Click To Refresh and See Other Posts
Finger People - Universal Language - Honduras

Saturday, August 2, 2014

Walker 's WEDC saves 600 jobs in Maine w/Wis $ Hooray!

WEDC | NEARLY YEARLONG DISPUTE OVER RECORDS CONTINUES Behind-the-scenes battle over WEDC records spills into public view

.... Last May, a Wisconsin State Journal investigation revealed that WEDC made a $500,000 loan to Milwaukee-based Building Committee Inc. in 2011 after Gov. Scott Walker’s top Cabinet secretary pressed for millions of dollars to go to the struggling construction company.
The company’s deeply indebted owner, who has yet to repay the loan, included false information on his application. WEDC was unable to produce for the newspaper the standard staff underwriting document that lays out an award’s strengths and weaknesses. ...
Although this "title" is somewhat satiric the article it is based on is not funny!

I guess Walker knows which "Presidential Primary" he must win!

WEDC-backed Kestrel Aircraft now rehiring staff in Maine

Read more:

Kestrel had promised to build an airplane manufacturing plant in Maine before it announced in January 2012 a move to Superior based on financial incentives from the Wisconsin Economic Development Corp. 
When the announcement was made about Kestrel moving to Wisconsin, Gov. Scott Walker said the company would eventually employ 600 people, but so far the company has just a few dozen workers here.
WEDC has provided $4 million in loans to the firm, with the city of Superior contributing another $2.4 million in loans. In addition, Kestrel is certified to receive up to $18 million in enterprise zone tax credits from WEDC, and $30 million in federal New Market Tax Credits from the Wisconsin Housing and Economic Development Authority (WHEDA).

Read more:

Klapmeier had initially told officials in Maine that it was going to build a manufacturing plant in Brunswick by 2010 but later complained the state had not delivered on promised financial assistance.
Klapmeier has since made similar comments about Wisconsin, saying the state did not help the company secure New Market Tax Credits, a federal program that provides low-cost financing to areas in need of redevelopment. Northern Wisconsin has some of the highest unemployment in the state.
Kestrel has not moved forward on its plans to build two construction plants in Superior, and has fallen behind on loan payments to WEDC, the quasi-private entity formed by Walker to help jump-start the state economy via tax breaks and other business subsidies.
WEDC and Kestrel have since worked out a deal where Kestrel won't pay anything until November, when it will begin interest-only payments for a year. After that, it will make equal interest and principal payments for 59 months, ending in October 2020, according to a Friday report from

Read more: 

Jobs in Maine not -> WI 1848 Forward: #Walker 's #WEDC saves 600 #jobs in #Maine w/Wis $ Hooray!

Jobs in Maine not -> WI 1848 Forward: [The joke's on us!] #Walker 's #WEDC saves 600 #jobs in #Maine w/Wis $ Hooray!

No comments: