AB 856

This bill requires the Wisconsin Economic Development Corporation to

establish and administer an economic development program for the purpose of

attracting major opportunities and events to Wisconsin. Any city, village, town, or

county, American Indian tribe or band, area visitor and convention bureau, business

improvement district, or private entity is an eligible applicant for a grant under the

bill.

An eligible applicant must expend all grant moneys on a project to attract to

Wisconsin or host in Wisconsin, or both, a major opportunity or event that is open to

the public, whether or not free of charge. Specifically, grant moneys may be used to

undertake a project to do one or more of the following:

1. Bid against other states or jurisdictions outside Wisconsin to attract an

opportunity or event that will draw national exposure and drive economic

development and visitors to Wisconsin.

2. Host an opportunity or event that will attract national exposure and drive

economic development and visitors to Wisconsin that the eligible applicant has

secured through a competitive bid against other states or jurisdictions outside

Wisconsin.

Before WEDC awards each grant under the bill, an eligible applicant must

provide a project cost-benefit analysis to WEDC and must secure from nonstate

sources an amount equal to the amount of the proposed grant. Additionally, the bill

provides that WEDC may consult with the Department of Tourism to implement the

grant program.

Finally, the bill requires WEDC to submit an annual report to the Joint

Committee on Finance that includes a detailed description of each grant awarded

under the bill, including the eligible applicant's cost-benefit analysis concerning the

proposed opportunity or event.