Gov. Scott Walker said he’d support restrictions on WEDC funds going to companies that outsource jobs.
However, the agency board eventually discussed a narrower requirement during Monday’s meeting in Wauwatosa that companies outsourcing jobs notify WEDC of the move as part of their contract.
The proposal could be be taken up during WEDC’s next meeting in September.
The WEDC board also voted down a proposal to lift the remaining moratorium on the historic preservation tax credit.
Walker has already decided to again give credits to projects that have historical significance, but left in place a moratorium on assistance for pre-1936 buildings that lack historical value.
Assembly Democratic Leader Peter Barca, a member of the board, wanted the credit fully restored. He said projects are still waiting for necessary funding and that the moratorium was delaying new construction jobs.
“There’s a large number of other projects across the state that are counting on us to move forward on this,” Barca said.
However, Walker said those projects that really needed the credits were the buildings with historic significance. Since the moratorium on those projects has already been lifted and the non-historic projects seemed to rush to get most of the tax credits, the greatest need on true “shovel-ready projects” has likely already been fulfilled. WEDC is studying the issue.
“I appreciate the intent, I’m just comfortable keeping it where it’s at right now because I’d like to see the data,” Walker said.
— By Jason Smathers
WisBusiness.com
