238.01(3)
(3) "Economic development program" means a program or activity having the primary purpose of encouraging the establishment and growth of business in this state, including the creation and retention of jobs.
238.01 History
History: 2011 a. 7.
238.02
238.02
Creation and organization of corporation. 238.02(1)(1) There is created an authority, which is a public body corporate and politic, to be known as the "Wisconsin Economic Development Corporation." The members of the board shall consist of the governor, who shall serve as chairperson of the board, and 6 members nominated by the governor, and with the advice and consent of the senate appointed, to serve at the pleasure of the governor; 3 members appointed by the speaker of the assembly, consisting of one majority and one minority party representative to the assembly, appointed as are the members of standing committees in the assembly, and one person employed in the private sector, to serve at the speaker's pleasure; and 3 members appointed by the senate majority leader, consisting of one majority and one minority party senator, appointed as are members of standing committees in the senate, and one person employed in the private sector, to serve at the majority leader's pleasure. The secretary of administration and the secretary of revenue shall also serve on the board as nonvoting members.
238.02(2)
(2) A majority of the voting members of the board constitutes a quorum for the purpose of conducting its business and exercising its powers and for all other purposes, notwithstanding the existence of any vacancies. Action may be taken by the board upon a vote of a majority of the voting members present.
238.02(3)
(3) A chief executive officer shall be nominated by the governor, and with the advice and consent of the senate appointed, to serve at the pleasure of the governor. The board may delegate to the chief executive officer any powers and duties the board considers proper. The chief executive officer shall receive such compensation as may be determined by the board.
238.02(4)
(4) All powers and duties assigned to the corporation under this chapter shall be exercised or carried out by the board, unless the board delegates the power or duty to an employee of the corporation.
238.02 History
History: 2011 a. 7,
32.
238.03
238.03
Duties of board. 238.03(1)(1) The board shall develop and implement economic programs to provide business support and expertise and financial assistance to companies that are investing and creating jobs in Wisconsin and to support new business start-ups and business expansion and growth in Wisconsin. The board may also develop and implement any other programs related to economic development in Wisconsin.
238.03(2)
(2) For each program developed and implemented by the board, the board shall do all of the following:
238.03(2)(a)
(a) Establish clear and measurable goals for the program that are tied to statutory or programmatic policy objectives.
238.03(2)(b)
(b) Establish at least one quantifiable benchmark for each program goal described in
par. (a).
238.03(2)(c)
(c) Require that each recipient of a grant or loan under the program submit a report to the corporation. Each contract with a recipient of a grant or loan under the program must specify the frequency and format of the report to be submitted to the corporation and the performance measures to be included in the report.
238.03(2)(d)
(d) Establish a method for evaluating the projected results of the program with actual outcomes as determined by evaluating the information described in
pars. (a) and
(b).
238.03(2)(e)
(e) Annually and independently verify, from a sample of grants and loans, the accuracy of the information required to be reported under
par. (c).
238.03(3)
(3) The board shall require for each program developed and implemented by the board all of the following:
238.03(3)(a)
(a) That each recipient of a grant or loan under the program of at least $100,000 submit to the corporation a verified statement describing the recipient's expenditure of the grant or loan funds, signed by both an independent certified public accountant and the director or principal officer of the recipient to attest to the accuracy of the verified statement. The board shall also require the recipient of such a grant or loan to make available for inspection the documents supporting the verified statement. The board must include the requirement in the contract with grant or loan recipients.
238.03(3)(b)
(b) That the board, if a recipient of a grant or loan under the program submits false or misleading information to the corporation or fails to comply with the terms of a contract entered into with the corporation, without providing satisfactory explanation for the noncompliance, do all of the following:
238.03(3)(b)2.
2. Withhold future payments to be made to the recipient.
238.03 History
History: 2011 a. 7.
238.04
238.04
Powers of board. The board shall have all the powers necessary or convenient to carry out the purposes and provisions of this chapter. In addition to all other powers granted the board under this chapter, the board may specifically:
238.04(1)
(1) Adopt, amend, and repeal any bylaws, policies, and procedures for the regulation of its affairs and the conduct of its business.
