Incentives for Economic Development

In addition to providing a positive regulatory climate and limiting the tax burden on business, government can do much to aid and direct economic development by establishing and supporting venture and seed capital funds, by assisting in technology transfer from the UW System to communities all around the state and by providing financial support to the most effective local economic development programs. Wisconsinmust continue to support regional economic development cooperation through programs like New North.  Other efforts deserving of continued support are: Wisconsin Economic Development Corporation, the local Business Assistance Center, Wisconsin Manufacturing Extension Program (WMEP), Job Advantage Training Grant Program, revolving loan funds, targeted development of local industry clusters, and further development of gaming as an important basis for local tourism with use of a portion of gaming compact dollars for equity investment and venture capital funds.  Repeal state and municipal prevailing wage legislation because it increases the cost of public works and other capital improvement projects.  Local governments should cooperate to provide leadership and incentives such as multijurisdictional TIF districts and economic development zones for redevelopment of suburban commercial areas like the Ashwaubenon Development District andMilitary Avenue.  Local governments must ensure that impact fees, building permit fees, inspection and connection fees reflect the actual cost of providing such services.  Local and state officials must work to secure our fair share of federal funding, especially infrastructure funds and defense procurement.