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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWisconsin lawmakers debate billions in incentives for Foxconn plant
Source: Reuters
Wisconsin lawmakers debate billions in incentives for Foxconn plant
Suzannah Gonzales
3 MIN READ
(Reuters) - The Wisconsin State Assembly on Thursday will consider a $3 billion incentive package for a proposed liquid-crystal display factory by Taiwan's Foxconn, the first vote on the deal by a chamber of the state's Republican-controlled legislature.
Foxconn, an electronics manufacturer formally known as Hon Hai Precision Industry Co Ltd (2317.TW), hopes to open a $10 billion plant in 2020 at a 1,000-acre site in southeastern Wisconsin.
Foxconn is a major supplier to Apple Inc (AAPL.O) for its iPhones.
Wisconsin's Republican governor, Scott Walker, ordered the state legislature into special session on Aug. 1 to consider the incentive package, which would award Foxconn $3 billion over 15 years in mostly cash incentives.
Foxconn, Walker and other leaders announced the deal on the incentives last month in a White House ceremony. It must now be approved by lawmakers.
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Read more: http://www.reuters.com/article/us-foxconn-wisconsin-idUSKCN1AX101
Canoe52
(2,949 posts)And another screwing of the rest of us.
Wellstone ruled
(34,661 posts)Where in the hell does the State find the money. Walker and Fitzgerald have raided every Department in order to give Tax Breaks to a hand full of their Supporters. Wisconsin's safety net is,for the most part is gone,again,wealth transfer to their supporters.
Looks like the transformation of Wisconsin to the Koch Brothers State of Kansas has been completed. My home state has gone from first too worst.
Canoe52
(2,949 posts)Wellstone ruled
(34,661 posts)Seen the hand writing on the wall years ago. Sold our property and interests years ago.
central scrutinizer
(11,662 posts)Ever delivering the eventual net gains that are claimed? Every one I can think of here in Oregon have just been rip offs. The company either shutters the plant after a short time or is taken over by some hedge fund that sells off all the assets.
Snake Plissken
(4,103 posts)It would be cheaper for taxpayers to hire government employees and pay them to do the free labor Foxconn demands, rather than give them 3 billion dollars