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Wisconsin Hopes New Job Bills Will Ignite Economy

05/11/2010
Wisconsin Governor Jim Doyle has signed off on nine new laws, including the CORE Jobs Act, aimed at stimulating the state's economy, luring new business and creation of new jobs.

"My administration's top priority continues to be helping businesses create jobs and giving workers the opportunities to get those jobs," Doyle said in a press statement. "The CORE Jobs Act will help spur angel and venture investments, taking good ideas and inventions from labs in Wisconsin to the global marketplace. The bills expanding our very successful Enterprise Zone program will strengthen one of the strongest economic development tools in the country."

Senate Bill 409, the CORE Jobs Act, creates and expands a number of tax credit programs, grant programs, and loan programs aimed at jobs creation and economic development. The bill builds on Doyle's Accelerate Wisconsin plan by providing millions more in tax credits for angel and venture capital investments. It also strengthens successful programs for manufacturing, research and development, and worker training. Doyle exercised his partial veto authority to ensure parity between angel investment and venture capital before signing the CORE Jobs Act into law.

Doyle also signed two bills expanding the Enterprise Zone program by two zones. The 12-zone program was expanded in the governor's most recent budget, creating some of the strongest economic development tools in the country. The Enterprise Zone program is credited with creating and retaining thousands of jobs in difficult national economic times at companies like Enzymatic Therapy, Mercury Marine, Republic Airways, ACCO Brands Corporation, the Herman Miller Company, Actuant Corporation, and A&E Incorporated.

Assembly Bill 864 creates an additional Enterprise Zone tax credit for up to one percent of the amount paid for goods and services purchased from Wisconsin vendors.

Doyle also signed the following job creation bills into law:

Assembly Bill 532 provides funding to award grants to community development corporations from the Department of Commerce to establish capital access programs

Assembly Bill 749 creates a refundable tax credit for equipment used to harvest or process woody biomass.

Assembly Bill 771 awards grants to Wisconsin Workforce Development Associations from the Department of Commerce to support meetings and career guidance workshops.

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