Wisconsin lawmakers vote to pay Foxconn $3 billion to get new factory
Source: Ars Technica
The deal was announced last month at a White House event, although it was contingent on Wisconsin approving the massive incentives bill. President Donald Trump praised the deal, saying it was a win for anyone who "believes in the label 'Made in the USA.'"
The LCD display panels will be produced under the Sharp brand, which Foxconn purchased last year.
Democratic opponents of the deal have pointed out that paying $3 billion to get 3,000 jobs means the state subsidy amounts to around $1 million per job.
That's $66,600 per employee for each of the next 15 years, according to an analysis by Prof. Michael Hicks, an economics professor at Ball State University who opposes the deal. Foxconn will pay the workers an average of just over $53,000 per year. (Those numbers are based on the initial count of 3,000 workers.)
Read more: https://arstechnica.com/tech-policy/2017/08/wisconsin-lawmakers-vote-to-pay-foxconn-3-billion-to-get-new-factory/?comments=1
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"Christopher Balding, a professor of economics at Peking University, told CNN that "Three thousand jobs to Foxconn is irrelevant, so if they're going to be doing that in the U.S., it's not going to be people on production lines building TVs, it's going to be a small number of people watching robots build TVs."
