Thrive Region Economic Asset & Opportunity Analysis

Madison Thrive Region
Economic Asset & Opportunity Analysis

Madison Thrive Region economic asset and opportunity analysis

We live in an era where competition for economic development is global rather than local. Communities across the country are now realizing they can achieve more of their goals working as part of a regional effort. Thrive, a Madison Region economic development entity, aimed to leverage the competitive advantage of the region’s unique place-based assets to drive regional economies forward.

In this context, Vandewalle & Associates began in 2008 to work with Thrive to conduct a Regional Asset and Opportunities analysis for the 8-County Madison Region. This included a systematic and comprehensive inventory and analysis of the various socio-economic, cultural and geographic forces shaping the region.

Working with a variety of regional leaders, Vandewalle & Associates identified key opportunities based on regional strengths and global trends. The Assets and Opportunities Initiative resulted in:

  • An aggregation of key place-based economic data at the 8-County regional level to be used internally and externally;
  • Identification, communication, and alignment of assets of the region toward emerging opportunities; and
  • Identification and creation of place-based opportunities that will inform long-term strategic directions in the 8-County region

The following are key place-based opportunities for Thrive and the 8-county region:

  • Growing the regional food production and processing industry;
  • Positioning to build the bio- and green economies;
  • Integrating biomedical, healthcare and wellness;
  • Packaging place-based tourism experiences for the region;
  • Building a 21st century transportation system;
  • Realizing potential as the North American Bike Capital;
  • Advancing the wellspring innovation system; and
  • Becoming a regional laboratory of sustainable solutions.