Governor-elect Scott Walker today announced his third piece of legislation for the upcoming Wisconsin is Open for Business Special Session. The proposal replaces the Wisconsin Department of Commerce with the Wisconsin Economic Development Corporation.
Specifically, the legislation:
- creates a public authority called the Wisconsin Economic Development Corporation (WEDC);
- establishs the governance structure of the WEDC;
- establishs the powers and duties of the WEDC; and
- charges the WEDC with developing a plan for dissolving the Department of Commerce by July 1, 2011, transferring all economic development activities to the WEDC and regulatory functions to other state agencies.
The Wisconsin Economic Development Association (WEDA) and its partners released the Be Bold: The Wisconsin Competitiveness Study earlier this year, which helped shape much of the discussion about Wisconsin’s economic development strucutre.
For more information, see Gov.-elect Walker’s announcement.