Gov. Walker signs $3 billion Foxconn incentives package
Wis. Gov. Scott Walker has signed a bill providing $3 billion in incentives to Taiwanese firm Foxconn, paving the way for the touch screen manufacturer to build a $10 billion campus in southeastern Wisconsin.
The $3 billion incentives package is the largest to a foreign company in United States history.
Gov. Walker says Foxconn will create 13,000 new jobs in Wisconsin. He estimates an average yearly salary of nearly $54,000, plus benefits.
"This is about far into the future. This is about ensuring our children and our children's children will have those kind of really generational-type of opportunities," Gov. Walker says. "And that those opportunities won't be limited to the direct jobs here, the 13,000 in this region, but to the 10,000 construction jobs of which just a sample are reflected here. The firms that are going to be involved in that from all across the state."
Foxconn manufactures LCD screens for a variety of purposes, including Apple's iPhones.
The Foxconn incentives package passed the state legislature with bi-partisan support. However, some democrats remain critical of the plan, arguing it creates a loophole for Foxconn at the expense of Wisconsin taxpayers.
“Gov. Walker and Legislative Republicans are putting home-grown businesses at a competitive disadvantage while committing taxpayers to decades of economic costs and liabilities. 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).
Foxconn and the Wisconsin Economic Development Corporation will work together on a contract to execute the incentives.
Foxconn has not yet announced a location for the Wisconsin campus. It's believed the company plans to build in Racine County.
Gov. Walker expects the company will break ground in spring 2018. A current timeline calls for the facility to be open by 2020.
STATEMENTS ON SIGNING OF FOXCONN BILL
“The Foxconn incentive bill is one of the most important pieces of legislation in our lifetime and I’m pleased that it received bipartisan support. The Foxconn project is a worthwhile investment that will transform our state and help build a strong, healthy economy.” - Assembly Speaker Robin Vos (R-Rochester).
“Wisconsin Republicans have fought for bold reforms that put hard-working families first. Foxconn’s investment means tens of thousands of good-paying, family-supporting jobs that will transform Wisconsin’s economy – allowing more Wisconsinites opportunity and the chance for success. Thanks to the leadership of Governor Walker and our Republican leaders, Wisconsin’s future is bright.” - Republican Party of Wisconsin.
“Gov. Walker and Legislative Republicans are putting home-grown businesses at a competitive disadvantage while committing taxpayers to decades of economic costs and liabilities. Rather than creating special loopholes for a foreign corporation, Democrats remain committed to prioritizing Wisconsin workers, Wisconsin business, and Wisconsin taxpayers.” - Senate Democratic Leader Jennifer Schilling (D-La Crosse).