Walker calls for 'dramatic' changes after WEDC lost track of $8M in past-due loans

Source: madison.com

Gov. Scott Walker called for "dramatic moves" Thursday in the wake of revelations that his flagship jobs agency had for more than a year lost track of $8 million in past due loans.

The revelation this week was just the latest embarrassment for the Wisconsin Economic Development Corporation since Walker created it after taking office last year. It is also under scrutiny from the federal Department Housing and Urban Development for failing to follow federal law and state policies in issuing economic development grants. And it was criticized for offering tax credits to a company bidding on a state contract.

Board members of the beleaguered quasi-public agency are expected to discuss the loans and leadership of the authority at a meeting on Friday.

"Being a good steward of taxpayers' money while helping people create jobs is my top priority," Walker, who also serves as WEDC's chairman, said Thursday in a statement. "With that in mind, I will be discussing a series of dramatic moves with the board of the Wisconsin Economic Development Corporation at our meeting on Friday."


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