Wisconsin Gov. Jim Doyle last week signed legislation that advances state efforts to capitalize on its share of recovery zone facility bonds authorized in the federal stimulus program.
The state received $238 million of bonding authority under the program to be divided among its 63 counties and the cities of Milwaukee, Madison and Green Bay.
Under SB 440, any county or city that does not use its original bond allocation in a timely manner has its share re-entered into a statewide pool that the Wisconsin Commerce Department can then dole out to provide assistance to economic development projects.
The state is providing a piece of the allocation to aid Energy Composites, which has plans for a wind-blade manufacturing plant.
“By pooling these resources together, we will make sure we take full advantage of this opportunity and move forward job-creating projects across the state,” Doyle said.