Gov. Walker defends proposal to reinstate WEDC’s loan program
MADISON — Gov. Scott Walker says he wants to bring back a troubled state loan program because local economic development officials told him they needed assistance.
Walker was asked Tuesday, February 14th about the Wisconsin Economic Development Corporation’s loan program he wants to reinstate after phasing it out because some loans were never repaid, costing the state millions of dollars.
Walker says reinstating the loans is a way to be responsive to local economic development leaders “particularly in smaller areas” without adding state funding.
Walker says reinstating the loans with new requirements including that they not be forgivable “makes sense.”
Walker proposed reinstating the business loans in his two-year state budget proposal released last week.