560.16(6)(a)1.
1. An assessment of the market value and demand for any product produced by the existing business.
560.16(6)(a)2.
2. A complete evaluation of the production costs of the existing business, including, but not limited to, labor, inventory, machinery and equipment, and the application of new technology.
560.16(6)(a)3.
3. A verified statement of the financial condition and business operation of the existing business for the previous 3 years, certified by an independent public accountant.
560.16(6)(a)4.
4. A full narrative appraisal of the fair market value of the assets of the existing business by a disinterested and qualified appraiser using all 3 commonly accepted appraisal methods.
560.16(6)(a)5.
5. A comprehensive projected business plan of the proposed employe-owned business, including the proposed organizational structure and ownership arrangements.
560.16(6)(a)6.
6. The number and type of jobs to be created or preserved by the proposed employe-owned business at its start-up and for each of the 3 subsequent years.
560.16(6)(a)7.
7. An analysis of the reasons for the closing or considered closing of the existing business.
560.16(6)(a)8.
8. A plan for implementing the feasibility study, if the study concludes that reorganization or new incorporation of the existing business as an employe-owned business is feasible.
560.16(6)(b)
(b) The results of a feasibility study of an existing business financed by a loan under
sub. (2) (a) shall be solely for the use of the group which received the loan, except that if the group's bid to purchase the business has been withdrawn, rejected or terminated, the group shall submit a copy of the study and the results of any professional services financed by the loan to the board and the board may provide a copy of such results to any person seeking to purchase the existing business.
560.167
560.167
Wisconsin trade project program. 560.167(1)(a)
(a) "Eligible business" means a business operating in this state that manufactures a product or performs a service, or both, with a potential to be exported and that, together with all of its affiliates and subsidiaries and its parent company, had gross annual sales of $25,000,000 or less in the calendar year preceding the year in which it applies for a reimbursement under this section.
560.167(1)(b)
(b) "Matchmaker trade delegation event" means a trade event that is planned by the U.S. department of commerce and that has prearranged meetings between new-to-market or new-to-export eligible businesses and prospective foreign representatives and distributors.
560.167(1)(c)
(c) "Trade show" means a trade event held in a country other than the United States that brings prospective foreign buyers to a central location and that is certified or coordinated by the U.S. department of commerce or the department.
560.167(2)
(2) Subject to
sub. (5), the department may make reimbursements totaling no more than $100,000 in a fiscal year from the appropriations under
s. 20.143 (1) (c) and
(ie) to eligible businesses for any of the following:
560.167(2)(a)
(a) Fees for participation in a trade show or matchmaker trade delegation event.
560.167(2)(b)
(b) Costs associated with shipping displays, sample products, catalogs or advertising material to a trade show or matchmaker trade delegation event.
560.167(2)(c)
(c) Costs incurred at a trade show or matchmaker trade delegation event for utilities, booth construction or necessary modifications or repairs.
560.167(2)(d)
(d) Costs associated with foreign language translation of brochures or product information or with the use of translation services at a trade show or matchmaker trade delegation event.
560.167(3)
(3) An eligible business seeking reimbursement under this section shall submit to the department an application containing all of the following:
560.167(3)(a)
(a) An export development plan and a description of how the activities for which reimbursement is sought will benefit the applicant's ability to export its product or service.
560.167(3)(b)
(b) An itemized budget for expenses expected to be incurred for all of the activities for which reimbursement is sought.
560.167(3)(c)
(c) A description of the proposed use of the reimbursement.
560.167(3)(d)
(d) Assurance that at least 50% of the manufactured value of the product or of the performance value of the service will be produced in this state.
560.167(4)(a)(a) The department may approve an eligible business for reimbursement after considering all of the following:
560.167(4)(a)1.
1. The extent to which the business' export development plan demonstrates the potential of the product or service to be exported in a particular foreign market.
560.167(4)(a)2.
2. The extent to which the business' proposed reimbursable activities relate to the potential success of the product or service to be exported.
560.167(4)(b)
(b) The department shall give priority for reimbursements under this section to eligible businesses participating in the department's export mentoring program.
560.167(5)
(5) The department may not do any of the following:
560.167(5)(a)
(a) Reimburse an eligible business more than $5,000 in a 12-month period.
560.167(5)(b)
(b) Reimburse an eligible business more than $5,000 for participation in a trade show or matchmaker trade delegation event.
560.167(5)(c)
(c) Reimburse an eligible business for participating more than one time in the same trade show or matchmaker trade delegation event held at different times or in different locations.
