Walker signs $3B Foxconn package deal into law

Walker signs $3B Foxconn package deal into law”

Ryan says Foxconn will "bring a whole new sector to our economy'" with high-paying jobs.

The incentive package is the largest in USA history offered by a state to a foreign corporation.

Wis. Gov. Scott Walker has signed a bill providing $3 billion in incentives to Taiwanese firm Foxconn, paving the way for the touch screen manufacturer to build a $10 billion campus in southeastern Wisconsin. Walker said the tax subsidies spread out over 15 years would spur jobs at the 1.9 million sq m Foxconn plant, as well as prompt growth in ancillary companies and related industries.

A signing ceremony has been scheduled for this afternoon at Gateway Technical College in Sturtevant.

The bill provides almost $3 billion in cash to Foxconn if it invests $10 billion in a new flat-screen factory in southeastern Wisconsin and employs 13,000 people.

The incentive package is a record breaker.

The Foxconn incentives package passed the state legislature with bi-partisan support.

A current timeline calls for the facility to be open by 2020. Any lower court decision would be automatically stayed during the appeal.

He says he's not anxious about opposition to the incentives package. Walker insisted the package is constitutional.

There are strings. Foxconn could only get the full $3,000,000,000 if it invests $10,000,000,000 on the project and employs the 13,000 workers.

The package garnered pushback from Democratic lawmakers, who said the deal was bad for taxpayers. Foxconn is the world's largest contract manufacturer of electronics, best known for making iPhones.

Like this


19 September 2017
This is how many millions Hurricane Irma will cost insurers
Hiscox said the devastation wreaked by Hurricane Harvey on the United States will cost the insurer $150m (£110m) in claims.

19 September 2017
Donald Trump Jr. Gives Up Secret Service Protection, Seeking Privacy
According to The Times, the Secret Service must protect members of the president's immediate family until instructed to stop. It was not immediately clear whether the decision applied to his family; he and his wife, Vanessa, have five children.

19 September 2017
Clayton Kershaw allows first-ever grand slam to Aaron Altherr
The 24-year-old right-hander gave up two runs on four hits with eight strikeouts and two walks in six innings. Even with a five-week stay on the DL, Kershaw has given up 21 home runs this season, a career-high by five.

19 September 2017
Body of missing man found in Kansas vehicle park after 8 months
She contacted Kansas City International Airport to let them know her husband was missing and gave them details of his vehicle. The airport's public parking lots fall under the watch of the Kansas City Aviation Department's Airport Police Division.

19 September 2017
Winnebago Industries, Inc. (NYSE:WGO) Sees Unusual Trading Volume in Its Shares
Want to see what other hedge funds are holding WGO? Blackrock owns 1,881 shares. $51,300 worth of Winnebago Industries , Inc. Equities research analysts expect that Winnebago Industries , Inc. will post $2.32 EPS for the current fiscal year.

19 September 2017
MSO will build six of these "XP Green" painted McLaren 570GTs
The special 570GT features a Saddle Tan interior with green accents as well, another feature that serves as a nod to the F1 GT XP. In terms of both price and drivability, the Sports Series is the most accessible model line McLaren has ever made.

19 September 2017
(VRX) Shares now unchanged at $13.99 Valeant Commits $200000 to Support…
If you are accessing this article on another domain, it was stolen and reposted in violation of global copyright & trademark law. The expected VRX's profit could reach $334.67M giving the stock 3.58 P/E in the case that $0.96 earnings per share is reported.

19 September 2017
UC Berkeley Gets Ready for Milo and Free Speech Week
It was Yiannopoulos who was on campus when violent protests broke out in February. Milo Yiannopoulos interviews Erik Prince, Pamela Geller and David Horowitz.

19 September 2017
Reason to never take a selfie with a rattlesnake
Two weeks later, and the wound is still hard to look at. "I've been catching rattlesnakes since I was about 8 years old", he said. But he's not questioning if it's worth the risk that your dinner may bite back.

19 September 2017
Jefferies Group LLC Reaffirms "Sell" Rating for Mellanox Technologies, Ltd. (MLNX)
Guggenheim Cap Ltd Liability Co holds 0% of its portfolio in Mellanox Technologies, Ltd. (NASDAQ:MLNX) for 20,789 shares. Allianz Asset Management Ag decreased Mellanox Technologies Ltd (MLNX) stake by 63.17% reported in 2016Q4 SEC filing.