On Monday, the Joint Finance Committee voted 11-4 to approve the request by the Wisconsin Economic Development Corporation (WEDC) to reallocate $8 million in early stage tax credits to the Business Development Tax Credit program. The 2015-17 Biennial Budget allocation of $17 million in Business Development Tax Credits for calendar year 2016 is set to run out at the start of July. Read the memos from Mark Hogan, CEO and Secretary of the WEDC, to the Joint Committee on Finance here and here. See below for news coverage on the voting and awarding of the Business Development Tax Credits:
JSOnline: Legislative committee approves moving $8 million out of start-up program
WisBusiness: Dems slam WEDC request to reallocate early stage tax credits
State Journal: Budget committee allows WEDC to make $8 million in tax credits refundable
JSOnline: WEDC awards up to $750,000 of tax credits to American Packaging Corp
WEDC: American Packaging Corporation Building New Facility in DeForest
Madison.com: American Packaging Corp. to build DeForest plant with help from TIF, WEDC tax credits
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