Chip Magnet Salsa, LLC is an Eau Claire “neighborhood company” as described by its owner, Alexis Lucas. However, this company is anything but average. Lucas started the business in 2011.

Later that year, she applied to the Idea Challenge and was one of the top 5 finalists. Within just two short years, the company is proud to announce that its products are now on shelves at Whole Foods in Madison!

The company competes in a challenging industry where shelf space is gold. Part of Chip Magnet’s product appeal, and its point of differentiation, is what the company prides itself on—providing delicious and safe GMO-free salsa, relishes, and jellies to its customers. If Lucas wouldn’t serve it to her family, she won’t sell it to you. The company offers 13 core flavors of salsa, 3 relishes and 2 hot pepper jellies. Lucas lets her personality shine through, particularly in the naming of her products. Names such as “Wickedly Delicious,” “Corn Star,” and “Ghoulicious” certainly jump off the shelf.

In 2011, the company’s primary sales outlet was farmers markets, where Lucas and her family sold on average 24 jars a few times per week. Today, Chip Magnet moves 130 cases each week! “We have grown faster than we ever imagined. That makes for some really good feelings of excitement, and some really stressful times of not knowing what to do next,” states Lucas.

VerveThe Spirit of Small Business

THE IDEA CHALLENGE 2013 GRAND PRIZE WINNER!On December 4th John Gustafson was named the grand prize winner of The Idea Challenge 2013 and was presented a $5,000 check on behalf of the EDC and Northwestern Bank, the 2012 program sponsor. This money is reimbursable towards expenses to advance Gustafson’s idea—The THOR Mini Quick-TachTM—to the marketplace. This idea was selected from five finalists.

“I think the most valuable aspect of this program is that it required me to go through the process of formalizing the presentation of my product,” stated Gustafson. “This will be very beneficial as I move forward in trying to sell the concept to manufacturers.”

The THOR Mini Quick-TachTM is a universal quick-attach system for sub-compact utility tractors that allows the operator to switch from one attachment to another safely and securely in a matter of seconds. The THOR Mini Quick-TachTM product line includes several attachments such

as a fork, snow blade, ballast box, tree spade, ripper, scoop, leveler, utility box, boom-lift, and a carry-all. Receiver plates are available allowing individuals to build their own attachments. In addition, the tractor’s original loader bucket can be retrofitted and used with the THOR system. Gustafson was awarded $500 cash and $1,000 in technical assistance in rounds one and two of The Idea Challenge.

A record number of 131 applications were submitted to The Idea Challenge this year. Of these, 25 applicants were selected to present their ideas to The Idea Challenge Partners.

The five finalists were selected from this group. The EDC and its partners are working with applicants, in addition to the finalists, whose ideas are feasible product concepts.

A special thank you to The Idea Challenge Partners for their ongoing commitment of time and knowledge, which makes this program a success.Thank you to all who submitted applications to The Idea Challenge 2013. Applications are already being accepted for The Idea Challenge 2014 and can be submitted at theideachallenge.com.

THOR Mini Quick-TachTM

Universal Quick-Attach System

Luke Hanson, EDC; Gerald Jacobson, Northwestern Bank; John Gustafson,

Grand Prize Winner

Chip Magnet Salsa, LLC has an extensive variety of salsas

GrowthArea ECONOMIC DEVELOPMENT CORPORATION

www.eauclaire-wi.com

WINTER 2013

INSIDE: Local Company Awarded Loan...2 ● Marketing Update...2 ● Skills Gap Report...3 ● New EDC Board Member...3

EAU CLAIRE AREA

CHIP MAGNET SALSA, LLC

See SALSA on page 2

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ANNUAL LUNCHEONSAVE THE DATE

MARKETING UPDATECHICAGO CALL TRIP

2014 MARKETING OBJECTIVES

715.834.0070

LOCAL COMPANY AWARDED TECHNOLOGY LOAN

SALSA (ON PAGE 1)

This fall, the Wisconsin Economic Development Corporation (WEDC) announced that Coating Tech Slot Dies, an Eau Claire company, was approved for a $160,000 Technology Business Development Investment Loan. This type of loan is for Wisconsin companies to facilitate research and development and commercialization of innovative technology products. The program is an important tool to help new companies advance new and innovative ideas. The EDC supported the company by completing the financing applications and by providing assistance in the development of a financial strategy.

Coating Tech Slot Dies also received a loan from the Regional Business Fund for $120,000. In addition, the EDC provided further support by hosting an event where the company presented to potential investors. Further, the EDC assisted with selecting a facility location for the company’s operation.

Coating Tech Slot Dies manufactures customized, high precision slot die coating systems for fluid coating operations. The company will also operate as an incubator site for startup companies that need to produce products but cannot wait for the manufacturing cycle of an original equipment manufacturer. Source: WEDC Press Release, inwisconsin.com

Recruiting new businesses to the Eau Claire Area is a key function identified in the EDC’s mission statement. As part of this work, the EDC recently conducted a call trip to the Chicago market. The focus of this trip was to meet with businesses, real estate brokers, and foreign consulates. Executive Director Brian Doudna represented the Eau Claire area in four appointments. One of which was with the foreign consulate from India, who was very receptive to discussions of exports from our region.

