Tuesday's meeting of the Wisconsin Economic Development Corp. board of directors will feature a presentation on an audit conducted by Schenck S.C. and a review by the Financial Institutions Product Corp. of the scandal-plagued agency’s completed loan portfolio.
According to media reports: “Those presentations will be followed up with a discussion of a corrective action plan and governance, according to the agenda.”
That’s a polite way of saying that they will try to figure out how to restore a measure of credibility to an agency that has been the subject of constant reports of mismanagement, inefficiency and ineffectiveness.
Wisconsin is struggling to create jobs and build a 21st century economy. But it is not going well.
And the Wisconsin Economic Development Corp., created by Gov. Scott Walker and his political allies in order to foster a more “business-friendly” economic development regimen, has been a barrier rather than a proponent to progress.
The board should seriously entertain the question of whether the corporation might best be dissolved, with its responsibilities shifted to a state economic development agency that is transparent and that is committed to creating jobs – rather than taking care of political and corporate cronies of the governor.
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