SUMMARY

In FY 2017-18, WEDC administered 30 programs through which it allocated $3.1 billion in tax credits; awarded $25.6 million in grants and $4.5 million in loans; and authorized local governments to issue $65.7 million in bonds. We reviewed available information for 128 awards WEDC made and found that WEDC improved a number of aspects of its program administration since our last audit (report 17-9) and had complied with most of our recommendations related to program administration. We also found that WEDC awarded tax credits to recipients that created or retained jobs filled by individuals who did not perform services in Wisconsin or were non-Wisconsin residents. WEDC’s information indicated that recipients of 68 tax credit and loan awards that ended through FY 2017-18 created 2,084 of 5,970 contractually required jobs (34.9 percent).