which recently completed an interior and exterior renovation project under new ownership, and The Maple Table, a farm-totable restaurant that opened in 2019 in a remodeled former Subway shop.

“The transformation of our Monument Square has been a catalyst and offers us the opportunity to display that we are making progress,” said Kruse.

Hotel Verdant and its two restaurant concepts are among 70 businesses, ranging from beauty salons to real estate agencies, that have opened physical locations in downtown Racine since 2021, said Kruse. Many of those businesses now stand to benefit from the increased foot traffic and exposure a new hotel can bring to a downtown neighborhood.

“We do get a lot of visitors from the Milwaukee and Chicago areas – it’s such an easy, day-trip drive – and this should really help catapult more people to come down for the day and have a beautiful stay (at Hotel Verdant),” she said.

As Racine’s only full-service, boutique hotel property, Verdant is expected to draw locals and visitors alike. It particularly serves a need for higher-end lodging options suitable for out-oftown execs or clients of the larger companies in

the area, such as S.C. Johnson, Johnson Outdoors, Modine and Case IH. “All of these large businesses are looking for a quality place to have people stay when they come into town and they previously had to send them to Milwaukee,” said Mike O’Connor, co-principal and chief executive officer of Dominion Properties.

COMMUNITY INVESTMENT When O’Connor and partner Christopher Adams embarked on Dominion’s first-ever hotel project – with CG Schmidt as the general contractor and The Kubala Washatko Architects and Chicago-based Gettys Group as the designers – sustainability was at the forefront of their vision. Beyond the use of chemically neutral materials throughout the construction process, the building features a green roof, solar panels, wind turbines generating on-site energy and an underground heating and cooling system.

From a consumer-facing standpoint, the hotel was designed to serve as “Racine’s living room,” replete with cozy common spaces and roughly 200 works of original local art hanging on the walls of guest rooms and public areas thanks to a partnership between Dominion Properties and the Racine Art Museum.

To that end, the developer enlisted South Carolina-based Charlestowne Hotels to operate the property. With 42 hotels in 18 states – including now two in Wisconsin – Charlestowne specializes in managing adaptive reuse developments and properties located in secondary markets, which made Hotel Verdant a “dream” client, said CEO Kyle Hughey in a statement, calling Racine a “hidden gem tucked between Milwaukee and Chicago.”

“We needed somebody who had done this before, and they’re very capable,” O’Connor said of Charlestowne’s management style.

While Hotel Verdant was Dominion’s first project in Racine, it likely won’t be its last. The company bought the adjacent 4,000-square-foot building just south of the hotel with plans for a possible expansion of the hotel or to fill it with a complementary business. O’Connor also hinted of some other “secret projects” in the works.

The hotel is also not the only major project being added to downtown Racine. Just three blocks north, the Breakwater 233 luxury apartment complex is under construction for an expected August 2024 completion. Kruse said the project will provide some much-needed density to an often-quiet part of town.

“We don’t have a lot of market-rate apartments in the downtown district, so that should be a really nice catalyst because, as you can imagine, you need people living downtown with discretionary incomes in order to help those businesses survive Monday through Thursday, when maybe there aren’t as many events going on,” she said. n

VALERIE HILL

INSURANCE

Melissa Winter

How Acuity is factoring climate-related risk into its expansion strategy Q&A with president Melissa Winter AS THE FREQUENCY and severity of natural disasters have increased in recent decades – largely due to the impact of climate change – the insurance industry has taken a hit.

According to a 2021 report from the national Insurance Information Institute, average annual insured losses from tornadoes, hurricanes, severe storms, wildfires, floods and other natural disasters have risen nearly 700% since the 1980s, from $7.6 billion to $88.4 billion.

As a result, property and casualty insurance companies across the U.S. have had to pay out more in claims, raise premiums and, in some cases, pull out of markets like Florida and California that are more prone to hurricanes and other severe weather.

As insurance companies look to sustain profitability and growth, climate-related risk is a factor that can’t be ignored. That’s certainly true for at least for one property and casualty insurance company based in southeastern Wisconsin that is actively expanding its geographical footprint.

Sheboygan-based Acuity currently covers more than 130,000 businesses and nearly half a million homes and private passenger vehicles in 31 states and is on track to expand into another eight to 10 states over the next decade. The company will enter Maryland as its 32nd state next year.

To find out how escalating environmental challenges are impacting Acuity’s expansion strategy – and the insurance industry at large – BizTimes Milwaukee associate editor Maredithe Meyer conducted a Q&A with Acuity president

Melissa Winter.

BizTimes: How does climate-related risk help shape Acuity’s expansion strategy? What role do regulatory frameworks and government policies play in your expansion choices?

Winter: “Acuity researches many different factors when determining where we expand.

Insurance is regulated at the state level so understanding the competitive and regulatory environments for each state is key. Climate-related risk is also an important element of adequately pricing for exposures in an area. Insurance companies need to file their rates with and get approval from the states in which they do business. Adequate pricing is important to cover loss trends for exposures in order to provide superior protection and service to our policyholders over the long term.”

Are there certain states/regions Acuity will not target for expansion due to climate and associated environmental risks?

“No, decisions are not made solely on one item affecting a state. However, we do seek to avoid extreme climate-related risks where possible. We try to avoid exposures that cannot be adequately evaluated or have unacceptable levels of uncertainty. Increased insurance regulation may lead to changes in the underwriting strategy for a given location and preclude us from considering a state entirely.”

Of the states Acuity currently does business in, which are considered most risky due to climate and which are considered least risky?

“Each state we write in brings its own unique

climate-related risks from wind, hail and wildfires to floods, earthquakes and winter related perils. Insurance is all about managing risk and being prepared to handle whatever that risk might look like for our customers. Simply put, it is why we are in business. Understanding the various weather-related risks in each state, diversifying the risk across our geographic operating territory and pricing adequately for given exposures are ways insurance carriers manage and mitigate risk.”

How has the gradually increasing frequency and severity of natural disasters in recent years impacted business for Acuity?

“All property and casualty insurance carriers are impacted by the inherent unpredictability of natural disasters. Both the frequency and severity of storms, wildfires and floods in the U.S. have been more volatile during the past decade. Other factors impacting severity include more people living in high-risk areas, population growth in areas with weaker enforcement of building codes and urban expansion. As the frequency and severity of these events increase, so too does the total amount of loss dollars carriers like Acuity need to pay for claims from covered policyholders. Core to our strategy is the incorporation of weather and climate variability (and other loss trend) data from our operating territory into our underwriting and pricing decisions.”

What are the methods or tools Acuity uses to assess environmental risk and identify regions vulnerable to environmental hazards?

“Acuity uses various analyses and methods, including proprietary and third-party computer modeling processes, to evaluate our climate-related risks and make underwriting, pricing and reinsurance decisions designed to manage the company’s exposure to catastrophic events. We continue to evaluate and adopt new tools that assist us in assessing susceptibility to perils such as wildfires.

Experience from past environmental events also shapes our strategies moving forward in anticipation of the next weather-related event.”

What else should business and individual policy holders know about the impact climate change is having on how and where insurers are doing business?

“Property and casualty insurance is a business dedicated to managing risk. While climate change is concerning, carriers have multiple ways to combat and mitigate their exposure to losses. At Acuity, this includes having a strong capital base to intelligently manage and support the risks we assume, including weather-related perils. Adequately pricing for exposures as well as a disciplined approach to underwriting and risk management are key to long-term profitability of the carrier and to ensure superior protection and service to policyholders for many years into the future.” n biztimes.com / 21

Special Report INSURANCE

Aaron Zwaska

David Lancaster

Innovation in how benefits are offered key to lowering health insurance costs for employers

BY ASHLEY SMART, staff writer THE RISING COST of health care coverage is nothing new for employers.

In 2023, health benefit plan premiums grew at an overall rate of 7.1%, according to an annual health care trend report published by Madison-based insurance brokerage M3 Insurance.

That’s compared to a historical growth rate of 6.6%.

“This trend appears to be the result of multiple factors, notably inflationary factors on medical costs and the effects of deferred medical care during the pandemic,” according to the report.

Aaron Zwaska, senior vice president at insurance brokerage Brown & Brown in Milwaukee, also cited inflation as a major external factor impacting health insurance premiums, particularly the rising costs health care systems must pay to attract and retain health care practitioners. Since health care systems need to pay higher wages to attract talent, those costs are being passed along to customers purchasing health insurance.

Recent investments in modern health care innovations, like gene therapies, are also a contributing factor.

“With the invention of new therapies is the introduction of significantly higher cost opportunities,” said Zwaska. “You’re seeing some very 22 / BizTimes Milwaukee OCTOBER 23, 2023

impressive treatments that could potentially cure significant conditions, but that comes along with significant costs. High-cost claims continue to get higher as new innovations are introduced.”

The increasing amount of money being spent on specialty prescription drugs is an area of particular concern for David Lancaster, executive vice president of employee benefits at Waukesha-based R&R Insurance Services. What used to be between 10% to 15% of a customer’s total spend has grown to between 20% to 30%.

“We are now seeing situations where we have seven-figure and million-dollar prescription drugs, which are a wonderful thing, but they create significant cost stress to the system,” said Lancaster.

To lighten the financial burden of health care coverage, employers and their health insurance brokers are seeking unique solutions to offer benefits that employees will value.

Moving from a fully insured health insurance plan to a self-insured plan allows for more flexibility in handling prescription drug costs. Another method for cost savings is using a pharmacy benefit manager. PBMs are third-party companies that administer prescription drug benefits on be-

half of health insurers, large employers and other customers. PBMs help organizations manage the amount of money being spent on drugs.

For example, by looking at treatment patterns, a PBM would be able to help identify an employee that regularly travels to a clinic for a costly injection and provide an alternative, lower-cost solution, such as having a family member trained to administer the injection at home. PBMs can also find cheaper drug options by searching internationally.

“Plan design changes can no longer be the sole remedy to control cost,” said Lancaster. “We’re going to win the war by attacking on multiple fronts.”

OTHER HEALTH CARE TRENDS Brown & Brown is seeing increased interest from business owners in making access to primary care providers easier for employees. During the COVID-19 pandemic, it was more difficult for people to visit their physicians, which led to undiagnosed or unmanaged health conditions.

“You saw a little bit of disengagement with primary care and routine visits, which is dangerous,” said Zwaska.

Some organizations have introduced on-site or near-site clinics to make it easier for employees to receive health care. Constant employee education on the importance of doctor visits is key to encouraging healthy habits.

Easier access to behavioral health care is an-

other benefit that’s become increasingly popular with employees and their families.

Offering multiple health care plans that are attractive to different demographic groups is also appealing, according to Lancaster. For younger generations, like Gen Z, health care is not usually a top priority, so a lower-cost plan with a higher deductible could be the perfect solution. They’ll still have insurance in case of an emergency but will have less money coming out of each paycheck.

At M3 Insurance, the percentage of clients opting to offer high-deductible plans has risen from 69% to 72%.

“This overall trend appears to be driven by an uptick of adoption of consumer-driven plans, medical inflation and employers offering high deductible options to ensure compliance with Affordable Care Act affordability requirements,” according to the report.

Being self-funded is becoming more common because it gives employers more access to data and greater flexibility in customizing their health care benefits plan.

“Employers that have more data are much more successful in negotiating quicker and more effectively because they have a better sense of

what’s going on,” said Zwaska.

Managing a health care benefits plan is a yearlong process that organizations should plan for strategically, including looking at data from the previous year to see if the budget is above or below average.

Smaller employers may struggle more than larger employers in handling rising health care costs due to their lack of data. Larger employers have more access to data that allows them to manage risk more appropriately, according to Zwaska.

“You also maybe want to do some survey work with your membership to gauge what’s important to them,” he said. “From there, you need to think about what’s next, what’s new and innovative in the marketplace.”

When considering a new benefit offering or plan design, it’s important to take time to research and make sure an innovation isn’t just a trend. You should also give yourself plenty of time to communicate any potential changes to employees.

In handling rising health care costs, Lancaster said it’s less about shifting rising costs onto employees and more about changing the way benefits have historically been offered. Programs that remove employee cost sharing but incentivize

“With the invention of new therapies is the introduction of significantly higher cost opportunities. You’re seeing some very impressive treatments that could potentially cure significant conditions, but that comes along with significant costs.

High-cost claims continue to get higher as new innovations are introduced.”

— Aaron Zwaska, Brown & Brown

healthier behaviors are becoming more common.

“If you have better data, you can make more informed decisions about where you may have specific risk in your membership and where you should invest,” said Zwaska. n

2024

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JOANNE SZYMASZEK

NOTABLE WOMEN IN INSURANCE

BizTimes Milwaukee is proud to present its showcase of Notable Women in Insurance, spotlighting accomplished professionals throughout the insurance industry in southeastern Wisconsin. The individuals profiled on the following pages were nominated by their peers and highlight the talent in the region.

METHODOLOGY: The honorees did not pay to be included. Their profiles were drawn from nomination materials. This list features only individuals for whom nominations were submitted and accepted after review by our editorial team. To qualify for the list, nominees must be based in southeastern Wisconsin and currently serving in a senior-level role at their organization.

MANAGING DIRECTOR

RISK STRATEGIES Over her decades-long career, Joanne Szymaszek, managing director of Risk Strategies, has made significant impact as a leader, mentor and community supporter, according to Steve Giannone, central region leader of Risk Strategies.

“Joanne’s foundation in working for both large public and midsize private entities, along with previous experience as an entrepreneur, has provided opportunities for her to focus on her passion of creating meaningful relationships,” said Giannone.

“Joanne’s intentionality in her approach results in achieving personal and professional goals, shepherding an organization’s mission and making a difference.”

“Joanne continues to inspire me and others around her. Her energy, drive and focus on raising up her colleagues, her associates and her peers motivates me to pursue my own personal and professional goals,” said Wendy Arnold, business development and carrier relations at Risk Strategies.

Szymaszek has twice been awarded the West Bend Spirit of the Silver Lining recognition for work with Crohn’s and Colitis Foundation and Junior Achievement.

Congratulations Joanne Szymaszek A Notable Women in Insurance

Risk Strategies, a top national specialty insurance broker, is a proud supporter of the Milwaukee business community.

Congratulations to Joanne Szymaszek for your impact as a leader, mentor, and community supporter and to all the honorees being recognized as insurance leaders.

Risk Strategies. A Specialist Approach to Risk.

Property & Casualty | Employee Benefits | Private Client Services | Consulting | Financial & Wealth

riskstrategies.com 24 / BizTimes Milwaukee OCTOBER 23, 2023

KATE CURRENT

DIANA SCHMIDT

CHERYL LITVIN

DIRECTOR OF EMPLOYEE BENEFIT OPERATIONS

PROPERTY AND CASUALTY CONSULTANT | PRINCIPAL

INSURANCE AGENT

HAUSMANN GROUP Kate Current was hired by Madison-based Hausmann Group in 2021 for the newly formed role of director of employee benefit operations. In this role, she has decision-making authority over benefit client experience, developing and growing the Milwaukee office and serving as a strategic advisor on the executive management team.

“In 2023, Kate has spent considerable time defining our target market, identifying our key differentiators and creating efficiencies across the entire employee benefit team. This has led to enhanced service offerings and an uptick in new client sales for the agency,” said Barry Richter, president and principal of the Hausmann Group.

“Kate’s journey in the insurance sector is a brilliant reflection of her appreciation for risk and technology. She’s served the insurance industry as a carrier, a tech partner and broker partner,” Richter said. “She welcomes change and encourages those around her to ‘experiment’ and to think creatively. She isn’t afraid to ask the tough questions and to disrupt the status quo.”

HAUSMANN GROUP Diana Schmidt joined Hausmann Group in 2017 and leads the property and casualty division for the Pewaukee office.

The year after joining the firm, she graduated from the Waukesha County Business Alliance’s leadership development program. In January 2021, Schmidt was nominated and voted in as a principal at Hausmann.

Schmidt played an impactful role in helping Waukesha-based Innovative Signs recover from a fire that burned down its building in 2021.

“Diana was not my agent of record, but she was there for me the entire time. She did this because she has a passion for the industry and for people,” said Chad Schultz, president of Innovative Signs.

Schmidt currently serves as board president for Blessings in a Backpack and joined the NARI Foundation board in 2023. She has also been asked by ABC of Wisconsin to do a breakout session on cyber security for Supercon/ABC of Wisconsin in 2024.

FIRST ASSOCIATED INSURANCE AGENCIES INC. Colleagues say Cheryl Litvin, an insurance agent at Brookfield-based First Associated Insurance Agencies Inc., is more than just an insurance expert; she’s a standout figure in the industry.

“She’s known for her genuine approach and knack for making insurance feel approachable. Cheryl has gained a reputation for trustworthiness, seamlessly blending transparency with expertise,” said Lori Wood, operations manager at First Associated.

Since 2019, Litvin has taken on leadership roles within several community associations.

“It is her goal to drive local business growth,” Wood said. “Her involvement with women’s groups not only showcases her dedication to supporting women-owned businesses, but also places her at the forefront of strategies and initiatives designed to empower and elevate female entrepreneurs.”

Litvin volunteers at a local women’s facility and has been honored with the Department of the Army Commanders Award for Civil Service.

“For those stepping into the world of insurance, Cheryl is leading the way,” Wood said. “She is actively mentoring newcomers.

She equips the next generation with the skills and knowledge to tackle complex insurance challenges.”

“There is no limit to what we as women can accomplish.”

- Michelle Obama

Congratulations to Diana Schmidt and Kate Current, both recognized on the 2023 list of Notable Women in Insurance!

Pewaukee 262-521-5700 • myhaus.com • Madison 608-257-3795

biztimes.com / 25

RITA NAPIERALSKI

PAMELA RUSHING

PATTI BLASCHKA

REGIONAL PRESIDENT

PRESIDENT SUBSIDIARIES AND CHIEF UNDERWRITING OFFICER

VICE PRESIDENT AND SHAREHOLDER

VIZANCE In Rita Napieralski’s role as regional president at Hartlandbased Vizance, her focus is on leading the sales team.

She is the first woman at Vizance to hold the role of regional president, overseeing 45 associates in the Kenosha and Racine offices.

Napieralski joined Vizance in 2022 after holding various roles in the insurance industry for more than 20 years. Her experience has included streamlining service processes and integrating new programs that focused on improving the client experience.

“Since joining Vizance, Rita has implemented a number of strategic changes, with a focus on company culture and growth,” said Sarah Ocampo, chief of staff at Vizance.

“Rita sees every opportunity as a learning opportunity. She enjoys teaching the ‘people’ side of problem solving. Everything starts with a person, and every person has a skill set they can bring to the table if you let them,” Ocampo added.

“In the past year, Rita has fully embraced her new role. We’re excited to see her cultivate an environment where associates can learn and grow,” said Jeff Cardenas, president of Vizance.

CHURCH MUTUAL INSURANCE COMPANY Pam Rushing in June joined Church Mutual Insurance Co. as president of subsidiaries and chief underwriting officer.

“Pam brings an incredible wealth of insurance knowledge to our enterprise, coupled with a commitment to strategic change, growth and cross-functional collaboration,” said Alan Ogilvie, president of Church Mutual. “She is an important addition to our senior leadership team and will help ensure our success for decades to come.”

Starting out in the insurance industry as an entry-level underwriting assistant, Rushing has proven to be a high achiever, according to Dawn Bernatz, assistant vice president of corporate communications at Church Mutual.

Among her accomplishments, Rushing led the growth of three small commercial- and middle-market property and casualty business units with a combined gross written premium of $300 million across the U.S. In addition, Rushing envisioned, created and launched a new specialty general liability business to provide enhanced capabilities and solutions to agents. The team she assembled was successful in achieving its top-line goal.

CONGRATULATIONS, RITA NAPIERALSKI! 2023 NOTABLE WOMAN IN INSURANCE

Rita embodies the qualities of a true leader: vision, resilience, and an unyielding passion for her work.

She has not only elevated our organization but also inspired countless individuals along the way!

Learn more: vizance.com

26 / BizTimes Milwaukee OCTOBER 23, 2023

ROBERTSON RYAN INSURANCE Patti Blaschka, vice president and shareholder of Milwaukeebased Robertson Ryan Insurance, has excelled in the male-dominated insurance industry, serving as a strong advocate for women and also for diversity and inclusion, while fostering a positive corporate culture and philanthropic efforts, said Allan Degner, vice president at Robertson Ryan.

“Her exceptional critical thinking, insurance expertise and strategic leadership shine through, accompanied by her class, charisma, competence and care,” Degner said.

Blaschka began her insurance career in claims management at Wausau Insurance Co., later moving to property and casualty insurance company Chubb as an underwriter. In 2008, she became an agent at Veitenhaus Insurance Services, eventually co-owning the agency.

Blaschka joined Robertson Ryan as an agent owner when the firm acquired Veitenhaus in 2016. In 2021, Blaschka became Robertson Ryan’s first female shareholder.

Her philanthropic endeavors earned her the inaugural Jack Ryan Community Service Award for her dedication to animal welfare and support for nonprofits. In 2022, Blaschka helped launch the Robertson Ryan Charitable Foundation, and currently serves as its president.

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for making the list of Notable Women in Insurance!

The entire team at Robertson Ryan applauds Patti Blaschka as she is known for her professionalism, compassion, mentorship, and generosity.

We are so proud of your commitment to helping your clients and community.

TAMMY MUCKERHEIDE VICE PRESIDENT, COMMERCIAL UNDERWRITING

WEST BEND MUTUAL INSURANCE CO. Tammy Muckerheide, vice president of commercial underwriting at West Bend-based West Bend Mutual Insurance, is credited with transforming the company’s underwriting process.

“Under Tammy’s leadership, West Bend has developed an innovative approach to streamlining the underwriting process for small commercial lines business,” said Shelley McGrew, marketing communications manager at West Bend Mutual.

Known as “West Bend Express,” the approach leverages data and analytics to quicken the underwriting process for small commercial lines ($500-$5,000), resulting in the underwriting process being completed in just 15 minutes, McGrew said.

The company is currently achieving one hour or less with this approach. As a result, West Bend can process thousands more applications annually.

