WEDC PROGRAM DELIVERABLES (KPIs)

WEDC employs a variety of measures to gauge the effects of its economic development investments, which range from tax credits for investments in early-stage companies to export readiness programs, industry cluster advancement strategies and downtown redevelopment financing. Tallied here are the total measurable outcomes of WEDC’s FY22 economic development investments, including capital investment and job impact data as required in this report:

RECIPIENT ASSISTED
BY WEDC
ASSISTED BY
WEDC KEY
STRATEGIC
PARTNERS
TOTAL FY22 GOAL
Businesses 6,050** 3,208* 9,258 3,870
Communities 163 163 200
Partner Organizations 77 90

* The number was reduced by 20% to account for potential overlap with WEDC businesses assisted.

** Numbers of businesses assisted and grants awarded include one-time COVID-19 programs.

FINANCIAL AWARDS

Award Type # of Awards Award Amount Leverage Ratio*
Bonds 3 $53,357,500
Grants*** 211** $91,253,129 4:1
Investor Credits 44 $95,100,380 4:1
Loans 15 $4,844,000 7:1
Tax Credits 49 $51,510,762 21:1
Total 322 $296,065,771 8:1
FY22 LEVERAGE GOAL 8:1

* WEDC includes a project’s total project investment as reported by the company in this leverage ratio calculation in order to capture the complete impact of a project.

** Numbers of businesses assisted and grants awarded include one-time COVID-19 programs.

*** Includes Wisconsin Investment Pilot program

 

Capital investment supported by WEDC awards

$1.2 billion

A note about capital investment:

The benefits of WEDC’s investments do not end with the capital investment made by the company receiving financial assistance. When a company spends millions of dollars on an expansion project, for example, much of that money is pumped into the local economy through the direct purchasing of contractor services.

JOB IMPACT

YEAR JOBS TO BE CREATED JOBS TO BE RETAINED TOTAL JOBS IMPACTED* FY22 GOAL
FY22 3,357 8,216 11,573 7,325

* Jobs impacted totals are derived from contracts executed between July 1, 2021, and June 30, 2022. These include executed contracts from both current and previous year commitments and agreements with Key Strategic Partners.

A note about job impact:

Not all WEDC financial assistance contracts include a job impact requirement. For those that do, this measurement reflects the number of jobs that will be either created or retained as a direct result of the investment. That job impact number is recorded in the contract and the award is contingent upon its attainment.

It takes time—sometimes years—for the positive direct effects of a WEDC investment to be realized. The question, then, is when are the jobs in question actually impacted? And when do they get counted? WEDC reports the total impact of the jobs in the year the contract is executed, and tracks performance progress to that impact goal throughout the life of the project. Typically, a contract with job creation goals lasts five years.

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