The Assembly Committee on Jobs, the Economy and Small Business met Tuesday about the current state of the Wisconsin economy.

Chief Economist for the Wisconsin Department of Revenue in the Division of Research and Policy John Koskinen, along with Executive Assistant at the Department of Commerce Zach Brandon, testified before the committee to lend their expertise in the workings of the state economy.

According to committee Chair Rep. Louis Molepske Jr., D-Stevens Point, Koskinen said the Wisconsin economy is expected to outperform the national levels of economic growth in 2010.

Molepske said this expectation is very important to the Wisconsin economy and is due largely to a strong manufacturing base and “incredibly aggressive tax strategies.”

He cited angel investment tax credits — which aims to reduce the risk and cost for wealthy individuals investing in startups to encourage economic development — as one of the major factors helping stabilize and encourage business ventures in Wisconsin.

He added despite a $6 billion budget deficit, the angel investment tax credits were increased more than threefold in the last year and venture capital credits, which apply to individuals and coportations that invest in early-stage enterprises, were also increased threefold.

He said these two tax credits help maintain large business ventures in Wisconsin, such as Mercury Marine in Fond Du Lac and Morgan Aircraft in Oostburg, which create jobs and stimulate the economies of Wisconsin communities.

The committee’s economic assessment meeting was the second of its kind this year, according to a statement released Tuesday by Rep. Rich Zipperer, R-Pewaukee.

He said for both meetings, only guests selected by Democrats were allowed to speak before the committee.

Zipperer also said in the statement that listening to only one side of the argument is not the way to find real solutions for Wisconsin.

“The rosy message that we heard from these agencies is in stark contrast to what workers and employers in the private sector have been saying and is also inconsistent with what national organizations are reporting.” Zipperer said in a statement.

His statement added that taxes on investments have been increased by $5 billion just this year and that tax increases such as these are causing companies like Kohls and Harley-Davidson to move jobs out of Wisconsin.

In contrast, Koskinen reported the jobless rate in Wisconsin is stabilizing. Unemployment rate in Wisconsin was 9.2 percent in June, decreased to 8.4 percent in August and is continuing to decline.

He said the Wisconsin economy is currently outperforming that of Minnesota and other neighboring states but admitted the economy is not “out of the concern area yet.”

He added the important factor is the “big picture toolbox” of incentives and tax credits that Wisconsin has for business ventures.

“Wisconsin is clearly effective at attracting and retaining businesses, and that is something we should be proud of,” Molepske said.