Burke Says $600K Can Generate $100 Million for the State
Commerce Secretary Burke said $600,000 spent on trying to attract five companies to Wisconsin each year will generate a $100 million impact to the Wisconsin economy.
She said the five new companies goal, which she called a conservative number that could be lured here, would provide $6.5 million in new state and local taxes, $45 million in payroll, $25 million in construction, and $25 million in new purchases in the state.
Burke also touted the state's angel investment program, but said more needs to be done to provide capital for companies to grow after that initial investment. She also chatted up the $2 million included in the budget for the Wisconsin Venture Center, a kind of resource center for businesses modeled after a similar operation in Ohio, and the GET LEAN! initiative to beef up the manufacturing sector.
Burke also said the state needs to continue to invest in the renewable energy industry, which she said has "vast potential."
