State Codes and Statutes
Statutes > Wisconsin > 560 > 560.605560.605
560.605 Grant and loan criteria; generally.560.605(1)
(1) Upon receipt of an application by an eligible recipient, the department may consider any of the following in determining whether to award a grant or loan under s. 560.61:560.605(1)(a)
(a) Whether the project serves a public purpose.560.605(1)(b)
(b) Whether the project will retain or increase employment in this state.560.605(1)(c)
(c) Whether the project might not occur without the grant or loan.560.605(1)(d)
(d) Whether financing is available from another source on reasonably equivalent terms.560.605(1)(e)
(e) The extent to which the project will be financed with funds not provided by this state.560.605(1)(g)
(g) Whether funds from the grant or loan will be used to pay overhead costs or to replace funds from another source.560.605(1)(h)
(h) Whether the project will displace workers in this state.560.605(1)(j)
(j) The extent to which the project will retain or increase employment in this state.560.605(1)(k)
(k) The extent to which the project will contribute to the economic growth of this state and the well-being of the residents of this state.560.605(1)(L)
(L) Whether the project will be located in an area of high unemployment or low average income.560.605(1)(m)
(m) The financial soundness of the eligible recipient.560.605(1)(n)
(n) The intention of the eligible recipient to repay the grant or loan.560.605(1)(o)
(o) Whether the project will be located in a targeted area.560.605(1)(p)
(p) For an ethanol production facility on which construction begins after July 27, 2005, whether a competitive bidding process is used for the construction of the ethanol production facility.560.605(2m)
(2m) When considering whether a project will be located in a targeted area, the department may consider any of the following:560.605(2m)(a)
(a) Whether the area has high unemployment.560.605(2m)(b)
(b) Whether the area has a low median household income.560.605(2m)(f)
(f) Whether a significant number of workers in the area have been permanently laid off by their employers or whether public notice has been given by an employer of either a plant closing or a substantial reduction in work force that will result in a significant number of workers in the area being laid off permanently.560.605(2m)(h)
(h) Any other factor the department considers to be an appropriate indicator of a targeted area.560.605(7)
(7) The department shall award not less than 35 percent of the total amount of grants and loans made under this subchapter to businesses in distressed areas. In this paragraph, "distressed area" means an area to which any of the following apply:560.605(7)(a)
(a) The area has a high level of unemployment.560.605(7)(b)
(b) The area has a low median household income.560.605(7)(c)
(c) A significant number of workers in the area have been permanently laid off.560.605(7)(d)
(d) An employer in the area has given public notice of a plant closing or a substantial reduction in force that will result in a significant number of workers in the area being permanently laid off.560.605(7)(f)
(f) As determined by the department, the area is affected by another factor that indicates the area is a distressed area.560.605 - ANNOT.
History: 1987 a. 27, 399; 1989 a. 31, 335; 1991 a. 39, 269; 1993 a. 16, 75, 243; 1995 a. 27; 1997 a. 27, 237; 1999 a. 9; 2005 a. 25; 2007 a. 20, 100; 2009 a. 2, 265.