WEDC heads say problems serious but fixable - WKOW 27: Madison, WI Breaking News, Weather and Sports

WEDC heads say problems serious but fixable


MADISON (WKOW) -- Leaders from the Wisconsin Economic Development Corporation say serious but fixable problems have been uncovered in the agency.

The 17-month old quasi-public economic development agency lost track of $56 million in loans to businesses.

While no evidence of any misconduct has been uncovered, interim WEDC Secretary Reed Hall and deputy secretary Ryan Murray say in a memo to board members that they did find isolated problems related to internal documentation and reporting processes.

Murray says there were a number of what he called "disjointed" efforts to address the tracking of the loans, but the issue wasn't pushed.

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