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Gov. Doyle Reveals New Plan to Grow Wisconsin Economy
Reporter: Amy Pflugshaupt
Innovate Wisconsin is Governor Jim Doyle´s new plan to help create
new jobs and grow the state´s economy.
He spoke to employees at Cequent Trailer Products in Mosinee on Monday where
he unveiled his new plan to offer a tax credit to companies who increase their
research and development by 25%. Businesses would also be exempt from sales
and property taxes on the equipment used in research and development.
Doyle says over the last 5 years the state has committed to build some of
the world´s leading research institutions and he hopes Innovate Wisconsin
will continue this trend.
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Gov. Doyle Launches Innovate Wisconsin
MOSINEE –– Governor Doyle unveils a new plan for job creation.
He is launching a new campaign called Innovate Wisconsin.
It focuses on providing private companies with incentives for furthering their research.
He wants to provide tax credits to companies that increase their research spending
and tax exemptions for equipment used in research. "So this is a tax credit a way we
hope goes to the heart of what i think we need to do to compete, to create new products,"
says Governor Doyle. The Governor says public companies and universities already go above
and beyond in research.
He says private companies in Wisconsin are about average right now.
Research spending was almost 3-billion dollars in Wisconsin in 2005.
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Doyle unveils plan to spur research, development
Wausau Daily Herald
MOSINEE – Gov. Jim Doyle today picked a backdrop of heavy machinery and
first-shifters in ballcaps and jeans at Cequent Trailer Products in Mosinee to unveil
his plan to grow the state´s economy through investment in research and development.
The plan, called Innovate Wisconsin, offers incentives to private businesses, encouraging
them to improve their existing products and develop new ones.
It would do so by:
- Providing new tax credits to companies that increase spending on research and
development by 25 percent over their three year average. Such companies would receive
a $1 tax credit for every $1 they spend above that threshold. The credit would be capped
at 50 percent of a company´s tax liability.
- Extending the state´s sales tax exemption on equipment used in manufacturing to also
cover equipment used in research and development.
- Making equipment used for research and development exempt from property taxes.
"Better solutions to products are just beyond the horizon," Doyle said. "
We have always been a state that made things, and we will always continue to be a state
that makes things."
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