THU AM Update: Innovation investment policy slowed by risk; Unemployment rate stayed flat or decreased in most large cities

September 25, 2025

— Policies aimed at bringing new business to Wisconsin often get bogged down because of the risky nature of investments, Rep. Rob Wittke says.

Wittke, R-Caledonia, made the comments during a Wisconsin Tech Council luncheon in Madison this week while talking about a pair of new bills to update the state’s investor tax credit program. He said Wisconsin’s government often has a hard time understanding how best to funnel capital to boost the state’s economy.

The amount of risk associated with business investment is generally much higher than other areas, which is a scary thing for many policymakers who’ve never owned a small business or tried to invest in innovation, Wittke said.

He referenced a call with an investor while working on the bills who questioned why Wittke’s colleagues aren’t jumping to add what he called a “small amount of money” to the investor tax credit program.

“I said, ‘Well, how many investments do I have to make until I get even one small successful one?’ And he said, ‘Well, probably 10. Nine of them will fail and one will be successful.’ And I said, Well, there’s your problem,” Wittke said. “That building over there, that kind of risk brings heart attacks to people. They want sure investments with their money.”

One of the bills would raise the investment cap for qualified tax credits under the Qualified New Business Venture program to $20 million from $12 million. The bill would also eliminate the 51% test that requires at least 51% of a QNBV’s employees be employed in Wisconsin.

The other bill would modify the definition of what qualifies as a bona fide angel investment by the Wisconsin Economic Development Corporation. The proposal would include, in addition to the purchase of an equity interest or any other expenditure, a convertible note or simple agreement for future equity.

The bills haven’t been circulated for cosponsorship yet, but Wittke’s office told WisBusiness they expect to send memos out next week.

The state’s investor tax credit program hasn’t been updated since first being passed roughly 20 years ago.

Other challenges getting bills passed and signed into law include informing everyone involved, figuring out who will champion a proposal and formulating a strategy to handle opponents, Steve Lyons, president of SJL Government Affairs & Communications, said.

“You build a coalition of groups that support your efforts, and the groups that are mad or don’t like it, you need to find a way to get them to neutral, or make this not their big, pressing issue, to fight your bill,” he said. “So there’s a whole chess game behind the bill.”

Educating lawmakers and staffers is also a big hurdle for lobbyists and others pushing for policy changes, Mark Austinson, vice president of SJL, said.

“Because, as a staffer or a legislator, you’re a mile wide and an inch deep on all these issues,” Austinson said. “So to understand the need and the benefit of what these policies bring, It’s tough.”

Watch the luncheon here.

— New Department of Workforce Development numbers show most large cities in Wisconsin saw their unemployment rate stay the same or decrease.

Preliminary, nonseasonally adjusted data for August shows jobless rates increased in 15 of the state’s 35 largest cities while 13 saw no change and seven saw the rate decrease.

County-wide data showed a slightly better outlook with rates decreasing in 26 of the state’s 72 counties over the month, increasing in 24 counties and staying flat in the 22 others. Over the year, unemployment rates dropped in four counties, increased in 63 and stayed the same in five.

Of the state’s 13 metropolitan statistical areas, only Fond du Lac and Oshkosh-Neenah saw the unemployment rate drop with two others seeing increases and the nine others staying flat. The rate in one area stayed flat over the year while the other 12 have seen it increase.

See the release.

— AARP Wisconsin named Madisonian Raj Shukla its state director after serving as president and CEO of River Network.

The organization touted Shukla’s past experience working at the intersection of community, government, philanthropy and business while focusing on shaping policy and driving change. Shukla is a UW-Madison graduate and enjoys music, bicycles and basketball. Shukla, who previously served as president and CEO of River Network, succeeds Leslie Spencer-Herrera as the new AARP Wisconsin president.

“The challenges facing Wisconsinites 50-plus are real and pressing,” Shukla said. “Older workers are navigating a tough job market, and the rising cost of housing, food, and health care is putting serious strain on families. Combined with real questions about the future of Social Security and Medicare, older Wisconsinites are really feeling the pressure to make ends meet.

AARP Wisconsin has more than 800,000 members.

See the release.

— Target is already gearing up for the holiday season in the Waukesha County area and expects to hire over 200 seasonal employees at its Oconomowoc distribution center.

Fall started just earlier this week, meaning Halloween, Thanksgiving, Christmas and other holidays are fast approaching. In preparation, Target is opening up to more hires, who will get access to health, well-being and financial benefits, as well as store discounts.

More than half of the company’s seasonal team members were offered a chance to stay on in fulltime positions last year.

“We’re proud to be part of the Oconomowoc community and excited to offer seasonal opportunities at our distribution center,” Target Senior Site Director Julie O’Clary said. “A third of our team has been with us for over five years, which speaks volumes about the strong culture of care, connection, and belonging we’ve built together. This peak season is a great time to join us and make a meaningful impact.”

— Lawmakers began circulating bills that would create a nuclear energy tax credit.

The proposals would start the credit in 2030 and provide a nonrefundable credit of $10,000 per megawatt generated for 10 years. After that, the credit would be gradually reduced and end in year 20.

LRB 4710/1 and 4885/1 would also add nuclear energy as a high priority to Wisconsin’s energy policy.

Rep. Van Orden threatens to strip Mayo Clinic of federal funds over employee’s tweets

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TOPICS

AGRIBUSINESS

– Farm Wisconsin Offers Family Friendly Heritage Day

– Evers, WisDOT to open applications for Agricultural Road Improvement grants

HEALTH CARE

– $250K grants open to community-led organizations supporting health, health equity

– UPDATE: Mayo Clinic responds to Rep Van Orden’s threat to cut federal funds

MANAGEMENT

– Johnson Controls taps data center president to lead Americas segment