At the height of economic recession, Wisconsin’s Small Business Development Center assisted more than 250 companies in developing successful business plans and helped bring in more than $22 million in capital gains.
Now, as the national economy – and the state economy – recovers, business formation in Wisconsin is on the rise.
According to the Dunn County News, certain regions of the state are experiencing substantial business growth. Christopher Smith, Dunn County’s economic development corporation director, told the source the number of startups is increasing. “We had 33 inquiries into startup business for the entire year of 2009, and we’ve already had 15 this year.”
For entrepreneurs considering business incorporation, the state has a lot to offer. In addition to the resources of the Small Business Development Center, the state provides a number of unique corporate property tax exemptions, as well as tax credits for equipment and materials for a number of business types.
Additionally, the State Department says business owners enjoy high standards of living in Wisconsin. It has a sound education system that creates a large pool of potential workers and boasts low crime rates.
Business formation in the state will help it continue its path out of the recession. Moreover, forming a company anywhere in the U.S. may help the overall national economy and reduce the lingering 9.7 percent unemployment rate.