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1 A Review of State Economic Development Programs Legislative Audit Bureau August 2006
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2 Scope of Effort u We identified 152 economic development programs u Eight state agencies are involved in administering these programs u The Department of Commerce is the lead agency for economic development
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3 Expenditures and Staff u State agencies spent $152.8 million in the 2003-05 biennium u 247.9 FTE staff worked on economic development as of June 30, 2005
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4 Types of Assistance Provided
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5 Targeted Programs
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6 Duplication of Program Services u 34 programs provided assistance in purchasing fixed assets u 33 programs assisted businesses with operating expenses u 26 programs assisted with business planning u 26 programs assisted with marketing or promoting a business or product
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7 Financial Assistance
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8 Per Capita Grants and Loans
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9 Development Zones
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10 Measuring Results u Agencies report expected, rather than actual results u Project results are not consistently verified or compiled u Expected results may be double-counted
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11 Recommendations to Commerce u Continue efforts to identify duplicative and outdated programs u Improve procedures for tracking and reporting actual results and long-term success u Improve tracking and reporting of development zone tax credits claimed u Provide additional information on the effectiveness of the Certified Capital Companies program u Report to the Joint Legislative Audit Committee by February 15, 2007
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12 Other Agency Recommendations u We recommend that UW System and the Wisconsin Technical College System: –Designate an economic development liaison at each campus –Publish directories of their business assistance programs –Report to the Joint Legislative Audit Committee by February 15, 2007
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13 Recommendations to the Legislature u Specify criteria for designation of future development zones u Establish clear, measurable goals to improve coordination u Reduce the number of programs by consolidating similar programs and eliminating inactive programs u Consolidate reporting requirements for state agencies u Improve transparency by making information more readily available to the public
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14 A Review of State Economic Development Programs Legislative Audit Bureau August 2006
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