There is no doubt that Wisconsin has seen an economic turnaround over the last six years and, by almost every measurement, citizens and Wisconsin businesses have benefitted from the strides we’ve made since 2011.
Our unemployment rate of 3.7 percent is the lowest it has been since November 2000, and more people are employed today than at any point in Wisconsin’s history. The state is in the top 10 for our workforce participation rate in the U.S. – more than five percentage points above the national figure.
Our pro-business policies have resulted in $4.7 billion in tax cuts for state businesses and residents, and our state and local tax burden is the lowest it has been in 40 years. Our tax reform policies include the adoption of the Manufacturing and Agriculture Tax Credit, which virtually eliminates the corporate income tax rate for businesses in those two industries.
At the same time, we have invested more than $110 million in workforce development to help better prepare workers for the jobs of today and tomorrow. This includes $18 million in Fast Forward training grants and $9 million for youth apprenticeship programs.
A dramatically improved business climate has spurred the creation of more than 200,000 private sector jobs and 50,000 new businesses since 2011 as the state’s entrepreneurs are feeling more confident about going out on their own.
We are working and winning for Wisconsin. And we’re not done yet.
I’m proud of the gains we’ve made in putting more people to work, reducing taxes, making government more efficient, and investing in our schools and infrastructure, but there is more that needs to be done to ensure the economic success we’ve experienced over the last six years continues.
That is why the state budget I presented to the legislature calls for more investment in workforce development initiatives, the highest level of K-12 funding in our history, and a continued reduction in taxes for Wisconsin’s hard-working citizens and job creators. If our tax proposals are approved, we will provide more than $8 billion in total tax relief from 2011 – 2019.
Those initiatives, combined with the efforts of business and community leaders across the state, will help ensure the state is well-positioned for success in meeting the challenges and capitalizing on the opportunities of an ever-changing global economy.
I look forward to working with you as we continue to move Wisconsin forward.
Sincerely,
Governor Scott Walker
