MADISON, WI (WTAQ-WRN) — A new audit reveals problems at the Wisconsin Economic Development Agency.
The Legislative Audit Bureau found issues at the public-private agency, which provides tax incentive packages and loans to private businesses in exchange for job creation and retention.
The audit found that over a ten year period ending in fiscal year 2021-22, the number of jobs created reached only about 67% of goal, and employee retention programs achieved 73% retention.
Additionally, the agency failed to revoke tax credits in a timely manner if obligations were not met.
The audit bureau report includes 26 recommendations for improvement.
