WEDC Brings Back Entrepreneurship Support Program
The state agency said it is accepting applications from nonprofits and community-based organizations that need funding to implement projects or activities that advance entrepreneurship and provide entrepreneurs with the resources they need. Parties can apply for grant amounts of $10,000 to $100,000, with a total of $500,000 available through the program.
Fresh From an Upgrade, WI Boosts Bond Authority
The Wisconsin Building Commission has approved more than $1 billion of new money and refunding general obligation bonding authority, the first state debt issues that should benefit from a new rating upgrade.
WI Development Organizations Teaming up to Tackle Workforce
In an initiative aimed at addressing Wisconsin's workforce development needs, all nine of the state's regional economic development organizations are teaming up to develop a statewide platform that directly connects local employers to students.
Historical Tax Credit Uncertainty Halts Redevelopment Projects in WI
Gov. Walker wants to put a $10 million cap on the credits and add a provision that would take way any credits promised to a developer if certain job requirements aren't met. Uncertainty has already halted two projects in Green Bay.
$34.4M WHEFA Bond Financing Supports New Clinic
Bond financing facilitated by WHEFA will help Franciscan Sisters of Christian Charity Sponsored Ministries, Inc. ("Franciscan") finance the building and implementing of a new 15,000 square-foot clinic in Two Rivers, Wisconsin, for Holy Family Memorial, Inc. Bond proceeds were also used to refinance bonds previously issued by WHEFA in 2007.
$11.1M Announced for WI Small Businesses
Governor Scott Walker has announced that the Wisconsin Housing and Economic Development Authority (WHEDA) will utilize two capital products to help small businesses expand through a new WHEDA fund and additional lending opportunities representing $11.1 million, which will provide new financing opportunities for the Transform Milwaukee area as well as statewide.
Assembly Lawmakers Pass $3B Tax Incentive Package for Foxconn
Lawmakers passed the legislation authored by Gov. Scott Walker 59-30, after the chamber's Republicans cheered it as a smart bet for taxpayers with massive upside for the state's economy and over Democrats' criticism that the deal is a gigantic gamble with state funds.
Madison, WI City Council Approves $1.6M for Cleanup at Garver Feed Mill
The Council approved an additional $1.6 million primarily for the environmental remediation and site restoration costs in addition to an already-budgeted $1.82 million grant to assist in financing the redevelopment. Baum Development's $19.8 million project would convert the former working feed mill into an artisan food production facility with up to 50 micro-lodging units on the surrounding five acres.
$57M WHEFA Bond Financing Supports Agnesian HealthCare
Bond financing facilitated by WHEFA will be used to help Agnesian HealthCare, Inc. ("Agnesian") finance the acquisition, construction, and equipping of a new replacement skilled nursing and assisted living facility in the Town of Chester, Wisconsin, on behalf of The Christian Home and Rehabilitation Center.
Analysis Shows WI Would Break Even on Foxconn Incentives in 25 Years
For the next 15 years, starting in 2017, the state would pay a total of $1.04 billion more than it takes in by having Foxconn in the state. Starting in fiscal year 2033-34, the state would take in about $115 million per year in increased tax collections, leading to a break-even point in 2042-43.