The Senate Committee on Economic and Workforce Development held a public hearing on the appointments of Melissa Hughes as Chief Executive Officer of the Wisconsin Economic Development Corporation and Amy Pechacek as Secretary of the Department of Workforce Development.
Committee Chair, Senator Dan Feyen (R-Fond du Lac) asked Hughes how the state budget proposal of $100 million in venture capital funding could be used. Hughes highlighted that 85% of the venture capital exists in San Francisco, Boston, and New York, and the remaining 15% is what Wisconsin and the rest of the country is fighting to obtain. This funding resource would aid Wisconsin entrepreneurs as they endeavor in their business pursuits.
Later in the hearing, Sen. Feyen asked Pechacek how the department was doing on the 2021 Act 4 deadlines set to address Unemployment modernization which Pechacek confirmed that they were on track.
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Click here to watch the segment related to the $100 million fund.
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