Targeted Industry Projects
The goal of the Targeted Industry Projects (TIP) Program is to support industry cluster and sector development in the state of Wisconsin.
This program supports the following WEDC Strategic Pillar and Focus Area:
Strategic Economic Competitiveness: Future Industry Strategies
The program offers a continuum of services which advances targeted, high-growth business consortia and industry sectors culminating over time in the development of high-quality jobs and significant job growth in Wisconsin. Eligible participating organizations include industry alliances and consortia, nonprofit and public institutional entities.
In return for this WEDC investment, recipient organizations must be actively engaged in distinct (non-duplicative) industry or sector development, or engaged in efforts to enhance cross-industry competitiveness, such as in workforce development, market development, new investments (domestic and foreign) business attraction and acquisition of specialized competitive assets or facilities.
Eligible organizations must have, as determined by WEDC, an identifiable strategy, stable strong leadership, active membership and financial support from members, sound financial condition, and clear identification as an organization connected to target industry development.
Incentives and Available Funding (FY18): $3,000,000
Typically, qualifying recipients may receive financial grants up to $1 million, depending upon the scope of the project, participating co-investment, relevance to industry competitiveness and job-growth potential.
Awards may be given out in phases such that the entire life cycle of a project, from strategy planning or initial concept to project implementation, may take place across up to four separate, phased awards from WEDC.
Activities and Expected Outcomes:
Assist seven organizations; support the creation, attraction or expansion of 40 businesses; and achieve a 3:1 leverage of other investment.
Recipients will be required to periodically submit a performance report documenting specific project activities, as well as any other contract deliverable.
WEDC may impose additional reporting requirements to evaluate project performance and to ensure compliance with contract deliverables.
Application and Awards Process:
Applicants for a TIP grant should complete an application through an account manager. The completed application will be assigned to an underwriter and go through the award review process.
For more information on application review, internal process and award distribution, please refer to WEDC’s award administration policies and procedures.