“Not only has Tammy been a driving force for the digital transformation of our underwriting process, but she encourages innovation at all levels, encouraging team members to think creatively and try new approaches without fear of failure,” said Marc Emery, vice president of commercial underwriting at West Bend Mutual.

LETICIA GUZMAN

ERICA JOYCE

OWNER - LETICIA GUZMAN & ASSOCIATES

COMMERCIAL LINES MANAGER

AMERICAN FAMILY INSURANCE

MID-STATE INSURANCE

Colleagues say no one is more devoted to protecting their clients from the unexpected than Leticia Guzman, owner of Waukeshabased Leticia Guzman & Associates.

“Over the past 22 years, her name has become synonymous with American Family Insurance protection in the greater Waukesha area,” said Curt Otto, American Family sales specialist.

“Being fluent in English and Spanish has helped Leticia reach clients that have come to rely on her for honest, trustworthy advice. She is an expert at creating insurance protection customized to her clients’ needs, which gives them the freedom to go forth to confidently follow their dreams,” Otto said. “Not only does she inspire her own staff to be the best version of themselves, she also is the first to help other new agents and their staff learn the basics of successfully working in the insurance field.”

Guzman is a seven-time American Family Life Insurance Company Centurion Award winner. Other recent professional recognitions include District Agent of the Year and Wisconsin East Agent of the Year in 2022.

Erica Joyce, a licensed insurance agent and commercial lines manager at Mequon-based Mid-State Insurance, believes that by getting to know her clients she can assess their individual insurance needs and customize their insurance coverage. She has 14 years of experience and specializes in insuring condominium associations.

As a commercial lines manager for the past year, Joyce serves as the primary point of contact for clients. She is also responsible for managing the commercial lines department, overseeing the work of team members and focusing on the department’s efficiency and effectiveness.

“Beyond her professional commitments, Erica is actively engaged in her local community. She is an essential part of BNI’s leadership team and has served as an ambassador for the MequonThiensville Chamber of Commerce since 2013, demonstrating her dedication to community involvement,” said Alyssa Buth, director of marketing for Mid-State Insurance.

This year, Joyce was chosen to serve as president-elect by the board of directors for the Community Associations Institute of Wisconsin.

Congratulations, Tammy Muckerheide!

All

of us at West Bend Mutual Insurance Company are proud and honored that Tammy Muckerheide has been recognized as a Notable Woman In Insurance. We’re grateful for the hard work and dedication Tammy brings to our company, our valued customers, and our community, and we congratulate her for this recognition!

West Bend Mutual Insurance Company has been insuring homes, autos, and businesses since 1894. Headquartered in West Bend, Wisconsin, the company employs more than 1,500 associates and partners with independent insurance agencies in 14 states to bring these products and services to their valued customers.

biztimes.com / 27

ERICA KROLL

ALICIA KISER

INSURED SOLUTIONS CONSULTANT

VICE PRESIDENT OF HUMAN RESOURCES

BAIRD

M3 INSURANCE

Erica Kroll’s role as an insured solutions consultant for Milwaukee-based Baird requires her to be independent and objective for 1,400 financial advisors and their clients.

“Over her 20-year career at Baird, she has emerged from a generalist to a highly sought-after specialist on everything ranging from life, long-term care and disability income insurance.

Her impact on our advisors’ relationships with their clients cannot be overstated - from cementing prospective clients into lifelong clients to guiding existing clients through their most tumultuous periods in their lives - she is truly remarkable,” said Blake Panosh, senior insured solutions consultant and former insured solutions manager for the private wealth management division at Baird.

Other colleagues agree.

“Erica has been our go-to resource for insurance for many years.

Her extensive knowledge, objectivity and passion for doing the right things for our clients makes her an invaluable extension of our team,” says a Baird advisor in southeastern Wisconsin.

“Erica’s superpower is her devoutness to holistic wealth planning,” says an advisor in Baird’s Seattle office.

NOTABLE WOMEN IN INSURANCE

In the 12 years she has been with M3 Insurance, Alicia Kiser, vice president of human resources, has made significant contributions to the agency, insurance industry, her colleagues and in the community, according to colleagues.

Kiser joined M3 as a human resources generalist in 2011 and was promoted to manager in 2014, director in 2017 and vice president in 2020. She was named an M3 partner and shareholder in 2021.

“Over the years, Alicia has built and leads a strong human resources and talent development team, and she has played an integral role in managing the agency’s rapid growth and change,” said Jordan Herbert, senior business development executive at M3.

Thank you to our 2023 Notables Networking Sponsor:

Kiser also serves on the board of directors of Saint Camillus and the Waukesha County Community Foundation, and she is involved in committee work for the United Community Center. She was a cabinet member for the 2022 United Way of Greater Milwaukee and Waukesha County community campaign and is a former board chair for Girls on the Run.

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Meet the Flourishing Pledge Participants The Kacmarcik Center for Human Performance (KCHP) is excited to launch the Flourishing Pledge with some fantastic companies that are showing support and dedication to their employee’s overall wellness.

KCHP is part of Kacmarcik Enterprises family of companies, which includes major local contract manufacturer Kapco Metal Stamping. KCHP launched one year ago with an internal focus on employee flourishing amongst the family of companies and an external focus on making an impact in the community - helping people develop and improve personal happiness and life satisfaction, mental and physical health, meaning and purpose, character and virtue and close social relationships.

The launch of KCHP has been a major pillar of Kacmarcik Enterprises’ commitment to community engagement and highlighting Kapco as an employer of choice in the Greater Milwaukee Metro area. Their unrelenting commitment to professional and personal growth starts with talent attraction and retention, a big challenge and area of growth for many organizations in today’s job market. That very challenge and opportunity is why KCHP has designed and is offering this program to other partner organizations.

Providing a balance between business and personal wellness is at the heart of the Flourishing Pledge and Kapco’s participation, along with Big Brothers Big Sisters of Metro Milwaukee, Center for Veteran’s Issues, Granular, MATC, and Ovation Communities, underscore’s the commitment to help enrich the lives of it’s employees while working to make a positive impact on the community.

» Big Brothers Big Sisters of Metro Milwaukee » Center for Veteran’s Issues » Granular » Kapco Metal Stamping

SPONSORED CONTENT

FLOURISHING PLEDGE

Big Brothers Big Sisters ignites staff potential Can you share examples of initiatives aimed at enhancing the physical and mental health of your employees?

Besides generous health insurance benefits, Big Brothers Big Sisters prioritizes employee well-being by offering a free EAP, personal days, summer hours, and flexible scheduling. We encourage employees to take a rest or a brain break when they feel the need to recharge.

In what ways does your company encourage and facilitate the formation of close social relationships among employees?

Our “Funshine Committee” consists of staff from every department, tasked with planning enjoyable fellowship opportunities both in and out of the office. Employees enjoy an annual summer getaway (such as a riverboat cruise, Summerfest, Brewers, or mini-golf) and a holiday party. Throughout the year, we provide food days, trivia contests, giveaways, and opportunities to collaborate. We celebrate birthdays and life events and grieve losses together.

What role does leadership play in promoting and upholding employee well-being in your organization?

Our CEO and leadership team have an open-door policy. Our people leaders begin each check-in by asking staff how they’re feeling on a scale from 1 to 5. This helps supervisors monitor employees’ well-being over time and gives us opportunities to course correct when necessary. HR will also track aggregate data to keep tabs on general trends.

