Walker announces $100M for Milwaukee development - WAOW - Newsline 9, Wausau News, Weather, Sports

Walker announces $100M for Milwaukee development

MILWAUKEE (AP) -

Gov. Scott Walker has announced a $100 million initiative to upgrade a poor section of Milwaukee, in a bid to encourage business growth.

Walker said Monday the investment from state agencies and other investors will help attract companies and at least 2,000 jobs in coming years.

The five-part plan includes developing vacant business properties and improving transportation infrastructure.

Milwaukee has been especially hard-hit in recent years. While that state's unemployment rate is 6.8%, unemployment in Milwaukee has remained around or above 10%.

Walker says the Wisconsin Housing and Economic Development Authority, or WHEDA, will invest $100 million in the project. The resources will include federal tax credits, business-development loans and residential mortgage loans.

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