ABB 2006/7 | State Profiles | Mid West region | Wisconsin

Located in America’s heartland, Wisconsin is a place of abundant natural beauty, diverse recreational activities, progressive educational institutions and unsurpassed economic opportunity.

With 15,000 inland lakes, two Great Lakes, three National Park Service properties and 57 state parks and forests, Wisconsin is blessed with stunning natural resources. Not surprisingly, it is one of the top tourist destinations in the Midwest, popular with visitors during all four of its distinct seasons. Wisconsin’s appeal isn’t limited to rural areas, though: the state’s towns and cities have a long history of supporting arts and cultural activities, offering visitors a wide variety of museums, galleries, performing arts, events and historical sites. The state also boasts top-flight professional sports teams, world-class entertainment and incredible restaurants and nightclubs.

Economy

The Badger state’s economy is as diverse as its attractions. Long known as “America’s Dairyland”, Wisconsin ranks at or near the top in a number of food production categories, including milk, cheese, cranberries, ginseng and beer. Home to companies like Harley-Davidson, Rockwell, Miller Brewing and SC Johnson, the state is also a leader in manufacturing and boasts one of the lowest unemployment rates in the country.

Tax incentives

Wisconsin offers a number of tax incentives for corporations and other businesses to locate or expand their operations within the state. Incentives available to businesses include exemptions, credits, and other special corporate tax treatment. In addition, the state has designated certain areas as development zones and local governments have created tax incremental finance (TIF) districts.

Businesses locating or expanding operations within development zones are eligible to claim development zone tax credits. Businesses locating operations within a TIF district benefit from infrastructure financed by tax increments. In addition, a technology zones programme was recently enacted that provides tax credits for high-technology businesses locating in a technology zone.

Wisconsin outlook

Despite some concerns regarding the price of oil and the pace of job creation, the national economic forecast anticipates continued increases in employment and income. In this environment, it is reasonable to anticipate employment growth in Wisconsin to average in excess of 1.5% annually over the next several years. Nominal income growth should average over 5% per year and with inflation remaining in the 2% range, real incomes are expected to increase steadily.

For more information, contact;
Wisconsin Department of Commerce
201 West Washington Avenue
Madison, Wisconsin 53703
Tel: +1 608 266 1018
Website: www.wisconsin.gov

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