Wisconsin Lawmakers Vote To Pay Foxconn $3 Billion To Get New Factory

[ElNono]

The Wisconsin Assembly voted 59-30 on Thursday to approve a bill to give incentives worth $3 billion to Taiwan-based Foxconn (https://arstechnica.com/tech-policy/2017/08/wisconsin-lawmakers-vote-to-pay-foxconn-3-billion-to-get-new-factory/) so that the company would open its first U.S. plant in the state. Foxconn, best known for supplying parts of Apple's iPhones, will open the $10 billion liquid-crystal display plant in 2020, according to Reuters (https://www.reuters.com/article/us-foxconn-wisconsin-idUSKCN1AX101). The bill still has to be approved by a joint finance committee and the state Senate. Both houses of Wisconsin's legislature are controlled by Republicans, and the deal is supported by Wisconsin Governor Scott Walker, a Republican who negotiated the deal. The vote was largely, but not entirely, along party lines. Three Democrats joined 56 Republicans in supporting the deal. Two Republicans and 28 Democrats voted against it. Opponents said the deal wasn't a good use of taxpayer funds. 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.

[Chucho]

Can't imagine it being an outrage in an age when using tax payer funds to build a sports arena is commonplace. Let's hope FoxxConn doesn't decide the factory is dated every 20 years and threatens to move elsewhere. Any ideas on how many this will employ?

[Trainwreck2100]

They're going to be in for the shock of the century when they find out about OSHA

[DMX7]

Can't imagine it being an outrage in an age when using tax payer funds to build a sports arena is commonplace. Let's hope FoxxConn doesn't decide the factory is dated every 20 years and threatens to move elsewhere. Any ideas on how many this will employ?

Surely, they're not just handing over a $3B check. There's has got to be restrictions and all kinds of legal requirements to meet.

[ElNono]

Can't imagine it being an outrage in an age when using tax payer funds to build a sports arena is commonplace. Let's hope FoxxConn doesn't decide the factory is dated every 20 years and threatens to move elsewhere. Any ideas on how many this will employ?

First link mentions 3000 initial, 13000 projected... seems like a lot of dough for those numbers, IMO.

Personally, not an outrage, more like expected corporate welfare, tbh... nothing says 'free market' like market distortions like tax breaks and straight out payouts... but we already know that the swamp is alive and well...

[SnakeBoy]

Surely, they're not just handing over a $3B check. There's has got to be restrictions and all kinds of legal requirements to meet.

However, the full $3 billion in incentives only becomes available if Foxconn ends up creating 13,000 jobs. But there's no ironclad guarantee in the deal that Foxconn even meets its 3,000 job promise, so the opponents' "$1 million per job" argument could be true if the factory only ends up employing 1,500 people or fewer.

[pgardn]

Can't imagine it being an outrage in an age when using tax payer funds to build a sports arena is commonplace. Let's hope FoxxConn doesn't decide the factory is dated every 20 years and threatens to move elsewhere. Any ideas on how many this will employ?

Drain the swamp...

Sure.

[Chucho]

Drain the swamp...

Sure.

Umm, ok. Don't know why you needed to quote my post to get that across, but sure.

[boutons_deux]

If you take $3 billion in incentives -- the amount cited in Sargent’s tweet -- and divide it by 3,000 jobs, you get $1 million per job.

But the $3 billion is the maximum -- to be paid only if Foxconn meets several requirements, including creating 13,000 jobs.

If fewer jobs are created, the incentives paid are less.

So, what is the cost per job?

What the per-job cost might be

The $3 billion -- up to $200 million per year for 15 years -- would amount to nearly 50 times (http://www.jsonline.com/story/news/politics/2017/07/28/foxconn-could-get-up-200-million-cash-year-state-residents-up-15-years/519687001/) the previous record paid by Wisconsin taxpayers,

when the state in 2010 offered $65 million in subsidies to keep Mercury Marine from moving a factory from Fond du Lac to Oklahoma.

The nonpartisan state Legislative Fiscal Bureau estimates it would take 25 years (http://docs.legis.wisconsin.gov/misc/lfb/bill_summaries/2017_19/0001_ss_ab_1_foxconn_fiserv_legislation_8_8_17.pdf ) for taxpayers to recover the bulk of that --

the $2.85 billion the state would be paying Foxconn in cash.

(The other $150 million would be provided through a sales tax exemption.)

