WisDOT MAPSS - Accountability - Transportation Facilities Economic Assistance and Development (TEA) Grants - The continuous effort to use public dollars in the most efficient and cost-effective way.
Transportation Facilities Economic Assistance and Development (TEA) Grants - The continuous effort to use public dollars in the most efficient and cost-effective way.When businesses want to expand within or move to Wisconsin, they can apply for a TEA grant to defray a portion of transportation facility improvement costs associated with the move. The target is to achieve a ratio of jobs reported to jobs guaranteed of 1.00.
The Transportation Facilities Economic Assistance and Development (TEA) program provides state matching grants to local governments to complete road, rail, harbor, and airport improvement projects that help attract employers to Wisconsin, or that encourage businesses to remain and expand within Wisconsin. The goal is to attract and retain business in Wisconsin, which increases the number of local job opportunities, improves the local tax base, and boosts spending in the local economy.
The most significant factor affecting this measure is unpredictable economic factors that can take place between the applicant receiving the grant and their 3-year reporting. At time of award, the applicant identifies the number of jobs to be created or retained from the proposed project. There are various factors that could impact a business’s job creation/retention goal, such as company buyouts, downsizing, or restructuring (or even national/global impacts like recessions, pandemics or an economic boom).
WisDOT continues to partner with other state agencies as well as regional and local economic development agencies to promote the availability of the TEA program. Outreach is conducted at various business and industry functions including Wisconsin Economic Development Corporation (WEDA) conferences, regional economic development conferences, and other region- or state-sponsored events.