WEDC move points up need to diversify business tax credits

In Wisconsin as in every state, the public economic development toolbox includes an assortment of hammers, screwdrivers, pliers and wrenches.

Knowing what tool to use can be the tricky part, especially when it comes to building the right “home” for startups and emerging companies.

The ongoing debate over choosing the right tools for the job was on display last week when the Legislature’s Joint Finance Committee voted 11-4 to approve a request by the Wisconsin Economic Development Corp. to reallocate $8 million from the state’s Early Stage Tax Credit program to its Business Development Tax Credit sleeve. Republican members of the budget committee voted for it; Democrats voted against it.

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Ken Notes: Tom has a lot of knowledge here and makes excellent observations. My problem remains -- that finding the right tool in the box can be difficult for ED professionals in the field. WEDC has to reorganize and bring these professionals under the tent. We remain a "who knows who" State and those outside the loop are lost. Many great companies with great ideas never get off the ground...