560.60(2)
(2) "Business" means a company located in this state, a company which has made a firm commitment to locate a facility in this state or a group of companies at least 80% of which are located in this state.
560.60(3m)
(3m) "Eligible activities" means any of the following:
560.60(3m)(d)
(d) Providing assistance to technology-based businesses or to businesses at a foreign trade show or event.
560.60(3m)(e)
(e) Promoting urban or regional economic development.
560.60(3m)(h)
(h) Promoting employee ownership through all of the following:
560.60(3m)(h)1.
1. Conducting feasibility studies to investigate the reorganization or new incorporation of existing businesses as employee-owned businesses.
560.60(4)
(4) "Eligible recipient" means a governing body or a person who is eligible to receive a grant or loan under
s. 560.61.
560.60(6)
(6) "Governing body" means a county board, city council, village board, town board, regional planning commission or transit commission under
s. 59.58 (2) or
66.1021.
560.60(14)
(14) "Project" means a business development that increases the productivity of a business or its employees in this state, leads to significant capital investment in a business in this state, leads to the retention of existing jobs in this state or creates new jobs in this state.
560.60(15)
(15) "Small business" means a business with fewer than 100 employees, including employees of any subsidiary or affiliated organization.
560.602
560.602
Policies and standards for awarding grants and loans. The department, with the approval of the board, shall promulgate rules to establish policies and standards for awarding grants and loans under this subchapter. The rules shall include all of the following:
560.602(1)
(1) A statement of the department's economic development policy that is consistent and coordinated with economic development policies expressed in the statutes and established by other state agencies.
560.602(5)
(5) Provisions for the development of a biennial plan for awarding grants and loans under this subchapter, before the commencement of each odd-numbered fiscal year, and for the submission of the biennial plan to the governor and the chief clerk of each house of the legislature for distribution to the appropriate standing committees under
s. 13.172 (3).
560.602 History
History: 1991 a. 269.
560.605
560.605
Grant and loan criteria; generally. 560.605(1)
(1) Upon receipt of an application by an eligible recipient, the board may consider any of the following in determining whether to award a grant or loan under
s. 560.61:
560.605(1)(b)
(b) Whether the project will retain or increase employment in this state.
560.605(1)(c)
(c) Whether the project might not occur without the grant or loan.
560.605(1)(d)
(d) Whether financing is available from another source on reasonably equivalent terms.
560.605(1)(e)
(e) The extent to which the project will be financed with funds not provided by this state.
560.605(1)(g)
(g) Whether funds from the grant or loan will be used to pay overhead costs or to replace funds from another source.
560.605(1)(h)
(h) Whether the project will displace workers in this state.
560.605(1)(j)
(j) The extent to which the project will retain or increase employment in this state.
560.605(1)(k)
(k) The extent to which the project will contribute to the economic growth of this state and the well-being of the residents of this state.
560.605(1)(L)
(L) Whether the project will be located in an area of high unemployment or low average income.
560.605(1)(m)
(m) The financial soundness of the eligible recipient.
560.605(1)(n)
(n) The intention of the eligible recipient to repay the grant or loan.
560.605(1)(o)
(o) Whether the project will be located in a targeted area.
560.605(1)(p)
(p) For an ethanol production facility on which construction begins after July 27, 2005, whether a competitive bidding process is used for the construction of the ethanol production facility.
560.605(2m)
(2m) When considering whether a project will be located in a targeted area, the board may consider any of the following:
560.605(2m)(b)
(b) Whether the area has a low median household income.
560.605(2m)(f)
(f) Whether a significant number of workers in the area have been permanently laid off by their employers or whether public notice has been given by an employer of either a plant closing or a substantial reduction in work force that will result in a significant number of workers in the area being laid off permanently.
560.605(2m)(g)
(g) Whether the area is designated as a development zone under
s. 560.71 or as an enterprise development zone under
s. 560.797.
560.605(2m)(h)
(h) Any other factor the board considers to be an appropriate indicator of a targeted area.
560.605(7)
(7) The board shall award not less than 35 percent of the total amount of grants and loans made under this subchapter to businesses in distressed areas. In this paragraph, "distressed area" means an area to which any of the following apply:
560.605(7)(c)
(c) A significant number of workers in the area have been permanently laid off.
560.605(7)(d)
(d) An employer in the area has given public notice of a plant closing or a substantial reduction in force that will result in a significant number of workers in the area being permanently laid off.
