Gov. Scott Walker is proposing to let the Wisconsin Economic Development Corp. give out business loans again after the current budget phases out WEDC’s main loan program.
WEDC is still currently authorized to issue loans under its Business Opportunity Loan Fund, though that authority will go away in June under the 2015-17 budget.
Walker’s budget proposal would establish a loan program at WEDC and require the agency to use money it’s already recovered instead of pumping new state dollars into the program, giving WEDC officials “a real incentive to recoup” dollars it loans out, Walker said today.
But Joint Finance Committee co-chairs Sen. Alberta Darling and Rep. John Nygren said they’re waiting on Legislative Audit Bureau papers on the guv’s budget as well as feedback from WEDC to weigh in on the proposal.
Nygren, R-Marinette, said he looks forward to hearing WEDC “make the case for why this loan program is needed.”
And Darling, R-River Hills, noted it’s important to know how WEDC would be “responsible” and “accountable” with the loans, and added it’s necessary to review the LAB papers on the budget. Read the full story here.