Newsmakers: Wisconsin Economic Development Corporation Secretary Reed Hall
The Wisconsin Economic Development Corp. (WEDC), the quasi-public entity that replaced the old Commerce Development in 2011, suffered from a lack of investment oversight in its first year, the interim head of WEDC said in a Newsmakers interview on Jan. 4. Reed Hall, the former executive director of Marshfield Clinic, said WEDC problems – which he compared to a bank not having enough “loan officers” — are being fixed. Reed also said some of the $500 million invested to help companies grow or locate or stay in Wisconsin will be lost due to bankruptcies, but he did not estimate the potential losses. A permanent WEDC secretary is expected to be named in a few weeks by Gov. Scott Walker.