Current Economy of Eau Claire

Our ever growing and evolving economy means that new construction is constantly being completed and undertaken. Take a look at some of the more major projects that have recently been added to our city and the ones that are currently in the development process.

Q3 2009 Building Valuations

Residential construction started strong in 2009.  With $2,996,407 the residential sector valuations increased 18.7% as compared to $2,524,987 during Q1 2008. This is due to an $814,863 addition to Grace Lutheran Foundation Community Based Residential Facility. Overall building valuations in the first quarter of 2009 decreased by 27.5% compared to first quarter of 2008, that is $15,555,013 in Q1 2009 compared to $21,459,866 in Q1 2008. Commercial construction remained stable in the first quarter decreasing by 0.29% in 2009 to $6,537,106 compared to $6,556,093 in Q1 of 2008.  The largest project was a $3.7 million remodel of old emergency department into new operating room suites and support area at Luther Midelfort.

Industrial construction had a very quiet quarter with only one project - $3,500 overhead door install compared to an unusually strong first quarter of 2008 where two $2.5 million projects took place bringing the Q1 2008 total to $4,860,700. Miscellaneous projects decreased by 19.95% or $1.5 million from $7,518,086 in Q1 2008 to $6,018,000 in Q1 2009.  These public projects included a $4 million addition to the Chippewa Valley Airport terminal and a $2 million Waste Water Treatment Plant Sludge Storage Tank.

Data for Q1 2008

Data for Q1 2009

3rd Lowest Unemployment Rate in Wisconsin

In July 2009 unemployment rates increased in each of the state's 14 Metropolitan Statistical Areas (MSA) compared to June and July of 2008.

During the last 13 months the City of Eau Claire maintained unemployment rate well below the Wisconsin rate illustrating the strength of the Eau Claire Economy. - view the graph

*Data from State of Wisconsin Department of Workforce Development

Eau Claire Increased Industrial Construction During 2008

Overall building valuations in 2008 were  $108,310,932; that is $1.3 million or 1.25% higher than $106,977,537 during 2007. The increase was caused by significant expansion of local hospitals and new industrial construction.

Industrial Construction

Industrial construction recorded the strongest year since 2005. With $17.1 million the industrial sector valuations increased 327% as compared to $4.0 million during 2007. The large number was due to construction of several warehousing and storage facilities located in the City’s industrial parks, including United Products ($3.9 mil), Central Warehouse and Storage ($3.4 mil), and Cascade Tissue ($2.5 mil).

More details on overall construction numbers can be found in this Development Update (pdf).

Eau Claire Ranks Highest in Wisconsin

EAU CLAIRE, WI - In the 2009 Best Performing Cities Index as published by the Milken Institute, Eau Claire was 58th out of 124 small metro markets. That is a significant improvement compared to 2007 when Eau Claire ranked 93rd. In 2008 Eau Claire's ranking topped all other Wisconsin cities in large or small metros. The Milken Institute Best Performing Cities Index measures how well the areas are creating and sustaining jobs and economic growth. It includes jobs, wages and salary, and technology growth. Further details can be found at Milken Institute Website.

Recent Completions:

Phoenix Park - This scenic, serene park was initially started in 2002 and was opened in September of 2005. Built on a site that had been contaminated by industrial use for over 100 years, the name Phoenix Park represents the transition of old to new. Since its development, Phoenix Park has spurred on the creation of many new community events, as well as attracted private developers to the North Barstow area of downtown. See below for more information on the Phoenix Park Neighborhood, currently under construction.
Sacred Heart Hospital - Sacred Heart Hospital began a new era of expansion in 2002 when ground was broken for construction of the $35 million Advanced Center for Medicine and Surgery and later the expansion of the Emergency Medical and Trauma Center and Regional Cancer Center. In May 2007, the new Center for Imaging was also completed and opened on the east side of the Hospital. This $25 million investment in technology and facilities produced the largest and most comprehensive imaging facility between Minneapolis and Madison.
Nano Rite - A Center for Innovation opened on September 2007 as a collaborative project between academic, workforce development, and economic development organizations. NanoRite is a new approach to product development, built to accommodate the development of business start-ups for nanotechnology, microfabrication, and other advanced technologies.
Chippewa Valley Technical College's Simulation City - Located on the west campus of Chippewa Valley Technical College, Simulation City is one of a kind. This unique training facility consisting of three developed buildings (with further buildings to be added) that allow for simulation exercises ranging from burning buildings to bank robberies to crime scenes.

In the Development Stage:

Phoenix Park Neighborhood - Groundbreaking for this upscale, multi-use complex was recently undertaken on June 1st. This new neighborhood will cater to both residential and commercial tenants and is located directly across from the beautiful Phoenix Park.
Luther Midelfort - After purchasing adjacent land from Valley Builders Hardware, Luther Midelfort is now planning another expansion. The two wing addition would be a five-story bed tower of 358,000 square feet of floor space housing a cancer center, ambulatory surgery center, medical surgical bed areas and women's health and nursery facilities
Metropolis Hotel and Water Park - This contemporary designer hotel has recently opened its doors to guests and features such accommodations as the Aqua Lounge and Grille, Metro Espresso proudly brewing Starbucks™ Coffee, fitness center with sauna, complimentary continental breakfast, wired and wireless internet throughout the hotel and much, much more! The Waterpark edition will be completed in Spring 2009 and promises exhilarating slides and water attractions that will be fun for everyone!
Gold's Gym - Soon to be open in August of 2008, this brand new gym facility will bring to the Chippewa Valley the newest forms of cardio machines, weights and performance gyms.  While much of the machinery and the building will be brand new, the excellent service and training that Gold's has been providing for years will remain the same.

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