September 26, 2005: Headlines: Figures: COS - Tunisia: Politics: State Government: Milwaukee Business Journal : Wisconsin Governor Jim Doyle launched his new economic development initiative called "Grow Wisconsin: The 2005 Agenda."
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September 26, 2005: Headlines: Figures: COS - Tunisia: Politics: State Government: Milwaukee Business Journal : Wisconsin Governor Jim Doyle launched his new economic development initiative called "Grow Wisconsin: The 2005 Agenda."
Wisconsin Governor Jim Doyle launched his new economic development initiative called "Grow Wisconsin: The 2005 Agenda."
The plan focuses on supporting small-business incubators; encouraging businesses to locate in "distressed" areas; expediting venture capital and angel investor tax credit expenditures and helping the state's manufacturers become more competitive, the governor said. Wisconsin Governor Jim Doyle and his wife served as Peace Corps Volunteers in Tunisia in the 1960's.
Wisconsin Governor Jim Doyle launched his new economic development initiative called "Grow Wisconsin: The 2005 Agenda."
Doyle launches economic development initiative
Wisconsin Governor Jim Doyle on Monday launched his new economic development initiative called "Grow Wisconsin: The 2005 Agenda."
The plan focuses on supporting small-business incubators; encouraging businesses to locate in "distressed" areas; expediting venture capital and angel investor tax credit expenditures and helping the state's manufacturers become more competitive, the governor said.
Doyle announced his plan during stops in Milwaukee, Madison and Green Bay. As part of the effort, Doyle said that Cellular Dynamics International Inc., a Madison-based biotechnology firm involved in stem cell research, has received $2 million in state aid to expand its operations -- creating 33 jobs.
The company will receive a grant and a loan, each totaling $1 million. The money will be used to defray start-up costs and to leverage $4 million in additional investment.
Among the elements of Doyle's initiative are:
* Directing the Wisconsin Housing and Economic Development Authority to deploy $30 million in bonding to support efforts to create more business incubators.
* Creating a flexible grant program called the Super Employment Economic Development Zones to assist companies that create jobs in the state's areas of highest unemployment.
* Supporting legislation to update the angel and venture capital tax credit to make the program more attractive to investors without raising the cost of the program.
* Proposing legislation to establish a Manufacturing Competitiveness Council, and provide $1.5 million to help manufacturers assess their ability to compete, adopt new technology, and improve the efficiency of their manufacturing processes.
* Seeking legislation to require that all gasoline in Wisconsin contain 10 percent ethanol to increase the state's ethanol production and diversify energy sources.
* Directing the state Department of Commerce to pilot regional economic development initiatives led by the private-sector, two of which are currently underway in the greater Milwaukee and Fox Valley areas.
© 2005 American City Business Journals Inc.
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Story Source: Milwaukee Business Journal
This story has been posted in the following forums: : Headlines; Figures; COS - Tunisia; Politics; State Government
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