In 2007, Canada–Wisconsin trade reached nearly $11 billion, or an average of $30 million a day in two-way trade. Canada continued to be Wisconsin’s largest trading partner, purchasing 30% of the state’s total exports. Wisconsin’s sales to Canada outpaced Mexico — the second place country — by a margin of 3 to 1. In fact, Canada represented a greater export market than Wisconsin’s next six export markets combined: Mexico, China, the United Kingdom, Germany, Japan, and Australia.
Wisconsin exported $1.1 billion in transportation products to Canada in 2007. Motor vehicle engines — the leading state export commodity — accounted for $565 million in sales. The Badger State also imported $551 million worth of transportation products, led by $283 million in motor vehicle parts, excluding engines.
Wisconsin increased its export of machinery products to Canada in 2007, reaching a total of $1.1 billion in sales. The top commodities exported were excavating and general purpose machinery.
Wisconsin exported $774 million worth of personal and household goods — a $62 million increase over 2006. The leading state export commodity in this sector was $135 million in newspapers, magazines and periodicals, with $104 million in home furnishings the next largest export commodity.
The forest products sector, worth $1.3 billion, dominated Wisconsin’s imports from Canada. Wisconsin’s purchases included $654 million in wood pulp, $185 in softwood lumber, and $151 million in newsprint.
Metals represented the state’s second largest import sector. The $584 million in metal imports was a 34% increase from 2006. Wisconsin purchased a variety of Canadian metals, including iron, steel and alloys and aluminium and alloys.
In 2007, Canadians made 177,600 visits to the great state of Wisconsin and poured $47 million into the state’s economy. In return, residents of Wisconsin made 297,900 visits to the Great White North and spent $157 million during their trips.
Bombardier Recreational Products Inc. (BRP) has had a long presence in the Midwest. BRP’s operations include the Evinrude outboard engine manufacturing/servicing facility in Sturtevant, WI, which hosts about 400 employees, a Product Development & Service Centre in Waukegan, IL, employing about 150 workers and a Sport Boat plant in Benton, IL with about 300 employees. The company also has its main distribution centre for outboard engines in Beloit, WI, where 75 employees serve, as well as Service Technical team in Wausau, WI, with another 20 or so employees.
Canadian National (CN) operates 1,470 route miles of railway in WI, in partnership with Escanaba & Lake Superior Railroad, Minnesota, Dakota & Western Railway and Tomahawk Railway. CN employs 1,144 workers in WI, spends $113 million in the state and pays taxes amounting to $17 million. CN also invests $44 million annually in the state in capital expenditure.
In July 2007, Harris Bankcorp Inc. and its Canadian parent company, BMO Financial Group, signed definitive agreements to acquire Cedarburg-based Ozaukee Bank and New Berlin-based Merchants & Manufacturers Bancorporation. Combined, the two banks have approximately 40 full-service locations, including more than 20 in the Milwaukee area, and 13 limited service locations, as well as $1.7 billion in deposits and more than $2 billion in assets.
In April 2008, Manitoba Hydro signed a $2-billion agreement to sell 500 megawatts of power south of the border. The Crown utility says its 15-year deal with Wisconsin Public Service would start in 2018 to coincide with the anticipated completion of a major transmission line. Manitoba Hydro already sells about 100 megawatts of electricity to Wisconsin, and it expects to sell surplus energy to Minnesota starting this year. The northern U.S. border state has tentatively agreed to buy 250 megawatts of power over 15 years starting in 2020.
June 2008
