Wisconsin provides many programs to help businesses fulfill their growth plans. And to help navigate the options, our Regional Account Managers (RAMs) provide personalized support for the specific needs of your business, coordinating resources from various partner organizations as needed.
The Brownfield Program helps convert contaminated sites into properties that are ready for redevelopment by providing grant funds to assist local governments, businesses and individuals with assessing and remediating environmental contamination of abandoned, idle or underused facilities or sites.
WEDC may provide financing options through loans or loan guaranties to businesses that are investing funds to expand or relocate to Wisconsin. WEDC investments generally are based on need, quality and quantity of jobs and other requirements. Recipients may be eligible for loan guaranties in addition to, or lieu of, loan financing.
WEDC may provide forgivable loans to businesses with expansion projects having significant impact on job creation, job retention, capital investment, and on the surrounding area, as a whole. Forgiveness of principal and accrued interest is based on meeting specific contracted-for deliverables such as job creation, job retention and/or capital investment.
This program incents new and expanding businesses in the cities of Beloit, Janesville and Kenosha by providing non-refundable tax credits to assist with the creation and retention of new, full time jobs and with capital investment.
Industrial Revenue Bonds are tax-exempt bonds used to stimulate capital investment and job creation by providing private borrowers with access to financing at interest rates lower than conventional bank loans. WEDC allocates the bonding authority or volume cap for the program.
Businesses that begin operating in, relocate to or expand existing operations in Wisconsin and are creating or retaining full-time jobs within the state may be eligible for tax credits. These credits are based on wage range of the jobs, number of jobs to be created or retained, capital investment and training costs for new or current employees.
Businesses located in or relocating to Wisconsin may be eligible for Enterprise Zone Tax Credits. A certified business may qualify for tax credits only for eligible activities that occur after an eligibility date established by WEDC. Positions that are created as a result of the tax credits claimed shall be maintained for at least five years after the certification date established by WEDC.
Businesses located in or relocating to Wisconsin that are creating full-time jobs may be eligible for Jobs Tax Credits. A certified business may qualify for tax credits only for eligible activities that occur after an eligibility date established by WEDC. Positions that are created as a result of the tax credits claimed shall be maintained for at least five years after the certification date established by WEDC.
Capacity Building (CAP) Grant funds assist local and regional economic development groups with assessments of the economic competitiveness of the area and with the development of a Comprehensive Economic Development Strategy.
Developed to assist businesses in workforce retention and expansion into new markets and technology, training grants provide funds to businesses planning to upgrade or improve the job-related skills of its full-time employees.
ExporTech™ is an export acceleration program for businesses looking to international markets as part of their growth strategy. Participating companies receive access to experts, individualized coaching and consulting, customized support and guided development of an international growth plan.
Effective for taxable years beginning on or after January 1, 2011, there are two provisions in Wisconsin Law that allow individuals to defer tax on the long-term capital gain realized from the sale of assets: Section 71.05(24), Wis. Stats., which requires reinvestment of the gain in a “qualified new business venture,” and Section 71.05(26), Wis. Stats., which requires reinvestment of the gain in a “qualified Wisconsin business.”
The U.S. Small Business Administration (SBA) 504 loan program was developed by Congress to assist growing businesses by offering an attractive financing option for real estate and equipment needs. The SBA utilizes Certified Development Companies (CDCs) to process and administer the loan program on its behalf. There are currently 270 CDCs nationwide, each covering a specific geographic area.
WHEDA offers a number of programs and services in support of business development within the State of Wisconsin.
Loan guarantees targeted to specific types of economic development projects.
Partnerships with lending institutions to provide commercial credit for larger projects.
State Small Business Credit Initiative:
Capital access, private equity and other programs that promote job creation and retention.
New Markets Tax Credit (NMTC) Program:
Serves as a resource to help fuel job creation and economic development efforts by promoting equity investment in low-income urban and rural communities. Businesses involved in NMTC deals can obtain benefits including lower interest rates on loans, interest-only payments for seven years, non-traditional financing not available in the marketplace, access to a reduced cost of capital, and more. Projects must be located in highly distressed census tracts, which are determined by factors such as poverty rates and percentage of median family income.
A community development corporation (CDC) that offers a variety of loans and venture capital for growing Wisconsin businesses through its four major financing programs, Impact Seven offers low cost deals and flexible terms.
Greater Wisconsin Fund
Impact Seven has assembled a number of different revolving loan funds to create this program, which serves the entire state of Wisconsin. Loans from this program are generally from $35,000 to $1,000,000. Most new and expanding businesses are eligible.
Venture Capital Fund
Impact Seven’s Venture Capital Fund is one of few such pools in Wisconsin. It is available statewide for ventures that have high growth potential and will consider sharing equity.
SBA Microloan Program
Impact Seven is an intermediary for the U.S. Small Business Administration (SBA) MicroLoan Program, an alternative loan program providing technical assistance and loans of up to $50,000 to new and expanding small businesses. Generally, if you are the owner of a for-profit small business in Wisconsin, you are eligible for this program.
The Wisconsin Women’s Business Initiative Corporation (WWBIC) is a statewide economic development corporation that provides quality business education and financing to Wisconsin’s entrepreneurs and small business owners. WWBIC makes loans up to $100,000 to small and micro businesses that meet a specific set of criteria and qualifications.
The manufacturing and agriculture credit is available to claimants that derive qualified production activities income from property located in Wisconsin that is assessed as either manufacturing or agricultural.