Grant applications now available for program that helps communities throughout Wisconsin develop idle industrial and commercial sites
MADISON, WI. Sept. 7, 2016 – The Wisconsin Economic Development Corporation (WEDC) is now accepting applications for a grant program to assist Wisconsin communities looking to revitalize and develop industrial and commercial sites that have been abandoned or require extensive improvements.
The Idle Sites Redevelopment Program, created in 2013, will offer Wisconsin communities grants of up to $500,000 for implementation of redevelopment plans for large industrial or commercial sites that have been idle, abandoned or underutilized for at least five years. Up to $2.3 million in funds are available through the program this year.
“The Idle Sites Redevelopment Program is an extremely effective vehicle for cultivating communities for those who live and work in them,” said Barb LaMue, vice president of business and community development for WEDC. “This program is structured to advance the marketability of industrial sites that have been vacant, with preference given to sites that are located in high-density urban areas or in central business districts.”
To date, WEDC has awarded more than $10.8 million in Idle Sites grants to 15 projects throughout the state that are projected to draw an additional $300 million in private investment. These redevelopment sites are projected to generate $466 million in additional property value and support more than 5,600 direct jobs, as well as up to 9,000 construction and supporting jobs.
This year, the program will have a single grant competition in which applications are due Nov. 1. Cities, villages, towns, redevelopment authorities, community development authorities or other government entities with idle industrial sites of 5 acres or more or commercial properties of 10 acres are eligible for the program.
Award funds are limited to 30 percent of project costs, including demolition, environmental remediation, infrastructure or site-specific improvements defined in a redevelopment plan to advance the site to shovel-ready status or enhance the site’s market attractiveness.
Applications are now available. To begin the application process, click here.
If you are interested in applying for or have questions about the Idle Sites Redevelopment Program, please contact a WEDC regional economic development director.
About the Wisconsin Economic Development Corporation
The Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing and maximizing opportunities in Wisconsin for businesses, communities and people to thrive in a globally competitive economy. Working with more than 600 regional and local partners, WEDC develops and delivers solutions representative of a highly responsive and coordinated economic development network. Visit www.inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.