Big Brothers Big Sisters of Metro Milwaukee (414) 258-4778 bbbsmilwaukee.org Industry: Non-profit Employees: 35

We create and support mentoring relationships for youth facing adversity.biztimes.com / 29

SPONSORED CONTENT

FLOURISHING PLEDGE

Taking care of our employees so they can take care of Veterans How does your organization prioritize and promote happiness and life satisfaction among employees?

Center for Veterans Issues Inc., is an accommodating, family-first organization where we strive to maintain a work-life balance. We consciously provide great benefits, including the addition of a paid holiday to the 13 already observed as an incentive for self-care. We regularly treat our staff to professional sporting events such as Brewers and Bucks games, which provide opportunities to come together.

What steps does your company take to help employees find meaning and purpose in their work?

As part of our mission to improve the lives of Veterans in need, our work has meaning and purpose. From onboarding employees and throughout their careers, we remind them that they can have a significant impact, even in the smallest of victories. They are often the pebble that starts a ripple effect across a pond.

What strategies or benefits does your organization provide to ensure the financial and material stability of your employees?

As a non-profit organization, one of the great benefits that we have recently added for our employees is a 401(k) with a match. We have a 92 percent participation rate, which is greater than the average participation rate of 81 percent. By providing this benefit to our employees, we invest in their futures.

Center for Veterans Issues, Inc. (414) 345-4254 cvivet.org Industry: Social Services Employees: 81

Provides housing and supportive services for Veterans and their families.

SPONSORED CONTENT

FLOURISHING PLEDGE

Taking Granular to the next level as a top employer How does your organization prioritize and promote happiness and life satisfaction among employees?

From day one, I founded Granular with the intent to be a better place to work for digital marketing professionals. We make strides towards that goal every day, with amazing perks, a strong culture built on trust, and a level of autonomy and respect from the top down. On top of competitive pay and generous perks, we believe that time off and opportunities to balance work and life are key factors for employee happiness.

One of our biggest initiatives is our paid sabbatical. After just three years of service, employees are eligible to take one month off, fully paid to unplug and recharge. We also give additional funds for a travel stipend to encourage them to change their scenery during their time off.

What steps does your company take to help employees find meaning and purpose in their work?

What we do has real meaning to our clients and the businesses we serve. As a performance-focused digital agency, we’re responsible for growing businesses – often in a direct ROI. Working with large corporations doesn’t always tie back to a 1:1 relationship between the work we do and the lives we impact. However, it’s BizTimes Milwaukee MARCH 21,family-run 2022 crystal30 clear/ with our smaller business and clients how we impact their lives.

Granular (414) 436-2200 granularmarketing.com Industry: Advertising Employees: 24

Digital advertising agency and Google Premier Partner

biztimes.com / 30

SPONSORED CONTENT

FLOURISHING PLEDGE

Kapco empowers employees through education and training How does Kapco promote happiness and life satisfaction among employees?

At Kapco Metal Stamping, its employees are its most valuable asset. That’s why Kapco has committed to helping them reach their full potential, both personally and professionally. Kapco has built a reputation for excellence in metal stamping and manufacturing, but our commitment to quality extends far beyond our products and its people.

Can you share examples of initiatives aimed at enhancing employee potential at your company?

One of Kapco’s proudest achievements is the Kacmarcik Center for Human Performance, also part of the Kacmarcik Enterprises family of companies. The Kacmarcik Center, or KCHP, is an in-house learning institution that provides employees access to a wide range of courses and training programs. From leadership development to technical skills enhancement, Kapco’s employees have the tools and opportunities to expand their knowledge and expertise continually. The leadership team at Kapco believes in lifelong learning, and KCHP makes that belief a reality for our team.

In what other ways does Kapco take care of its employees?

Kapco’s commitment goes beyond the workplace. The company, one of the Midwest’s premier metal contract manufacturers, also supports personal development and work-life balance. The company’s flexible work arrangements, wellness programs, and a strong sense of community help “Team Kapco” strike a balance between their personal and professional lives. Kapco wants its team to thrive not just as employees but as individuals.

Kapco Metal Stamping (262) 377-6500 kapcoinc.com Industry: Contract Manufacturing Employees: 800

High-quality contract manufacturing and innovative processes

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Strategies STRATEGIC PLANNING

Drop the SWOT Here’s a better approach to strategic analysis THE PREFERRED and most widely used strategic planning tool is the SWOT analysis. The SWOT is an assessment of your organization’s internal Strengths and Weaknesses and your organization’s external Opportunities and Threats, usually developed by the planning team in a brainstorming session.

Don’t waste your time. It’s a methodology that rarely translates into a viable business strategy.

INWARD VS. OUTWARD FOCUS What’s the problem with the SWOT? First, the exercise typically produces an inwardly focused series of lists with little discrimination or prioritization. Which of your perceived strengths generate customer value? Which strengths can be leveraged as market disruptors? While your dedicated workforce (which often appears in the list of strengths) may be a source of pride, is it a marketplace differentiator? Wouldn’t your competitors also view their employees as a strength?

Which of your listed weaknesses represents a business liability, and which can you live with? Planning teams tend to focus on curing weaknesses rather than figuring out how to capitalize on strengths.

While the desire to remedy what is broken is understandable, this approach is like dieting without exercising.

LACK OF RIGOR AND SPECIFICITY Making a list of threats is also problematic. Frequently, planning teams fail to distinguish between ways in which the business could be derailed by externally imposed circumstances or events, and ways the organization might suffer from self-inflicted wounds. Threats are due to circumstances beyond 32 / BizTimes Milwaukee OCTOBER 23, 2023

our control, not generated from within. Without an evaluation of the probability the event might occur and the severity of the risk, how can the business focus its mitigation efforts?

Finally, there’s the brainstormed list of opportunities. A fundamental assumption of effective strategic planning is embedded in the maxim, “All opportunities are not created equal.” Lacking a framework that defines the strategic scope of the business, in terms of the extent – and limits – of business pursuits, how will your planning team decide which opportunities to chase, which to abandon, and which to put on hold?

LACK OF STRATEGIC INSIGHT AND FORESIGHT The second problem with the SWOT analysis is it doesn’t produce actionable strategic insight or foresight. Rather than a clarification of strategic priorities, the result is a lengthy “To Do List” (often weighted toward operational improvements). These activities are seldom anchored to industry, market, customer, or competitive dynamics.

STRATEGIC SENSING ANALYSIS What’s the alternative to the SWOT? Complete a strategic sensing analysis: identify the external issues, trends, or developments that will shape your business in the next three to five years. Survey your planning team to uncover noteworthy challenges using these topics to trigger specifics: global business context, industry landscape, distributor or partner dynamics, shifting competitive environment, accelerating technology changes, supply chain developments, workforce demographics and undercurrents, changing political, economic and regulatory environments.

Ask your team to drill down on each topic and brainstorm the business implications, both positive and negative, including potential responses.

When you have completed the analysis, ask your team to step back, assess the landscape you’ve just described, and summarize business imperatives in a “we must” format. Most leaders will quickly reach actionable conclusions: both strategic and operational. Caution: while these imperatives are not the plan, they will inform your ultimate planning priorities.

ORGANIZATIONAL/OPERATIONAL READINESS ANALYSIS An assessment of (internal) organizational and operational capacities should be completed only when the strategic direction and business development priorities have been established. The question is whether key functions and processes are sufficiently capable to support the business growth strategy, and which must be enhanced. Again, have your team identify specific concerns from the following trigger list: company culture, leadership/management, organizational structure, teamwork/collaboration, productivity/performance, business process improvement, quality, product/service development, sales, marketing, customer service, supply chain management, production, logistics, facilities and equipment, talent and organizational development, IT systems/application, asset utilization/leverage, financial considerations, regulatory compliance.

