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Summary - FaB CEO Briefing: An online discussion about the state of affairs
Wednesday, March 25, 2020, 10:30 AM - 12:00 PM CDT
Category: FaB Events

 Listen to the Recording


We're grateful to Secretary Hughes, CEO of the Wisconsin Economic Development Corp (WEDC), and FaB’s Executive Board and Premium members for this CEO Briefing. Highlights include the Secretary:

  • Providing an overview of Governor Evers' Safer at Home order and special exemptions for the food and beverage industry, and your suppliers, as essential businesses.
  • Referencing a list of best practices compiled by the Metropolitan Milwaukee Association of Commerce. See below.
  • Offering to have follow-up CEO Briefings with FaB to hear industry concerns directly and to respond directly. Watch for information about our next Briefing.

WHAT CAN THE INDUSTRY DO TO HELP?

  1. Keep your people safe. Leverage these Best Practices for operating during COVID-19.
  1. Step in to assist with food security issues. If your company can donate to an area food bank or pantry, please help those most vulnerable. FaB members looking for your support include:
  1. Keep food products coming into retail. To add perspective to the difficulty the industry is facing in pivoting to maximize the flow of food, FaB shared the following stat, and while from 2010,  you’ll get the point. The Secretary was eager to learn more to rally the resources needed to aid in food service producing companies shifting product lines to retail through this pandemic.

USDA’s Economic Research Service (ERS) estimates total food expenditures for all food consumed in the United States was $1.24 trillion in 2010. Food purchased for home consumption accounted for $646.8 billion or 52 percent of the total. According to the ERS, spending on food away from home in 2010 was $594 billion or 48 percentRead the full article by Agricultural Marketing Resource Center.

 

CONCERNS EXPRESSED BY THE EXECUTIVE BOARD

Please note that FaB is developing a food industry COVID-19 page to share resources to common challenges, including these: 

  • As food service channels sales weaken, manufacturers feeding this channel are pivoting to retail opportunities, or to alternative production, such as Central Standard Distillery now bottling hand sanitizers.  
  • Liquidity and access to capital was a common concern, in particular the longer this goes on.
  • Workforce challenges were echoed by most, whether needing to lay people off or an increased demand for people.
  • Access to supply chain. While they domestically remain available, the movement of international ingredients and supply is restricted. Concerns lie along the lines of mid- and long-term accessibility.

 


PREMIUM MEMBERS

 

SELECT MEMBERS

FaBCAP PROGRAM SPONSORS

  


Contact: Val Ratz, FaB Wisconsin | [email protected]

THANKS TO OUR PREMIUM MEMBERS