The Sconi

In a recent analysis of Wisconsin's economic landscape, Scott Niederjohn, a Badger Institute Visiting Fellow, highlighted the state's remarkable progress in various key areas. Niederjohn, who directs the Free Enterprise Center at Concordia University Wisconsin, emphasized the positive impact of free-market reforms on the state's prosperity and overall well-being.

One of the significant aspects Niederjohn touched upon is the transformation of Wisconsin's tax environment. He noted, "The days of Wisconsin being considered a 'tax hell' are long gone." Over the past decade, the state has climbed 10 positions in the Tax Foundation's Business Tax Climate Index, currently ranking 24th in 2024. This improvement is attributed to successive governors and legislative majorities embracing the call for lower taxes, resulting in a tax burden below the national average.

Moreover, Wisconsin has seen a notable influx of residents, as indicated by Niederjohn: "The latest figures indicate that people are moving to Wisconsin in significantly larger numbers than they are moving out." Data from the U.S. Census Bureau revealed a net migration gain of 5,648 residents in Wisconsin from 2022 to 2023, contrasting with negative migration balances in neighboring states like Illinois, Iowa, Michigan, and Minnesota.

Furthermore, Wisconsin's labor force participation and unemployment rates have consistently outperformed national averages. Niederjohn highlighted that Wisconsin's unemployment rate has been lower than the national rate for most years since 2000, showcasing the state's strong economic foundation and robust labor market.

In terms of entrepreneurship and business formation, Wisconsin has excelled, surpassing the U.S. median and earning recognition as the 14th best state to start a business in 2024 by Forbes Advisor. This achievement reflects the state's supportive business climate and environment for entrepreneurial endeavors.

Lastly, Niederjohn emphasized Wisconsin's significant progress in economic freedom, stating, "Since 2009 alone, the Badger State surged from 49th to 20th in North America." This advancement underscores the state's commitment to fostering a free-market economy that encourages innovation and growth.

In conclusion, Wisconsin's economic resurgence, fueled by free-market reforms and a favorable business climate, positions the state as a beacon of prosperity and opportunity. Niederjohn's analysis sheds light on the positive trajectory of Wisconsin's economy and underscores the importance of continued reform efforts to sustain and enhance the state's economic vitality.