RE-HASHING THE HASH The worst misuse of the SWOT analysis is the temptation to dust off the lists at the next planning retreat to determine what, if anything, has changed, rather than refresh the business outlook in a forward-looking fashion.

It’s time to abandon the SWOT. It’s a Stale Worn Out Technique. n

PAUL WOERPEL Paul Woerpel is the president of Transformation Consulting Group. He is a strategic planning consultant with more than 30 years of experience and more than 150 clients. He can be reached at paul@ strategic-agility.com.

MARKETING

Top of mind How to promote your brand as a leading contender in your industry YOU NEED TO ENSURE your brand immediately comes to mind when a potential customer needs what your company manufactures.

You can significantly improve your chances of being top of mind by: » Making sure your brand is properly differentiated » Asking for testimonials » Highlighting your competitive advantages » Leveraging video marketing » Approaching the media to seek opportunities for interviews » Create a blog replete with relevant content Let’s assume for a moment that you need to buy a new CRM system for your company. You’ll likely think of the dominant brands in the CRM space like HubSpot, Salesforce, and Pipedrive.

And for good reason: they’ve all worked hard to earn a top-of-mind position with CEOs, business owners, IT professionals, marketers, salespeople and others involved in researching and purchasing CRM software. You could almost say they all fall into “the obvious choice” categories and “you can’t go wrong with any of them.”

You know where I’m going with this.

If someone needed to buy what you sell, are you confident your brand would immediately come up as a top contender in the minds of your prospective customers? In other words, do you have good brand awareness?

If so, you’re doing many things right, and you also know how difficult it is to maintain that top-of-

mind brand awareness position.

If not, it will be a bit of a steep hill to climb, but the steps in this article will help your brand get there faster.

In nearly every industry, there are usually one or two brands people perceive as being the best – the brands people knowingly pay a premium for because being associated with the best not only makes a statement, it also makes existing customers loyal customers.

In close proximity to the “best” brands are runner-up brands that are often 95% as good but typically cost substantially less. And then, of course, there is “everyone else” – those mediocre-to-low-quality brands for buyers most interested in finding a bargain – a crappy place to be.

In highly competitive and oversaturated industries, achieving runner-up status is no small feat and one to be very proud of.

If you’re confident that your brand is MUCH better than it is currently perceived to be, there are several things you can and should do to elevate your rank in the hearts and minds of the customers you know would benefit from what you provide. » Make sure your brand is properly differentiated so that your target audience clearly understands precisely why they need to buy from you instead of your competition. » Ask your customers if they would be willing to provide you with a written or video testimonial to post on your website and social media channels, such as YouTube and LinkedIn. To increase your chances of getting a “yes,” offer to write or script the testimonial for them. With this approach, you’ll be amazed at how willing your customers will be to help you. Testimonials from customers build brand credibility and brand consideration almost instantly. » Ensure you provide a clear and unbiased comparison of your products to those of your competitors, and highlight those areas where your product offers a better value to end-users under different applications. » Provide a short and engaging product demo

video so potential customers can view how your products perform and operate under various situations. » Approach the media to seek opportunities for interviews, and offer to write a feature story about how your brand, business, or product is unique and superior to others in your industry. » Create a written or video blog (vlog) and speak to your customers’ interests. When people understand how you think and witness your body language through a video, it helps to build trust and respect. A written blog is strong, but a vlog is even stronger.

Plug these components and assets into a well-rounded, comprehensive marketing strategy to build brand awareness with the theme, “Why (insert your company or product name here)?”

This will really be the only path to positioning your brand as a top contender in your industry, but it can only be accomplished if you have a well-defined and compelling brand.

You’ll need to leverage various marketing channels and tactics to reach your current and prospective customers while keeping your current customers engaged. n

SCOTT SEROKA Scott Seroka, the president of Brookfield-based Seroka Industrial Branding, is an entrepreneur, consultant, trainer, and mentor. He can be reached at (414) 628-4547. biztimes.com / 33

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GET THE WORD OUT! News? Press Releases? Awards?

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Submit your company news at biztimes.com/bizconnect 34 / BizTimes Milwaukee OCTOBER 23, 2023

BIZ UPDATE

BIZ PEOPLE Advertising Section: New Hires, Promotions, Accolades and Board Appointments

S VA PRO FE SSI O N A L SER V I CE S CO M M EM O R AT E S 5 0 Y E A RS commitment to community and excellence, our aspirations go beyond serving.

We’re meticulously crafting the future, ensuring that the next half-century is as transformative as the last.

FINANCIAL SERVICES

FINANCIAL SERVICES

Wegner CPAs Announces New Partner

Wegner CPAs is pleased to announce the appointment of Mitch Davis, CPA as the newest partner of the firm effective October 1st, 2023.

Operose Advisors Welcomes Dan Stier

Dan Stier has joined Operose Advisors as President and Chief Investment Officer. He is responsible for managing the overall strategic direction of the firm and investment process.

Previously, Dan was a Managing Director at Northwestern Mutual where he led the company’s strategic investment initiatives.

Dan holds a B.S. degree with distinction from the University of Illinois at Urbana-Champaign in Actuarial Science and Finance. He earned the CFA in 2010 and ASA in 2007.Dan serves as an Advisory Board member at the University of Illinois at Urbana-Champaign.

“Our history is rich in perseverance, adaptability, and innovation, all rooted in our core values to Serve People Better,” says CEO Matt Vanderloo. “As we mark our 50-year milestone, I’m amazed at our journey. I’m genuinely thrilled for what the future holds as we continue to becoming a 100-year-old firm.”

Davis received his Master of Accountancy in 2011 and his CPA license in 2012. He has over ten years of experience working with a number of different tax-exempt organizations and specializes in performing financial statement and compliance audits and preparing tax returns for a variety of non-profit organizations. He is also a technical reviewer for nonprofit tax returns for the Wegner office in Milwaukee.

LEGAL SERVICES

BANKING

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To place your listing, or for more information, please visit biztimes. com/bizconnect

SVA is excited to celebrate 50 years in business. For half a century, SVA has been the backbone of success for countless businesses and individuals.

Founded in 1974, SVA has grown to encompass SVA Certified Public Accountants, SVA Consulting, and SVA Life Sciences. Serving people better over the last 50 years has instilled us with wisdom, resilience, and adaptability, but our vision for the future is what truly invigorates us. From the fundamentals that define our ethos to our unwavering

Meissner Tierney Fisher & Nichols S.C. Welcomes Brian M. Cooley as an Attorney

MTFN is pleased to welcome Brian M. Cooley as an attorney in the transactional practice group. Brian advises clients in the areas of business organization, business and corporate transactions, mergers and acquisitions, and real estate.

Waukesha State Bank Promotes Leo Spanuello to Mortgage Lending Manager

Waukesha State Bank has promoted Spanuello to senior vice president – mortgage lending manager. In this position, Spanuello will be responsible for managing the mortgage lending staff and leading the day-to-day operations of the department.

Balestrieri is proud to welcome Jessica Balestrieri as a Project Manager/ Estimator.

In the role of Project Manager/Estimator, Jessica is responsible for bidding on jobs, developing estimates, and coordinating with the client and field supervisor to execute the project with quality and accuracy.

Welcome to the team Jessica!

BizPeople Highlight a new hire, promotion or accolade and share it with readers throughout southeastern Wisconsin.