As for the per-job cost, we turned to an analysis (http://www.wisconsinbudgetproject.org/wp-content/uploads/2017/08/Foxconn-payments-for-jobs.pdf) by the Wisconsin Budget Project. The project is part of Kids Forward, formerly known as the Wisconsin Council on Children and Families, a left-leaning nonprofit.

The $2.85 billion in cash payments, according to the analysis, would amount to $219,000 per job if 13,000 jobs are created and $587,000 per job if 3,000 jobs are created.

An important note: As the analysis and Culpan noted, and as economist Timothy Bartik (http://www.upjohn.org/about-us/who-we-are/research-staff/timothy-j-bartik) of the Upjohn Institute for Employment Research told us,

the more Foxconn gears its plant for robotics, the fewer jobs it will create -- and thus the per-job cost of the incentives will be higher.

http://www.politifact.com/wisconsin/statements/2017/aug/11/melissa-sargent/wisconsin-offering-pay-taiwan-tech-firm-foxconn-1-/

several who follow Foxconn say that Foxconn rarely completes, or even starts, such deals.

WI being effectively Kockistan, Walker waived a bunch of environmental regs for the Foxconn deal.

[pgardn]

Umm, ok. Don't know why you needed to quote my post to get that across, but sure.

Dont play stupid.
Alt. Trump man.

[Thread]

Puttin' them jobs into that rust belt.

4 x 2=8

[pgardn]

Puttin' them jobs into that rust belt.

4 x 2=8

On your dime buster.

8-8 = 0

[Thread]

On your dime buster.

8-8 = 0

Like Chooch said above.

[pgardn]

Like Chooch said above.

Oh.

So it's ok.
Gotcha.
When people think Obama is going to hand out free phones you will kneel with your mouth taped shut.

[Thread]

Oh.

So it's ok.
Gotcha.
When people think Obama is going to hand out free phones you will kneel with your mouth taped shut.

What's good for the goose is sauce for the gander.

[pgardn]

What's good for the goose is sauce for the gander.

Many of the Sports stadiums are put to a public vote.
Did the citizens of Wisconsin vote directly on this?
So the comparison is weak.

Fact is you don't know what you want.
Trump promised to create jobs by lifting restrictions on companies, not just giving them money.
Free markets.... This is a Republican thing? Nahhhh.

Just admit your weak rationalizations are just that.

[Thread]

Many of the Sports stadiums are put to a public vote.
Did the citizens of Wisconsin vote directly on this?
So the comparison is weak.

Fact is you don't know what you want.
Trump promised to create jobs by lifting restrictions on companies, not just giving them money.
Free markets.... This is a Republican thing? Nahhhh.

Just admit your weak rationalizations are just that.


& many are not.

He's putting those jobs into that rust belt.

4x2=8

[leemajors]

Can't imagine it being an outrage in an age when using tax payer funds to build a sports arena is commonplace. Let's hope FoxxConn doesn't decide the factory is dated every 20 years and threatens to move elsewhere. Any ideas on how many this will employ?

Foxconn has a facility in Dallas where no one spoke English on the floor for about 6 months. The everyday employees were brought over from Korea. I doubt Wisconsin will be any different. JOBS! MAGA!!

[Thread]

Foxconn has a facility in Dallas where no one spoke English on the floor for about 6 months. The everyday employees were brought over from Korea. I doubt Wisconsin will be any different. JOBS! MAGA!!

Well shit, with you pullin' against it like this---it don't a Chinaman's chance, Lee.

[leemajors]

Well shit, with you pullin' against it like this---it don't a Chinaman's chance, Lee.

This is how Foxconn operates, I'm not pulling either way.

[Chucho]

Foxconn has a facility in Dallas where no one spoke English on the floor for about 6 months. The everyday employees were brought over from Korea. I doubt Wisconsin will be any different. JOBS! MAGA!!

So...kinda like allowing illegals in the country to do the jobs "American's dont wanna do"? So, status quo is what you're saying?

[Chucho]

Dont play stupid.
Alt. Trump man.

Mhmmm...whatever you got to say to keep you're place in "Us vs. Them". Thought you were a little smarter, but that horse flesh diet mustn't provide adequate nutrition.

[Chucho]

Fact is you don't know what you want.


Just admit your weak rationalizations are just that.

And what you want is simple; so long the other side does it, you want it to crash and burn. It could be free healthcare for all with a bulletproof plan and you, and other simple minded "us vs. them" 1-way thinkers would still find a negative angle to play that some Liberal media outlet fed you.

