MILWAUKEE — During an appearance on Wisconsin’s Afternoon News, Timothy Sheehy — President of Metropolitan Milwaukee Association of Commerce (MMAC) — named his top five trends impacting the Milwaukee metro area in 2023.
Front and center at the top of the list is more of a looming question than a firm statement: Do people return to offices in 2023? In a post-pandemic landscape, people have discovered the luxuries of hybrid roles. That leaves major office space unoccupied with the city and real estate developers alike losing money.
No. 2 on the list is a more jarring trend: The number of people age 65 and older who are active members of the workforce has dropped dramatically with Sheehy asserting that approx. 900,000 seniors aren’t coming back to work after the pandemic, opting to retire instead.
“For every person looking for a job, there are 1.7 job openings, so the pressure is always going to be on the employer to get people into work,” Sheehy said.
The third item on Sheehy’s list of trends impacting the metro area in 2023 is the need to add a 1% sales tax for Milwaukee County. The MMAC President believes the city won’t have enough funds to invest in its policing or other projects benefitting the community due to an overarching need to fulfill pension obligations.
“There is no way the city can balance books,” he stated.
No. 4 on the list is the goal of equally funding students across public, private and charter schools alike. Sheehy mentioned that it would be a great way to allocate part of Milwaukee County’s $6.6 million surplus in 2023.
And last but not least, the 2023 baseball season and a new path for the Milwaukee Brewers are Sheehy’s fifth most important trend for the Milwaukee area in 2023.
As discussed with John Mercure and Sandy Maxx on Wisconsin’s Afternoon News (Sheehy appears on the show every Wednesday), these aren’t the only positive trends for Milwaukee and its business community in 2023. Sheehy noted that G.E. HealthCare, which has a large footprint in Milwaukee, is now officially on the public market, leading the way for more investments in the city down the line.
One way or another, Sheehy believes that workers will remain in the driver’s seat as we enter 2023, and that’s not a trend he expects to change any time soon.
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