Hundreds of new companies have been founded in Wisconsin since the start of the COVID-19 pandemic. Now the state is getting nearly $80 million to support those startups and small businesses.
Gov. Tony Evers is allocating $50 million of those funds to the Wisconsin Economic Development Corporation, or WEDC, which plans to create a new Wisconsin Investment Fund. The money comes from the federal State Small Business Credit Initiative through the American Rescue Plan Act.
“We see over the last few years record fundraising from the venture side of things, but also a lot of success and growth and resiliency from small businesses that are serving Main Street communities as well,” said Aaron Hagar, vice president of entrepreneurship and innovation.
[Adapted from: Wisconsin small businesses to get boost in federal funds February 27, 2023 Wisconsin Public Radio]