Foxconn Deal – is it a go?
Last week Governor Scott Walker approved the new Foxconn plant
in Wisconsin. Foxconn is investing $10 billion dollars to build a factory that
makes LCD screens. This is expected to create around 3,000 to 13,000 new jobs.
How much will this
cost?
The state of Wisconsin will be paying around $15,000 to
$19,000 dollars per job year.
Is it worth it?
Incentives:
- $1.5 billion in state income tax credits for job creation
- Up to $1.35 billion in state income tax credits for capital investment
- Up $150 million for sales and use tax exemption
Although Walker is being slammed by this deal, he is holding his head up high and continuing with the deal. In August, Walker's spokesman stated " This is a once-in-a-lifetime opportunity that brings high-tech manufacturing back to America, right here in Wisconsin. The Company's investment is $10 billion, which is $6.70 of private investment for every $1 of pubic funds. This is an excellent investment for our entire state."
Want more info? – Check out the links below!
- http://money.cnn.com/2017/09/18/news/scott-walker-signs-foxconn-deal/index.html
- http://www.chicagotribune.com/business/ct-foxconn-wisconsin-handwritten-deal-20170831-story.html
- http://www.latimes.com/business/la-fi-foxconn-wisconsin-20170918-story.html
