Due to being the state capital of Wisconsin, government is a significant economic force and a major employer. The University of Wisconsin-Madison is also a major job provider. Manufacturing also has an important economic role. Consumer services and high-tech industries are becoming more important to Madison especially, biotech, health and advertising. In addition, The region is a prominent farming area and has a prominent meat packing industry.
Madison is a banking and finance hub. Madison has the home offices of over 30 insurance companies. Madison is also the world headquarters for Oscar Meyer, Rayovac and Promega Corporation.
The University of Wisconsin-Madison has an important role in the growth of the local high-tech industries. Some of the research performed at the university has been transferred to businesses, especially those involved with bio-tech applications. Madison had over 450 companies classified as high-tech.
Noteworthy technology companies located in the area are Tomo Therapy, Sonic Foundry, Telephone and Data Systems, Netconcepts, Raven Software, Berbee Information Networks and Epic Systems Corporation. Prominent biotech companies exist in Madison including Promega, Pan Vera (part of Invitrogen) and Nimblegen.
Jobs are provided by companies that produce items such as food packaging products, farm machinery, hospital equipment, fabricated structural steel, optical instruments, lenses and dry cell batteries.
Madison has been ranked by Forbes magazine as having the highest percentage of people holding Ph.D's in the nation. Madison was also ranked 31st out of the top 200 metro areas for "Best Places for Business and Careers." Madison has been ranked as one of the top five cities to start a business by Entrepreneur.
Noteworthy information regarding Madison, Wisconsin: Estimated median household income in 2007: $51,000. Cost of living index in 2008: 85.6 (U.S. average: 100). Adult population which has achieved a bachelor's degree or higher: 48%.
The largest employers in the Madison area:
- University of Wisconsin - Madison
- State of Wisconsin
- U.S. Government
- American Family Insurance
- Madison Metropolitan School District
- WPS Insurance
- UW Health Hospitals/Clinics
- CUNA Mutual Group
- Alliant Energy Corp
- American Girl
- Dean Health System
- Epic System
- Kraft/Oscar Mayer Foods
- Meriter Health Services
- Springs Window Fashions
- Stoughton Trailers
- TDS Telecom
The top nonagricultural job providing sectors in Madison, Wisconsin:
- Trade, transportation and utilities
- Educational and health services
- Professional and business services
- Leisure and hospitality
- Financial activities
Madison businesses are invited to collaborate with the following associations:
- Greater Madison Chamber of Commerce
- Wisconsin Economic Development Association
- Wisconsin Technology Council
- Wisconsin Manufacturers & Commerce
- Small Business Administration - Wisconsin
Current news about Madison business and industry is provided by Madison.com.