The Wisconsin Economic Development Corporation can sponsor events closed to the public if they draw national attention or contribute substantially to statewide or regional economic growth.
Events closed to the public can receive sponsorships if they meet national-attention or substantial economic-growth tests. Regularly scheduled Wisconsin events and events rotating within Wisconsin are excluded. This funding cannot exceed 25% of the program’s yearly allocation.
The Wisconsin Economic Development Corporation must estimate expected economic benefits before awarding a sponsorship. Its annual report to lawmakers includes those estimates.
Applicants must match the proposed state sponsorship dollar for dollar. Their match can include cash, goods, or services, and state sources are allowed.
The Wisconsin Economic Development Corporation may sponsor major events or opportunities closed to the public. Eligible applicants include local and tribal governments, visitor and convention bureaus, districts that support local businesses, and private applicants. Funding must support attracting or hosting the event or opportunity in Wisconsin. The agency must find that the event or opportunity will draw national attention to Wisconsin or contribute substantially to statewide or regional economic growth. Events or opportunities the agency finds are regularly scheduled in Wisconsin or rotate destinations within Wisconsin cannot receive this funding. The agency must give special consideration to initiatives it finds would occur during the tourist offseason or a period of economic need for Wisconsin. The 25% spending limit applies separately in each fiscal year.
The Wisconsin Economic Development Corporation must estimate an event’s or opportunity’s expected economic benefits before awarding a sponsorship. The estimate covers direct and indirect economic benefits to Wisconsin. The agency’s report to the legislature’s Joint Committee on Finance must include its estimate for each sponsorship awarded. The agency must submit the report by October 1 each year, covering the previous fiscal year.
Applicants must secure cash or contributions of goods or services equal to the proposed sponsorship amount. The matching requirement covers eligible applicants seeking funding through Wisconsin’s opportunity attraction and promotion sponsorship program. The matching contributions may come from state sources. Applicants must secure the matching contributions before the Wisconsin Economic Development Corporation awards a sponsorship.
No hearings or votes scheduled.