While in Chicago, Doudna was able to attend the International Dairy tradeshow through our contract with WEDA. Here he represented the Eau Claire area as well as Momentum West (MW). At the show, he led meetings with four companies that were scheduled by ROI, an outside firm that MW has hired to generate leads.

The EDC’s 2014 plan includes marketing efforts focued on:• Cont inuing bui ld ing relat ionships wi th

businesses, real estate brokers, and other strategic partners to bring new companies to the Eau Claire Area.

• Coordinating marketing efforts with regional and state economic development organizations to maximize the return on investment of marketing dollars.

• Expanding efforts to attract foreign direct investment as part of the EDC’s business recruitment function.

When: Monday, February 24, 201411:30 AM—1:30 PM

Where: Florian Gardens; Eau Claire, WIWhat: • A look back at 2013

• A look forward at 2014• Presentation of the 2014 Paragon

Economic Impact Award to a local company

Stay up-to date on the event and RSVP online at www.eauclaire-wi.com/luncheon.php

Lucas’ objective for the next 3-5 years is to “grow at a pace we can handle.” In order to do this, she plans to scale back on the company’s presence at farmer’s markets and focus on retail store growth. Additionally, as Lucas states “we would like to maximize the potential of the stores we are already in before expanding to new areas.”

In-store sampling and promotions will drive this strategy at the retail level. One example of this is a large promotion with Gordy’s County Market in Eau Claire planned for the Super Bowl. So if you’re hungry for some salsa, check out Chip Magnet Salsa at your favorite grocery store. For specific locations and more information, visit www.chipmagnetsalsallc.com.

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WELCOME NEW BOARD MEMBER!

THANK YOU RETIRING BOARD MEMBERS!

@EauClaireEDC

The EDC welcomes Dr. James Schmidt, Chancellor of the University of Wisconsin-Eau Claire, to its board of directors. Dr. Schmidt began in his role in July, 2013 and was recently inaugurated as the eighth chancellor at UW-Eau Claire. Prior to joining UW-Eau Claire, Schmidt served as vice president for university advancement at Winona State University and as executive director of the WSU Foundation board of trustees.

Two members of the Eau Claire Area EDC Board of Directors will soon retire:

Paula Kimbllin, Xcel Energy, served as the EDC Board President and on the Executive Committee.

Len Madsen, Village of Fall Creek, served a two year appointment on the EDC Board.

Thank you to Paula and Len for the expertise and leadership they brought to the organization.

Dr. James Schmidt,UW-Eau Claire

Chancellor

Paula Kimbllin, Xcel Energy

PREFER TO RECEIVE ANE-NEWSLETTER?www.eauclaire-wi.com/signup

715.834.0070

On October 25, 2013 the EDC and over 20 partners released a report titled “Narrowing the Skills Gap: A Regional Workforce Initiative.” This report is the culmination of over 14 months of collaborative work by representatives of area educational institutions, businesses, business organizations, government, workforce agencies, and non-profits.

The purpose of this effort was to understand how the skills and education of the area’s workforce align to the staffing needs of regional employers. A steering committee oversaw the research, developed key findings, and supported development of actionable recommendations. The process was facilitated by the EDC.

The report outlines the following four key findings:1. Individuals entering the workforce do not necessarily possess critical skills.2. Local labor market information and trends are not easily accessible to

consumers of education. 3. Communication, coordination of

information, and outreach efforts are not aligned to effectively address the skills gap.

4. Targeted resources are needed to support efforts to narrow the skills gap.

The report also describes these five actionable recommendations:1. Gather timely local labor market

information. 2. Communicate local labor market

information based on data generated in recommendation 1.

3. Reduce educational and training barr iers for students wi th economic challenges.

4. Develop a regional strategy to recruit individuals trained in disciplines not available through area educational institutions.

5. Address outreach barriers impacting placement of students and adults in career exploration and work experiences.

For each recommendation project leads and supporting partners are identified and will actively lead next steps towards implementation. A monitoring task force will be formed to oversee progress and support the workgroups in addressing barriers to success.

The report was presented at a press conference and a luncheon where representative project leads presented each recommendation. Special guest Dennis Schuh, Program Manager for Wisconsin’s new Office of Skills Development also presented on related state initiatives and the $15 million in funding that is now available in the form of grants to support training initiatives.

To view the full report, visit http://www.eauclaire-wi.com/skillsgap

REGIONAL SKILLS GAP REPORT RELEASED

Eau Claire Area Economic Development Corporation101 N. Farwell Street, Suite 101P.O.Box 1108Eau Claire, WI 54702ec.info@eauclaire-wi.comwww.eauclaire-wi.com715.834.0070

Brian Doudna, Executive DirectorLuke Hanson, Project ManagerChristina Wasson, Marketing ManagerAngie Niska, Strategic Communications ManagerPat Trowbridge, Office ManagerBrittany Menor, Graphic Design Intern

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