Wisconsin has passed legislation to expand its economic development tax credit from $75 million to $100 million.
"Increasing the amount of economic development tax credits increases the opportunity we have to help businesses grow and create jobs," said Governor Scott Walker. "As Wisconsin opens for business, these additional resources will help us reach our goal of freeing the private sector to create 250,000 new jobs."
The state also passed a relocation tax credit for businesses that move to Wisconsin. Companies that have not done business in Wisconsin for at least two years and decide to move to the state will be exempt from income and franchise taxes for two years.
"The relocation tax credit will help us attract new businesses to Wisconsin that will create jobs and improve our economy," Walker said. "As we make our case to businesses around the globe that we are transforming Wisconsin into a job-friendly state, this tax credit will offer an immediate incentive to relocate to our state."