238.04(2)
(2) Have a seal and alter the seal at pleasure.
238.04(5)
(5) Accept gifts, grants, loans, or other contributions from private or public sources.
238.04(6)
(6) Establish the corporation's annual budget and monitor the fiscal management of the corporation.
238.04(7)
(7) Execute contracts and other instruments required for the operation of the corporation.
238.04(8)
(8) Employ any officers, agents, and employees that it may require and determine their qualifications, duties, and compensation.
238.04(9)
(9) Issue notes, bonds, and any other obligations.
238.04(14)
(14) Enter into agreements regarding compensation, space, and other administrative matters as are necessary to operate offices in other states and foreign countries. Such agreements shall be subject to the approval of the secretary of administration.
238.04 History
History: 2011 a. 7;
2011 a. 32 s.
3289.
238.05
238.05
Department of commerce assistance and coordination. 238.05(1)(1) If requested by the board, the department of commerce shall provide staff or other resources to assist the board in carrying out the purposes and provisions of this chapter.
238.05(2)
(2) To the greatest extent practicable, the department of commerce and the board shall seek to coordinate their economic development programs.
238.05 History
History: 2011 a. 7.
238.06
238.06
Liability limited. Neither the state nor any political subdivision of the state, nor any officer, employee, or agent of the state or a political subdivision of the state who is acting within the scope of employment or agency, is liable for any debt, obligation, act, or omission of the corporation.
238.06 History
History: 2011 a. 7.
238.07
238.07
Submission of annual reports to legislature. 238.07(1)(1) Annually, by January 1, the board shall submit to the chief clerk of each house of the legislature, for distribution to the legislature under
s. 13.172 (2), a report identifying the economic development projects that the board intends to develop and implement during the current calendar year.
238.07(2)
(2) Annually, no later than October l, the board shall submit to the joint legislative audit committee and the chief clerk of each house of the legislature, for distribution to the legislature under
s. 13.172 (2), a report for the previous fiscal year on each of the economic development programs of the corporation that contains all of the following:
238.07(2)(b)
(b) A comparison of expected and actual program outcomes.
238.07(2)(c)
(c) The number of grants made under the program.
238.07(2)(d)
(d) The number of loans made under the program.
238.07(2)(e)
(e) The amount of each grant and loan made under the program.
238.07(2)(f)
(f) The recipient of each grant or loan made under the program.
238.07(2)(g)
(g) The sum total of all grants and loans awarded to and received by each recipient under the program.
238.07(3)
(3) The board shall make readily accessible to the public on an Internet-based system the information required under
sub. (2).
238.07 History
History: 2011 a. 7.
238.08
238.08
Records of the corporation. All records of the corporation are open to the public as provided in
s. 19.35 (1) except those records relating to pending grants, loans, or economic development projects that, in the opinion of the corporation, must remain confidential to protect the competitive nature of the grant, loan, or project.
238.08 History
History: 2011 a. 32.
238.10
238.10
Allocation of volume cap on tax-exempt bonds. 238.10(1)(1)
Allocation. The corporation shall establish under
26 USC 146 and administer a system for the allocation of the volume cap on the issuance of private activity bonds, as defined under
26 USC 141 (a), among all municipalities, as defined in
s. 67.01 (5), and any corporation formed on behalf of those municipalities, and among this state, the Wisconsin Health and Educational Facilities Authority, the Wisconsin Aerospace Authority, and the Wisconsin Housing and Economic Development Authority.
238.10(2)
(2) Amendment to allocation. At any time prior to December 31 in any year, the corporation may adopt rules to revise the allocation system established for that year under
sub. (1), except that any revision under this subsection does not apply to any allocation under which the recipient of that allocation has adopted a resolution authorizing the issuance of a private activity bond, as defined in
26 USC 141 (a).
238.10(3)
(3) Conditions. The corporation may establish any procedure for, and place any condition upon, the granting of an allocation under this section which the corporation deems to be in the best interest of the state including a requirement that a cash deposit, at a rate established by the corporation, be a condition for an allocation.