[Thread]

pg, how's that brand new asshole Chooch tore ya?

[baseline bum]

On your dime buster.

8-8 = 0

I doubt cubby is part of the 47% tbh

[baseline bum]

And what you want is simple; so long the other side does it, you want it to crash and burn. It could be free healthcare for all with a bulletproof plan and you, and other simple minded "us vs. them" 1-way thinkers would still find a negative angle to play that some Liberal media outlet fed you.

LOL copying Trump's healthcare shtick. I like Trump's proposal on on making immigration merit based like the rest of the first world has, I support lowering immigration numbers, and wrote my (Democratic) house representative to tell him he should vote for it to dry up labor supply and hopefully start a rising tide for wages from the bottom up. If Trump had a good healthcare plan I'd write my rep again to tell him to vote for it, that opposition based on party lines is retarded and why the country hates congress so much right now. But Trumpcare is garbage so I wrote to tell him Obama is right in advising them to not to give in.

[Spurtacular]

LOL copying Trump's healthcare shtick. I like Trump's proposal on on making immigration merit based like the rest of the first world has, I support lowering immigration numbers, and wrote my (Democratic) house representative to tell him he should vote for it to dry up labor supply and hopefully start a rising tide for wages from the bottom up. If Trump had a good healthcare plan I'd write my rep again to tell him to vote for it, that opposition based on party lines is retarded and why the country hates congress so much right now. But Trumpcare is garbage so I wrote to tell him Obama is right in advising them to not to give in.

Obamacare is shit, too, dude. Or do you like the idea of living in a county that doesn't have a fucking plan? Whatever government is shit. We'll get fucked regardless of what you think.

[baseline bum]

https://www.wearebw.com/wp-content/uploads/Loud-Noises.jpg

[Spurtacular]

^^^

Fair enough; but be prepared to get fucked either way. You may be able to make some marginal dents in the ass fucking coming your way if that helps you sleep at night. Just keep writing your congressman, and he'll keep filing it in his trashcan.

[baseline bum]

^^^

Fair enough; but be prepared to get fucked either way. You may be able to make some marginal dents in the ass fucking coming your way if that helps you sleep at night. Just keep writing your congressman, and he'll keep filing it in his trashcan.

Whatever you say Truther.

[Spurtacular]

Whatever you say Truther.

Yup, and I wasn't always a truther. I used to have the same dismissive attitude towards them that you do. I suggest you study up on it.

[leemajors]

So...kinda like allowing illegals in the country to do the jobs "American's dont wanna do"? So, status quo is what you're saying?

The writing was on the wall for US manufacturing in the 60s and 70s, no one paid attention. But hey, those Foxconn employees will pay taxes and add jobs! MAGA!

[ElNono]

The writing was on the wall for US manufacturing in the 60s and 70s, no one paid attention. But hey, those Foxconn employees will pay taxes and add jobs! MAGA!

yep, it's a political bullet point, tbh... oh well, far from the first one...

[DMC]

Can't imagine it being an outrage in an age when using tax payer funds to build a sports arena is commonplace. Let's hope FoxxConn doesn't decide the factory is dated every 20 years and threatens to move elsewhere. Any ideas on how many this will employ?

20 years? You'd be lucky to get 5.

[DMC]

It's funny to read "American jobs". We all pretend to give a shit about American jobs. We really only care about OUR job, and maybe to a lesser degree the jobs of our family and friends. We have a distaste for non-Americans working in the US because they "take American jobs". Then we say shit like "all lives matter". Then the MSM reports "An American among the dead" as if that makes the event suddenly more meaningful, because those other folks, just a blob of flesh we didn't know, but that American, hell..he was good people.

Hypocrites, all of us.

[ElNono]

It's funny to read "American jobs". We all pretend to give a shit about American jobs. We really only care about OUR job, and maybe to a lesser degree the jobs of our family and friends. We have a distaste for non-Americans working in the US because they "take American jobs". Then we say shit like "all lives matter". Then the MSM reports "An American among the dead" as if that makes the event suddenly more meaningful, because those other folks, just a blob of flesh we didn't know, but that American, hell..he was good people.

Hypocrites, all of us.

Yup, god forbid they take away those $5 Vietnamese t-shirts from Walmart and replace them with $25 Made in USA ones...

[hater]

Good more jobs for mexicans

[Will Hunting]

I doubt cubby is part of the 47% tbh
He's not, he's a veteran receiving VA welfare.

