Economic Development
State’s economic development programs should be transparent
Recent federal findings criticizing the lack of openness in Wisconsin’s distribution of federal economic development funds highlights the need for a serious effort by state leaders to ensure these subsidy programs are transparent and accountable. A new WISPIRG Foundation report has found that Wisconsin taxpayers have access to almost no information about the outcomes from the millions of dollars invested in economic development subsidies from the past four years. The report, “Leaving Taxpayers in the Dark: The Urgent Need to Improve Transparency and Accountability in Wisconsin’s Economic Development Subsidy Programs,” finds that online transparency has gotten worse despite promises from state leaders to enhance transparency and accountability in these programs.
WEDC honors minority and women-owned businesses
The Wisconsin Economic Development Corporation (WEDC) recognized minority and women-owned Wisconsin companies for their achievements at this year's Governor's Conference on Minority Business Development in Milwaukee.
WEDC honors minority and women-owned businesses
The Wisconsin Economic Development Corporation (WEDC) recognized minority and women-owned Wisconsin companies for their achievements at this year’s Governor’s Conference on Minority Business Development in Milwaukee.
Rockwell acquires Chinese manufacturer
Milwaukee-based Rockwell Automation Inc. announced it has completed the acquisition of the medium voltage drives business of Harbin Jiuzhou Electric Co. Ltd.
Richfield surveying companies merge
Continental Surveying Services LLC has acquired Elder Engineering in a transaction that merges the two Richfield-based companies.
Quad/Graphics makes bid to acquire bankrupt Maryland company
Sussex-based Quad/Graphics Inc. has signed an agreement to acquire substantially all of the assets of Vertis Holdings Inc., a Baltimore, Md.-based company that has filed for bankruptcy, for $258.5 million.
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PNC Bank’s net income grows
The PNC Financial Services Group Inc., the Pittsburgh-based parent company of PNC Bank, which has branches in the Milwaukee market, today reported third quarter net income of $925 million, or $1.64 per share, up from $834 million, or $1.55 per share, for the same period a year ago.
Icahn to make unsolicited takeover bid for Oshkosh Corp.
Billionaire investor Carl Icahn announced he plans to make an unsolicited takeover bid to acquire Oshkosh Corp. for almost $3 billion.
BizStarts Milwaukee receives federal grant extension
BizStarts Milwaukee has received a grant extension for $718,000 from the U.S. Economic Development Administration to help grow start-up companies in the M-7 region.
State to put $108M in rainy day fund
The Wisconsin Department of Administration announced Monday it will deposit $108.7 million in the state’s rainy day fund, the largest amount ever allotted to the fund. The deposit will bring the fund balance to $125.4 million.
