The Legislative Audit Bureau makes 14 recommendations to the Wisconsin Economic Development Corporation. 

Program Administration (p. 17)

We recommend the Wisconsin Economic Development Corporation:

1. 1. beginning on December 31, 2025, and every six months thereafter, determine the remaining balance and the total amount of past-due repayments for all loans 90 days or more past due (p. 20);
   2. determine the remaining balance for all of these loans that were amended to defer repayments, written off, or forgiven from July 2025 through December 2025, and then during each six-month period thereafter (p. 20);
   3. determine the remaining balance for all of these loans that were no longer 90 days or more past due during each six-month period thereafter because the recipients made loan repayments (p. 20);
   4. determine the payment delinquency rate and the principal delinquency rate on the first and last day of each six-month period (p. 20);
   5. report this information to the Joint Legislative Audit Committee by February 1, 2026, for the six-month period from July 2025 through December 2025, and then report this information every six months thereafter (p. 20);

We recommend the Wisconsin Economic Development Corporation:

1. 6. take action to complete verification for the award for which its consultant was unable to verify all performance information for 2023 (p. 23);

We recommend the Wisconsin Economic Development Corporation:

1. 7. comply with statutes by modifying its policies to require it to collect repayment from all grant and loan recipients that do not provide a satisfactory explanation for not complying with their contracts (p. 24);
   8. require the grant recipient to repay $2,500 for which the recipient did not provide sufficient information to verify that grant funds were spent in compliance with contractual requirements, and then return the repaid funds to the Department of Administration (p. 24);

Program Results (p. 27)

We recommend the Wisconsin Economic Development Corporation:

1. 9. develop written policies that specify a time by which it should revoke tax credits for recipients that do not meet contractual obligations (p. 37);
   10. consistently comply with its written policies by revoking tax credits within the specified time frame (p. 37);

We recommend the Wisconsin Economic Development Corporation:

1. 11. develop quantifiable impact goals for its programs that do not have job creation and retention goals and annually report on its progress toward meeting those goals (p. 39);
   12. develop an annual written plan that identifies the specific program evaluations it will conduct each year (p. 39);

Program Accountability (p. 41)

We recommend the Wisconsin Economic Development Corporation:

1. 13. improve the accuracy of its statutorily required annual economic development program report (p. 44); and

Audit Follow-Up Reporting

1. 14. We recommend the Wisconsin Economic Development Corporation report to the Joint Legislative Audit Committee by March 6, 2026, on its efforts to implement all of these recommendations.