New Audit Finds Continuing Problems at WEDC
Monday, May 13th, 2019 -- 12:29 PM
(AP) -A new audit finds continuing problems at Wisconsin's economic development agency.The review from the nonpartisan Legislative Audit Bureau released Friday examined the Wisconsin Economic Development Corporation. The audit says that only about 35 percent of required jobs had been created by recipients of tax credit and loan awards through the fiscal year that ended in June 2018. The report says WEDC could have required loan recipients to repay $4 million.
The report says WEDC awarded $462,000 in tax credits for creating jobs to one recipient that actually lost 17 jobs. The audit also faults WEDC for not consistently complying with state laws and its contracts because it awarded tax credits to recipients that created or retained jobs filled by people outside of Wisconsin.
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