By Joe Bachman
Editor

PORTAGE COUNTY — Well-known financial company Standard & Poor’s Financial, (Better known as S&P Global) has given Portage County a ‘AA’ credit rating. This is the highest rating a county can get.

In the report given to the county’s finance committee, S&P cites their opinion of the area, which includes bullet points of strong financial management, and an adequate economy. Also cited were points of strong budgetary flexibility, and a strong institutional framework.

Current unemployment rates for Portage County have risen since S&P’s 2017 findings placing rates at 3.1 percent. As of June 2018, the county’s unemployment sits at 3.7 percent. Portage County currently places 51 out of 72 counties in unemployment rating, with Lafayette County taking the top spot. Portage County does place higher than neighboring Wood, Waushara and Adams Counties, but is behind Marathon and Waupaca Counties.

The report identifies notable employers, such as:
• Sentry Insurance Group (2,250 employees)
• University of Wisconsin-Stevens Point (1,200)
• Stevens Point Area Public School District (1,100)

More importantly, the report predicts that Portage County will see growth in their market value for next year, and to maintain an adequate economy.

“We view the county’s management as strong, with “good” financial policies and practices under our Financial Management Assessment methodology, indicating financial practices exist in most areas, but that governance officials might not formalize or monitor all of them on a regular basis.”

You can view the full report on the County’s website in their Finance committee agenda.