In FY 2023-24, WEDC administered 25 economic development programs under which it allocated an estimated $76.0 million in tax credits; awarded $24.5 million in grants and $2.0 million in loans; and authorized local governments to issue $20.2 million in bonds. WEDC’s information indicated that 30,254 awards closed from FY 2011-12 through FY 2023-24, including 482 tax credit and loan awards with contractually planned job creation. In addition to reviewing WEDC’s financial management, we evaluated its program administration, program results, and program accountability. We make 14 recommendations to WEDC for improvements.
