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Eugene

(61,948 posts) Thu Aug 17, 2017, 01:09 PM Aug 2017

Wisconsin lawmakers debate billions in incentives for Foxconn plant

Source: Reuters

#TECHNOLOGY NEWS AUGUST 17, 2017 / 6:02 AM / 6 HOURS AGO

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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6 replies

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Wisconsin lawmakers debate billions in incentives for Foxconn plant (Original Post) Eugene Aug 2017 OP

Oboy, another give away to the corporations Canoe52 Aug 2017 #1

This is just the tip of the berg. Wellstone ruled Aug 2017 #2

Sorry to hear, beautiful state you have there. Canoe52 Aug 2017 #4

We only have Siblings living in Wisconsin at this time. Wellstone ruled Aug 2017 #5

Are there any examples of these "incentives" central scrutinizer Aug 2017 #3

This is beyond ridiculous, it equates to 1 million tax dollars per job Snake Plissken Aug 2017 #6

Canoe52

(2,949 posts)

1. Oboy, another give away to the corporations

Reply to Eugene (Original post)

Thu Aug 17, 2017, 01:31 PM

Aug 2017

And another screwing of the rest of us.

Wellstone ruled

(34,661 posts)

2. This is just the tip of the berg.

Reply to Canoe52 (Reply #1)

Thu Aug 17, 2017, 01:51 PM

Aug 2017

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)

4. Sorry to hear, beautiful state you have there.

Reply to Wellstone ruled (Reply #2)

Thu Aug 17, 2017, 04:44 PM

Aug 2017

Wellstone ruled

(34,661 posts)

5. We only have Siblings living in Wisconsin at this time.

Reply to Canoe52 (Reply #4)

Thu Aug 17, 2017, 05:25 PM

Aug 2017

Seen the hand writing on the wall years ago. Sold our property and interests years ago.

central scrutinizer

(11,662 posts)

3. Are there any examples of these "incentives"

Reply to Eugene (Original post)

Thu Aug 17, 2017, 02:02 PM

Aug 2017

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)

6. This is beyond ridiculous, it equates to 1 million tax dollars per job

Reply to Eugene (Original post)

Thu Aug 17, 2017, 05:29 PM

Aug 2017

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

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