MadREP designated for Commerce Dept. partnership
The Madison Region Economic Partnership (MadREP) is one of 12 new designees in the Investing in Manufacturing Communities Partnership (IMCP) initiative. Led by the U.S. Department of Commerce, IMCP is a multi-agency program designed to leverage economic development funds and accelerate the resurgence of manufacturing nationwide by supporting the development of long-term economic development strategies.
MadREP applied for IMCP designation in the Agriculture, Food, and Beverage (AFB) manufacturing sector — an industry in which the region boasts historical, locational, and infrastructural advantages. Thirty projects were included in the comprehensive strategy, spanning workforce and training, supplier network, infrastructure/site development, research and innovation, trade and international investment, and operational improvement and capital access.
As an IMCP designee, MadREP and its partners will receive coordinated support to navigate federal resources from dedicated federal liaisons at 11 federal agencies, which combined have over $1 billion available in federal economic development assistance. Designees also receive branding and promotion as a Manufacturing Community to help attract private investment and partnerships.