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Sep 19, 10:41 AM EDT

Audit: Governor's economic development corporation handed out $60m in grants, loans


MADISON, Wis. (AP) -- A new report shows Gov. Scott Walker's economic development corporation handed out $60 million in grants and loans over its first two years.

The Legislative Audit Bureau released a report Friday showing the Wisconsin Economic Development Corporation handed out about $29.9 million in grants to businesses, economic development organizations and local governments to support economic development projects over fiscal years 2011-2012 and 2012-2013.

The organization handed out about $29 million in loans over that span. The agency's total loan balances rang in at $60.5 million as of June 30, 2013. About three-quarters of that balance is tied to loans WEDC's predecessor agency, the state Commerce Department, handed out.

About $1.7 million in repayments were 90 days or more past due as of Dec. 31, 2013.

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