A new report recommends that economic development functions be carved out from the Wisconsin Department of Commerce and be centralized in a new agency in order to help turn around the state's sluggish economy.
The report shows that the state lags in per-capita income and employment, and consistently ranks in the bottom half of states in terms of business environment.
While the impacts of the national recession, globalization and other economic forces have contributed to the state's economic woes, other states have found opportunities for growth and the report criticizes the state's economic development efforts as “a scattered broadcast of ideas and hopes instead of a well-rooted strategy for change.”
In order to reinvigorate the state's economy, the study's authors recommend the state form a new, quasi-public economic development organization, Accelerate Wisconsin, to create and implement a statewide economic development strategy.
While stripping the Department of Commerce of its economic development functions would represent a major shift, it “can position the state in a more effective leadership role. ”
To read the full, original article click on this link: WisPolitics.com: Report: Wisconsin needs new economic development agency
