State can help businesses provide jobs

CAPITOL CONNECTION
Joe Leibham  9th Senatorial District

The following data and online report includes program information about the partnerships developed by Wisconsin Economic Development Corporaton and various other economic development organizations like the Department of Administration (DOA), the Wisconsin Housing and Economic Development Authority (WHEDA), and the Wisconsin Technical College System (WTCS), just to name a few, as of June 30, 2013.

In the 9th Senate District, the state invested $23,279,700 in 23 projects for 18 different companies. The companies cover the gambit of businesses, both large and small, and in various classes including manufacturing, agriculture, information technology, retail and wholesale businesses.

The majority of the funding is in the form of tax credits, but several programs issued grants and loans. Most of the programs support job creation and retention while others provide assistance with capital investment projects.

In total, the funded projects were expected to generate 3,752 jobs in the 9th Senate District.

WEDC invests in businesses through several state and federal programs. In addition to financial assistance (grants, loans, tax credits), the WEDC provides technical assistance in the form of business education and highly-specialized consulting services.

The agency also works in communities where new business opportunities require infrastructure improvements such as downtown revitalization initiatives, technological improvements and industrial site clean-ups.

The full Annual Report and Impact Map for 2012-13 is on the WEDC website, http://inwisconsin.com/inside-wedc/impact/.

While the responsibility of funding a new or existing private sector business venture lies mostly with the private sector investor or business owner, there are appropriate times when the state can partner and assist in these opportunities.


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