Visit biztimes.com/bizconnect to submit your news!

biztimes.com / 35

BizConnections NONPROFIT GREATER MILWAUKEE FOUNDATION CEO ANNOUNCES RETIREMENT PLANS Greater Milwaukee Foundation president and chief executive officer Ellen Gilligan will retire from the organization next summer.

Gilligan, who has led the GMF for 13 years, plans to stay with the foundation until June 30, she said, when a new leader is expected to be in place.

The GMF applauded Gilligan for her work to pursue transformative change through deep investment in community priorities and for cultivating innovative partnerships, such as the ThriveOn Collaboration and

Milwaukee Succeeds.

“Ellen’s impact on the Greater Milwaukee Foundation, and our community, is visible in every aspect of our work,” said GMF board chair Paul Jones.

“Her vision for the foundation has transformed how and who we serve.”

“I am very proud of the team that we have built here at the foundation, and a strategic plan that is well underway,” Gilligan said. “I look forward to the next leader carrying forward that work.”

—Cara Spoto, staff writer

nonprofit

SPOTLIGHT

c alendar Versiti Blood Research Institute will host its annual Versiti Vampire

Ball on Thursday, Oct. 26 from 6-10 p.m. at the Milwaukee Club, 706 N. Jefferson St., Milwaukee. Costumes are encouraged for this year’s “Phantom of the Opera” themed masquerade ball. Tickets are $65.

BizStarts will host its Community Market Opening Celebration on

Thursday, Oct. 26, from 5-8 p.m. at the Italian Community Center, 631 E. Chicago St., Milwaukee. Tickets are $145.

The Greater Milwaukee Urban League will host its 38th Annual Black and White Ball on Saturday, Nov. 4 from 5:30-10 p.m. at the Baird Center, 400 W. Wisconsin Ave., Milwaukee. An after party will follow the event at 10 p.m. Tickets are $250.

SHARP Literacy will host its annual fundraiser “A Novel Event” on

Monday, Nov. 6 from 4:30-7:30 p.m. at The Eagles Ballroom, 2401 W. Wisconsin Ave., Milwaukee. Tickets are $200.

The Alzheimer’s Association Wisconsin Chapter will host its Walk to End Alzheimer’s - Waukesha County Celebration & Awards Party on Wednesday, Nov. 8 from 5:30-8 p.m. at the Brookfield Conference Center, 325 S. Moorland Road, Brookfield.

D O N AT I O N R O U N D U P The U.S. Department of Education has given $1.27 million to Marquette University’s College of Education and Klingler College of Arts and Sciences to fund “MKE Roots: The Democratizing Local History Project.” | HPGM raised $500,000 at its 10th annual gala, presented by Bader Philanthropies Inc. and BMO Harris Bank. | Sargento Foods has pledged to donate $52,000 to Milwaukee’s Hunger Task Force as part of its Double Helping for Hunger program with the Milwaukee Brewers this year. | DentaQuest donated $30,000 to Marquette University School of Dentistry’s Dental School Enrichment Program. | SiFi Networks donated a Digital Curiosity Station, featuring 12 computer tablets and a mobile charging station for children to the Kenosha Public Library. | Snap-on Inc. has made an in-kind donation of tools and other equipment to the engineering program at Carthage College.

36 / BizTimes Milwaukee OCTOBER 23, 2023

BRIDGE BUILDERS

4621 N. 40th St., Milwaukee, WI 53209 262-372-1564 | info@bridgebuildersmke.org Facebook: facebook.com/bridgebuildersmke Instagram: @bridgebuildersmke Year founded: 2017 Mission statement: To inspire inner city innovation that will holistically transform neighborhoods one block at a time.

Primary focus: Neighborhood revitalization Other focuses: Improving home ownership Number of employees: 4 Key donors: The Lynde and Harry Bradley Foundation, the Haeger Foundation, the Kaztex Foundation, and the Lannon Stone Foundation

Executive leadership: Kurt Owens, president; Hans Dawson, vice president Board of directors: Kurt Owens, Hans Dawson, Niya Bealin, Wesley McKenzie, Carl Brown, Dan Baker, Lauryn Deck, Tom Gehl, Rosanna Zepecki, Jerry Gainer Ways the business community can help: Bridge Builders welcomes members of the business community to join them for a “serve day” or contribute financially.

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Celebrating the journey

Learn from innovators and entrepreneurs powering the region’s future Join us as we recognize innovators and entrepreneurs taking the southeastern Wisconsin economy to the next level.

This year’s award winners will share insights on how they built their businesses, developed new products and overcame challenges.

Lifetime Achievement winner Jerry Jendusa will discuss what’s fueled his multiple entrepreneurial endeavors and lessons learned along the way. Regional Spirit winner Dean Amhaus will share insights on the collaboration that makes Milwaukee an international destination for water companies.

The program continues with a breakout session on strategies for securing your innovation and financing options for entrepreneurs running growing companies.

Attendees can connect with winners as the event concludes with a networking reception featuring cocktails & hors d’oeuvres.

Lifetime Achievement Entrepreneur Winner: Jerry Jendusa, CEO, BreakthrU Family of Companies (1) Regional Spirit Award Winner: Dean Amhaus, President & CEO, The Water Council (2) Entrepreneurship Winners: - Navroz “Norrie” Daroga, President, CodeBaby - Roy Dietsch, CEO, PartsBadger - Paul Stillmank, Founder & Executive Chairman, 7Rivers Innovation Winners: - Adam Aerospace Corp., Michael Anton Adam, CEO - Octane Coffee, Adrian Deasy, Founder & CEO - Synethaic, Corey Jaskolski, CEO

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2

BizConnections VOLUME 29, NUMBER 11 | OCTOBER 23, 2023

GLANCE AT YESTERYEAR

126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120 PHONE: 414-277-8181 FAX: 414-277-8191 WEBSITE: www.biztimes.com CIRCULATION: 414-336-7100 | circulation@biztimes.com ADVERTISING: 414-336-7112 | advertising@biztimes.com EDITORIAL: 414-336-7120 | andrew.weiland@biztimes.com REPRINTS: 414-336-7100 | reprints@biztimes.com

SALES & MARKETING

PUBLISHER / OWNER Dan Meyer dan.meyer@biztimes.com DIRECTOR OF OPERATIONS Mary Ernst mary.ernst@biztimes.com COMMUNITY ENGAGEMENT / OWNER Kate Meyer kate.meyer@biztimes.com

EDITORIAL EDITOR Andrew Weiland andrew.weiland@biztimes.com MANAGING EDITOR Arthur Thomas arthur.thomas@biztimes.com ASSOCIATE EDITOR Maredithe Meyer maredithe.meyer@biztimes.com REPORTER Ashley Smart ashley.smart@biztimes.com

The Milwaukee River from Wells Street This 1904 August Riemenschneider photo shows the Milwaukee River in downtown Milwaukee from the Wells Street bridge looking to the south. The Wells Building is visible in the distance on the left side of the photo. Ben Mock’s Livery Sale Stables in the center were later replaced by the First National Bank building, now known as CityCenter 735. The tallest building is the Pabst Building, which was replaced in the 1980s by the 100 East building, which is now planned for a conversion from office space to apartments.

REPORTER Cara Spoto cara.spoto@biztimes.com REPORTER Hunter Turpin hunter.turpin@biztimes.com INTERN REPORTER Ellie Batten ellie.batten@biztimes.com

Smoked sausage FOR THE THIRD TIME in five years, Milwaukee-based Klement Sausage Co. has lost a major local sponsorship deal to its rival, Sheboygan County-based Johnsonville.

