The Wisconsin Economic Development Corporation (WEDC) is the state’s lead economic development organization to foster job growth in Wisconsin. This summary of the WEDC’s Operation Plan through June 30, 2012 describes how the WEDC will achieve better business development results to foster investment and job growth in Wisconsin’s economy. The Operations Plan was approved by the WEDC Board of Directors on Oct. 11, 2011.
Click here to view a video summary of WEDC’s Operation Plan
Click here to download a copy of the Operations Plan Summary (PDF 1.63 MB)
Click here to read the full WEDC Operations Plan (PDF 487 KB)
The WEDC Operations Plan covers the time period from July 1, 2011 to June 30, 2012. This plan is guided by the Strategic Plan approved by the WEDC Board on June 7, 2011, and by the state budget approved for WEDC on June 26, 2011. The organizational structure aligns with the key strategies in the strategic plan. This plan includes performance expectations; key quarterly milestones; and budgets for each operating division of WEDC. The plan is guided by four principles that also guided the strategic plan:
1. Be Bold – Wisconsin demands bold, innovative actions to fundamentally change
economic development performance in the state. Each WEDC division plan includes
actions to advance long-term benefit as well as achievement of annual customer deliverables.
2. Engage Business – Wisconsin needs its business community engaged in WEDC
operations to ensure customer input and provide direction. The operating plan is built using industry data and includes ongoing business involvement through use of boards, committees, focus groups, and customer service feedback.
3. Operate as an Extended Enterprise – Achievement of ambitious economic goals
requires the alignment of many economic development entities across the state. This
operating plan treats partners as part of a virtual organization in which partners share information, planning responsibilities and metrics.
4. Measure and Be Accountable. Wisconsin needs to maximize the return of its economic development dollars. This plan includes investment in management systems that support ongoing performance feedback, accountability throughout the organization and transparency to stakeholders.
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Serve 1,000 Wisconsin businesses -
Support 125 Wisconsin communities through financial or technical assistance
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Build a stronger economic development network in Wisconsin
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Expand regional revolving loan funds in Wisconsin
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Create and retain 50,000 jobs
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Advance best practices on state investment policy
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Improve accountability on the investment of state tax money
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The Economic and Community Development division will do project-based investments of $43.4 million in business development loans, $4 million in a loan leverage program and $1 million in training assistance grants in companies that retain or create family-supporting jobs in Wisconsin. WEDC also makes $333 million available in tax credits and bonding authority.
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Our International Business Development division will invest up to $285,000 in international business development program services for export assistance to businesses and trade mission grants. The division will provide technical assistance and services on export education, market entry and market development to expand job opportunities related to international trade.
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The International Business Development division will work with the Governor’s Office and relevant state agencies and partners to develop a two-year plan for market entry, industry promotion, trade missions and foreign direct investment promotion.
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The Entrepreneurship and Innovation division will invest up to $11 million in early stage funding and will manage the existing business portfolio.
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Along with its partners, the Entrepreneurship and Innovation division will provide entrepreneurs and investors with a comprehensive array of resources including: planning grants, training programs, tax credits and direct financial assistance.
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WEDC is pursuing development of an early stage capital investment program to leverage state money to boost capital formation.
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The Business and Industry Development division will engage up to 25 industry-led consortia to support their strategic and operations plans to advance these clusters for growth.
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The Business and Industry Development division will invest $10 million in co-investment in seven target industry sectors that are currently being defined. This will allow us to support job creation in targeted areas where Wisconsin has unique competitive advantages.
- The Business and Industry Development division will provide improved services to minority business owners, entrepreneurs and resource organizations through a strengthened minority business development network.
- The Economic and Community Development division will align a strong network by supporting infrastructure, training and professional development. Our Finance and Administration division will develop and help our partners implement customer relationship management tools that will result in more timely and transparent assistance.
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WEDC will improve site location tools (Locate in Wisconsin) to have up-to-date and accurate listings of sites for business expansion and relocation.
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The Economic and Community Development division will invest $12.675 million in public facilities programs, $4.5 million in blight elimination and brownfield remediation and $825,000 in planning and capacity building to communities through investments in public facilities and infrastructure. WEDC will support and expand downtown development services, including our leading Main Street Program.
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WEDC will coordinate with the Department of Workforce Development to support alignment of job needs with job training.
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The Marketing and Public Affairs division will conduct a multi-million dollar marketing campaign that will rebrand the state of Wisconsin for business retention, growth and relocation and establish up-to-date resources that local economic development planners can use.
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The Marketing and Public Affairs division will research and advance policies to create a business growth climate. We will engage the business community to identify policy barriers or opportunities affecting Wisconsin’s job growth.
Economic and Community Development – Makes investments in companies that are expanding operations that retain or create family-supporting jobs in Wisconsin. Partners with municipal, county, and regional economic development organizations to provide incentives for business expansion and community economic development. Brenda Hicks-Sorensen, Vice President
Entrepreneurship and Innovation – Makes early stage investments in entrepreneurs and technology-based companies and in partners who provide entrepreneurship support services, such as investment tax credits and technology development financing. Lisa Johnson, Vice President
Business and Industry Development – Supports job growth by advancing targeted, high-growth business consortia and industry sectors. Lee Swindall, Vice President
International Business Development – Helps companies assess the demand for Wisconsin-made products outside of the United States and assists in developing profitable international transactions. Lora Klenke, Vice President
Finance and Administration – Elevates the Wisconsin economy by providing WEDC and its economic development partners the tools, technology and support necessary to meet strategic goals and operational advantages. Eric Schroeder, Chief Financial Officer
Marketing and Public Affairs – Advances job growth by promoting Wisconsin businesses and business climate, and by researching and promoting policies to create a business growth climate. Kelly Lietz, Vice President
