Wisconsin vote to pay Foxconn $3 billion to get new factory
 

The $3 billion incentives package includes about $2.85 billion in cash payments from taxpayers and tax breaks valued at about $150 million. The state is also waiving certain environmental rules.

$3 billion to get 3,000 jobs means the state subsidy amounts to around $1 million per job.

That's $66,600 per employee for each of the next 15 years

Even if the plant never expands beyond 3,000 jobs, though, Foxconn will get $1.35 billion for building the plant. Assuming even the beginning stages of the deal come together, Wisconsin will be paying $500,000 worth of incentives per job.


Another example of Corporate welfare ... Approved by who else but Scott Walker the former Darling of the GOP

is this how we get a company to come Back to the USA ... good or bad I am going with Bad... I am ok with a little Tax relief but this not so much but I dont live there ... not my concern

I will post this for Eben in an attempt to set your free courtesy of Politifact Fact check which I believe is one of Paul's preferred checker of all things factual...:hihi: if democrats do it it's an "investment"... brilliant probably...if republicans do it it's "corporate welfare"


The planned plant initially will create 3,000 jobs, "with the potential to grow to 13,000 new jobs."

But the 13,000 is more than talk. Foxconn is pledging a $10 billion investment and the state is offering $3 billion in incentives, with $1.5 billion aimed at the creation of 13,000 jobs.

One Wisconsin Now says Walker "wants state taxpayers to dole out up to $250 million annually in incentives" to Foxconn "to lure a manufacturing plant to Wisconsin that he claims will generate $181 million in tax revenue."

Our rating: Half True.

Walker does want to offer $200 million to $250 million per year over 15 years in incentives in order to get Foxconn to put its plant in Wisconsin, and the estimate is that the project will produce $181 million per year in tax revenue.

But what’s left out of the statement is that Walker and others are pursuing the deal in large part because the massive development is expected to generate other new businesses, new housing and other economic activity that will, in turn, produce even more tax revenue.

One Wisconsin Now says Wisconsin's $3 billion incentive offer to Foxconn is "the largest gift ever by a state to a foreign company."

Our rating: Half True.

The $3 billion wouldn’t be given -- it would be paid, in increments, based on how much Foxconn spends on capital investments and payroll.

But the only compilation of government subsidies we found shows that the Foxconn offer would exceed the highest subsidy provided to a foreign company -- $1.65 billion in 2012, made by Pennsylvania to Dutch Royal Shell, based in The Netherlands.

State Rep. Melissa Sargent, D-Madison, says that on the Foxconn deal, "3,000 jobs cost #WI taxpayers more than $3 billion in tax giveaways. Break it down: more than $1 million in taxpayer dollars per job."

Our rating: False.

The per-job cost could never reach $1 million if only 3,000 jobs are created; the full $3 billion would be paid only if 13,000 jobs are created.

State Senate Minority Leader Jennifer Shilling, D-La Crosse, says: "Foxconn tax break could exceed $1 million per job."

Our rating: Half True.

If Foxconn invests at least $9 billion in its plant as it has said it will -- but hires only 1,500 workers, not the 13,000 it says there are potential for -- the incentives paid would exceed $1 million per job.

That being said, while there is not yet a commitment that Foxconn will create a minimum number of jobs, there is also no evidence that the total would be only 1,500 jobs if it invests $9 billion in its plant.

couldn't be as bad for the tax payer as what Rhode Island did for Kurt Shilling.
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That guy sucks balls
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