Capitol Notes: New Foxconn Deal Amounts To Any Other Jobs Incentive Package For Wisconsin
Foxconn Technology Group still hasn’t revealed what it plans to manufacture at the plant it’s building in Racine County near I-94. But that didn’t stop Gov. Tony Evers from inking a new agreement with the Taiwanese tech giant last week.
Foxconn started building a massive LCD screen manufacturing complex in Mount Pleasant in 2018. But then markets changed, so now the company is constructing a scaled-down operation.
The state approved a contract last week for Foxconn to qualify for $80 million in taxpayer subsidies — if it employs about 1,400 people with an average annual salary of about $53,000. That’s down from nearly $4 billion in state and local credits the company could have received under the original plan. That deal included a commitment of 13,000 jobs from Foxconn.
In this week’s Capitol Notes, Marti Mikkelson asks R Ross of wispolitics.com what will be the impact of the new agreement on Wisconsin.