It’s a curious trend for Klement’s, which was acquired in 2014, by a portfolio company of California-based Altamont Capital Partners.

The first big blow came in 2018 when the Milwaukee Brewers suddenly switched their sausage sponsorship from Klement’s to Johnsonville. The move stunned many in the community because Klement’s was long associated with the Famous Racing Sausages.

Some criticized the Brewers for not staying loyal to the hometown sausage company. But these sponsorships are bottom line business deals, and it was obvious that Johnsonville simply made an aggressive offer to the Brewers, much more lucrative than the Klement’s deal, and was an offer the team couldn’t refuse.

After losing the Brewers deal, Klement’s regrouped. Later that year the company entered into new sausage sponsorship deals with Sum38 / BizTimes Milwaukee OCTOBER 23, 2023

merfest and the Milwaukee Bucks.

But the Summerfest deal, which included the naming rights sponsorship for the Klement’s Sausage & Beer Garden stage at Henry Maier Festival Park, fell apart in late 2022 when Summerfest operator Milwaukee World Festival Inc. filed a lawsuit against Klement’s saying the company hadn’t made its $140,000 sponsorship fee payment that year. MWF said Klement’s still owed it $1 million through 2027.

Klement’s said that “the nature of the relationship” with Summerfest had changed since the deal was signed and that it wanted to negotiate its future obligations. The company claimed it was not in breach of the agreement.

In January, Klement’s and Summerfest parted ways. Then in February, Summerfest announced its new deal with Johnsonville.

Recently, the Milwaukee Bucks announced a new sponsorship deal with… Johnsonville. Notice the pattern?

Just how important are these sponsorship deals? Johnsonville is significantly larger than Klement’s and has more resources to compete for them. But the family-owned and Wisconsin-based business also appears to have a stronger desire to support local institutions than Klement’s, owned

SENIOR ACCOUNT EXECUTIVE Christie Ubl christie.ubl@biztimes.com ACCOUNT EXECUTIVE Paddy Kieckhefer paddy.kieckhefer@biztimes.com ACCOUNT EXECUTIVE Dylan Dobson dylan.dobson@biztimes.com ACCOUNT EXECUTIVE Christy Peterson christy.peterson@biztimes.com SALES ADMIN Shannon Whiting shannon.whiting@biztimes.com

ADMINISTRATION ADMINISTRATIVE COORDINATOR Sue Herzog sue.herzog@biztimes.com AUDIENCE DEVELOPMENT ASSOCIATE/CIRCULATION Derik Sneide derik.sneide@biztimes.com

PRODUCTION & DESIGN SENIOR GRAPHIC DESIGNER Alex Schneider alex.schneider@biztimes.com

Independent & Locally Owned — Founded 1995 —

— Photo courtesy of the Milwaukee Public Library / Historic Photo Collection

COMMENTARY

DIRECTOR OF SALES Linda Crawford linda.crawford@biztimes.com

by an out-of-state private equity firm.

The fact that Klement’s Summerfest deal melted down over what seems to be a relatively small amount of money is concerning.

But the company has shown signs of growth.

Earlier this year it closed its outlet store at its Chase Avenue plant saying it needed the space for “manufacturing demands and the need for more space for our growing business.”

Klement’s invested $7.5 million in upgrades to the plant in 2018, then sold it in 2021 for $12.2 million in a sale-leaseback deal, providing the company with a cash infusion.

Hopefully, despite losing major sponsorship deals to Johnsonville, Klement’s remains a growing and thriving business in Milwaukee for many years to come. n

ANDREW WEILAND EDITOR

P / 414-336-7120 E / andrew.weiland@biztimes.com T / @AndrewWeiland

MY BEST ADVICE

“ Be able to fail.

LILA ARYAN PHOTOGRAPHY

Get good at failing, but fail fast. ”

TAMMY MUCKERHEIDE Vice president of commercial underwriting

West Bend Mutual Insurance Co. thesilverlining.com Industry: Property and casualty insurance Employees: More than 1,500 “If you’re not willing to challenge the status quo, organizations and individuals don’t evolve within an industry. It’s important to challenge established processes and procedures.

“That can be hard for people because it’s not always easy to accept change, and you can find a lot of things wrong with the innovation that you’re trying to implement. But it’s important to keep throwing out new ideas, identifying what works, what doesn’t and what shows promise.

“What I’ve learned in my career – and this is something my boss taught me – is that we have to be able to fail and get good at failing, but fail fast.”

PROFESSIONAL EXPERIENCE: Muckerheide has worked for West Bend Mutual for 37 years. She started working there in high school as part of a co-op program before she was hired full time upon graduating high school and has excelled within the company ever since. She’s worked in records, data entry, rating and underwriting. She became a manager in 2012, a director in 2019 and was promoted to her current officer/vice president position in 2020.

Muckerheide is overseeing the implementation of new technology that leverages big data to speed up the underwriting process for small commercial insurance plans. West Bend Mutual has developed its own system that it says cuts the underwriting process down to 15 minutes. It’s a process that previously could take several days to get an insurance application to the underwriter.

In the past, there were thousands of small commercial plans the company says it was unable to quote simply because of the volume and long turnaround time. Now that number is in the hundreds, resulting in millions of dollars more of direct written premiums being quoted, according to the company. n biztimes.com / 39

PRESENTS:

2023 Award Finalists: Corporate Citizenship Awards

2023

Corporate Citizen of the Year: • Ellenbecker Investment Group • Kesslers Diamonds • MLG Capital Corporate Volunteer of the Year: • Heather Deaton, Ellenbecker Investment Group • Lauren Hess, Associated Bank • Jim Mueller, Brown & Brown

Thursday, November 2, 2023 2:30 – 6:00pm 2:30pm | Registration 3:00pm | Awards Program 4:30pm | Networking Reception Italian Community Center

Next Generation Leadership: • Patrick Lubar, Ixonia Bank • Brandon Ramey, Quad MKE • Stacy Scheffer, Charter Steel In-Kind Supporter: • Associated Bank • BVK • Wisconsin Center District Lifetime Achievement Award

• Ellen and Joe Checota

Nonprofit Awards Join BizTimes Media in recognizing the region’s top nonprofits and corporate citizens at the 2023 Nonprofit Excellence Awards.

These nonprofits and corporate citizens go above and beyond to create a lasting impact in the lives of those they serve and have truly made a difference in our community. You will be inspired by thought-provoking and heartfelt acceptance speeches from influential figures who have dedicated their lives to social change and community development.

The excitement doesn’t end with the awards ceremony; it continues with an exclusive networking and cocktail reception. We invite you to stay and mingle with the finalists, honorees, and fellow community leaders in an atmosphere of camaraderie and celebration.

Nonprofit Executive of the Year: • Kenneth Ginlack, Serenity Inns • Charlotte John-Gomez, Siebert Lutheran Foundation • Dawn Nuoffer, Down Syndrome Assoc. of Wisconsin • Miryam Rosenzweig, Milwaukee Jewish Federation Nonprofit Collaboration of the Year: • ArtWorks for Milwaukee • Curative Care Network • Milwaukee County Historical Society Social Enterprise of the Year • Sherman Phoenix Foundation Small Nonprofit Organization of the Year: • Literacy Services of Wisconsin • Milwaukee Community Sailing Center • Project RETURN • Waukesha Civic Theater Large Nonprofit Organization of the Year: • Girl Scouts of Wisconsin Southeast • Harry & Rose Samson Family Jewish Community Center • United Community Center

Register today! • biztimes.com/npawards PLATINUM SPONSOR: