Leave it to Democrats like Gov. Tony Evers to fix the messes left behind by Republicans like former Gov. Scott Walker…
A new agreement between Foxconn Technology Group and the state announced Tuesday dramatically scales back the number of jobs the company promises to create — to only 1,454 — and reduces the capital investment to a fraction of what was originally promised.
In return, Foxconn stands to receive far less state cash.
The agreement allows for Foxconn to get a maximum of $80 million in tax credits compared to the previous agreement which would have granted the company $2.85 billion in state money if the company met certain hiring and capital investments.
Foxconn four years ago promised to bring 13,000 high-tech jobs to Wisconsin and create a massive Racine County facility that former Gov. Scott Walker and President Donald Trump, both Republicans, heralded as transformational for the state’s economy.
No significant manufacturing has taken place at the Mount Pleasant campus that the company developed with assistance from state and local government.
Anyone with half a brain knew when former Gov. Walker announced the Foxconn deal that it was not likely to end well for the taxpayers of Wisconsin and thus far it hasn’t, so it’s good news to see Gov. Evers setting realistic goals/incentives for Foxconn.
Unfortunately though, millions of dollars have already been spent by local governments on infrastructure for a facility that will likely never lead to the kind of economic development they were expecting – and that’s grim news considering how much money they’ve already borrowed and spent.
Here’s more on Scott Walker’s Foxconn debacle: