Audit finds Republican-implemented WEDC failed to recoup taxpayer money

[TexasTowelie]

Another day, another report of the Republican WEDC failing to be responsible stewards of taxpayer money.

The state’s economic development agency gave nearly half a million dollars to a company that cut more jobs than it created and handed out taxpayer funds to others for jobs established in other states, according to a bruising audit released Friday.

In addition, the Wisconsin Economic Development Corp. didn’t recover more than $400,000 in tax credits and more than $4 million in loans it could have when employers didn’t meet the terms of their taxpayer-funded deals.

The report by the nonpartisan Legislative Audit Bureau comes as the economic development corporation is tasked with overseeing up to $3 billion in state subsidies for Foxconn Technology Group. The Taiwanese electronics maker is eligible for about $1 billion in local incentives as well.

Skeptics for years have criticized the economic development corporation for not staying on top of its duties. Friday’s audit showed the agency continues to fail to track job creation.

Read more: http://bloggingblue.com/2019/05/audit-finds-republican-implemented-wedc-failed-to-recoup-taxpayer-money/

[SWBTATTReg]

1. Ah, the so called business friendly republicans are hard at it again! NT