As part of its "Open for Business" campaign, Wisconsin has approved new tax deductions for small businesses that create jobs and has changed the state's Department of Commerce into the Wisconsin Economic Development Corporation. Both laws were passed during the state legislature's Open for Business special session that aims to help the private sector create 250,000 new jobs in Wisconsin by 2015.

Gov. Scott Walker signed the tax relief law on Feb. 4 and was scheduled to sign the legislation to create the Wisconsin Economic Development Corporation on Wednesday. The tax relief bill was the fifth special session bill Walker has signed into law. The legislation will give businesses a tax deduction for each job they create, and the size of the deduction varies depending on the size of the business creating the jobs. "We are encouraging businesses to create jobs and put Wisconsinites to work," Walker said in a statement. "I'm pleased that this legislation like so many of our other jobs bills passed with bipartisan support."

Walker said previously that the Wisconsin Economic Development Corporation would focus solely on business growth and job creation. "It will help re-align state government from hindering job growth to promoting it," Walker said.

Read more about Wisconsin's new small business tax relief bill and the creation of the Wisconsin Economic Development Corporation.

Related Stories