Wisconsin executives are optimistic about the future of the state's business climate with Republicans in charge. But they also agree eliminating the state's projected $2.5 billion budget deficit is priority.
"I think Governor-elect Scott Walker and the state Legislature will be completely preoccupied initially solving the budget problems," said Mark Bugher, director of the University Research Park near the University of Wisconsin-Madison. "It's a significant problem they've inherited and it will take a herculean effort to get a balanced budget together and passed by July 1."
Bugher understands the difficulties firsthand. He is a former secretary of the Department of Revenue and secretary of the Department of Administration, posts he held under Republican Gov. Tommy Thompson.
Bugher said legislation to ease Wisconsin's regulatory climate and make it more attractive to businesses eventually will come, but it won't come overnight.
"My guess is we won't see other policy action during the next six months," he said.
Executives around the state contacted by The Post-Crescent on Wednesday shared similar sentiments following a Republican landslide in Tuesday's mid-term elections, which saw the party capture the governor's office as well as several federal and state-level legislative seats. The executives favor "business-friendly" lawmakers in control, but understand other issues will take precedent.
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