Wisconsin bill giving $3 billion incentives to Foxconn advances
Source: Reuters
(Reuters) - Wisconsin's Republican-controlled State Assembly voted 59-30 on Thursday to approve a bill that paves the way for a $3 billion incentives package for a proposed liquid-crystal display plant by Taiwan's Foxconn.
The plan still needs to be approved by the joint finance committee, which has members from both the Assembly and the state Senate, as well as the Senate before it can go to the governor. The finance committee and the Senate are also controlled by Republicans.
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.
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#TECHNOLOGY NEWS AUGUST 17, 2017 / 10:02 AM / 6 MINUTES AGO
Suzannah Gonzales
Read more: http://www.reuters.com/article/us-foxconn-wisconsin-idUSKCN1AX101
sandensea
(21,688 posts)That's a GOP business incentive for you.
Squinch
(51,044 posts)Bengus81
(6,936 posts)But yeah...we can shell out $3 billion on the hopes a plant opens in 2020. Watch....they'll be as STUPID as what the same Rep do in our State and cities and not make any REAL restrictions on that cash as far as an opening date,number employed,wages (not just avg pay wages) employee benifits etc,etc.
Luciferous
(6,086 posts)then I read stuff like this and have no interest in moving back.
smithamandez
(1 post)its the most exciting news for now
uppityperson
(115,681 posts)Rhiannon12866
(206,277 posts)fleabiscuit
(4,542 posts)LuckyLib
(6,821 posts)and buying onto this scam is part of sucking up to the Trump Train. Wisconsinites deserve better.
pecosbob
(7,545 posts)How long will Republican morons continue to repeat this failed and discredited technique to attract business, thus jobs, thus tax revenue? This in large part has contributed to the hole in which many local governments now find themselves...this and the predatory practices of Wall Street. Don't have enough money for schools or for collecting garbage...no problem! Let's build a Noah's Ark Museum!
At very best all it does is transfer the tax burden from corporations to the individual taxpayer.
bluestarone
(17,067 posts)people get a brain
stuffmatters
(2,574 posts)Hideous Company, hideous deal.
haele
(12,684 posts)and never set up their factory, defaulting on their end of the promise?
I seem to remember they got a couple million to play with - and not pay back - before they pulled the plug and sold the property they had bought - and no jobs were ever made.
What makes anyone think they would be any different just because it's a couple years later and a different state?
Haele