“Wisconsin Gov. Scott Walker defended Wednesday a $3 billion tax incentive package to lure Taiwan’s Foxconn Technology Group to the state, amid a growing chorus of concerns about the hefty bill to taxpayers,” Shayndi Raice reports for The Wall Street Journal. “‘We believe this is transformational,’ Mr. Walker said in an interview with The Wall Street Journal. ‘We think in terms of attracting talent across the country and around the world.'”
“In a White House ceremony last month, President Donald Trump announced that Foxconn would be investing $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 up to six years,” Raice reports. “The facility, which would build liquid-crystal display technology, or LCD, screens used for Apple Inc.’s iPhone, would be the first of its kind in North America.”
“Mr. Walker said the benefits of the deal went beyond the number of jobs that would be created from the facility itself,” Raice reports. “Instead, he said, the deal should be viewed as a way to make Wisconsin a hub for technology jobs and venture capital investment. He said as a “cutting-edge technology” firm, Foxconn would help the state attract young talent and retain its college graduates. He also thinks its most crucial benefit would be changing the popular image of Wisconsin and the benefits of living there.”
Read more in the full article here.
MacDailyNews Take: Of all of the reports we’ve seen, this one is the outlier in its claim that the plant will produce LCDs for iPhones. Most other reports state that the Foxconn plant would make LCD panels used in computer screens, televisions and the dashboards of cars. So, we’re not sure if this is merely an error by the WSJ reporter, conflating Foxconn with iPhone, or new information. We’ve contacted the reporter for clarification and will add any information we receive to this Take.
UPDATE: 11:22am EDT: The WSJ reporter, Shayndi Raice, has contacted MacDailyNews, explaining, “The line was meant to be implying that LCD screens are used in iPhones, not that the facility itself will build parts for iPhones. We realize it was misleading and are fixing it for clarification.”
We will add the WSJ‘s revision when it becomes available.
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