Business & Tech
Corporate Giveaway Or Economic Development?
A jobs proposal would cost taxpayers $250 million with $200 million of that down the proverbial venture capital drain.
The Milwaukee Journal Sentinel is reporting that under a state proposal, a number of private equity firms and insurance companies would make out big -- the plan would cost taxpayers $250 million. But $200 million of that wouldn't have to be paid back. In 1999 the state invested $50 into a similar venture, but the Department of Commerce can't cough up any performance information about the program.
Here's the story:
State proposal would send $250 million to certified capital companies
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