As Wisconsin’s lead economic development agency, we’re committed to remaining transparent so the people and businesses we serve can see the results of our actions. Our Operations Plan for FY2014 is available online for the public. It describes how WEDC will achieve better business development results to foster investment and job growth in Wisconsin’s economy.
In addition to transparent planning, we are also dedicated to reporting economic development results. The Annual Report on Economic Development provides transparency and guides fiscal and programmatic management toward measurable and reportable results. Click here for the report and its complementary resources.
Our board meetings are also open and accessible to the public. Additionally, we report to the Legislature to establish goals and accountability measures.
When working with WEDC, we’ve been impressed with their responsiveness and flexibility. The improvements they’re making are helping
us, and the entire business climate in Wisconsin!
—Robert L. Marquette, Bostik
The WEDC foundation was set in motion in January 2011 as the result of a bipartisan study that clearly indicated Wisconsin needed to take a bolder approach to attracting, growing and retaining businesses within the state. In response to the study results, the Wisconsin Legislature called a Special Session to focus on job creation. This session produced 2011 Wisconsin Act 7—a law that created the WEDC as a public-private corporation to replace the Wisconsin Department of Commerce, beginning in July 2011. The bill removed non-business Commerce responsibilities from WEDC and eliminated program mandates in favor of a larger, more flexible economic development fund.
To elevate the Wisconsin economy to be the best in the world by providing a positive business climate, world-class support services and economic development tools to accelerate business start-up, attraction and growth.
WEDC operates with four guiding principles designed to strengthen the state’s approach to economic development:
By being bold in our approach to economic development, we’ve secured foreign direct investment in Wisconsin companies, advanced the state’s water technology sector, and formed a partnership with the UW System to help connect talent and research activities with Wisconsin business. To foster entrepreneurship in Wisconsin, we’re implementing seed investments and expanding incentives for high-growth startups as part of our approach to building an early-stage investment ecosystem.
The operating plan of WEDC reflects a mix of short-, mid- and long-range actions intended to realize benefits today, as well as produce a better economy for Wisconsin tomorrow. Our performance and financial management systems allow greater transparency and feedback, and our individual and partner performance metrics are aligned with top-level organizational goals. It’s all part of our plan for economic vitality and continuous improvement to support business growth in Wisconsin.
WEDC’s divisional structure aligns with the key drivers of our economy:
WEDC tracks operational performance using five key indicators. These metrics are controllable by WEDC actions and consist of: