Wisconsin bill giving $3 billion incentives to Foxconn advances

[Eugene]

Source: Reuters

(Reuters) - Wisconsin's Republican-controlled State Assembly voted 59-30 on Thursday to approve a bill that paves the way for a $3 billion incentives package for a proposed liquid-crystal display plant by Taiwan's Foxconn.

The plan still needs to be approved by the joint finance committee, which has members from both the Assembly and the state Senate, as well as the Senate before it can go to the governor. The finance committee and the Senate are also controlled by Republicans.

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.

-snip-

#TECHNOLOGY NEWS AUGUST 17, 2017 / 10:02 AM / 6 MINUTES AGO
Suzannah Gonzales


Read more: http://www.reuters.com/article/us-foxconn-wisconsin-idUSKCN1AX101

[sandensea]

1. They'll take the loot, then move to Cambodia after three years.

That's a GOP business incentive for you.

[Squinch]

2. Yep. This is basically Wisconsin getting mugged.

[Bengus81]

3. Same clowns that if in US Congress wouldn't vote for a ten cent raise in MW...

But yeah...we can shell out $3 billion on the hopes a plant opens in 2020. Watch....they'll be as STUPID as what the same Rep do in our State and cities and not make any REAL restrictions on that cash as far as an opening date,number employed,wages (not just avg pay wages) employee benifits etc,etc.

[Luciferous]

4. My husband would like to move back to Wisconsin to be closer to our families, but

then I read stuff like this and have no interest in moving back.

[smithamandez]

9. That is so good

its the most exciting news for now

[uppityperson]

10. Welcome to du, but what?

[Rhiannon12866]

11. That's an excellent question!

[fleabiscuit]

12. Reads like a BOT response. nt

[LuckyLib]

5. This a crime in the making. Guv Walker is an idiot,

and buying onto this scam is part of sucking up to the Trump Train. Wisconsinites deserve better.

[pecosbob]

6. Why not just give them the entire city, FFS?

How long will Republican morons continue to repeat this failed and discredited technique to attract business, thus jobs, thus tax revenue? This in large part has contributed to the hole in which many local governments now find themselves...this and the predatory practices of Wall Street. Don't have enough money for schools or for collecting garbage...no problem! Let's build a Noah's Ark Museum!

At very best all it does is transfer the tax burden from corporations to the individual taxpayer.

[bluestarone]

7. when the hell will

people get a brain

[stuffmatters]

8. Includes 1 billion for Foxconn employee anti suicide nets

Hideous Company, hideous deal.

[haele]

13. Didn't Foxconn recently pull this with another state, got money and incentives to buy property...

and never set up their factory, defaulting on their end of the promise?

I seem to remember they got a couple million to play with - and not pay back - before they pulled the plug and sold the property they had bought - and no jobs were ever made.

What makes anyone think they would be any different just because it's a couple years later and a different state?

Haele