DOA:......Quinn, BB0426 - Advanced manufacturing grants
For 2025-2027 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
COMMERCE AND ECONOMIC DEVELOPMENT
Economic development
Advanced manufacturing grants
This bill increases by $5,000,000 the amount WEDC may expend from its GPR appropriation for general operations and economic development programs in fiscal year 2025-26 for the purpose of establishing a program to award matching grants to small and midsized manufacturing companies located in this state to invest in advanced manufacturing technologies. No one company may receive more than $200,000 in grants under the bill, and no one grant under the bill may be for more than one-third of the amount invested in advanced manufacturing technologies by the company. To receive a grant under the bill, a company must commit to not reduce its employment below the level when the grant is awarded. If a company that receives a grant under the bill fails to meet this commitment within 10 years after receiving the grant, the company must repay the grant amount to WEDC. WEDC may provide an exemption to the repayment requirement if it finds that the company has undergone a unique hardship.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section 9149. Nonstatutory provisions; Wisconsin Economic Development Corporation.
(1) Advanced manufacturing grants. Notwithstanding the cap on expenditures specified in s. 20.192 (1) (a), in fiscal year 2025-26, the amount the Wisconsin Economic Development Corporation may expend from the appropriation under s. 20.192 (1) (a) is increased by $5,000,000 for the purpose of establishing a program to award matching grants to small and midsized manufacturing companies located in this state to invest in advanced manufacturing technologies. No one company may receive more than $200,000 in grants under this subsection, and no one grant under this subsection may be for an amount that is more than one-third of the amount invested in advanced manufacturing technologies by the company. To receive a grant under this subsection, a company must commit to not reduce its employment below the level when the grant is awarded. If within 10 years after receiving a grant under this subsection the company that receives the grant fails to meet this commitment, the company shall repay the grant amount to the Wisconsin Economic Development Corporation. The Wisconsin Economic Development Corporation may provide an exemption to the repayment requirement under this subsection if it finds that the company has undergone a unique hardship.
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