This is an excerpt from a column posted at BizOpinion.
Does the state of Wisconsin have a long-term growth strategy … or an economic development death wish?
As stark as that question might seem, it’s worth asking as the political feeding frenzy continues over the performance of the state’s largest economic development agency, the quasi-public Wisconsin Economic Development Corp.
A recent report by the Legislative Audit Bureau covering the first year of WEDC’s existence disclosed a number of compliance, procedural and reporting issues, most of which the agency pledges to correct as it moves ahead. Formerly known as the Wisconsin Department of Commerce, WEDC was recast as a public-private entity in early 2011 in hopes the state could adopt a more nimble, market-oriented strategy for economic growth.
