Gov. Walker signs $3 billion Foxconn incentives package

Gov. Walker signs $3 billion Foxconn incentives package

Cheryl Sanders
September 19, 2017

The package would be the largest ever offered by a state to a foreign group in USA history, according to the Associated Press, and would be 10 times larger than any other incentive package ever offered in Wisconsin.

Republicans in the Assembly, however, widely supported the signing of the bill.

"Today Wisconsin is officially saying yes to a $10 billion development project, 13,000 careers and new opportunities throughout Wisconsin", Vos said in a statement Monday. The Republican governor's team brokered the Foxconn deal - which he calls transformational.

The measure passed both houses of the state Legislature last week along largely party lines, with all but several Republicans voting for the bill and all but a handful of Democrats from the Racine and nearby Kenosha area voting against it.

Foxconn, formally known as Hon Hai Precision Industry Co., plans to invest $10 billion to build a 20 million square-foot campus in southeastern Wisconsin that could employ up to 13,000 workers over a period of six years. "Rather than creating special loopholes for a foreign corporation, Democrats remain committed to prioritizing Wisconsin workers, Wisconsin business, and Wisconsin taxpayers", reads a statement from Senate Democratic Leader Jennifer Shilling (D-La Crosse). Walker said the contract will also contain more tools to tighten up the job promises, including laying out specific salaries.

"To a person everyone brought up Foxconn". "Even the people from Samsung said that to me, which is unbelievable _ that's a competitor!"

"Southeast Wisconsin truly has the opportunity to lead the world in advanced manufacturing", she said. Milwaukee Bucks President Peter Feigin says he plans to contract with the company for items that will adorn the new Bucks arena.

Feigin says he speaks regularly with Foxconn execs, who've also talked about sponsorships.

"People are going to be a part of this supply chain from one end of the state to the other", Walker said. He told WTMJ-AM radio Monday that the company could announce the location of the plant in the coming weeks.

The annual payout to Foxconn will be between $200 million and $250 million, according to the Wisconsin Economic Development Corporation.

The legislation includes tax credits for Foxconn, along with changes in the state permitting process and environmental reviews for the proposed factory. Critics have ripped a provision in the bill that would send appeals of any legal challenge straight to the state Supreme Court, which leans conservative.

Other reports by iNewsToday