The Office of the Governor of the State of Wisconsin
The Office of the Governor of the State of Wisconsin
23/07/2024 | Press release | Archived content
Gov. Evers, WEDC Announce Record Planned Capital Investments in Wisconsin
Press Release: Gov. Evers, WEDC Announce Record Planned Capital Investments in Wisconsin
State of Wisconsin sent this bulletin at 07/23/2024 09:38 AM CDT| FOR IMMEDIATE RELEASE: July 23, 2024 |
| Contact: [email protected] |
| Gov. Evers, WEDC Announce Record Planned Capital Investmentsin Wisconsin |
| WEDC assistanceto generatemore than $2.4 billion worth of investments across the state |
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MADISON - Gov. Tony Everstoday, together with Wisconsin Economic Development Corporation (WEDC) Secretary and CEO Missy Hughes, announcedWisconsin sawrecord planned capital investments last year as businesses locatedand expanded throughout the state.Businesses partnering with the Evers Administration through WEDC committed to more than $2.4 billion in capital investments in fiscal year(FY) 2024, the highest level since WEDC was created in 2011 and well above the previoushigh of nearly $1.8 billionset in FY19. "Whether it's the expansion of businesses like Kikkoman Foods and Nestle Purina in Jefferson or Rosewood Dairy's new state-of-the-art cheese plant in Clay Banks, now is an incredibly exciting time for business growth in Wisconsin," said Gov. Evers. "We've been making smart, strategic investments in our infrastructure, our schools, our communities, and our workforce, and those efforts are paying off. Businesses want to expand or move to Wisconsin because they know we've got the hardworking people, innovative spirit, and strong institutions to ensure they succeed here." This announcement also comes as last week, Gov. Evers, together with the Wisconsin Department of Workforce Development (DWD), announcedWisconsin achieved new record highs for employment and total nonfarm jobs during June 2024, according to preliminary estimates from the U.S. Bureau of Labor Statistics. In addition, yesterday, Gov. Evers and DWD announced that Wisconsin ranked first in the nation for inflation-adjusted hourly earnings growth during February, March, and May 2024 and second in the nation during April, according to the preliminary data on private sector worker earnings released by the U.S. Bureau of Labor Statistics. "I'vebeen saying recently that Wisconsin is having a moment-as the world focuses on the 2025 NFL Draft in Green Bay, the Wisconsin season of Top Chef, and other exciting events we'reattracting to our state. But the reality is, we'renot having amoment. We have momentum,"said WEDC Secretaryand CEOHughes."Our state is making record investments in our communities, our workers, and in the types of innovation that will continue to put Wisconsin in the lead for generations." A non-exhaustivelist ofprojects supported by the Evers Administration through WEDC include:
In total, WEDC authorized more than $62million in performance-based tax credits to generate over $2.4 billion in capital investments, a staggering 40:1projected return on investment.The projects arealsoexpected to create a total of almost 5,000 jobs statewide. The capital expenditure figures representonly investments for projects WEDC has assistedin the past year, which does not include private sector-only investments in Wisconsin, such as Microsoft's planned $3.3 billion datacenterin Mount Pleasant, Eli Lillyand Company's purchase of Nexus Pharmaceuticals in Mount Pleasant, or Asahi Breweries' purchase of Octopi Brewing in Waunakee, among other major projects. In FY24, Gov.Evers and WEDC also createdthe $100 million Wisconsin Investment Fund, the largest public-private investment partnership in state history, to assistinnovative start-ups in Wisconsin. Roughly one-fourthof the fund's initial investments are targeted atthe state's growing biohealthand biotechnology sectors, which will build on the $49 million Wisconsin will receive from the U.S. Economic Development Administration for Wisconsin's designationas one of 12 national U.S. Regional Technology Hubs. Additionally, WEDC assisteda record 131 communities through its Main Streetand Connect Communitiesprograms and provided more than $33 million in grants and other funding through its Business and Community Development Division to support workforce housing, child care, and downtown redevelopment projects in FY24. WEDC also continues to address the state's workforce needs through the Workforce Innovation Grants, which are administered in partnership with DWD. Twenty-seven projects are meeting regional workforce needs-such as worker training, transportation, child care, and affordable housing-through the $128 million grant program. |
| An online version of this release is available here. |
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| Office of the Governor • 115 East Capitol, Madison, WI 53702 |
| Press Office Email: [email protected] |
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