560.14(3)(a)1.
1. The operation of an existing business incubator or technology-based incubator.
560.14(3)(a)2.
2. Technical assistance in the process of starting a business incubator or technology-based incubator, including a feasibility study of the need for and the initial design of the incubator.
560.14(3)(a)3.
3. Starting, expanding or rehabilitating a business incubator or technology-based incubator.
560.14(3)(a)4.
4. The creation of a revolving loan fund for tenants of a business incubator or technology-based incubator.
560.14(3)(b)
(b) The department may not make a grant under this subsection unless all of the following apply:
560.14(3)(b)3.
3. The total amount of grants under this subsection to a community-based organization do not exceed 50% of the total cost of the project for which the grants are made, unless the department determines that the area where the funds will be used is in extreme financial hardship. The department may consider in-kind contributions when determining the total cost of a project under this subdivision.
560.14(3)(b)5.
5. The community-based organization receiving the grant provides a written policy relating to how stable, maturing businesses in the business incubator or technology-based incubator will establish themselves outside of the incubator within a reasonable period of time.
560.14(3)(c)
(c) In making a grant under this subsection, the department shall consider all of the following:
560.14(3)(c)1.
1. The potential of the business incubator or technology-based incubator to help start businesses.
560.14(3)(c)2.
2. The potential of the business incubator or technology-based incubator to provide employment opportunities.
560.14(3)(c)3.
3. How the unemployment rate in the area in which the business incubator or technology-based incubator is or will be located compares to the state average.
560.14(3)(c)4.
4. How the household income levels of persons residing in the area in which the business incubator or technology-based incubator is or will be located compare to the applicable median household income.
560.14(3)(c)5.
5. How the assessed value of real property in the most recent assessment in the area in which the business incubator or technology-based incubator is or will be located compares to the assessed value of that property in the assessment 2 years before the most recent assessment.
560.14(3)(c)6.
6. How the percentage of households receiving aid to families with dependent children under
s. 49.19 in the area in which the business incubator or technology-based incubator is or will be located compares to the percentage of households receiving aid to families with dependent children in the state.
560.14(3)(c)7.
7. The percentage of members of the workforce in a city, village or town in the area in which the business incubator or technology-based incubator is or will be located that were permanently laid off by their employer in the 18 months immediately preceding the application.
560.14(3)(c)8.
8. Whether the business incubator or technology-based incubator is or will be located in an area that has been designated as a development zone under
s. 560.71, a development opportunity zone under
s. 560.795 or an enterprise development zone under
s. 560.797.
560.14(3)(d)1.1. The proceeds of a grant under
par. (a) 1. or
3. may be used to defray salaries, fringe benefits and other personnel, administrative and operating costs of the business incubator or technology-based incubator.
560.14(3)(d)2.
2. The proceeds of a grant under
par. (a) 2. or
3. may be used to fund those salaries, fringe benefits and other personnel, administrative and operating costs of the community-based organization that are directly related to starting, expanding or rehabilitating a business incubator or technology-based incubator.
560.14(3)(e)
(e) Grants under this subsection may not exceed whichever of the following applies:
560.14(3)(f)
(f) The department may not do any of the following:
560.14(3)(f)1.
1. Make grants under
par. (a) 1. to fund the operation of a particular business incubator or technology-based incubator in more than 5 years.
560.14(3)(f)2.
2. Make more than 2 grants under
par. (a) 2. for a particular business incubator or technology-based incubator.
560.14(3)(f)3.
3. Make more than 2 grants under
par. (a) 3. for a particular business incubator or technology-based incubator.
560.14(3)(f)4.
4. Make more than 2 grants under
par. (a) 4. for a particular business incubator or technology-based incubator.
560.14(3m)
(3m) The department may make a grant from the appropriation under
s. 20.143 (1) (fg) to a community-based organization for the purpose of creating a revolving loan fund for making loans to small businesses. The department shall promulgate rules for the administration of the program under this subsection.
560.14(3r)(a)(a) The department may make a grant from the appropriation under
s. 20.143 (1) (fg) to a private, nonprofit foundation, including the National Foundation for Teaching Entrepreneurship to Handicapped and Disadvantaged Youth, or other private, nonprofit organizations if all of the following apply:
560.14(3r)(a)1.
1. The foundation or organization teaches business skills to economically disadvantaged or socially at-risk children.
560.14(3r)(a)2.
2. The grant proceeds will be used for costs associated with teaching the skills and developing the knowledge necessary to start and maintain a business enterprise.
560.14(3r)(b)
(b) The department shall promulgate rules for the administration of the program under this subsection.
560.14(4)
(4) The department may make a grant under this subsection from the appropriation under
s. 20.143 (1) (fg) to a community-based organization for regional economic development activity if all of the following apply:
560.14(4)(a)
(a) A political subdivision in the region in which the economic development activity will be conducted joins in the application for the grant with the community-based organization.
560.14(4)(b)
(b) The economic development activity is unique to or within the region.
560.14(4)(c)
(c) The economic development activity is consistent with any economic development policy or plan of the political subdivision.
560.14(4)(d)
(d) The economic development activity will likely stimulate investment in the region's economy or create or retain jobs in the region.
560.14(4)(e)
(e) The community-based organization will receive contributions from private sources and from political subdivisions in the region for the economic development activity. The contributions may be in cash or in kind.
