Wisconsin state Assembly approves bill paving the way for $3 billion in incentives for Foxconn plant

“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,” Suzannah Gonzales reports for Reuters.

“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 Senate are also controlled by Republicans,” Gonzales reports. “Foxconn, an electronics manufacturer formally known as Hon Hai Precision Industry Co Ltd, 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 for its iPhones.”

“‘”We are ready to take advantage of this historic opportunity… and build a long-lasting relationship with Foxconn,’ Wisconsin Governor Scott Walker, a Republican who helped negotiate the deal, said in a statement,” Gonzales reports. “Foxconn, Walker, President Donald Trump and other leaders announced the deal on the incentives last month in a White House ceremony. ‘We look forward to continuing to work with them to transform Wisconsin’s economy and make it a center of worldwide high-tech manufacturing,’ Foxconn said in a statement, referring to the legislature.”

Read more in the full article here.

MacDailyNews Take: Hey, make a bunch of those new, forthcoming Apple pro displays there in Wisconsin, too!

SEE ALSO:
$10 billion Wisconsin plant to accelerate Foxconn transformation – August 16, 2017
Foxconn considering a second Wisconsin facility – August 3, 2017
Apple CEO Tim Cook dodges question of whether he promised President Trump three big, beautiful U.S. factories – August 2, 2017
President Trump announces Apple supplier Foxconn’s $10 billion investment in Wisconsin and up to 13,000 jobs – July 27, 2017
President Trump to announce Apple-supplier Foxconn manufacturing plant in Wisconsin today at 5pm EDT – July 26, 2017
President Trump says Apple CEO Tim Cook has promised 3 ‘big, beautiful’ manufacturing plants in the U.S. – July 25, 2017
China Premier Li visits Apple supplier Foxconn after CEO’s meeting with President Trump – May 10, 2017
Apple’s top manufacturing partner to meet with U.S. President Trump today – April 27, 2017
Apple supplier Sharp may begin building $7 billion U.S. plant in within months as Japan PM meets President Trump – February 8, 2017
Make America Insanely Great Again: Apple seeks to expand Made in USA manufacturing – January 9, 2017
Apple invests $1 billion in SoftBank’s massive tech fund; may help company get in President Trump’s good graces – January 4, 2017
Softbank to invest $50 billion in the U.S., create 50,000 new tech jobs after meeting with President-elect Trump – and Apple supplier Foxconn is in on the deal – December 6, 2016
President-elect Trump invites tech leaders to roundtable in Manhattan next week – December 6, 2016
President-elect Trump tells Apple CEO Tim Cook that he’d like to see Apple make products in the U.S. – November 23, 2016
President-elect Trump says Apple CEO Tim Cook called him after election victory – November 22, 2016
Apple could make iPhones in the U.S.A. under President Trump, sources say – November 17, 2016
Japan’s Softbank just became one of Apple’s most important suppliers – July 18, 2016

46 Comments

  1. Paid for in year five. The rest is gravy. Plus income taxes, sales taxes, local business growth (restaurants, etc.) which also pay taxes, etc. Smart move. Congrats, Wisconsin!

            1. he’s doing great, very proud of him. The best cast vote of my life.

              how many seats in Congress is the Plantation Party going to lose in 2018?

            2. I don’t recognize your plantation party. It is a construct in your small mind. (actually it is a talking point which you spout as you cannot think for yourself).

              Again, I do not recognize your delusions, just as I do not recognize the sexual predators made up, altleft. There is no altleft. Just another false equivalency. That is all you have.

            3. The uncontrolled demolition is the Plantation Party…70 lost seats in DC, over 900 seats in state legislatures since the end of The Muslim Usurper.

              keep talkin’, jackass.

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          I saw my first porn film in CYA. Actually in Stockton, but on a field trip. Lots of greek imagery in it. Long time ago.

          I hope I was able to sufficiently distract you with that dried cat turd. You really had to be there to appreciate what I am describing. See. People all have different experiences and we shouldn’t be ashamed of them like you seem to be.

          OOOssssccccaaarrrr…. There was tear gas.. wrestling 250 pound teenagers.. The keys to the segregation cells.

          A hell of a life. I hope you can say the same.

          Anyway bottwipe… just a short story.

          1. An auto-correct does not diminish the fact that you are nothing but a troll, who gets paid by the down votes.
            I guess the thousands of ads on MDN are not enough.

            1. Tell ya what. I’m willing to admit I misused word, if you’re willing to admit you are an alt-right, nazi, white supremacist, who gets paid by the post from MDN. Deal?

            2. congratulations on admitting your illiteracy, now work on your ability to discern truth.

              that part is gonna be real difficult for you…or is it “ewe?”

            3. nope, I am neither “a secret agent for MDN” and I just love women.

              however, if you “never come back again” I will certainly post a note that I approve.

              deal?

            4. Botty may love women, but they run screaming from him! I have seen his type – completely self-delusional. Women cringe when they see men like him walking towards them because they will practically have to know their own arms off to escape from the unwanted attention. Sound familiar botty? You are roughy that popular on this forum.

              You have the right to free speech, and I will defend that no matter how much I detest you. But that doesn’t mean that we support you or have any sympathy for your twisted political ambitions.

              In the future, the phrase “you voted for Trump” will be used as a major put-down.

    1. Sarah, where did you read this? The article states that Wisconsin taxpayers would be paying $3 billion in exchange for no definitive guarantee of number of workers. We would all hope it grows, but the initial estimate of 3000 full time employees doesn’t add up to a five year payoff.

      Also, are there any guarantees that the plant won’t be abandoned as soon as the corporate welfare dries up?

    2. Wisconsin has to pay for jobs since the talent and human capital left the state for greener pastures in neighboring Minnesota and elsewhere. This is due to the mindset of the current state gov’t that is hostile to education and human capital.

      Cali did not have to pay for goog, aapl, FB ect jobs. So sad.

  2. Suckers.

    Giving these tax breaks away never works out as planned. They will suck up all the incentives, and right when it should be profitable for the sate, they will close shop. State Looses, Citizens have to pay.

    1. I share the concern, governments have NEVER been good at cutting a deal where more than the politicians and the company wins out. I’m HOPING in this case they got sound advice and actually had a lawyer or two look over the contract.

      1. I don’t totally agree. Public- private partnerships can be hugely beneficial. Example : BMW in South Carolina. After the fabric mills closed, SC worked hard to retrain its workers , improve its universities, leverage its natural transportation advantages, and made a great future for its people. Now it hosts the biggest BMW plant in the world.

        But yes, there are thousands of examples of corporations getting obscene amounts of welfare with no requirement for them to make long term commitment to the community.

  3. FOXCONN IS JUST ANOTHER ECONOMIC COLONIALIST

    The deal would exempt the Foxconn plant from a host of environmental regulations, placing the local water supply and ecology at risk.

    “This is a transfer of wealth from Wisconsin taxpayers to Foxconn shareholders,” says Greg LeRoy, the head of Good Jobs First.”

    “…it won’t begin to pay off for state taxpayers for more than two decades, if then — or ever.”

    “After [union-busting] Walker privatized the state’s main job-development agency, it became ensnared in scandal after scandal while failing to make much of a mark on job growth.”

    http://www.latimes.com/business/hiltzik/la-fi-hiltzik-foxconn-wisconsin-20170811-story.html

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