[Splits]

He's not, he's a veteran receiving VA welfare.

And that fucker was washing dishes at Bragg while the rest of his countrymen were dying in 'Nam. Dickless cunt

[Quadzilla99]

And that fucker was washing dishes at Bragg while the rest of his countrymen were dying in 'Nam. Dickless cunt
Cubby was stateside during the war?

[Will Hunting]

And that fucker was washing dishes at Bragg while the rest of his countrymen were dying in 'Nam. Dickless cunt
He's one of several right wing welfare queens on this site :lol

:lol Wild Cobra's food stamp mom

[Splits]

Cubby was stateside during the war?

Of course. He was too poor to dodge and too incompetent to deploy, so they stuck him at the back of a mess hall

[Quadzilla99]

Of course. He was too poor to dodge and too incompetent to deploy, so they stuck him at the back of a mess hall

:lmao

[Chucho]

LOL copying Trump's healthcare shtick. I like Trump's proposal on on making immigration merit based like the rest of the first world has, I support lowering immigration numbers, and wrote my (Democratic) house representative to tell him he should vote for it to dry up labor supply and hopefully start a rising tide for wages from the bottom up. If Trump had a good healthcare plan I'd write my rep again to tell him to vote for it, that opposition based on party lines is retarded and why the country hates congress so much right now. But Trumpcare is garbage so I wrote to tell him Obama is right in advising them to not to give in.

Unaware of him saying anything, was just using something everyone wants as an example. Could use "everyone gets "$10k free!" and partisanship would still have people shitting on it. It wouldn't stop those people from happily spending it tho.

[pgardn]

He's putting those jobs into that rust belt.

4x2=8

To mine coal.
Thats a winner.

[boutons_deux]

MSNBC hosts blow up Wisconsin Gov. Scott Walker’s proposed $3 billion tax credit giveaway to Foxconn

http://2d0yaz2jiom3c6vy7e7e5svk.wpengine.netdna-cdn.com/wp-content/uploads/2017/09/velshi_ruhle-800x430.jpg


“Foxcon won’t get any payouts until they follow-through with the construction and hiring,”

An analysis from the Wisconsin Legislative Fiscal Bureau says that the deal heralded by President Trump

won’t generate any profits for the state until 2042 at the earliest.”

“So assuming Foxconn makes good on the promise, which we shouldn’t, because it

broke another deal three years back in Harrisburg, Pennsylvania

So Wisconsin will wait 24, 25 years,”

http://www.rawstory.com/2017/09/watch-msnbc-hosts-blow-up-wisconsin-gov-scott-walkers-proposed-3-billion-tax-dollar-giveaway-to-foxconn/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheRawStory+%28The+Raw+Story% 29

[Winehole23]

“Building a technology supply chain in Wisconsin is growing more expensive for the state. Incentives offered by Wisconsin and its municipalities to Taiwan’s Foxconn Technology Group since it announced a $10 billion megaplant there have gone up by nearly $1 billion, with programs such as a $134 million road improvement plan adding to the bill. …. [T]he ballooning costs underscore how expensive and unpredictable such big manufacturing projects can become for states and cities eager to attract new investments and jobs”http://createsend.com/t/d-7283F2D59597C5D52540EF23F30FEDED?mod=article_inlin e

[boutons_deux]

http://createsend.com/t/d-7283F2D59597C5D52540EF23F30FEDED?mod=article_inlin e


[T]he ballooning costs underscore how expensive and unpredictable such big manufacturing projects can become ...”

(but no state money)

Tesla Builds Its Own Tent City

https://www.motherjones.com/kevin-drum/2018/06/tesla-builds-its-own-tent-city/


The Future of Tesla Hinges on This Gigantic Tent

Elon Musk loves it. Critics hate it. The all-important Model 3 sedan depends on it.

https://www.bloomberg.com/news/articles/2018-06-25/the-future-of-tesla-hinges-on-this-gigantic-tent


Will Musk become legendary as "Preston Tucker 2.0" ?

https://en.wikipedia.org/wiki/Tucker:_The_Man_and_His_Dream

[Pavlov]

http://createsend.com/t/d-7283F2D59597C5D52540EF23F30FEDED?mod=article_inlin eI shudder to think of the costs if HQ2 lands here.

[Winehole23]

gold-plated socialism for multinationals, bootstrap capitalism for the rest of us.

[SnakeBoy]

gold-plated socialism for multinationals, bootstrap capitalism for the rest of us.

