State Opportunity Fund Bill Gets Hearing

​Earlier in this legislative session the state’s biennial budget passed with a provision to include $10 million for the Wisconsin Economic Development Corporation to create an Opportunity Fund to draw large events to Wisconsin.

Senate Bill 810 had a hearing today, it is a bill that sets up for framework for how these funds can be spent. Specifically, the bill states that grant money may be used to undertake a project to:
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1. Bid against other states or jurisdictions outside Wisconsin to attract an opportunity or event that will draw national exposure and drive economic development and visitors to Wisconsin. 
2. Host an opportunity or event that will attract national exposure and drive economic development and visitors to Wisconsin that the eligible applicant has secured through a competitive bid against other states or jurisdictions outside Wisconsin. 

Before WEDC awards each grant under the bill, an eligible applicant must provide a project cost-benefit analysis to WEDC and must secure from nonstate sources an amount equal to the amount of the proposed grant.

WHLA’s President & CEO, Bill Elliott, testified at the hearing in support of the legislation stating, “This grant program will put heads in beds, people in pubs, shoppers in stores, and gallons in gas tanks. Hands down, it’s a win-win proposition for the state.”

A video of the hearing is available here (free account required).

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