Wisconsin Economic Development Corporation Wins Above and Beyond Award

The Wisconsin Economic Development Corporation (WEDC) won Momentum West’s Above and Beyond award in 2022 for the administration of the Main Street Bounceback Program. The WEDC was the statewide administrator of the program, which provided $10,000 in grants to businesses opening locations in vacant commercial spaces after January 1, 2021, through December 31, 2022.

“The Wisconsin Economic Development Corporation is vital to ensuring that Wisconsin attracts and retains high-quality businesses that enhance the economic well-being of Wisconsinites and their communities,” said Steve Jahn, Executive Director of Momentum West. “The team at the WEDC continues to demonstrate their expertise in helping communities, both large and small in Wisconsin, thrive.”

The Wisconsin Economic Development Corporation Leverages Its Expertise and Network to Positively Influence the Growth of New Businesses

The Main Street Bounceback Program was established by the State of Wisconsin and funded with American Recovery Plan Act (ARPA) dollars. The program provided $10,000 grants to businesses opening locations in vacant commercial spaces after January 1, 2021, through December 31, 2022. These grants assisted businesses with costs associated with leases, mortgages, operational expenses, and other costs related to the newly opened location—ultimately improving the odds of businesses opening and expanding and remaining open long-term.

The Wisconsin Economic Development Corporation was the statewide administrator of the program. WEDC partnered with nine regional economic development organizations to quickly disburse grant funding to eligible businesses and nonprofit organizations throughout the State. The regional entities were charged with application processing, approving, and distributing the grants. The West Central Wisconsin Regional Planning Commission (WCWRC) administered the program locally within its seven-county region of Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix counties.

As of December 2022, 775 grants had been awarded within the WCWRPC area for $7,750,000. Over 75 more are anticipated to be approved once the additional applications are processed. Other regional partners made additional awards for the Rusk, Pierce, and Pepin counties.

The Main Street Bounceback Program provided new or growing businesses with funding to assist with moving or expanding into previously vacant commercial spaces —helping to revitalize downtowns and other commercial areas.

Thanks to the active partners of the WEDC – regional planning commissions, county economic development corporations, local economic development partners, municipal staff, local businesses, and others – the program was able to make a significant impact on Wisconsin communities.

The Wisconsin Economic Development Corporation Recognizes the Value of Momentum West

Momentum West, a Regional Economic Development Organization (REDO), stands as one of WEDC’s key strategic partners in the pursuit of fostering a thriving economy throughout the state of Wisconsin. WEDC takes great pride in its collaboration with Momentum West and is honored to be chosen to receive the Above and Beyond Award.

The Wisconsin Economic Development Corporation is at the forefront of economic development in the state, tirelessly working to expand and optimize opportunities for businesses, communities, and individuals to flourish in a globally competitive landscape. In close cooperation with over 600 regional and local partners, WEDC strives to create and deliver solutions that reflect the responsiveness and synergy of a highly coordinated economic development network.

For more information, please visit WEDC’s website at wedc.org or follow them on Twitter @WEDCNews.