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WEDC given second year of funding by Joint Finance Committee

MADISON, WI (WTAQ) - Wisconsin's job creation agency was given its second year of funding Wednesday under the new state budget.  

Lawmakers held back $59 million from the Wisconsin Economic Development Corporation. They said they would release the funds only after the agency fixed numerous accountability problems exposed in a critical state audit last year.  

Wednesday, the Legislature's Joint Finance Committee voted 11-4 -- with all Democrats voting no -- to allocate the funding.

The panel did hold back a $35 million surplus that the WEDC was hoping to get. Lawmakers decided to use the money either for future tax cuts or other economic development measures.  

Corporation CEO Reed Hall said the agency has addressed its problems, and is heading in the right direction.  

(Story courtesy of Wheeler News Service)