560.167(5)(d)
(d) Reimburse an eligible business more than $15,000 over the life of the program.
560.167(6)
(6) An eligible business that is approved for a reimbursement under
sub. (4) shall provide to the department, within 90 days after the trade show or matchmaker trade delegation event for which the reimbursement is sought, documentation detailing the costs for which the reimbursement is sought.
560.167 History
History: 1995 a. 27 560.17
560.17
Rural economic development program. 560.17(1)(a)
(a) "Board" means the rural economic development board.
560.17(1)(c)
(c) "Professional services" includes all of the following:
560.17(1)(c)1.
1. Preparation of preliminary feasibility studies, feasibility studies or business and financial plans.
560.17(1)(c)3.
3. Engineering studies, appraisals or marketing assistance.
560.17(1)(d)
(d) "Rural municipality" means any of the following:
560.17(1)(d)1.
1. A city, town or village that is located in a county with a population density of less than 150 persons per square mile.
560.17(1)(d)2.
2. A city, town or village with a population of 4,000 or less.
560.17(2)(a)(a) At the request of the board, the department shall make a grant or loan to a business to which the board has awarded a grant or loan under this section.
560.17(3)
(3) The board may award a grant or loan under this subsection to a business if all of the following apply:
560.17(3)(a)
(a) The amount of the grant or loan does not exceed $30,000.
560.17(3)(b)
(b) The business, together with any affiliate, subsidiary or parent entity, has fewer than 25 employes.
560.17(3)(c)
(c) The business is located in a rural municipality.
560.17(3)(d)
(d) The business is starting or expanding its operations.
560.17(3)(e)
(e) The proceeds of the grant or loan will be used by the business as provided in
sub. (5).
560.17(4)
(4) Before awarding a grant or loan under
sub. (3), the board shall consider all of the following:
560.17(4)(a)
(a) The extent to which the start-up or expansion of the business will create new jobs.
560.17(4)(b)
(b) The economic condition of the rural municipality.
560.17(4)(c)
(c) The number of new jobs created by the business in relation to the amount of the grant or loan.
560.17(4)(d)
(d) The degree to which the new or expanded operations of the business will provide beneficial services to the rural municipality where it is located.
560.17(4)(e)
(e) Whether financing is available from other sources.
560.17(4)(f)
(f) Whether the business would be able to start or expand its operations without a grant or loan.
560.17(5)
(5) A business shall use the proceeds of a grant or loan under
sub. (3) to pay for any of the following:
560.17(5)(a)
(a) Professional services related to starting or expanding the business.
560.17(5)(b)
(b) Management assistance continuing after the start-up or expansion.
560.17(5m)(a)(a) Subject to
par. (c), the board may award a loan under this subsection that does not exceed $25,000 to a business if all of the following apply:
560.17(5m)(a)1.
1. The business, together with any affiliate, subsidiary or parent entity, has fewer than 25 employes.
560.17(5m)(a)4.
4. The business received a grant or loan under
sub. (3) and with the proceeds successfully demonstrated its feasibility.
560.17(5m)(a)5.
5. Financing is unavailable from any other source on reasonably equivalent terms.
560.17(5m)(b)
(b) A business shall use the proceeds of a loan under this subsection for any of the following:
560.17(5m)(bm)
(bm) If a business receives a loan under this subsection for the purpose specified in
par. (b) 3., the department shall ensure that an employe of the business has the option of accepting or declining any relocation assistance that is available as a result of the loan.
560.17(5m)(c)
(c) In any fiscal biennium, the board may not award more than 20% of the sum of the funds appropriated for the fiscal biennium under
s. 20.143 (1) (er) and
(ir) for loans under this subsection.
560.17(6)
(6) Before awarding a loan under this section, the board shall do all of the following:
560.17(6)(a)
(a) Determine the terms for repayment of the principal amount of the loan.
560.17(6)(c)
(c) Establish all other terms and conditions of the loan after considering the circumstances of the particular business.
560.17(6m)
(6m) The board may require that in order to receive a grant or loan under this section a business contribute from a source other than the state a portion of the cost of the project for which the business is applying for a grant or loan. The contribution may be in cash or in kind. The board shall determine what services or materials may be used as in-kind contributions.
560.17(7)(a)(a) The department shall designate staff to evaluate applications for grants or loans and assist the board under this section. The board shall act on an application for a grant or loan at its next regularly scheduled meeting after the department determines that the application is complete.
560.17(7)(b)
(b) The board or department shall deposit all interest or principal payments received for loans made under this section in the appropriation under
s. 20.143 (1) (ir).
