Overview
- The Forestry Revitalization Act began circulating for cosponsors Monday, with Senate President Mary Felzkowski and lead sponsor Rep. Chanz Green promoting the plan.
- The package outlines $60 million in WEDC tax credits and a $150 million state-backed grant financed by 20-year bonds on the Department of Natural Resources’ forestry account.
- Sponsors identify Synthec Fuels, partnering with Wisconsin-based Johnson Timber, as the prospective operator for a Hayward site next to an LP Building Solutions facility, while the company also considers Minnesota and Michigan.
- Company commitments cited by sponsors include at least $1.5 billion in investment over five years, roughly 150 jobs, sourcing a minimum of 80% of feedstock from Wisconsin forests, and preference for in-state contractors.
- The bill includes clawbacks to protect taxpayers if the project falls short, and Gov. Tony Evers is described as very interested but has not taken a formal position.