The Wisconsin Angel Network has asked the SEC to preserve its definitions of accredited investors, according to a letter submitted this week by WAN Director Dan Blake.

Currently, investors must have at least $1 million in net worth or $200,000 in annual income. An increase in the thresholds would decrease angel investing in Wisconsin, according to Blake.

“A contraction in angel investing would stall local economic development, university technology initiatives, and stem innovation and job growth,” Blake wrote. “In short, a higher threshold would widen the ‘flyover state’ funding gap.”

Golden Angels Investors, Wisconsin Investment Partners, Chippewa Valley Angel Investor Network, Shannon/Harris Shamrock, Angels on the Water, Northwoods Angels, New Richmond Angel Investor Network and Yahara Angels Network co-signed the letter.