The Wisconsin Economic Development Corp. today announced secretary and chief executive officer Reed Hall will retire on Sept. 25.
Hall was hired out of retirement by the WEDC in October 2012 to serve as interim CEO until a permanent replacement was found for Paul Jadin. He had served as executive director of the Marshfield Clinic, the regional health care provider based in central Wisconsin, from January 2000 until his July 2010 retirement.
Hall was named permanent secretary and CEO in January 2013. This January, Gov. Scott Walker reappointed him to continue leading the beleaguered organization.
The public-private agency has been in turmoil over the past several months after a state audit revealed several of the companies to which it has awarded state funds have not been thoroughly vetted or tracked. Some have failed, while others have not met job creation promises upon which the funding was contingent.
Assembly Democratic Leader Peter Barca (D-Kenosha) and Sen. Julie Lassa (D-Stevens Point), the Democratic representatives on the WEDC board, called for Hall to resign as a result of the audit’s findings.
“It has been an honor to serve as secretary/CEO of WEDC since October 2012. My appointment was intended to last for an interim period of three months. Three years later it is time for me to return to my previous retired status,” Hall said in a statement.
Hall, who will complete his existing commitments following his official retirement date, went on to defend his record at the job creation agency and highlight some of his accomplishments.
“As I look back at my tenure at WEDC, I want to thank the governor for this opportunity to serve the State of Wisconsin, the WEDC board of directors, the other cabinet secretaries with whom we have worked, our economic development partners across the state, and especially our very talented and hardworking staff. Together we have increased transparency and accountability of WEDC’s operations. We have put in place checks and balances, enhanced financial tracking, and expanded the information that we provide to the WEDC board, the Wisconsin Legislature, and the public.
“WEDC’s programs have helped the Wisconsin economy to grow. Our State’s unemployment rate has fallen to 4.6 percent from a high of 9.2 percent in January 2010 and Chief Executive Magazine recently ranked Wisconsin the “12th Best State for Business” in its annual survey of CEOs – a big increase over 2010, when the state ranked 41st. It has been a pleasure to be part of the transformation of WEDC and to help Wisconsin move forward.”
Dan Ariens, president and CEO of Brillion-based Ariens Co., in July was named WEDC board chairman. The board at that time hired a national consultant to review the organization’s operations.
“I would like to thank Reed for his service—he has done a tremendous job during a very challenging time for WEDC,” Ariens said. “Throughout multiple audits, budgets, and successes, Reed’s steady leadership has been instrumental as the agency has fostered relationships with job creators in all regions of the State. Wisconsin’s economy is stronger because of Reed Hall.
“Moving forward, the WEDC board stands ready to help administer job creating programs as the search for a new CEO is conducted. Under the board’s leadership, WEDC will continue to provide guidance, capital, and the resources necessary to help businesses create jobs.”
