In Business Madison

Meet Matthew Childress! As Wisconsin market president at Gorman & Company, Matthew works to create affordable housing opportunities that make a lasting difference in people's lives. He values the resilience and collaboration of the housing development community and believes everyone deserves a place to call home.

Learn more about IB Madison's Professional of the Month at ibmadison.com.

And do you know a professional in our community who deserves such recognition? Email [email protected] with your suggestions.

Twin brothers Alex and Jon Wuest joined their mother, CEO Connie Wuest, on the leadership team of Paul Davis of South-Central Wisconsin just before communities across the state were buffeted with unprecedented storms.

The Jacksonville, Florida-headquartered company — with over 370 locations across the United States and Canada — provides commercial and residential cleanup and restoration services following incidents involving water, fire, mold or storms.

In April, the local franchise, based in Cottage Grove with another office in Janesville, was tasked with responding to damage caused by weather conditions such as widespread flooding and hail the size of baseballs.

As the company settles into new leadership and stretches to meet spikes in local demand, the Wuests are planning ahead for expansions at the local office, while working to maintain the culture that drew them into business together.

Jim Hirsch, the retired founder of the Madison-area franchise, said the work the company does is crucial to help families recover from the unexpected.

Read more at ibmadison.com.

Story by Brittney Kenaston
Photography by Patricio Crooker

In an era where some leaders play bully ball, Jason Ilstrup prefers to keep it cordial, a trait that has and will continue to pay dividends in the ongoing redevelopment of downtown Madison.

For his ability to get things done with a little Midwestern nice, Ilstrup, president of Downtown Madison, Inc., has been selected as the 40 Under 40 alum of the year.

Inclusive downtown
Ilstrup’s background includes a law degree from the University of Minnesota, serving in the Peace Corps in Niger, and stints in the hospitality industry.

The Minneapolis native lives in Madison with his wife, Rachel Sattler, and their young son. The couple shares a passion for community service, as Rachel is senior managing attorney with Lotus Legal Clinic, which provides legal services to survivors of human trafficking and sexual violence, and founder of DaneMAC, a nonprofit that supports victims of sexual violence.

How DMI can serve the community was certainly on Ilstrup’s mind when he succeeded Susan Schmitz as president of DMI in early 2018. As the new president, he wanted to focus on issues such as economic development and transportation inclusiveness by making downtown more welcoming to outsiders.

Read more at ibmadison.com.

Story by Joe Vanden Plas
Photography by Ilana Bar-Av

The nominations for 2026’s 40 Under 40 class tallied nearly 200, a record number in the 25 years In Business Madison has recognized and honored the next generation of leaders in Wisconsin’s Capital Region.

There were so many exceptional candidates that this year’s class numbers 45.

Three outside judges reviewed the nominations and scored the submissions, leading to the final list. They included Jeanan Yasiri Moe, director of strategic communications and public affairs at the Wisconsin Alumni Research Foundation (WARF), Rebeccca Prochaska, president and CEO of Potter Lawson, Inc. and Alanna Thiede, managing director of engagement for the Greater Madison Chamber of Commerce.

In Business Madison’s editorial team also honored Downtown Madison Inc. President Jason Ilstrup as the Alum of the Year.

Community members, professional colleagues and supporters gathered on May 13 at the Monona Terrace to toast these emerging leaders from a range of fields including construction, finance, the arts, health care, legal, restaurants, education, public service and more.

A short profile of each of the 40 Under 40 honorees follow in these pages — covering a mere fraction of the excellent work they do to shape Wisconsin’s Capital Region.

Read more at ibmadison.com.

Story by Katie Dean, Brittney Kenaston, Louis Livingston-Garcia and Joe Vanden Plas
Photography by Ilana Bar-Av and Sharon Vanorny

The June issue of In Business Madison is live!

On the cover: Meet the In Business Madison 2026 40 Under 40 class and Alum of the Year Jason Ilstrup, whose leadership has helped shape downtown Madison. Inside, you'll find stories on entrepreneurship at University of Wisconsin-Madison, medical price transparency, passenger rail expansion in Wisconsin, leadership at Paul Davis Restoration of South-Central WI, a Q&A with Wisconsin Economic Development Corporation CEO John Miller and more.

