WEDC to reinstate loan program

A controversial business loan program from the Wisconsin Economic Development Corp. will be reinstated at the urging of Gov. Scott Walker, who shut the program down two years ago after an audit found several issues, including the WEDC not keeping track of jobs created by the companies receiving the loans, and categorizing some loans to companies that defaulted as “forgivable.”

Republicans, who voted 12–4 in favor of reinstatement, say the WEDC has improved its systems to ensure such mistakes will not happen again.

Democrats in large part objected but requested that protections are put in place.

A new audit of the WEDC is due out soon.