Wisc. Governor Unveils Plan to Grow State's Economy

Gov. Jim Doyle last week unveiled his plan to jumpstart the Wisconsin economy. The plan, "Grow Wisconsin," calls for a series of executive actions, private sector partnerships and legislative steps to create high-wage jobs and achieve other goals. Some of the tech-based economic development items outlined in "Grow Wisconsin" are:

• A new Manufacturing Competitiveness Program. The governor proposes $10 million to the Department of Commerce – leveraged with other private funding and existing resources from the University of Wisconsin System, the Wisconsin Technical College System, the Milwaukee School of Engineering, and the Manufacturing Extension Partnerships – to provide grants to 50 manufacturers to improve their productivity through training, consulting and application of technology. Gov. Doyle also will convene a Manufacturing Summit later this year.
• Creation of a $300 million fund to invest in venture capital. Gov. Doyle proposes to leverage a minimum of $300 million over the next decade to invest in seed and early-stage companies. To accomplish this, the governor proposes creating a new state authority managed by experienced investment professionals. The authority would be funded annually over the next 10 years with $10 million from the state, $10 million from the Patients Compensation Fund (PCF), and a request to the State of Wisconsin Investment Board (SWIB) for $10 million. The PCF and SWIB investments will be made with the intent of providing market returns for their respective beneficiaries.
• Enhancement of Wisconsin’s Technology Zone Tax Credits. The governor is supporting legislative changes that will increase investment in technology businesses by over $38 million. Additionally, the governor proposes making these tax credits refundable to help start-up companies that do not yet have profits.
• Community and Enterprise Development Zone Credits reformation. The governor will propose legislation to enable deployment of $60 million of existing tax credits. The proposal will eliminate the caps on the number of Enterprise Development Zone and Community Development Zone tax credits.
• A new program to commercialize research. Gov. Doyle is proposing a new $5 million initiative to provide technical assistance, matching grants and bridge grants that will help researchers win federal funding and turn scientific discoveries into jobs.
• Greater investment in job training. The Department of Workforce Development will target $1.5 million to upgrade the skills of employees in the manufacturing sector. These funds will be matched with Customized Labor Training grants from the Department of Commerce to cover 100 percent of the total training costs up to $5,000 per employee. The governor also will take steps to target federal job training dollars on high-wage industries and those with urgent needs.
• Accelerated broadband deployment. This fall, Gov. Doyle intends to convene a meeting of advanced telecommunications service providers in Wisconsin to chart the course the state will follow to achieve this goal. The governor also is directing the Public Service Commission to conduct the first ever statewide, comprehensive review of advanced telecommunications services in Wisconsin to provide the foundation for this effort.

In addition, Gov. Doyle is calling for the foundation that received millions from the sale of Cobalt Corp., parent of the Blue Cross and Blue Shield plan in Wisconsin, to deploy at least $100 million for biomedical and life science research. The "Grow Wisconsin" initiative is available in its entirety at: http://www.wisgov.state.wi.us/