Read it now at ibmadison.com.



Photograph by Bar-Av
Photo Illustration by Jess Carter

Human resources leaders help organizations attract talent, build culture, support employees and create workplaces where people can succeed.

Nominations are now open for the 2026 Executive Excellence: Finance & Human Resources Awards. Help us recognize outstanding leaders in the following categories:

• Human Resources Executive of the Year
• Large Business Human Resources
• Small Business Human Resources Executive (Less than 50 Employees)
• Public Sector & Agencies: Leadership in Local Municipalities & State Government
• Non-Profit Human Resources Executive
• Rising Star in Human Resources

Do you know an HR leader making a difference in your organization or the Capital Region?

🗓️ Nominations close June 15
➡️ Nominate here: ibmadison.com/events/executive-excellence

The 2026 Executive Excellence: Finance & HR Awards will take place July 23 at The Edgewater Madison and is presented by Forvis Mazars US, with major partners Investors Associated, LLP, Reinhart Boerner Van Deuren s.c. and UMB Bank, and supporting partner Johnson Financial Group.

Nominate a leader, reserve your seat and learn more at ibmadison.com.

Finance leaders do more than manage the numbers — they help shape strategy, drive growth and guide organizations through change.

Nominations are now open for the 2026 Executive Excellence: Finance & Human Resources Awards. Help us recognize outstanding leaders in the following categories:

• Financial Executive of the Year
• Large Business Financial Executive
• Small Business Financial Executive (Less than 50 Employees)
• Public Sector & Agencies: Leadership in Local Municipalities & State Government
• Non-Profit Financial Executive
• Rising Star in Finance

Do you know a finance leader making a difference in your organization or the Capital Region?

🗓️ Nominations close June 15
➡️ Nominate here: ibmadison.com/events/executive-excellence

The 2026 Executive Excellence: Finance & HR Awards will take place July 23 at The Edgewater Madison and is presented by Forvis Mazars US, with major partners Investors Associated, LLP, Reinhart Boerner Van Deuren s.c. and UMB Bank , and supporting partner Johnson Financial Group .

Nominate a leader, reserve your seat and learn more at ibmadison.com.

Tickets are now on sale for In Business Madison’s 2026 Executive Excellence: Finance & HR Awards 🎉

Join us as we recognize outstanding leaders in finance and human resources across the Capital Region and celebrate the professionals making a difference within their organizations and our business community.

🗓️ Nominations close June 15
🔗 Nominate here: https://www.ibmadison.com/events/executive-excellence

Nominate a leader, reserve your seat and learn more at ibmadison.com.

The 2026 Executive Excellence: Finance & HR Awards will take place July 23 at The Edgewater Madison and is presented by Forvis Mazars US, with major partners Investors Associated, LLP, Reinhart Boerner Van Deuren s.c., and UMB Bank and supporting partner Johnson Financial Group.

✨ Sponsorship opportunities are still available. ✨

There are two schools of thought about the economic effects of the U.S. war against Iran.

The first holds that price hikes due to shortages, largely the result of Iran’s strategic response to block oil tankers from moving through the Strait of Hormuz, will cause a global recession — especially if the strait, through which 20% of the world’s supply of oil travels, is out of commission for a prolonged period.

The second school says it’s a temporary situation and that once the strait is reopened, energy prices will come back down to earth — perhaps even lower than they were before.

What the national average gasoline price was before the war began on Feb. 28 was $3 per gallon. By April 11, when there was a tentative cease fire and diplomatic efforts were underway to reopen the strait, and before the U.S. launched a naval blockade of that vital passageway, the national average price of gas had risen to $4.14.

Everything from gasoline at the pump to the nitrogen-based fertilizers used by farmers — near the start of spring planting — have been affected.

Most Wisconsin farmers finalized their seed contracts last fall, but some farmers must decide whether to buy new fertilizer, which would raise their input costs, or use less from last year’s depleted supply, which could negatively affect their yields, according to Peter Lukszys, a supply chain expert and distinguished lecturer at the Wisconsin School of Business.

Read more at ibmadison.com.

Story by Joe Vanden Plas
Illustration by Getty Images