Governor Walker signs Arena Funding Bill at State Fair
Posted: Aug 12, 2015 11:00 AM CST | Updated: Aug 12, 2015 3:45 PM CST
Governor Scott Walker signed Wednesday morning the Bucks Arena Funding Deal at the Wisconsin State Fair.
“This is a great day for the city of Milwaukee and taxpayers across the state,” Governor Walker said. “For every dollar the state is investing in this project, state taxpayers will get a $3 return through income tax revenue. In addition, by working together on this private/public plan, we have protected our hard-working taxpayers against the major loss in tax revenue that was inevitable had we failed to reach an agreement.”
Walker said the return on the investment is a key reason for Bucks Arena Funding.
\"We know today we collect $6.5 million because NBA plays in state of Wisconsin,\" said Walker.
The state Assembly gave final legislative approval on August 1 to the deal. The arena proposal passed on a bi-partisan vote of 52-34.
The state Senate passed the Arena deal 21-10 on July 15.
Milwaukee county and city leaders need to sign off on it.
Milwaukee Bucks released this statement about Governor Walker signing the deal:
Today's signing is the culmination of an extraordinary effort from a broad coalition to not only keep the Bucks in Wisconsin, but revitalize Milwaukee. The entire Bucks family is thankful for the leadership and bipartisan support of Governor Walker, state legislators, local officials, countless organizations and the community. We will continue to work with the city and county to move this public-private partnership forward as swiftly as possible and make this world-class sports and entertainment district a reality.Peter Feigin, Bucks President
Senator Lena Taylor (D-Milwaukee) released this statement:
“The Milwaukee Bucks mean big bucks not just for Milwaukee, but for our entire state. Partisan GOP economic policies haven’t worked for Milwaukee’s economy. That’s why today is such a great day for us. Hard-working Milwaukeeans deserve a shot at a job and the American Dream. Today, we are one step closer to cranes in the sky, jobs on the ground and more money in the state coffers to fund things like public schools. This deal was one of the most bipartisan deals of this legislative session. That just goes to show that when Democrats and Republicans work together, Wisconsin wins. I hope legislative leaders have also learned that lesson and that we can look forward to more bipartisan economic development in the future.”