Gov. Tony Evers and U.S. Sen. Tammy Baldwin (D-Wisconsin) today announced Wisconsin will receive nearly $80 million to support entrepreneurs and small businesses throughout the state. Gov. Evers and U.S. Sen. Baldwin, joined by Wisconsin Economic Development Corporation (WEDC) Secretary and CEO Missy Hughes and Wisconsin Housing and Economic Development Authority (WHEDA) CEO and Executive Director Elmer Moore Jr., announced the new federal funding, which is available through the State Small Business Credit Initiative (SSBCI) under the Baldwin-supported American Rescue Plan Act.
“More than 99 percent of Wisconsin businesses are small businesses that employ nearly half of Wisconsin workers, and we know they’re more likely to hire locally, buy supplies locally, and reinvest locally back into our communities. One of our focuses in recovering from the pandemic has been ensuring our small businesses receive the resources needed to thrive,” said Gov. Evers. “We’ve helped fuel our economic recovery by harnessing the ingenuity and homegrown talent we already have right here in Wisconsin, investing over $1 billion into supporting our small businesses and Main Streets, affected industries, and local communities. These new SSBCI funds will enable us to continue building upon our successful efforts to create jobs and new opportunities in our communities and ensure we maintain our state’s economic momentum.”
“In Wisconsin, our small businesses and Main Street’s are the lifeblood of our communities and make our state the great place it is to live and raise a family,” said U.S. Sen. Baldwin. “But, many of our businesses struggle to expand their reach and need resources to grow and thrive. I was proud to vote for the American Rescue Plan to help Wisconsin’s small businesses reach more customers, entrepreneurs access the resources they need to get their businesses’ off the ground, and create good-paying jobs in all corners of the state.”