Shaped by a rich industrial legacy, Milwaukee is evolving into a beacon of modern innovation. With biohealth, AI, water, energy technology, smart manufacturing, and financial services leading the way, Milwaukee’s dynamic ecosystem is not only thriving, but attracting attention from investors, entrepreneurs, and innovators worldwide. Here, tradition meets technology, and economic growth is fueled by the seamless integration of startups, global corporations, and advanced research.
Driving Economic Growth
At the heart of Milwaukee’s economic strength is its more than 50,000 business establishments employing over 1 million workers and generating a gross regional product of $99 billion. About one-third of Milwaukee’s businesses engage in exports, driving new revenue into the region and cementing the city’s position as a global economic player.
The city’s strategic advantages make it a magnet for businesses. The region offers a unique environment for businesses to thrive with abundant, affordable land and leasing options, an educated workforce, and low operating costs. The combination of efficient infrastructure, freshwater resources, and access to financing provides a competitive edge, helping enterprises succeed and scale.
Milwaukee’s appeal extends beyond its thriving economy and innovation ecosystem; it’s also celebrated for its quality of life and accessibility, attracting residents, travelers, and students alike. Recently, Condé Nast Traveler readers ranked Milwaukee as the No. 3 Best Big City in the U.S. (October 2024), recognizing its unique blend of cultural attractions, community spirit, and livability. The city is also among the 10 Most Livable Cities in the U.S., noted for what it offers future travelers, according to TheTravel.com. For those seeking a “golf-cation,” Wisconsin has been named America’s top destination by SimpleFlying, making the region even more attractive for leisure and tourism. Additionally, Milwaukee boasts the fastest commute time in the country (American Census Survey and Lyft, October 2024), making it an ideal location for professionals and businesses alike. In education, Gateway Technical College was recently named the best community college in the U.S. by Smart Asset (November 2024), reinforcing the region’s commitment to top-tier talent development and workforce readiness. These accolades collectively enhance Milwaukee’s reputation as a vibrant, accessible, and future-forward city.
Leading Industries Powering Progress
Milwaukee consistently receives high marks for business tax structures, ranked No. 4 among 24 mid-sized U.S. cities by KPMG International. With 18 Fortune 1000 company headquarters and a top-five ranking for Fortune 500 companies per capita, Milwaukee is home to industry giants like Northwestern Mutual, Kohls, Rockwell Automation, Generac, Harley Davidson, and Milwaukee Tool.
Milwaukee’s core industries reflect a harmonious blend of legacy sectors and future-forward technologies, driving the region’s economic engine.
Key areas of strength include power, automation, and controls; energy/water technologies and sustainability; food and beverage manufacturing; distribution and logistics; medical technology and biomedical innovation; and financial services with a strength in payments. These industries, combined with Milwaukee’s expertise in artificial intelligence (AI), robotics, and the Internet of Things (IoT), position the city as a leader in Industry 4.0—the next phase of the industrial revolution.
The Workforce: Milwaukee’s Greatest Asset
This region’s success is due to its highly skilled workforce—a motivated talent pool with expertise in engineering, manufacturing, and research. In fact, Milwaukee boasts the sixth-highest concentration of students per capita. With world-class universities such as Marquette University, the University of Wisconsin-Milwaukee, Milwaukee School of Engineering (MSOE), and cutting-edge technical colleges, the region ensures businesses can access top talent. These institutions provide a steady flow of skilled graduates prepared to lead in advanced fields. To highlight this, Marquette University has a top-rated Supply Chain Management program, while MSOE was the first to introduce an undergraduate degree in AI.
Milwaukee’s commitment to workforce development extends beyond education. Regional partnerships focus on attracting talent from around the world while ensuring that local workers stay at the forefront of technological advancements. This strategic focus on talent ensures that Milwaukee remains a vibrant hub for entrepreneurship, startups, and corporate growth. Partnerships involving the MMAC, M7 Partnership, Employ Milwaukee, WRTP Big Step, UMOS, and Experis-Manpower Group often collaborate with the state on impactful projects that drive significant results.
Furthermore, organizations like MARS Solutions Group, Teksystems, Dev10, New Horizons, i.c.stars, and Brooksource provide leading talent solutions, seamlessly integrating people, processes, and technology to empower partners to reach their goals. This commitment to workforce development has deep roots in Wisconsin’s history—after all, in 1911, the state passed the nation’s first apprenticeship law, establishing protections for both apprentices and employers. This pioneering legislation set a standard that other states and the federal government would later follow in developing their own apprenticeship systems.
Strategic Location and Regional Strength
Centrally located in the Midwest United States, Milwaukee is an essential player in the Great Lakes Region, a collective economy spanning seven U.S. states and two Canadian provinces. With a population of 95 million people, the Great Lakes Region represents the third-largest economy in the world.
Milwaukee’s location offers proximity to 38% of the nation’s manufacturing volume and 36% of capital investment in industry, making it a prime destination for businesses seeking logistical advantages. The city’s thriving manufacturing sector accounts for nearly 3% of U.S. manufacturing GDP, ranking third nationwide for manufacturing output as a percentage of GDP, and Milwaukee ranks second nationally in the percentage of its employees working in manufacturing.
Innovation in Water Technology: A Global Leader
The city has cemented its position as a global leader in water technology, anchored by the Global Water Center and powered by the Water Council. This 98,000-square-foot hub connects entrepreneurs, scientists, and industry leaders, fostering collaboration to address critical water challenges such as filtration, wastewater management, and sustainable resource use. With over 200 water technology companies based in the region, Milwaukee stands at the forefront of developing smart water systems and real-time monitoring technologies.
The city’s water innovation sector has attracted more than $211 million in research investment over the past decade, with industry giants like The Water Council, Badger Meter, Rapid Radicals, Veolia Water Technologies, and A.O. Smith leading advancements. Milwaukee’s solutions impact the region and address global water scarcity and clean water access, exporting innovations to regions in need, such as Africa, South America, and Asia.
By blending cutting-edge technologies with sustainable practices, Milwaukee is a global model for effective water management. The city is driving real change through partnerships with international organizations and governments, ensuring it remains a key player in sustainable development worldwide.
Biotech and Medical Innovation: Solutions for Tomorrow
Milwaukee’s biotech sector is thriving, driving advances in precision medicine, medical devices, and pharmaceuticals. The Medical College of Wisconsin, Milwaukee School of Engineering (MSOE), Marquette University, and the University of Wisconsin-Milwaukee (UWM) play pivotal roles in fostering collaboration between academic researchers and entrepreneurs, transforming cutting-edge research into real-world solutions. Additionally, Milwaukee is a leader in personalized medicine, particularly in theranostics and medical imaging, advancing techniques that enable targeted treatment and improved diagnostics for complex health conditions.
This seamless integration of science and business attracts global investment, positioning Milwaukee as a key player in healthcare innovation with leaders like GE Healthcare. With breakthroughs in gene therapies, diagnostics, and personalized medicine, the city’s biotech ecosystem is making strides in improving patient outcomes and shaping the future of healthcare.
Affordable Living Meets Cultural Vitality
Milwaukee, affectionately known as “The Good Land,” offers a unique blend of economic opportunity and exceptional quality of life. Ranked as the fourth most affordable city in the U.S. for populations over 500,000 by Business Facilities Magazine, Milwaukee draws young professionals, families, and entrepreneurs seeking vibrant urban living without the high costs of larger metropolitan areas. Adding to its appeal, Milwaukee is celebrated as the #2 state for golf by Golf week, recognized as a Top 10 Foodie City, and boasts one of the Top 15 Downtowns, according to Forbes, making it a dynamic destination for work, leisure, and lifestyle.
The city’s rich cultural scene—with a blend of arts, music, and culinary experiences—further adds to its appeal. From the Harley-Davidson Museum to the Milwaukee Art Museum, the Fiserv Forum, Milwaukee Bucks, and Milwaukee Brewers, the region offers attractions that draw residents and visitors alike.
A Thriving Startup Ecosystem and Collaborative Community
Milwaukee’s entrepreneurial spirit is thriving, fueled by a robust ecosystem of startups, accelerators, and venture capital. Key organizations like the Midwest Founders Community, gener8tor, and the MKE Tech Hub Coalition serve as crucial platforms, connecting entrepreneurs with investors, mentors, and industry leaders across sectors. Their programs foster collaboration, ignite innovation, and build a strong community that supports founders throughout their journeys. With a growing network of co-working spaces and incubators, Milwaukee provides the resources and infrastructure needed for startups to take root and grow.
The city’s venture funding landscape is expanding steadily, with investors backing startups in AI, fintech, medical technology, and advanced manufacturing—areas poised for long-term growth. Milwaukee saw over $200 million in startup funding in 2023 alone, a 25% increase over the previous year, reflecting heightened investor confidence in the region’s innovative potential, thanks to VC groups like NVNG, Gateway, Milwaukee Venture Partners, and Brightstar. This inflow of capital enables local entrepreneurs to scale quickly, bring new products to market, and compete on both national and global stages.
The economic impact of Milwaukee’s startup ecosystem extends beyond funding. The entrepreneurial activity has contributed to thousands of new jobs and boosted regional GDP. The combination of innovation, talent, and collaborative networks ensures that Milwaukee remains a fertile ground for business creation, driving sustained growth and positioning the city as a rising hub for next-generation technologies.
A City Poised for the Future
Milwaukee’s legacy as a center of manufacturing and industry is now intertwined with cutting-edge technologies and collaborative innovation.
The city is not merely holding on to its past but building a future powered by AI, biotech, advanced manufacturing, and financial technologies. With a focus on sustainable development, Milwaukee’s water technologies and energy innovation breakthroughs further position it as a leader in solving some of the world’s most pressing challenges.
Milwaukee’s ability to blend tradition with innovation makes it a model for other regions aiming to build resilient ecosystems. Whether you’re a startup founder, researcher, or industry leader, Milwaukee offers a unique environment to grow, collaborate, and thrive.
The city’s rich history, economic strength, and unmatched workforce provide a solid foundation for growth. As Milwaukee continues to redefine what it means to innovate, its enduring legacy will shape the future for generations to come.
