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Major manufacturers and
other large businesses play a significant role in our state’s overall
economic health and employment levels. It’s vital that we create an
environment for keystone businesses to survive and thrive in Wisconsin, and
we have created new programs and incentives to support them. I wanted to let
you know some things we have been doing in the State Assembly to get our
economy moving again. While I know that we have so much more work to do, it
is important to me that my constituents in the 91st Assembly District get an
idea of the action we are taking.
Recently we created a Super Research and Development Tax Credit that
establishes a dollar-for-dollar credit to offset future tax liabilities for
qualified research expenses. We consolidated our $94 million Economic
Development Tax Zone Credit program to increase our ability to target the
credits to the right businesses. Under our new program, a person that
creates jobs, makes capital investments, trains employees or
relocates/retains a corporate headquarters in Wisconsin will be eligible to
receive job creation incentives.
We have also further bolstered the Enterprise Zone Tax credit program by
allocating an additional $3.5 million in job creation incentives for
companies that create and retain family sustaining jobs in Wisconsin. The
amount of the incentive is based upon the company’s payroll paid to
full-time employees. The Assembly made an additional expansion of the
Enterprise Zone Program by adding a 10% refundable credit for companies
making significant capital expenditures in an enterprise zone. Just as they
do for small and mid-size companies, the Development Opportunity Zones,
established in Kenosha and Janesville, provide up to $20 million in tax
credits for large companies that create and sustain jobs.
To have a strong economy, we must continue to improve upon our world-class
workforce. At a time when our business climate is changing, funding for
worker retraining programs is critical. In order to take steps to train our
workforce in this changing economy we have increased funding for Wisconsin’s
technical college system - the front line in worker retraining efforts - by
$5.2 million. We have also extended federal unemployment benefits to allow
Wisconsin workers a chance to complete an educational program while they
look for a new job.
While I understand that there is much more work to be done, I do feel we are
beginning to move in the right direction. As always, I am open to new ideas
and suggestions from business leaders, local officials, and all citizens who
share an interest in our areas economic development. As your State
Representative, it is my goal to be your independent voice and work with
other leaders in our state, whether they are Republican, Democrat, or
Independent to build a stronger economy.
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