The Wisconsin Economic Development Corporation supports entrepreneurs and new businesses through numerous programs, including the Qualified New Business Venture Program and the SBIR Advance Program. New data released in the WEDC’s Entrepreneurship and Innovation Report for 2021 shows the millions of dollars being invested in Wisconsin businesses are having a measurable impact.
The Entrepreneurship and Innovation Report gathered data from 814 Wisconsin companies that had an active reward or received support from the WEDC in the last three years. That data shows increased funding, revenue and employment.
The total new financing and revenue from companies in 2021 saw a 41% increase over 2020, coming in at $1.25 billion. The number of jobs saw a 52% increase to 6,772 full and part-time positions while payroll saw a 25% increase to over $204 million. In total, the businesses that took part in the survey generated $1.26 billion in new capital.