WED AM News: WEDC provided $229M in FY26, exceeding last year’s $198M; Fraser Industries signs deal for shipbuilding collaboration

July 29, 2026

— WEDC provided $229 million to 303 businesses and other recipients in Wisconsin in the latest fiscal year, exceeding the prior year’s total of $198 million.

That’s according to Wisconsin Economic Development Corp. Secretary and CEO John Miller, who discussed the state agency’s annual impact yesterday during a meeting of its Board of Directors. He noted the total is the highest for a given year since 2018. WEDC was created in 2011.

“This work encompasses all sorts of different areas we work in, helping communities create and retain vibrant downtowns, attracting businesses to our state and providing them with the resources to grow, enabling startups to progress from concept to reality and promoting Wisconsin goods and services throughout the world,” he said.

He noted the dollar figure also captures the agency’s work to attract foreign direct investment into Wisconsin from elsewhere around the world.

WEDC recently wrapped up a state trade mission to Africa. Gov. Tony Evers was scheduled to return to Wisconsin yesterday. He July 17 for the trip, which was to include visits to Ghana and South Africa, marking his fourth trade mission since taking office.

Miller yesterday said he and Evers last week met with leaders of Niche Cocoa in Ghana, which in 2022 announced plans to open its first North American manufacturing site in Franklin.

“We have exploded our cocoa bean imports into Wisconsin, we are now eclipsing some very notable states, one of them is Pennsylvania … so that’s a big deal for us,” he said. “Things are going well, and that relationship continues to grow.”

Miller yesterday also touted the agency’s most high-profile business attraction deal of the year: Eli Lilly’s expansion in Kenosha County, providing up to $100 million in tax credits for the $4 billion project. That includes $18 million for job creation and $82 million for capital investment.

“Eli Lilly is spending a huge amount of money, and so we hope that that finishes quickly and they quickly hire the 750 people,” he said.

Meanwhile, WEDC in fiscal year 2026 provided 225 grants to businesses, nonprofits and communities in the state totaling $39.26 million, reaching 67 of the state’s 72 counties, Miller said.

Watch the video.

— Superior’s Fraser Industries has signed an agreement with a division of Korea-based HD Hyundai, which CEO Patrick Kelly calls “an important starting point for the revitalization of the U.S. shipbuilding industry.”

Fraser Industries and HD Korea Shipbuilding & Offshore Engineering recently signed a “shipyard modernization” memorandum of understanding at a ceremony in Washington, DC., the companies announced.

They have agreed to work together to advance various elements of the shipbuilding process, from shipyard design and process optimization to integrating robotics, automation and AI, according to details released yesterday.

Both businesses plan to sign a supply contract later this year for a shipyard modernization consulting program, aimed at making Fraser Shipyards in northern Wisconsin a “demonstration model” for revitalizing the U.S. shipbuilding industry.

“Going forward, we will expand the scope of cooperation into various areas and become a reliable partner for the U.S. shipbuilding industry,” Kim Hyung-Kwan, CEO of HD KSOE, said in a statement.

See the release.

— U.S. Sen. Tammy Baldwin has introduced legislation to direct federal funding toward the Mississippi River corridor, calling it “an investment in our economy.”

The Madison Dem yesterday announced the introduction of the Mississippi River Restoration and Resilience Initiative Act, which would fund “community-driven projects” to protect the river’s environmental resources and fortify communities that border it.

The legislation would use federal dollars for various efforts, ranging from improving water quality by reducing runoff pollution to addressing flooding and other storm risks with “natural infrastructure solutions” and environmental management. It would also help fund wildlife habitat restoration and efforts to combat invasive species, along with scientific research.

Baldwin says the Mississippi River, which runs along much of the state’s western border, is “essential” to the state economy and way of life. It supports shipping, fishing and boating while providing drinking water for millions of people, the announcement notes.

“As communities along the river face more frequent flooding and worsening pollution, we must confront these challenges head on while also making the long-term investments needed to prepare for those ahead,” Baldwin said in a statement.

See the bill text.

See the release.

— UW Health has begun offering proton therapy for cancer patients at Eastpark Medical Center in Madison, starting with adults participating in a clinical trial.

Dr. Ben Durkee, radiation oncologist and medical director of the Proton Therapy Program at the Carbone Cancer Center, says the technology “allows us to personalize radiation treatment with remarkable precision,” resulting in less damage to the surrounding healthy tissue.

“Less radiation to normal tissue can mean fewer side effects,” he said in the release, touting the method’s “remarkable precision.”

Proton therapy targets tumors with radiation using charged particles. This method can be particularly beneficial for patients with tumors near the eyes, brainstem or other sensitive areas, as well as others who’ve previously been treated with radiation, according to yesterday’s announcement.

See the release.

For more of the most relevant health care news, reports on groundbreaking research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics and WisBusiness.com.

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Editor’s note: The following is an excerpt from the latest WisBusiness column by manufacturing expert Buckley Brinkman.

— AI will transform how we learn, work, and explore. Its power and simplicity open more possibilities to more people than any technology before it. Those possibilities keep expanding daily, with no end in sight.

Also unfolding: the question of who profits from that technology. Will AI mature like search or social media, where providers capture most of the value? Or will it play out more like the airline industry, where operators run enormously complex businesses but pass most of the value to their customers?

Read the full column by Buckley Brinkman here.

Find more columns from Brinkman at the AI in Wisconsin page.

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