MADISON, Wis. -

Thrive, a Madison-area economic development partnership, announced implementation of a new plan to move the region's economy forward, according to a release.

The plan includes a new name, Madison Region Economic Partnership (MREP), and logo that will better communicate with counties that the partnership serves and the collaborations it is fostering, according to the release.

The announcements were made at the annual State of the Madison Region Summit on Thursday.

According to the release, the summit focused on MREP's Advance Now Strategy, a five-year plan for driving economic growth in the region that includes Columbia, Dane, Dodge, Green, Iowa, Jefferson, Sauk and Rock counties.

Work groups at the summit focused on steering strategy implementation and providing key recommendations to MREP, according to the release.

Work group suggestions help MREP engage with business owners and community leaders to solve the problems that stand in the way of their ability to expand, create jobs and thrive, according to the release.

The strategy to spur growth through a comprehensive plan includes five interrelated goal areas, the release says. They include economic competitiveness, innovation and entrepreneurship, human capital, marketing and leadership and diversity.

According to the release, the five goals help MREP and its partners aim to proactively and strategically position the region to take advantage of economic opportunities while enhancing quality of life.