What's the problem? All govt spending trickles down to the peoples.

[Th'Pusher]

What's the problem? All govt spending trickles down to the peoples.

Look up the term ROI. It should be factor into your equation when determining where to invest...House husband :lol

[SnakeBoy]

Look up the term ROI. It should be factor into your equation when determining where to invest...House husband :lol

lol still thinking that's an insult

Try putting that term to practical use and your wife wouldn't have to be the primary breadwinner in your house..."I work in IT" husband :lol

[Winehole23]

Foxconn fooled Scott Walker and with his help, screwed Wisconsin.


The bill for Foxconn's taxpayer-funded subsidy has gone up to more than $4.1 billion. Also: Foxconn has scaled the factory plan waaaay back: instead of a $10 billion "Generation 10.5" plant, it will build a much smaller "Generation 6" plant.


Nearly all the work in a Gen 6 plant is robotic.
https://boingboing.net/2018/10/29/foxconned.html

[Winehole23]

Over the summer, Walker’s response to such criticism was pointed. ”There’s a whole lot of people out there scrambling to try and come up with a reason not to like this,” he said in July of last year. “They can go suck lemons. The rest of us are going to cheer and figure out how we are going to get this thing going forward.” Several weeks later, he called the deal a “once-in-a-lifetime opportunity” that will be “transformational” for the state. “These LCD displays will be made in America for the very first time, right here in the state of Wisconsin.”


The Walker administration did not return repeated requests for comment about when taxpayers would recoup the Foxconn subsidies.
https://www.theverge.com/2018/10/29/18027032/foxconn-wisconsin-plant-jobs-deal-subsidy-governor-scott-walker

[Winehole23]

taxpayer subsidies to the company totalling more than $4.5 billion, the largest subsidy for a foreign corporation in American history. Since Wisconsin already exempts manufacturing companies from paying taxes, Foxconn, which generated a hundred and fifty-eight billion dollars in revenue last year, will receive much of this subsidy in direct cash payments from taxpayers. Depending on how many jobs are actually created, taxpayers will be paying between two hundred and twenty thousand dollars and more than a million dollars per job. According to the Legislative Fiscal Bureau, a nonpartisan agency that provides economic analysis to the Wisconsin state legislature, the earliest citizens might see a return on their Foxconn investment is in 2042.https://www.newyorker.com/news/dispatch/did-scott-walker-and-donald-trump-deal-away-the-governors-race-to-foxconn

[Spurminator]

USA USAUSA USAUSA USA USA

[Winehole23]

​“He ran against me in the primary,” Trump said, of Walker. “He was tough. He could be nasty. Wow, but he was tough. He was smart.”Trump went on: “I got him set up with an incredible company called Foxconn.”

[boutons_deux]

Trump’s much-ballyhooed Wisconsin Foxconn plant may import Chinese workers for taxpayer-funded jobs


https://www.rawstory.com/2018/11/trumps-much-ballyhooed-wisconsin-foxconn-plant-may-import-chinese-workers-taxpayer-funded-jobs/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheRawStory+%28The+Raw+Story% 29

[Winehole23]

more affects China than WI, most likely:


Apple Inc will begin assembling its top-end iPhones in India through the local unit of Foxconn as early as 2019, the first time the Taiwanese contract manufacturer will have made the product in the country, according to a source familiar with the matter. Importantly, Foxconn will be assembling the most expensive models, such as devices in the flagship iPhone X family, the source said, potentially taking Apple’s business in India to a new level. The work will take place at Foxconn’s plant in Sriperumbudur town in the southern state of Tamil Nadu, said the source, who is not authorized to speak to the media and so declined to be namedhttps://www.streetinsider.com/General+News/Exclusive%3A+Foxconn+to+begin+assembling+top-end+Apple+iPhones+in+India+in+2019+-+source/14954132.html

[Spurminator]

1090607209111830533

[Spurminator]

Earlier this month, Foxconn, a major supplier to Apple Inc., reiterated its intention to create 13,000 jobs in Wisconsin, but said it had slowed its pace of hiring. The company initially said it expected to employ about 5,200 people by the end of 2020; a company source said that figure now looks likely to be closer to 1,000 workers.

https://www.reuters.com/article/us-foxconn-wisconsin-exclusive/exclusive-foxconn-reconsidering-plans-to-make-lcd-panels-at-wisconsin-plant-idUSKCN1PO0FV

[CosmicCowboy]

LOL. Now they are going to make the TV screens in China, ship them to Mexico for TV assembly, and then import them into the US from there. Sounds like they need to blow up the deal.

