Wisconsin Department of Commerce Newsletter
On Governor Doyleís Trade Mission, TrafficCast Signs Major Agreements to Provide Services to City of Shanghai
Deal Will Mean Significant New Investments for High Tech Wisconsin Company and Dozens of New Jobs in Wisconsin
On day four of Governor Jim Doyleís trade mission to China, TrafficCast, a Madison based technology and software company, signed two major agreements with the City of Shanghai that will result in new investments worth tens of millions of dollars and will create dozens of new jobs in Wisconsin.
"This deal shows the tremendous potential for innovative Wisconsin companies to play a role as China is rapidly upgrading and modernizing its infrastructure," Governor Doyle said. "This is a major coup for Wisconsin, but it is just the tip of the iceberg. China is growing at a pace and a scale that is unparalleled in history, and that means serious opportunities for Wisconsin companies to create new jobs."
"TrafficCast is honored to play a part in helping Shanghai manage its growth and development as a modern city," said Connie Li, Chief Operating Officer of TrafficCast. "We are pleased that this investment will help us to create high-paying jobs in Wisconsin."
TrafficCast, which has 35 employees in Madison but will need to expand its operations to more than 60 employees to complete the contract, produces real time and predictive traffic databases and software. The company helps municipal governments manage traffic flows, and helps individual drivers to find the most direct route to their destination while avoiding traffic congestion. Their largest clients include Yahoo!, AT&T Wireless, Verizon Wireless, U.S. Cellular, and the U.S. Department of Defense, which relies on TrafficCast to help them move convoys and personnel around the country as efficiently as possible.
Li signed two Memorandums of Understanding late Wednesday with the City of Shanghai to build a prototype system to provide traffic information on websites, cell phones, PDAs, radio and television in Shanghai. The city of 20 million people has 1.6 million cars - a number that is growing at 14 percent annually.
The MOU will mean a joint investment worth tens of millions of dollars to bring the system online in Shanghai. It will require the company to expand its Madison operations, and will also result in numerous subcontracting opportunities for other Wisconsin firms.
Li said that signing the agreement as part of a delegation led by a state Governor helps give the company added status and credibility in China. She also said it would help the company as it seeks similar agreements with Beijing, Guangzhou, and Tianjin, which along with Shanghai are the four largest cities in China. Earlier this week, Wisconsin Commerce Secretary Cory Nettles joined TrafficCast in talks with Beijing officials over a potential agreement with that city.
The Signing Ceremony was witnessed by Governor Doyle and Jiang Miankang, Director of the Shanghai City Development Research and Information Center and son of former Chinese President Jiang Zemin.
Individuals interested in following the trade mission can check out the Governorís daily blog by going to the Governorís Web site at www.wisgov.state.wi.us and clicking on China Trade Mission. The blog includes the Governorís reflections on the trip, pictures, and soundclips.
The newsletter is issued electronically every other month.
Please send comments or questions to Barbro McGinn, editor.