The goal of the Targeted Industry Projects (TIP) Program is to support industry cluster and sector development in the state of Wisconsin.
This program supports the following WEDC Strategic Pillar and Focus Area:
Strategic Economic Competitiveness: Future Industry Strategies
The program offers a continuum of services which advances targeted, high-growth business consortia and industry culminating over time in the development, diversification and growth in sectors that provide sustained high-quality jobs, continued innovation and increase in GDP in Wisconsin. Eligible participating organizations include industry alliances and consortia, nonprofit and public institutional entities.
In return for the WEDC investment, recipient organizations must be actively engaged in distinct (non-duplicative) industry or sector development, or engaged in efforts to enhance cross-industry competitiveness, such as workforce development, market development, new investments (domestic and foreign) business attraction and acquisition of specialized competitive assets or facilities. These investments are generally intended to seed startup consortia, help fund industry-related pilot projects, or expand successful initiatives to other areas in Wisconsin, or allow for expansion of consortia efforts.
Eligible organizations must have, as determined by WEDC, an identified strategy, stable strong leadership, active membership and financial support from members, sound financial condition, and clear identification as an organization connected to target industry development or cross-industry development.
Incentives and Available Funding (FY19): $3,800,000
Individual grants will typically not exceed $1,000,000.
Activities and Expected Outcomes:
Assist seven organizations; support the creation, attraction or expansion of 50 businesses; and achieve a 3:1 leverage of other investment.
Recipients will be required to periodically submit a performance report documenting specific project activities, as well as any other contract deliverable.
WEDC may impose additional reporting requirements to evaluate project performance and to ensure compliance with contract deliverables.
Application and Awards Process:
The TIP Grant Program has a continuous application process. Applicants for a TIP Grant should complete an application through an account manager. The completed application will be assigned to an underwriter and go through the award review process.
For more information on application review, internal process and award distribution, please refer to WEDC’s award administration policies and procedures.