MADISON –State Representative Jason Fields (D-Milwaukee) today applauded the Assembly for approving SB 55 which expands the number of tax incremental financing districts that can be designated as distressed.
“I am pleased to be a co-author of a bill that will help to provide more options for municipalities who have seen the value of their Tax Incremental Districts (TID) decline in the economic slump,” stated Rep. Fields. “TIDs are an excellent means to stimulate economic development and create jobs.”
“In addition to this and the Bishop Creek economic development legislation approved earlier this year, I am spearheading a project with community groups in Milwaukee on the Build Milwaukee Initiative,” Fields said.
The Build Milwaukee Initiative is collaboration between local groups, the State of Wisconsin and banks to develop and redevelop commercial and industrial space in targeted areas in Milwaukee. The initiative will create 11,000 jobs over 4 years without any new public money.