Wis. lawmakers back $25 million for startup fund

Published On: Apr 24 2013 04:28:33 PM CDT
MADISON, Wis. (AP) -

A group of state lawmakers are putting forward a plan to help fund startups and companies that are growing in Wisconsin.

The bipartisan legislation sponsored by Republican Rep. Mike Kuglitsch, of New Berlin, would put $25 million into a fund that invests in agriculture, technology, energy and other targeted industries. The fund also will include $50 million in investments from private sources.

Lawmakers and business owners said at Wednesday a news conference that Wisconsin has lagged behind other states in creating private sector jobs and the $25 million would provide initial funding to boost economic growth.

The $25 million also was included in Gov. Scott Walker's proposed budget.