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Monday, June 05, 2023

Walker outlines plans for economic development

Gov. Scott Walker announced plans Thursday to significantly invest in start-up businesses along with other long-term initiatives to promote economic growth in Wisconsin.

At the Governor’s Conference of Economic Development, the governor proposed to allot an extra $75 million toward the Economic Development Tax Credit Program in his biennial budget, which he said would support state businesses to make investments as well as to create and sustain jobs.

Additionally, Walker stated the importance of promoting start-up and emerging businesses in Wisconsin “because that’s where a lot of the growth is going to be, in the state and throughout the country.”

He proposed to allot funding to groups that would provide guidance to entrepreneurs’ emerging companies, such as assisting them with business planning and networking.

“One of the things I hear consistently is the need and assistance not to be the full funding source, but to bridge the gap,” Walker said. “To the extent we can help bridge that gap, the better.”

Regarding education, Walker said Wisconsin could be the place employers look to expand if “we are the state that can guarantee a steady supply of high quality, well-educated [and] well-prepared employees.”

In order to do this, he said the state should not only financially support “short-term” education, such as technical colleges and the UW System programs, but also invest in K-12 public education reform.

Other long-term initiatives the governor discussed involved public transportation and marketing the state for tourism purposes.

Walker said he plans to announce full details of his biennial budget Feb. 20.

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