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
Jean Grey Returns This Winter In Phoenix Resurrection
Unlike the last time she came back from the great beyond, many of Jean's friends and family are now dead themselves. PHOENIX RESURRECTION goes on sale December 27th just in time to celebrate the new year.

19 September 2017
Dustin Pedroia (head) exits Monday's game for Red Sox
He now has a career-low (for a full season) 18 doubles on the year, to go along with seven home runs and 58 RBIs. Eduardo Nunez will likely step in at second base once again until Pedroia returns to full strength.

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
IUML announces Khader as UDF candidate for Vengara bypoll
For those who are not familiar with the developments, the Vengara Assembly bypoll is scheduled to be held on October 11. On Monday, the Indian Union Muslim League (IUML), part of the opposition United Democratic Front (UDF), named K.N.A.

19 September 2017
Snake catcher removes venomous snake from family's toilet
A live video of the recovery effort was uploaded on the Gold Coast and Brisbane Snake Catcher Facebook page on Sunday. The snake catcher tries to flush it out at first, while setting the scene for the viewers' worst nightmares.

19 September 2017
Manchester United's David de Gea Obtains 100th Clean Sheet
When you look at the goalkeepers with the most clean sheets during their United careers, Schmeichel tops the list with 180. De Gea should continue his rise to the best goalkeeper in the world over the next few years.

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.

19 September 2017
White Supremacist Church Shooter Dylann Roof Wants To Fire Jewish Lawyer
In the three-page letter, Roof - a self described "white nationalist" - asks for new attorneys. Yates and Mirchandani were appointed after Roof was sentenced to death in January.

19 September 2017
Seattle city council to pick acting mayor Monday
Among the tasks facing Burgess during his brief stint as mayor will be presenting the council with the city budget next Monday. Bagshaw said that it will be helpful to have Burgess as mayor while the council tackles the budget in the coming weeks.