Financing & Incentives
Maybe you’re a new business in need of start-up funds or an established company looking for help with a capital investment. The St. Croix Economic Development Corporation can help you access many financing programs, some with financing incentives such as below market rates. We’ll also help you make sense of tax credits, block grant loans, and other economic opportunities. Call Bill Rubin at (715) 381-4383 to answer any questions.
Revolving Loan Fund Program > A flexible source of loan funds for commercial and industrial projects. The goal of the fund is to encourage the creation of quality jobs and also increase the tax base.
Growth Loan Fund > For existing newly founded companies with financial needs that cannot be met by traditional financing. These are companies that are too old for the Micro Loan program, but their financing needs are not large enough to structure through the RLF program.
Micro Loan Fund > Provides small loans to start-up, newly established, and growing small businesses. The objective is to assist business owners who have traditionally had difficulty accessing debt financing by providing them with an alternative to obtain credit.
Downtown Façade Loan Program > Provides financial assistance to encourage property and business owners to revitalize downtown commercial buildings within the towns, cities, and villages of west central Wisconsin.
Technology Enterprise Fund > A “quasi-equity,” or a patient debt, revolving loan fund that provides creative financing to new and emerging technology companies.
Revolving Loan Fund > Provides low-interest loan funds to expanding businesses that are creating jobs and making a capital investment.
Community Development Financing Programs > Wisconsin provides many programs to help communities spur local economic development. The state also provides personalized support for the specific needs of communities, coordinating resources from various partner organizations as needed.
Angel and Early Stage Seed Investment Programs > Encouraging investment in small, high-technology businesses with high growth potential. Angel investors, angel investment networks, and venture capital seed funds may qualify for Wisconsin tax credits by investing in these designated companies. Early-stage businesses conducting pre-commercialization activities related to proprietary technology may also qualify.
Economic Development Tax Credit Program > Nonrefundable and nontransferable credits must be applied against a certified business’ Wisconsin income tax liability. In the case of many entities, tax credits flow through to the owners in the same way as income. Eligible activities include job creation, capital investment, employee training, and corporate headquarters.
Business Opportunity Loan > Limited supplemental funding available for working capital, equipment, training, building construction and improvements, land acquisition, private infrastructure improvements, asset acquisition, and lease payment reduction for property owners. WEDC provides flexible terms to businesses based on the overall economic benefit of the business to the local community, the significance of the capital investment, the number and quality of full-time jobs that are likely to be retained or created as a result of the project, the financial viability of the business, and other factors. The terms also include a loan guarantee option.
Global Business Development Grants > Offered to assist a company’s ability to expand into global markets by providing appropriate training and education to those employees directly involved with implementing the companies export strategy.
Jobs Tax Credit Program > Earmarked for businesses located in or relocating to Wisconsin that are creating full-time jobs.
Manufacturing and Agriculture Credit > Available for income derived from manufacturing and agricultural property located in Wisconsin and will off-set a significant share of Wisconsin income taxes. Amounts not off-set can be carried forward for up to 15 years. When fully implemented in 2016, Wisconsin manufacturers and agricultural processors will benefit from a decline in their corporate tax rate from the current 7.9% to 0.4% with the 7.5% difference treated as a tax credit.
Technology Development Loan Program > Lending options targeting the critical stages of new business development. One chief focus is helping innovative companies with promising economic futures clear the hurdles associated with bringing new technologies, products, and concepts to market.
Training Grant Program > Aids businesses in workforce retention and expansion into new markets and technology. Funds are for businesses to upgrade or improve the job-related skills of a business’ full-time employees and may be used to provide training to employees in full-time jobs.
Wisconsin Center for Technology Commercialization > Offers support and resources needed to bring innovations to market. Primary services focus on funding acquisition assistance, where a team of experts and advocates help determine a viable path to success.
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