-Governor Walker Introduces New CEO of WEDC, Final
Wednesday, February 6th, 2013 -- 8:22 AM
-Governor Scott Walker was in Marshfield on Friday and introduced the CEO of the Wisconsin Economic Development Corporation, Reed Hall.Reed said he accepted the position because, ?It wound provide a new professional chapter in my life.?
He went on to say that it can?t just be the government and his division creating jobs. ?Partnerships are going to be the key in moving forward.?
Reed also went on to provide his thoughts on the 8 million dollars in loans that went missing before his time at the WEDC. ?People forgot about traditional banking procedures. With the changes going in place, the WEDC is going to look more like a traditional bank.?
Reed also mentioned that the WEDC is going to encourage startups, however, it was discovered on Tuesday that the board that oversees Wisconsin's pension funds has rejected a request from Reed Hall to invest $200 million to help startup businesses.
The board rejected the request, saying that the use of pension funds to pay for economic development initiatives "does not meet our fiduciary duty."
Feel free to contact us with questions and/or comments.