Legislation from Dem authors would revive WEDC’s Main Street Bounceback program with state funding, establishing it permanently in Wisconsin statute.
Sen. Kelda Roys of Madison and Rep. Alex Joers of Waunakee sent a co-sponsorship memo late last week to other lawmakers seeking support for LRB-5328. They point to the success of the Main Street Bounceback program, which was funded by the federal American Rescue Plan Act.
Since launching in 2021, the program has provided more than 9,400 grants to small businesses in every Wisconsin county, helping to cover the cost of opening a new location or expanding into an existing vacant commercial space. Total funding for the program reached $100 million in late 2022 after Gov. Tony Evers announced a second expansion of the effort.
Bill authors say creating a permanent program at the state level using the same framework would ensure “the success of the original program can continue,” helping more companies as they seek to grow.
“Providing one-time grants to businesses looking to initially occupy or further expand into vacant commercial space, this program has been a direct investment in the revitalization of communities across the state,” they wrote.
The legislation would appropriate $25 million in general purpose revenue per year during the 2025-2027 fiscal biennium, which WEDC would use to award grants under the Main Street Bounceback model. The agency would be tasked with creating eligibility requirements and other processes for grantmaking that are “substantially similar” to the previous version of the program.
Grant funding would be intended to help cover the cost of opening a new location, covering things like leases, mortgages or operational expenses. The bill would also prevent WEDC from awarding a grant under the bill to nonprofits, according to the Legislative Reference Bureau.
“The program will ultimately aid in restoring business occupancy in currently underutilized storefronts, while also leading to improved odds of a business opening or expanding and remaining open long-term,” authors wrote.
The co-sponsorship deadline is Dec. 18.
See the bill text and read more about the previous version of the program.
