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JFC wants more time to consider WEDC funding request

MADISON, WI (WTAQ) - Lawmakers say they need more time to consider a new funding request from the state's job creation agency. 

The Joint Finance Committee postponed a meeting this week to consider $44 million in new funding for the Wisconsin Economic Development Corporation through mid-2015. 

The panel was also supposed to consider approving a new foundation. It would let the WEDC can receive private tax-deductible donations to boost economic development. 

Republican finance chairman John Nygren said he's been meeting with corporation officials to learn more about how the foundation would operate. He said there needs to be strong state government oversight of the foundation, and the agency itself. 

Earlier this year, the finance panel decided to hold onto $63 million earmarked for the WEDC, and to dole it out once the agency took better control of its finances. 

Now, the agency is asking for $44 million of that. The other $18 million-plus would come from a department surplus.   

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