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Additional $25M set aside for venture capital fund in Walker budget proposal

Cash money
Cash money

MADISON, WI (WTAQ) - Governor Scott Walker says he’ll budget an additional $25 million to help emerging businesses get off the ground.

The Republican Walker said he would include a venture capital fund in the state budget proposal he’ll give to the Legislature on Wednesday.

There was talk earlier that it might be a separate proposal. Walker told the Wisconsin State Journal that the venture capital would create more jobs and boost the state’s economy.

The fund would include both state and private investments – and it’s on top of millions of dollars in tax credits for start-up companies that Walker had outlined earlier this month.

Venture capital legislation died in the last session because it would have had certified capital companies handle the funding.

Wisconsin used a similar mechanism a decade earlier – and media reports said millions of tax dollars were lost. This time, there’s been no talk of the capital firms getting involved.