560.14(4)(f)
(f) The applicants submit a plan that describes the economic development activity, how the economic development activity satisfies the criteria under this subsection, how the grant will be administered and how the grant proceeds will be used to support the economic development activity; and the secretary approves the plan.
560.14(4)(g)
(g) The applicants provide documentation of the contributions required under
par. (e).
560.14(4m)(a)(a) Subject to
par. (b), the department may make a grant under this subsection from the appropriation under
s. 20.143 (1) (fg) to a community-based organization or private nonprofit organization for a venture capital development conference if all of the following apply:
560.14(4m)(a)1.
1. The conference will assist entrepreneurs or businesses in the state in obtaining capital for the start-up or development of a business.
560.14(4m)(a)2.
2. The conference will likely stimulate investment, promote economic development or create or retain jobs in the state.
560.14(4m)(a)3.
3. The grant applicant submits a plan that describes the proposed activity, how the activity satisfies the criteria under this paragraph, how the grant will be administered, how the grant proceeds will be used to support the activity and how the activity will be coordinated with other venture capital development conferences or programs, including any conferences or programs of the department.
560.14(4m)(a)5.
5. The grant applicant funds at least 50% of the total cost of the conference by providing cash or in-kind contributions.
560.14(4m)(b)
(b) The department may not award more than $75,000 in grants under this subsection in any fiscal year.
560.14(5)
(5) The department shall do all of the following:
560.14(5)(a)
(a) Develop an application to be used for grants under this section and furnish the application to applicants upon request.
560.14(5)(b)
(b) Subject to
par. (d), promulgate rules to develop criteria for evaluating applications for grants under this section.
560.14(5)(bm)
(bm) Promulgate rules with respect to how the department will administer the grants under this section.
560.14(5)(c)
(c) Consistent with
subs. (2) to
(4m), award grants under this section on a competitive basis, using the criteria developed under
par. (b).
560.14(5)(d)
(d) Give priority for grants under this section for projects related to brownfields redevelopment.
560.145
560.145
Revolving loan fund capitalization. 560.145(1)(1)
Grants. Subject to
sub. (3), the department may make a grant to a person from the appropriation under
s. 20.143 (1) (c) for the capitalization of a revolving loan fund if all of the following apply:
560.145(1)(a)
(a) The purpose of the revolving loan fund is to promote local or regional economic development.
560.145(1)(b)
(b) The person submits a plan to the department detailing the proposed use of the grant and the secretary approves the plan.
560.145(1)(c)
(c) The person enters into a written agreement with the department that specifies the conditions for use of the grant proceeds, including reporting and auditing requirements.
560.145(1)(d)
(d) The person agrees in writing to submit to the department the report required under
sub. (2) by the time required under
sub. (2).
560.145(2)
(2) Report on use of proceeds. A person receiving a grant under this section shall submit to the department, within 6 months after spending the full amount of the grant, a report detailing how the grant proceeds were used.
560.145(3)
(3) Limit on grants. The department may not award in a fiscal biennium more than $500,000 in grants under this section.
560.145 History
History: 1997 a. 237.
560.147
560.147
Rapid response fund. 560.147(1)(1)
Loans. Subject to
sub. (4), the department may make a loan to a person from the appropriations under
s. 20.143 (1) (c) and
(ie) for a project described in
sub. (2) if all of the following apply:
560.147(1)(a)
(a) The person submits a plan to the department detailing the proposed use of the loan and the secretary approves the plan.
560.147(1)(b)
(b) The person enters into a written agreement with the department that specifies the conditions for use of the loan proceeds, including reporting and auditing requirements, and the loan repayment terms.
560.147(1)(c)
(c) The person agrees in writing to submit to the department the report required under
sub. (3) by the time required under
sub. (3).
560.147(1)(d)
(d) The person contributes, from funds not provided by the state, not less than 25% of the cost of the project.
560.147(1)(e)
(e) The amount that the person contributes under
par. (d) does not exceed $250,000.
560.147(2)(a)(a) Loans under this section may be used only for any of the following purposes:
560.147(2)(a)2.
2. The purchase of land, an existing building, machinery or equipment.
560.147(2)(b)
(b) The purpose of the renovation, purchase or construction under
par. (a) must be to foster economic development in the area of the project.
560.147(3)
(3) Report on use of proceeds. A person receiving a loan under this section shall submit to the department, within 6 months after spending the full amount of the loan, a report detailing how the loan proceeds were used.
560.147(4)
(4) Limit on loans. The department may not award in a fiscal biennium more than $2,000,000 in loans under this section.
560.147(5)
(5) Deposit of repayments. The department shall deposit in the appropriation account under
s. 20.143 (1) (ie) all moneys received in repayment of loans under this section.
560.147 History
History: 1997 a. 237.
560.15
560.15
Economic adjustment program. 560.15(1)
(1) The department, with the advice and assistance of the community response committees created under
sub. (3), and in cooperation with the department of workforce development, shall perform the responsibilities under
sub. (2) if the following conditions are met:
560.15(1)(a)
(a) A business, regardless of its size or form of organization, is considering ceasing its operations or has decided to cease its operations or has ceased its operations at any place of business located in this state; is considering laying off or has decided to lay off or has laid off, whether permanently or temporarily, any of its employees at any place of business located in this state.
560.15(1)(b)
(b) The department has received notification of an act by a business under
par. (a) from any of the following:
