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SB 409

Wisconsin “C.O.R.E.” Jobs Act Connecting Opportunity, Research, and Entrepreneurship

(Lassa/Molepske) relating to a postsecondary education tax credit for businesses; increasing annual limits on angel investment tax credits; awarding grants to the WiSys Technology Foundation, Inc.; business plan competitions and an emerging technology center in the University of Wisconsin System; rural outsourcing grants; requiring the Department of Commerce to award grants to a high−technology business development corporation and grants for converting manufacturing facilities; increasing funding for certain economic development programs; a pilot program providing microloans for the creation of new businesses; increasing funding for certain technical college training program grants; providing an exemption from emergency rule procedures; granting rulemaking authority; and making appropriations.

Major provisions of interest to UW System include:

• create a business plan competition program for comprehensive campuses, to help make entrepreneurial expertise available to students statewide;
• development of an emerging technology center at the UW-La Crosse;
• funding to WiSys for the Wisconsin Small Company Advancement Program to provide grants for intellectual property management services;
• a postsecondary education tax credit for businesses that pay tuition for certain employees.

SUPPORT:  While the UW System is neutral on the portions of this bill not directly related to higher education, this comprehensive economic development package contains several provisions helpful to the UW System.

Together, these initiatives recognize the University’s central role in supporting Wisconsin’s long-term economic growth, consistent with UW System’s efforts to increase the number of degree holders, improve and create jobs, and enhance communities, as outlined in the “Growth Agenda for Wisconsin.”

Several provisions are closely related to recommendations offered by UW System’s “Research to Jobs” task force. Investments in programs like these will help further Wisconsin’s economic development by leveraging academic research, entrepreneurism, and university/business partnerships across the state, and the University is currently working to prioritize and implement some of those recommendations.  Ideally, State funds for new academic programs would be provided to the UW System and allocated by the Board of Regents, rather than designated for specific campuses in legislation.

Two provisions require the UW System to secure matching private gifts, which may be challenging in the current economic climate when institutions are already working to raise gifts for financial aid, building projects, and other academic priorities.

The Board has previously supported postsecondary education tax credits (in separate legislation), as one way to help more non-traditional working adults complete their college degrees.

As a whole, the higher education initiatives in the C.O.R.E. job package are consistent with UW’s strategic goals, and support our efforts to help drive Wisconsin’s economy.