560.605(7)(e)
(e) The area is designated as a development zone under
s. 560.71 or an enterprise development zone under
s. 560.797.
560.605(7)(f)
(f) As determined by the board, the area is affected by another factor that indicates the area is a distressed area.
560.607
560.607
Miscellaneous and administrative expenditures. In each biennium, the department may expend or encumber up to a total of 1% of the moneys appropriated under
s. 20.143 (1) (c) for that biennium for any of the following:
560.607(1)
(1) Evaluations of proposed technical research projects.
560.607(3)
(3) Evaluation costs, collection costs, foreclosure costs and other costs associated with administering the loan portfolio under this subchapter, excluding staff salaries.
560.607 History
History: 1999 a. 9 ss.
2993,
2996;
2007 a. 20,
125.
560.61
560.61
Wisconsin development fund. At the request of the board, the department may make a grant or loan to an eligible recipient from the appropriations under
s. 20.143 (1) (c) and
(ie).
560.68(1m)(1m) The department shall establish criteria for the award of grants and loans under
s. 560.61, including the types of projects that are eligible for funding and the types of eligible projects that will receive priority.
560.68(2)
(2) The department, in cooperation with the board, shall actively encourage small businesses to apply for grants and loans under this subchapter by ensuring that there are no undue impediments to their participation and by assisting small businesses in preparing grant and loan applications.
560.68(2m)
(2m) The department shall determine conditions applicable to a grant or loan under
s. 560.61.
560.68(3)
(3) The department may charge a grant or loan recipient an origination fee of not more than 2% of the grant or loan amount if the grant or loan equals or exceeds $200,000. The department shall deposit all origination fees collected under this subsection in the appropriation account under
s. 20.143 (1) (gm).
560.68(4)
(4) The board shall develop a policy relating to obtaining reimbursement of grants and loans provided under this subchapter. The policy may provide that reimbursement shall be obtained through full repayment of the principal amount of the grant or loan plus interest, through receipt of a share of future profits from or an interest in a product or process, or through any other appropriate means.
560.68(5)
(5) The department, with the approval of the board, shall develop procedures related to grants and loans under
s. 560.61 for all of the following:
560.68(5)(a)
(a) Submitting applications for grants and loans.
560.68(5m)
(5m) The department, with the approval of the board, shall establish and implement procedures for monitoring the use of grants and loans awarded under this subchapter, including procedures for verification of economic growth, job creation and the number and percentage of newly created jobs for which state residents are hired.
560.68(6)
(6) The board shall require, as a condition of a grant or loan, that a recipient contribute to a project an amount that is not less than 25% of the amount of the grant or loan.
560.68(7)
(7) The department, in cooperation with the board, shall encourage small businesses to apply for grants and loans under this subchapter by ensuring that there are no undue impediments to their participation and by actively encouraging small businesses to apply for grants and loans. The department shall do all of the following:
560.68(7)(a)
(a) Publish and disseminate information about projects that may be funded by a grant or loan under
s. 560.61 and about procedures for applying for grants and loans under
s. 560.61.
560.68(7)(b)
(b) Simplify the application and review procedures for small businesses so that they will not impose unnecessary administrative burdens on small businesses.
560.68(7)(c)
(c) Assist small businesses in preparing applications for grants and loans.
560.685
560.685
Rules. The department may not promulgate a rule under this subchapter without first considering the recommendations of the board regarding the proposed rule.
560.685 History
History: 1987 a. 27.
DEVELOPMENT ZONE PROGRAM
Subch. VI of ch. 560 Cross-reference
Cross Reference: See also s.
Comm 112.01, Wis. adm. code.
560.70(1)
(1) "Business incubator" means a person who operates a facility designed to encourage the growth of new businesses, if at least 2 of the following apply:
560.70(1)(a)
(a) Space in the facility is rented at a rate lower than the market rate in the community.
560.70(1)(b)
(b) Shared business services are provided in the facility.
560.70(1)(c)
(c) Management and technical assistance are available at the facility.
560.70(1)(d)
(d) Businesses using the facility may obtain financial capital through a direct relationship with at least one financial institution.
560.70(2)
(2) "Development zone program" means the program administered under this subchapter.
560.70(2m)
(2m) "Full-time job" means a regular, nonseasonal full-time position in which an individual, as a condition of employment, is required to work at least 2,080 hours per year, including paid leave and holidays, and for which the individual receives pay that is equal to at least 150% of the federal minimum wage and benefits that are not required by federal or state law. "Full-time job" does not include initial training before an employment position begins.
