Incentives – Existing Businesses

Revolving Loan Funds

There are three Revolving Loan Fund Programs in Washington County:

• County fund administered by EDWC
• City of West Bend
• City of Hartford

The EDWC RLF is available to existing Washington County business and to firms relocating to the county. Loans up to $100,000 and very low rates are available. More information is available here (PDF format).

Information on the West Bend program: capellej@ci.west-bend.wi.us
Information on the Hartford program: gkoppelberger@ci.hartford.wi.us

OTHER LOCAL INCENTIVES

• Industrial Revenue Bonds (IRB) are municipal bonds whose proceeds are loaned to private persons or to businesses to finance capital investment projects. All Wisconsin municipalities, cities, villages, and town are authorized to issue IRB’s.
• Tax Incremental Financing (TIF) helps cities in Wisconsin attract industrial and commercial growth in underdeveloped and blighted areas. A city or village can designate a specific area within its boundaries as a TIF district and develop a plan to improve its property values. Taxes generated by the increased property values pay for land acquisition or needed public works.

DEPT. OF COMMERCE PROGRAMS

• The Community Development Block Grant (CDBG-ED) Economic Development Program , provides grants to communities to loan to businesses for start-up, retention, and expansion projects based on the number of jobs created or retained. Communities can create community revolving loan funds from the loan repayments.
• The Customized Labor Training (CLT) Fund provides training grants to businesses that are implementing new technology or production processes. The program can provide up to 50 percent of the cost of customized training.
• The Employee Ownership Assistance Loan (EOP) Program can help a group of employees purchase a business by providing individual awards up to $15,000 for feasibility studies or professional assistance. The business under consideration must have expressed its intent to downsize or close.
• The Enterprise Development Zone (EDZ) Program provides site specific tax incentives to new or expanding businesses whose projects will affect distressed areas.
• The Major Economic Development (MED) Program is designed to assist businesses that will invest private funds and create jobs as they expand in or relocate to Wisconsin.
• The Technology Development Fund (TDF) program helps Wisconsin businesses research and develop technological innovations that have the potential to provide significant economic benefit to the state.
• The Technology Development Loan (TDL) program helps Wisconsin businesses develop technological innovations that have the potential to provide significant economic benefit to the state. This program is designed to help businesses commercialize new technology.
• Tax Incremental Financing (TIF) helps cities in Wisconsin attract industrial and commercial growth in underdeveloped and blighted areas. A city or village can designate a specific area within its boundaries as a TIF district and develop a plan to improve its property values. Taxes generated by the increased property values pay for land acquisition or needed public works.
• The Wisconsin Trade Project Program can help small export-ready firms participate in international trade shows. The business covers its own travel and lodging expenses. COMMERCE can then provide up to $5,000 in reimbursements to a business for costs associated with attending a trade show, such as booth rental, shipping displays or product brochure translation.

ADDITIONAL BUSINESS FINANCE PROGRAMS

• The Brownfields Initiative provides grants to persons, businesses, local development organizations, and municipalities for environmental remediation activities for brownfield sites where the owner is unknown, cannot be located or cannot meet the cleanup costs.
• The Business Employees’ Skills Training (BEST) Program was established by the Wisconsin Legislature to help small businesses (25 or fewer employee or less than $2.5 million in annual sales) in industries that are facing severe labor shortages upgrade the skills of their workforce.
  
  • Automation
  • Agriculture/Food Products
  • Biotechnology
  • Information Technology
  • Manufacturing
  • Medical Devices
  • Paper/Forest Products
  • Printing
  • Tourism
  • Childcare (does not include in-home childcare)

Under the BEST program, Commerce can provide applicants with a tuition reimbursement grant to help cover a portion of the costs associated with training employees. For further information call 1-800-HELP-BUS (1-800-435-7287)

• The Technology Zone Program provides tax incentives to new or expanding businesses involved in Wisconsin’s high-technology sectors. The Southeast area zone is administered by the Southeast Wisconsin Regional Planning Commission (SEWRPC) and information is located at choosemilwaukee.com.
• The State of Wisconsin Investment Board (SWIB) is one of the largest pension funds in the world. SWIB’s staff makes special efforts to explore investments (minimum $3 million) within the state. The Wisconsin Department of Commerce can assist Wisconsin business firms seeking to finance expansions. It works with investors like SWIB, depending upon the financial requirements of the expansion project. Contact the COMMERCE Area Development Manager for your region.

Wisconsin Housing and Economic Development Authority (WHEDA) Programs

• The Wisconsin Housing and Economic Development Authority (WHEDA) Small Business Guarantee can be used for expenses of land, buildings, equipment and inventory associated with the expansion or acquisition of a small business (50 or less full-time employees). The guarantee is limited to 80% or $200,000. This program can finance a mixed-use project if the business occupies at least half of the building. This program can also be used to start a day care business including cooperative ownership or nonprofit status. Contact WHEDA at 1-800-334-6873.
• The Linked Deposit Loan (LiDL) is administered by Wisconsin Housing and Economic Development Authority (WHEDA). This program offers women and minority owned and operated businesses a two-year interest rate subsidy on the portion of a new bank loan of $10,000 to $99,000 that covers land, building and equipment. Contact WHEDA at 1-800-334-6873.
• The Minority Business Development Fund offers low-interest loans for start-up, expansion or acquisition projects. To qualify for the fund, a business must be 51-percent controlled, owned, and actively managed by minority-group members, and the project must retain or increase employment.

OTHER

• The U.S. Small Business Administration (SBA) provides loan guarantees that are used in conjunction with bank financing to improve loan terms. The SBA can provide information on authorized micro-lenders that make loans of $25,000 or less, small business investment companies and certified development corporations that make fixed-rate, long-term loans for the acquisition of business assets. The SBA offers simplified application loan guarantee programs called SBA Low Doc and SBA Express to small businesses. Loans under these programs must be $150,000 or less. Contact the Madison office at 608/441-5263, or the Milwaukee office at 414/297-3941.
• The Small Business Innovative Research (SBIR) and Small Business Technology Transfer (STTR) programs are highly competitive federal programs that provide financial assistance to small businesses engaged in new product development utilizing innovative technologies.
• The Freight Railroad Infrastructure Improvement Program awards loans to businesses or communities wishing to rehabilitate rail lines, advance economic development, connect an industry to the national railroad system, or to make improvements to enhance transportation efficiency, safety, and intermodal freight movement. Contact Ron Adams, Department of Transportation, 608/267-9284.
• The Wisconsin Transportation Economic Assistance Program funds transportation facilities improvements (road, rail, harbor, airport) that are part of an economic development project. Contact Dennis W. Leong, Department of Transportation, 608/266-9910.
• The Petroleum Environmental Clean-up Fund reimburses property owners for eligible clean-up costs related to discharges for petroleum tank systems. Contact Oscar Herrera, 608/266-7605.
• The Recycling Demonstration Grant Program helps businesses and local governing units fund waste reduction, reuse, and recycling pilot projects. Contact Sheila Henneger, 608/266-9426, DNR.
• The Wisconsin Women’s Business Initiative Corporation (WWBIC) offers micro loans to businesses owned by women, minorities, and low-income individuals. WWBIC also offers training and technical assistance. Call 414/263-5450 in Milwaukee, or 608/257-5450 in Madison.
• The Wisconsin Fund provides grants to help small commercial businesses rehabilitate or replace their privately-owned sewage systems. Contact Jean Joyce, 608/267-7113.