Contact: David Volz, 608-266-2125
MADISON – Governor Scott Walker announced that two companies, Dossette, Pleasant Prairie, and Dynamic Benefits Systems, Franklin, have received the Qualified New Business Venture (QNBV) certification from the Wisconsin Economic Development Corporation.
The QNBV status makes investors in the companies eligible for a 25-percent tax credit on the amount they invest in the businesses.
“For many companies ready to develop and market their products, access to capital is the key to their future growth and the creation of new jobs for Wisconsin workers,” Governor Walker said. “An attractive tax environment is an additional incentive for investors to consider backing an innovative, early-stage business.”
Dossette was established in 2006 to design, manufacture, assemble, service and sell unique medical and pharmacy automation equipment. The company’s technologies can replace manual and semi-automated dispensing equipment, reduce a tablet or pill into a smooth liquid slurry, and provide kiosks for dispensation and audit of pharmacists.
Dynamic Benefits Systems was formed to develop a software service to allow health insurance brokers and human resource departments to quickly and efficiently analyze an insurance plan against the company’s budget. The company expects its software tool to quickly design plans that meet the needs of the individual employee within the employer’s budgetary constraints.
The certification also makes investments in the companies eligible for new programs designed to increase capital for Wisconsin businesses. Under changes enacted in the 2011-13 budget, capital gains on qualifying assets held for at least five years may be excluded from individual income tax, and taxes may be deducted for long-term gains reinvested in a qualified Wisconsin business.
For additional information about the Qualified New Business Venture program, please visit http://www.commerce.wi.gov/bd/BD-Act255-QNBV.html.
The WEDC is Wisconsin’s lead economic development agency. Created in statute as a public authority, the WEDC is responsible for economic development activities previously administered by the Department of Commerce, a state agency eliminated on July 1, 2011.
