Foxconn's corporate welfare deal will cost Wisconsin taxpayers more than 3 billion dollars

[FSogol]

The recent trumpist trumpeting about the plans of Chinese manufacturer Foxconn to open a manufacturing facility in Wisconsin omitted a few key details -- like the fact that Foxconn is being given a sweetheart tax-break that's topped up with 15 years' worth of guarantees of up to $200m/year in cash subsidies at taxpayer expense -- a record-setting taxpayer subsidy that exceeds the previous Wisconsin record-holder by a factor of fifty.

The total bill for this incentive package that Wisconsin is giving the super-profitable Chinese manufacturer? Three billion dollars.

But there's more! Wisconsin cities will also have to provide incentives, including hundreds of millions more in infrastructure, and exemptions on environmental rules that will allow Foxconn to pollute watersheds, drain water habitats, and reengineer Wisconsin's freshwater sources, up to and including Lake Michigan.

Rest by Cory Doctorow at:
http://boingboing.net/2017/07/29/we-do-get-fooled-again.html

[populistdriven]

1. "The Foxconn plant is expected to need large amounts of water from Lake Michigan."...

Did anybody tell the Zebra Mussels?