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Friday - May 19, 2017 11:11 am

WEDC still can't keep track of loans

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Good news and bad news for Wisconsin's job creation agency. Unfortunately, once again an audit finds the Wisconsin Economic Development Corporation still has a long way to go to right the ship. WEDC uses state money to help private companies create jobs. But they still aren't doing a very good job keeping track of our tax dollars they hand out, or making sure the companies which get the money actually create jobs, or that the money gets paid back. Those should be very basic goals for WEDC, but the latest audit from the Legislative Fiscal Bureau finds those goals are still largely unmet. For example, the agency still isn't forcing loan recipients to submit enough info to determine how many jobs were actually created. The audit also finds that WEDC cannot be certain about the number of jobs created. And the amount of potentially uncollectable loans has ballooned from just over $1 million two years ago to more than $11 million today. So the bottom line, the state agency designed to create jobs in Wisconsin still doesn't know how many jobs have actually been created, and may have handed out millions of dollars which will never be paid back. When will our lawmakers finally realize that this agency, mired in ineptitude from the beginning, continues to waste our tax money, and that it is time to make them do what they are supposed to do, or pull the plug on WEDC altogether.

Scott Robert Shaw

Scott Robert Shaw is the Program Director for both 1410 WIZM and 580 WKTY.   He's currently the morning news anchor on 1410 WIZM, Z93 and 95-7 The Rock.  He joined Mid-West Family Broadcasting as a reporter/anchor in 1989 and served as News Director from 1990-2015.   He's been the winner of several Wisconsin Broadcaster's Association awards for Best Editorial in Wisconsin.  He enjoys traveling, bicycling and cooking.

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