[Pavlov]

:lol Pence
:lol Trump
:lol Wisconsin

[spurraider21]

it will trickle down

eventually

[boutons_deux]

Wisconsin governor says he wants to renegotiate Foxconn contract

because the Taiwanese company is not expected to reach its job creation goals for the state.

Announced at a White House ceremony in 2017, Foxconn’s 20-million square foot campus marked the largest greenfield investment by a foreign-based company in U.S. history and was praised by President Donald Trump as proof of his ability to revive American manufacturing.

https://www.reuters.com/article/us-foxconn-wisconsin/wisconsin-governor-says-he-wants-to-renegotiate-foxconn-contract-idUSKCN1RT2IN?feedType=RSS&feedName=domesticNews (https://www.reuters.com/article/us-foxconn-wisconsin/wisconsin-governor-says-he-wants-to-renegotiate-foxconn-contract-idUSKCN1RT2IN?feedType=RSS&feedName=domesticNews)

Carrier

Ford

GM

Foxconn

Coal

... Trash's sickening wins are endless.

[boutons_deux]

Foxconn's Wisconsin Facility is a Ghost Town Where Workers Are Just 'Moving Dirt Around' (https://gizmodo.com/foxconns-wisconsin-facility-is-a-ghost-town-where-worke-1834166736)

https://i.kinja-img.com/gawker-media/image/upload/s--6Taq7vCH--/c_scale,dpr_2.0,f_auto,fl_progressive,q_80,w_800/fstz2ejbuy6g7h2obqzi.jpg

The people of Wisconsin are at their wit’s end,

trying to figure out what to do about a Foxconn facility that has

so far failed to create thousands of jobs.

And the Democratic governor, Tony Evers, signaled this week that the deal signed by his predecessor, which provided $4 billion worth of subsidies and infrastructure spending to Foxconn from the state, will likely be renegotiated (https://www.jsonline.com/story/news/politics/2019/04/17/tony-evers-says-foxconn-wont-employ-13-000-wants-new-deal/3498897002/).

“The hardest part for both supporters and detractors is that no one knows what’s happening,”

“There was a lot in the contract that’s no longer pertinent to anything going on on the ground.”

https://gizmodo.com/foxconns-wisconsin-facility-is-a-ghost-town-where-worke-1834166736?utm_source=gizmodo_newsletter&utm_medium=email&utm_campaign=2019-04-20 (https://gizmodo.com/foxconns-wisconsin-facility-is-a-ghost-town-where-worke-1834166736?utm_source=gizmodo_newsletter&utm_medium=email&utm_campaign=2019-04-20)

[boutons_deux]

New Jersey Exposed One of Corporate America’s Favorite Schemes

A state investigation revealed how companies use

empty threats to pry money from local governments.

New Jersey is doing the nation a favor by pulling back the curtain on a problem with which nearly every city and state in America deals:

being blackmailed by corporations into coughing up public money.

States and cities spend tens of billions of dollars annually on these sorts of tax breaks and giveaways:

Estimates range from $45 billion (https://research.upjohn.org/cgi/viewcontent.cgi?article=1228&context=reports) to nearly $100 billion (https://www.nytimes.com/2012/12/02/us/how-local-taxpayers-bankroll-corporations.html?pagewanted=all).

On every measure that should matter, though—jobs, incomes, economic growth—studies reveal (http://www.goodjobsfirst.org/sites/default/files/docs/pdf/shellgame.pdf) that

corporate-tax incentives do little to nothing.

Instead,

corporations simply receive windfalls to do what they would have done anyway, or

turn around and break their promises regarding job creation,

while keeping the money they received.

https://www.thenation.com/article/new-jersey-exposed-one-of-corporate-americas-favorite-schemes/

[Winehole23]

https://cdn.vox-cdn.com/thumbor/fxZJ11JVG35FG8BvL-B6s-jdnCQ=/0x0:2040x1360/1200x800/filters:focal(857x517:1183x843)/cdn.vox-cdn.com/uploads/chorus_image/image/63821196/jlott_190509_3414_0056.0.0.jpgA building in Eau Claire that Foxconn said would open as an “innovation center” early this year. The project now appears to be stalled. Photo by Joshua Lott for The Verge


At the event announcing the Madison project (https://www.theverge.com/2019/4/12/18308083/foxconn-wisconsin-innovation-center-madison-controversy-empty-buildings), Foxconn’s Alan Yeung said the innovation centers were “not empty,” which prompted laughter from the crowd. Yeung also said The Verge’s story contained “a lot of inaccuracies” and that the company would issue a correction soon. He did not say what those inaccuracies were, and Foxconn never issued a correction, nor has it responded to repeated requests to clarify Yeung’s statement.

