Walker announces $100M for Milwaukee development
Unemployment rate in Milwaukee is higher than state
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 percent, unemployment in Milwaukee has remained around or above 10 percent.
Walker said 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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