Walker did away with the State Commerce Dept. and created the Wisconsin Economic Development Corp. Since its founding, the WEDC has lost 2 jobs for every one it created , most of them to outsourcing overseas. Many of the companies receiving money were owned by Walker donors.
Many of the companies were not eligible to receive money, but money was issued without review. Some of these companies took the money and then went out of business.
Walker Chaired the WEDC until the legislature removed him from that position in late May.
The current investigation seems to be centered around whether this was “Pay to Play”.
Regardless, hundreds of millions of dollars were wasted and Walker, who promised 250,000 jobs in his first term ended up well over 100,000 jobs short of that.
-— hundreds of millions of dollars were wasted
This is the kind of over-the-top lie that discredits your honesty and mental fitness.
‘Hundreds of millions’ exceeds YEARS of WEDC operational budget (spending).
In fiscal year (FY) 2011-12, WEDC spent an estimated $80.1 million. It administered 30 economic development programs that provided grants, loans, tax credits, and other assistance to businesses, local governments, and other organizations.
http://legis.wisconsin.gov/lab/reports/13-7highlights.htm
Conservativejoy loves to post lefty information about Walker and therefore make it sound disturbingly bad. WEDC was an attempt to innovate which has the same kind of record that all the other states economic development efforts have.