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CDFA Wisconsin Financing Roundtable Newsletter - May 2017

CDFA Wisconsin Financing Roundtable Newsletter - May 2017
May 10, 2017
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CDFA Wisconsin Financing Roundtable Newsletter

Feature

CDFA National Summit Call for Submissions
CDFA is accepting session submissions for the 2017 National Development Finance Summit in Atlanta this November. Session submissions on deals, projects or programs that include multiple funding sources are highly encouraged. Submissions are due by May 12, 2017.

WI Tech Advocates Push for Larger Startup Tax Credits
Under the Qualified New Business Venture program early-stage companies can claim credits equal to 25 percent of the seed investments they raise. The maximum they can claim is $8 million. John Neis, the WTC and others want that cap to increase to $12 million.

Historic Tax Credit Supporters Estimate $823M Economic Impact in WI
That program has spurred a wave of developments, but also caught the attention of state officials as they compile budgets. Since 2014, 118 projects were found eligible for a combined $171.1 million in state tax credits, according to a report shared with state officials a week ago.

WHEDA to Provide Amended Loan Guarantees to Farmers
Eligible dairy farmers will be able to access loan guarantees at more favorable terms than WHEDA's current agricultural loan guarantees. Qualified dairy processors will have access to an 80 percent loan guarantee up to $750,000. Revolving working capital loans offer an 80 percent loan guarantee.

21 WI School Districts Awarded Fab Lab Grants
Governor Scott Walker and the Wisconsin Economic Development Corporation (WEDC) announced 21 school districts throughout the state have been awarded a total of nearly $500,000 in grants to establish or expand local fabrication laboratory (fab lab) facilities.

Tax Increment Financing Pays Off for Racine, WI
State law gives municipalities the tool of tax increment financing to develop or redevelop defined areas, and since 1980 the City of Racine has used it to boost its tax base by a net $181-plus million and counting.

New Study Finds Tax Credits Create 21,000 Jobs
Wisconsin's manufacturing and agriculture tax credit accounted for almost 21,000 new manufacturing jobs since implementation started in 2013, according to a new study from University of Wisconsin-Madison Professor Noah Williams. The study also concluded the tax credit accounted for 42,000 total jobs.

Scaling Back State Historic Tax Credit Would be bad for WI
If the state Legislature this summer approves Gov. Scott Walker's budget recommendation to limit the state's historic tax credit program to $10 million annually, neglect could soon become the norm for a larger chunk of Wisconsin's historic properties. The program currently does not have a limit.

Upcoming Events

Intro Food Systems Finance WebCourse
June 7 - 8, 2017 - Daily: 12:00 - 5:00 PM Eastern
The Intro Food Systems Finance WebCourse examines the development finance programs that sustain a local food system and how investments in that system can drive economic development on a broader scale. Topics covered include federal, state, and local sources of capital, stakeholders involved in the financing process, and case study examples that showcase the variety of financing programs.

Best of the Best Guidance on NMTC Applications
May 24, 2017 - 1:00 PM - 2:30 PM Eastern
This year's allocation of New Markets Tax Credits is now open for applications, and CDFA is here to help guide you through the process before the June 21st deadline. Tune into this webinar to hear a panel of expert speakers discuss the tips and tricks that they have learned through many years of working with this program. We'll review basic application instructions and consider elements of previously successful applications along with an interactive Q&A between the panel and participants. Don't miss this opportunity to hear the insiders' perspectives before you submit your application.

Wisconsin News

Freshwater Plaza in Milwaukee, WI Finalizing Commercial Leases
Milwaukee Independent | May. 1 | Brownfield Financing

The Surprisingly Short List of Cities Experiencing Inclusive Growth
Brookings | Apr. 27 | Economic Development

$215K WI Tax Credits Support DuraTech Expansion
Area Development | Apr. 20 | Tax Credits

West Bend Officials Expand Eligibility for RLF
gmtoday | Apr. 14 | Revolving Loan Funds (RLFs)

After Long Delay, Developer Moving to Restart Royster Corners Project
Wisconsin State Journal | Apr. 12 | Brownfield Financing | Tax Increment Finance (TIF)


New Additions to the Online Resource Database

The Impact of the Manufacturing and Agricultural Credit in WI
Tax Credits
In 2011 Wisconsin adopted the Manufacturing and Agriculture Credit (MAC), which provides credits which largely offset the taxes faced by businesses in those sectors in the state. While manufacturing employment has grown since the MAC took effect in 2013, how much of these gains were due to the credit is under debate.


Sponsor

Premium Sponsor

Wisconsin Health and Educational Faciltities Authority

For information about sponsoring the Wisconsin Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.


The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net


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