One month after Yeung’s comments and promise of a correction, every innovation center in Wisconsin is still empty, according to public documents and sources involved with the innovation center process.
https://www.theverge.com/2019/5/13/18565408/foxconn-wisconsin-innovation-centers-factories-empty-tax-subsidy

[boutons_deux]

How Trump’s FoxConn Deal Conned Wisconsin Out Of Billions

The Foxconn (https://www.nationalmemo.com/with-foxconn-americans-get-snookered-again/) deal —

Wisconsin’s ill-fated giveaway of billions of dollars to a Taiwanese electronics giant —

is irretrievably broken.

That’s not an outside opinion. That’s the conclusion of a report (https://www.theverge.com/2019/8/6/20747166/wisconsin-foxconn-deal-state-report-lcd-factory-innovation-centers) commissioned by the state of Wisconsin.

The whole deal was a GOP invention.

Trump bragged (https://shareblue.com/gop-governor-offers-3-million-bribe-to-shady-corporation-to-boost-trumps-jobs-numbers/) that the deal was only happening because he got elected. :lol

Scott Walker, the then-governor of Wisconsin, orchestrated (https://shareblue.com/trump-foxconn-deal-as-eighth-wonder-of-the-world-flops/) the multibillion-dollar giveaway.

Foxconn Chair Terry Gou admitting (https://shareblue.com/trump-foxconn-deal-as-eighth-wonder-of-the-world-flops/) the company had no intention of building the promised LCD panels in the United States.

it wouldn’t provide the blue-collar jobs Walker and his cronies promised.

Foxconn floated having a high-tech research facility (https://www.apnews.com/188ea015a7da4179ae4d9bcf7a4bb2c4) instead.

Foxconn can’t help itself from asking for more (https://www.theverge.com/2019/8/6/20747166/wisconsin-foxconn-deal-state-report-lcd-factory-innovation-centers):

They’re hoping to have a longer time to qualify for capital investment tax credits.
In the end, this is

just another Trump-related deal gone horribly wrong.

Trump and Walker made flashy promises,

gave away billions of dollars, and

left the taxpayers holding the bag.

(https://www.nationalmemo.com/how-trumps-foxconn-deal-conned-wisconsin-out-of-billions/)https://www.nationalmemo.com/how-trumps-foxconn-deal-conned-wisconsin-out-of-billions/

[DMX7]

How Trump’s FoxConn Deal Conned Wisconsin Out Of Billions

The Foxconn (https://www.nationalmemo.com/with-foxconn-americans-get-snookered-again/) deal —

Wisconsin’s ill-fated giveaway of billions of dollars to a Taiwanese electronics giant —

is irretrievably broken.

That’s not an outside opinion. That’s the conclusion of a report (https://www.theverge.com/2019/8/6/20747166/wisconsin-foxconn-deal-state-report-lcd-factory-innovation-centers) commissioned by the state of Wisconsin.

The whole deal was a GOP invention.

Trump bragged (https://shareblue.com/gop-governor-offers-3-million-bribe-to-shady-corporation-to-boost-trumps-jobs-numbers/) that the deal was only happening because he got elected. :lol

Scott Walker, the then-governor of Wisconsin, orchestrated (https://shareblue.com/trump-foxconn-deal-as-eighth-wonder-of-the-world-flops/) the multibillion-dollar giveaway.

Foxconn Chair Terry Gou admitting (https://shareblue.com/trump-foxconn-deal-as-eighth-wonder-of-the-world-flops/) the company had no intention of building the promised LCD panels in the United States.

it wouldn’t provide the blue-collar jobs Walker and his cronies promised.

Foxconn floated having a high-tech research facility (https://www.apnews.com/188ea015a7da4179ae4d9bcf7a4bb2c4) instead.

Foxconn can’t help itself from asking for more (https://www.theverge.com/2019/8/6/20747166/wisconsin-foxconn-deal-state-report-lcd-factory-innovation-centers):

They’re hoping to have a longer time to qualify for capital investment tax credits.
In the end, this is

just another Trump-related deal gone horribly wrong.

