Wisconsin Department of Commerce Newsletter
August 2006
Commerce Certifies Over 50 Qualified New Business Ventures

The Department of Commerce (Commerce) has certified over 50 new Qualified New Business Ventures (QNBVs). 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 Wisconsin 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: Cheryl Gain, 608/261-7721, cgain@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 Commerce is not an endorsement of the quality of management of that fund. Commerce is not liable for damages or losses to an investor.

-- Shelly Harkins

The newsletter is issued electronically every other month.

Please send comments or questions to Barbro McGinn, editor.

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