238.10(4)
(4) Certification. If the corporation receives notice of the issuance of a bond under an allocation under
subs. (1) to
(3), the corporation shall certify that that bond meets the requirements of
26 USC 146.
238.10 History
History: 1987 a. 69,
403;
1989 a. 8;
1997 a. 27;
2005 a. 335;
2011 a. 32 s.
3315; Stats. 2011 s. 238.10.
238.11
238.11
Employment impact estimates. 238.11(1)
(1) The corporation shall prescribe the notice forms to be used under
s. 66.1103 (4m) (a) 1. The corporation shall include on the forms a requirement for information on the number of jobs the person submitting the notice expects to be eliminated, created, or maintained on the project site and elsewhere in this state by the project which is the subject of the notice. The corporation shall prescribe the forms to be used under
s. 66.1103 (4m) (b).
238.11(2)
(2) If the corporation receives a notice under
s. 66.1103 (4m) (a), the corporation shall estimate, no later than 20 days after receipt of the notice, whether the project that is the subject of the notice is expected to eliminate, create, or maintain jobs on the project site and elsewhere in this state and the net number of jobs expected to be eliminated, created, or maintained as a result of the project.
238.11(5)
(5) The corporation shall issue an estimate made under
sub. (2) to the city, village, town, or county which will issue the bonds to finance the project which is the subject of the estimate.
238.12
238.12
Repayment of grants, loans, and tax benefits. 238.12(1)(1) In this section, "tax benefits" means the credits under
ss. 71.07 (2dd),
(2de),
(2di),
(2dj),
(2dL),
(2dm),
(2dr),
(2ds),
(2dx),
(3g), and
(3t),
71.28 (1dd),
(1de),
(1di),
(1dj),
(1dL),
(1dm),
(1ds),
(1dx),
(3g), and
(3t),
71.47 (1dd),
(1de),
(1di),
(1dj),
(1dL),
(1dm),
(1ds),
(1dx),
(3g), and
(3t), and
76.636.
238.12(2)
(2) The corporation may not award a grant or loan under this chapter to a person or certify a person to receive tax benefits unless the corporation enters into an agreement with the person that requires the person to repay the grant, loan, or tax benefits if, within 5 years after receiving the grant or loan or being certified to receive tax benefits, the person ceases to conduct in this state the economic activity for which the person received the grant or loan or for which the person was certified to receive tax benefits and commences substantially the same economic activity outside this state.
238.12 History
History: 2005 a. 25,
259;
2011 a. 32 s.
3327; Stats. 2011 s. 238.12.
238.125
238.125
Notification of position openings; compliance. The corporation shall monitor compliance with the position-opening notification requirements under
ss. 66.1103 (6m) and
106.16.
238.125 History
History: 1987 a. 27;
1995 a. 27;
1999 a. 150 s.
672;
2011 a. 32 s.
3333; Stats. 2011 s. 238.125.
238.127
238.127
State main street program. 238.127(1)(a)
(a) "Business area" means a commercial area existing at the time services under the state main street program are requested and having historic significance.
238.127(1)(c)
(c) "Revitalization" means the process of engaging in activities to increase economic activity, while preserving and building upon a location's historically significant characteristics.
238.127 Note
NOTE: Section 238.127 (title) and (1) were renumbered from s. 560.081 (title) and (1) by the legislative reference bureau under s. 13.92 (1) (bm) 2.
238.127(2)
(2) The corporation shall establish and administer a state main street program to coordinate state and local participation in programs offered by the national main street center, created by the national trust for historic preservation, to assist municipalities in planning, managing and implementing programs for the revitalization of business areas. The corporation shall do all of the following:
238.127(2)(a)
(a) Enter into contracts to obtain business area revitalization services provided by the national main street center.
238.127(2)(c)
(c) With help from interested individuals and organizations, develop a plan describing the objectives of the state main street program and the methods by which the corporation shall:
238.127(2)(c)1.
1. Coordinate the activities of that program with private and public sector revitalization of business areas.
238.127(2)(c)2.
2. Solicit and use private sector funding for revitalization of business areas.
238.127(2)(c)3.
3. Help municipalities engage in revitalization of business areas.
238.127(2)(d)
(d) Coordinate with other state and local public and private entities which provide services to municipalities undertaking projects for the revitalization of business areas.
