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Audits show lax oversight by Wisconsin agency counting Foxconn jobs
Source: Reuters
#BUSINESS NEWS AUGUST 11, 2017 / 3:14 PM / 3 HOURS AGO
Audits show lax oversight by Wisconsin agency counting Foxconn jobs
Dave McKinney
6 MIN READ
CHICAGO (Reuters) - The Wisconsin agency tasked with holding Foxconn accountable for delivering up to 13,000 jobs in exchange for $1.5 billion in state payroll tax credits has a history of failing to verify job-creation claims and rewarding companies that fall short of quotas, according to state audits.
The deal to secure Foxconn's proposed LCD screen plant announced late last month is one of the largest economic development agreements in U.S. history and counts President Donald Trump, who rode into office on promises of creating manufacturing jobs, as one of its proponents.
A May audit found the Wisconsin Economic Development Corporation (WEDC) did not independently verify jobs numbers claimed by recipients of tax credits and posted inaccurate jobs figures online. Earlier such reports by the non-partisan Legislative Audit Bureau identified similar shortcomings in 2013 and 2015.
The agency intends to hire more staff to help manage the Foxconn project and is “committed to providing the highest level of transparency, accountability and accuracy in all of its awards,” spokesman Mark Maley said.
-snip-
Audits show lax oversight by Wisconsin agency counting Foxconn jobs
Dave McKinney
6 MIN READ
CHICAGO (Reuters) - The Wisconsin agency tasked with holding Foxconn accountable for delivering up to 13,000 jobs in exchange for $1.5 billion in state payroll tax credits has a history of failing to verify job-creation claims and rewarding companies that fall short of quotas, according to state audits.
The deal to secure Foxconn's proposed LCD screen plant announced late last month is one of the largest economic development agreements in U.S. history and counts President Donald Trump, who rode into office on promises of creating manufacturing jobs, as one of its proponents.
A May audit found the Wisconsin Economic Development Corporation (WEDC) did not independently verify jobs numbers claimed by recipients of tax credits and posted inaccurate jobs figures online. Earlier such reports by the non-partisan Legislative Audit Bureau identified similar shortcomings in 2013 and 2015.
The agency intends to hire more staff to help manage the Foxconn project and is “committed to providing the highest level of transparency, accountability and accuracy in all of its awards,” spokesman Mark Maley said.
-snip-
Read more: http://www.reuters.com/article/us-foxconn-wisconsin-fears-idUSKBN1AR23Z
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