Wisconsin Department of Commerce Newsletter
August 2005
Commerce Certifies 5 More Qualified New Business Ventures

According to Commerce Business Development officials, the department has certified five Qualified New Business Ventures (QNBVs) since the last newsletter. Early-stage businesses conducting pre-commercialization activity related to proprietary technology may be designated as QNBVs. This designation may assist businesses in their efforts to attract investors by making state tax credits available to individuals and groups investing in those businesses.

A business may be designated as a QNBV if it meets the following criteria:

  • The business must be engaged in, or must have committed to engage in, one of the following:
    1. Developing a new product or business process
    2. Manufacturing, agriculture, processing, product assembly, or conducting research and development.

  • Businesses engaged in real estate development, insurance, banking, lending, lobbying, political consultation, professional services provided by attorneys, accountants, business consultants, physicians or health care consultants, wholesale or retail trade, leisure, hospitality, transportation, or construction are not eligible for the program.

QNBVs will be certified by Commerce on an annual basis. Businesses wishing to continue their certification in the program must submit applications annually.

Businesses can receive up to $4 million in tax credit-eligible, cash equity investment, of which no more than $1 million in tax credit-eligible investment may come from angel investors.

For a complete list of approved QNBVs visit commerce.wi.gov/Act255/BD-Act255-CertifiedQNBVs.html.

For more information about QNBVs, and prior to submitting an application, please contact: Amy Cumblad at 608/266-2688 or e-mail her at acumblad@commerce.state.wi.us.

*Note: The State of Wisconsin does not endorse the quality of management or the potential for earnings of the certified QNBV. Furthermore, the QNBVs use of the phrase "certified" and/or "qualified new business venture" is not a recommendation or endorsement of the investment or the company by the Wisconsin Department of Commerce.

Certification of a fund by the Department of Commerce is not an endorsement of the quality of management of that fund. The Department of Commerce is not liable for damages or losses to an investor.

--Shelly Harkins, Amy Cumblad

The newsletter is issued electronically every other month.

Please send comments or questions to Barbro McGinn, editor.

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