Guv’s $50 million economic development fund proposal clears Assembly


A bill championed by Gov. Scott Walker that would provide funding for economic development programs in rural counties cleared the Assembly 95-0 today.

The will would provide $50 million annually to the 56 rural counties that would qualify under the program administered by the Wisconsin Economic Development Corp.

The Joint Finance Committee last week voted unanimously to change the bill to target some of the money to local development groups.

They also voted for several other changes, including:

*directing WEDC to direct at least $5 million for a revolving loan fund that would be administered by rural counties. The 56 counties would be eligible to apply for up to $250,000. If all qualified, that would be $14 million.

*directing WEDC to award one-time grants of $50,000 to rural counties for marketing. If all 56 qualified, that would be $2.8 million.

The bill now heads to the Senate.