By TODD RICHMONDApril 21, 2021 GMT
MADISON, Wis. (AP) The performance of Wisconsin’s troubled economic development agency improved over the last fiscal year but it must sharpen its oversight of tax credit contracts, policies on closing contracts and the accuracy of online data, according to an audit released Wednesday.
The Legislative Audit Bureau’s biennial review found the quasi-public Wisconsin Economic Development Corporation largely complied with state law and its contracts when administering tax credits, loans and grants to businesses during fiscal year 2019-20. As of December, the agency had awarded about $250 million to businesses to help them through the pandemic.
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