New Audit on Shortcomings at Wisconsin Economic Development Corporation

Thursday, August 31st, 2023 -- 3:00 PM

(Bob Hague, WRN) A new audit reveals problems at the Wisconsin Economic Development Agency.

The Legislative Audit Bureau found issues at the public-private agency, which provides tax incentive packages and loans to private businesses in exchange for job creation and retention.

The audit found that over a ten year period ending in fiscal year 2021-22, the number of jobs created reached only about 67% of goal, and employee retention programs achieved 73% retention.

And the agency failed to revoke tax credits in a timely manner if obligations were not met. The audit bureau report includes 26 recommendations for improvement.

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