Monday, May 18, 2015

It's story time!!! As served up by WEDC Chairman of the Board Scott Walker.

On February 9, 2011, Wisconsin Act 7 created the Wisconsin Economic Development Corporation (WEDC), a public-private entity, to replace the Wisconsin Department of Commerce.  Governor Scott Walker serves as Chairman of the Board.

'Transparency' webpage found here.

As required by law [Wisconsin State Statutes 13.94(1)(dr)], the Legislative Audit Bureau is required to conduct a biennial financial audit of WEDC. 

The audits have been variously described as 'stinging', 'critical', 'damning', and 'blistering'. 
Here's a very small sample.

And here are some of the 'margin notes' from the Tax Credits Program chapter of the 2015 audit.
  • WEDC did not establish all statutorily required policies for its tax credit programs.
  • Our file review found WEDC’s staff reviews did not consistently evaluate whether businesses met all eligibility requirements in its policies. 
  • Our file review found that WEDC continued to allocate tax credits in FY 2013-14 in ways that did not consistently comply with statutes.
  • In FY 2013-14, WEDC allowed recipients to earn tax credits for projects that began before it executed the contracts. 
  • Our file review found that WEDC did not consistently comply with statutes when it awarded tax credits in FY 2013-14.

The chairman of the board, however, thinks that everything is just hunky-dory in Walkerland.

Quote source:  Walker defends call to phase out state loan program he heads.  (Milwaukee Journal Sentinel, 5/16/2015)

Related posts:
From the pay-to-play archives: The William Minihan-Scott Walker connection.  (5/17/2015) 
What's wrong with this Scott Walker headline?  (5/16/2015)
Chairman of the Board Scott Walker's BIG, BOLD idea.  (5/8/2015) 
Based on WEDC's previous track record, this is what came to mind when I saw first saw this headline.  (4/2/2015)
Apparently, being the CFO of WEDC is not much of a resume-builder.  (3/13/2015)
WEDC's revolving door.  (9/12/2014)
Here's how the Wisconsin Economic Development Corporation is "Reinventing Economic Development".  (8/24/2014) 
Company looks to expand its business geographic focus?  (8/14/2014)
Scott Walker and the horrible, terrible, no good, very transparent day.  (7/28/2014)
Kestrel Aircraft: All these incentives, but no construction, no jobs.  (7/13/2014)
The Eaton Corporation/WEDC timeline of shame.  (7/10/2014)
Wisconsin featured in report on privatized state economic development agencies.  (10/25/2013)
Wisconsin Economic Development Corporation pledge: Following the money.  (7/23/2013)
Incompetence rewarded.  (5/9/2013)
And while we're at it, let's take a look at WEDC 's core values. (5/9/2013)
WEDC Public Information Officer Resigns After 1 Month on the Job.  (5/9/2013)
Plenty of time for messaging but none for fixing what ails WEDC.  (5/9/2013)
Previous WEDC audits?  What previous audits?  (5/8/2013)
Are you seeing a trend yet?  (5/8/2013)
Echoes.  (5/7/2013)
Get me rewrite.  (5/4/2013)
Legislative Audit Bureau Report on Wisconsin Economic Development Corporation: The "Cliff Notes" Version.  (5/3/2013
"Tales of woe never end at WEDC."  (4/25/2013)
Enterprise Florida and Wisconsin Economic Development Corporation share a lack of transparency.  (2/28/2013)

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