WAUSAU, WI (WSAU) — Governor Scott Walker has formally recommended 120 Wisconsin Economic Opportunity Zones to the US Treasury for approval, including two zones in Wausau.
Wausau Economic Development Director Chris Schock says there’s still a few unknowns with the program but that doesn’t mean it won’t be a good thing for the city. “I think they are still flushing out the details, but I think a program like this opens doors for investors to be able to put money into public and private projects that otherwise might not be feasible from an investment perspective.”
Schock says the recommendations were made based on census tracks. Wausau’s recommendations focus on the core of the city and the west side, which he says are appropriate. “[Those areas] from a census perspective need the investment and improvements the most.”
There’s no hard timeline on when the final recommendations will be approved by the US Treasury. “We were very competitive in gaining two positions much like our peers in La Crosse and other communities our size. I think that makes good sense at least from the state’s perspective. How the federal government will review these is still a bit of a mystery so we will wait and see, but obviously we are advocates for Wausau to be included [in the final list],” added Schock.
The Governor has also recommended two zones in Stevens Point and one zone each for Wisconsin Rapids, Marshfield, Merrill, Antigo, and Rhinelander.
