Friday, October 25, 2013

Wisconsin Featured in Report on Privatized State Economic Development Agencies

Page 11-16.  The Wisconsin Economic Development Corporation.

Heckuva job, WEDC!    Unfortunately, many of the problems with PPPs we cited in our 2011 report came to fruition at the WEDC. It has been revealed that the agency has
  • mismanaged public money, 
  • made questionable subsidy awards, 
  • lacked adequate transparency, 
  • resisted accountability, 
  • had conflicts of interest in awarding of subsidies, 
  • given management lavish executive pay, and 
  • made questionable claims about job creation. 
While all this was going on, over a fifth of WEDC employees were awarded merit bonuses.

WEDC cited in national report on how not to spend taxpayer dollars on economic development. (Capital Times, 10/24/2013)

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