The Foxconn deal Trump championed wont make Wisconsin money for 25 years, report says

[riversedge]

And we got duped again! Well, not all of us. Most Wisconsinites know Walker is as much of a con man as Trump is!


The Foxconn deal Trump championed won’t make Wisconsin money for 25 years, report says

https://www.washingtonpost.com/news/wonk/wp/2017/08/09/the-foxconn-deal-trump-championed-wont-make-wisconsin-money-for-25-years/?utm_term=.7d872adb755c

By Danielle Paquette August 9 at 4:53 PM


https://img.washingtonpost.com/wp-apps/imrs.php?src=&w=1484

President Trump hugs Vice President Pence, left, and Wisconsin Gov. Scott Walker after announcing the first U.S. assembly plant for electronics giant Foxconn at the White House on July 26. (Jabin Botsford/The Washington Post)





The deal President Trump called “incredible” and Gov. Scott Walker hailed as a “once-in-a-century” opportunity to bring the electronic manufacturing giant Foxconn to Wisconsin wouldn’t generate profits for the state until 2042, a new legislative analysis projects.

The state’s Legislative Fiscal Bureau, a nonpartisan agency that analyzes proposed economic investments, looked at Walker’s bid last month to bring a new flat-screen-display factory to the state in exchange for a roughly $3 billion-incentives package.

Foxconn said it would break ground in southeastern Wisconsin and hire 3,000 workers there over the next four years, with the “potential” to create 13,000 jobs.


If the company hits that growth target, Wisconsin would break even after 25 years, said Rob Reinhardt, a program manager who worked on the report. If 13,000 jobs never materialize, it could take decades longer.

“We kind of dig a hole for ourselves,” Reinhardt said.

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[atreides1]

1. They won't make anything!

If this other story is accurate, Foxconn plans to automate most of it's Chinese factories by 2020!

https://www.theverge.com/2016/12/30/14128870/foxconn-robots-automation-apple-iphone-china-manufacturing


"Foxconn, the Taiwanese manufacturing giant behind Apple’s iPhone and numerous other major electronics devices, aims to automate away a vast majority of its human employees, according to a report from DigiTimes. Dai Jia-peng, the general manager of Foxconn’s automation committee, says the company has a three-phase plan in place to automate its Chinese factories using software and in-house robotics units, known as Foxbots."

" The company said last year that it had set a benchmark of 30 percent automation at its Chinese factories by 2020. The company can now produce around 10,000 Foxbots a year, Jia-peng says, all of which can be used to replace human labor. In March, Foxconn said it had automated away 60,000 jobs at one of its factories."


If Foxconn is going to do this in its Chinese factories, where the pay and benefits suck...you can bet they already have plans to do this in any factory they build in the US! So, Wisconsin is getting ready to give away $3 billion and likely not get anything accept 3,000 jobs with median pay and few benefits!!!

[rufus dog]

5. It will be a combination of this and other future changes

But you are correct, this deal won't benefit Wisconsin at all, but is a windfall for Foxconn

[Angry Dragon]

2. the cost per job

3000000000 / 13000 = 230769.23
what a deal


add: Foxbots, is that what they call Fox watchers??

[Gothmog]

3. This is a horrible deal for Wisconsin

[pansypoo53219]

4. tax deal are THEFT from the body politic. let the citizens pay for the oligarchs.