Trump and Walker made flashy promises,

gave away billions of dollars, and

left the taxpayers holding the bag.

(https://www.nationalmemo.com/how-trumps-foxconn-deal-conned-wisconsin-out-of-billions/)https://www.nationalmemo.com/how-trumps-foxconn-deal-conned-wisconsin-out-of-billions/

What a disgrace.

[MultiTroll]

Wisconsin blames Foxconn, says $3 billion factory deal is off

https://arstechnica.com/tech-policy/2020/10/wisconsin-blames-foxconn-says-3-billion-factory-deal-is-off/

So much winning under Donceold Trump.
Can we get a microphone in front of he and Scott Walker to comment on the con?

Will Sleepy Joe mention this in his Wisconsin campaign.

[Ef-man]

Wisconsin blames Foxconn, says $3 billion factory deal is off

https://arstechnica.com/tech-policy/2020/10/wisconsin-blames-foxconn-says-3-billion-factory-deal-is-off/

So much winning under Donceold Trump.
Can we get a microphone in front of he and Scott Walker to comment on the con?

Will Sleepy Joe mention this in his Wisconsin campaign.

You are right, so much winning.

They could use this company facility to clean coal, or make nuclear bombs to stop hurricanes, or make injectable bleach or make a wall paid by Mexico.

[Spurminator]

1318192593692446720

[ElNono]

1318192593692446720

Got bent by the Chinaman again, nothing to see here.

[Winehole23]

Got bent by the Chinaman again, nothing to see here.Too bad ignorant Trumpistas can't leave well enough alone.

Peter Navarro just attempted a revivification of the dead horse.

1319079484637720577

[ElNono]

What's the problem? All govt spending trickles down to the peoples.


it will trickle down

eventually

:lol

[spurraider21]

:lol
just wait for it.

its coming

eventually

[RandomGuy]

just wait for it.

its coming

eventually

Trump health care plan? what?

[Ef-man]

just wait for it.

its coming

eventually

:lmao

[Winehole23]

Taiwan electronics manufacturer Foxconn is drastically scaling back a planned $10 billion factory in Wisconsin.
Under a deal, Foxconn will reduce its planned investment to $672 million from $10 billion, and slash the number of new jobs to 1,454 from 13,000.
The deal was first announced at the White House in July 2017, with then-president Donald Trump boasting of it as an example of how his “America First” agenda could revive U.S. tech manufacturing.







The state will reduce the tax credits authorized for the project to $80 million from $2.85 billion.

https://www.cnbc.com/2021/04/21/foxconn-mostly-abandons-10-billion-wisconsin-project-touted-by-trump.html

[ElNono]

Puttin' them jobs into that rust belt.

4 x 2=8

:lol another post that aged like milk, tbh... like this deal

[ElNono]

Taiwan's Foxconn Discussing Electric Vehicle Plant In Wisconsin

Taiwan's Foxconn said on Friday it was in talks with the U.S. state of Wisconsin about building electric vehicles there (https://www.autoblog.com/2021/07/09/foxconn-ev-manufacturing-wisconsin/), part of the major Apple supplier's push to diversify income streams. Autoblog reports: Foxconn and electric car manufacturer Fisker Inc said in May that they had finalized a vehicle-assembly deal. They did not identify a location, but Fisker's CEO said Foxconn's Wisconsin site was a possibility. In a statement, Foxconn said it had begun discussions with Wisconsin. "Foxconn has engaged the Wisconsin Economic Development Corporation to discuss the company's plans for electric vehicle manufacturing. Foxconn is optimistic about our partnership with WEDC and looks forward to ongoing discussions," it added.

In April, Foxconn drastically scaled back (https://news.slashdot.org/story/21/04/22/1354201/foxconn-mostly-abandons-10-billion-wisconsin-project) a planned $10 billion factory in Wisconsin (https://yro.slashdot.org/story/19/02/01/2153247/foxconn-says-it-will-build-wisconsin-factory-after-all), confirming its retreat from a project that former U.S. President Donald Trump once called "the eighth wonder of the world" and was supposed to build cutting-edge flat-panel display screens. A month earlier, Foxconn's chairman said it may make EVs at the Wisconsin site, though could decide on Mexico, and would make a decision this year. Foxconn aims to provide components or services to 10% of the world's EVs by 2025 to 2027, posing a threat to established automakers by allowing technology companies a shortcut to competing in the vehicle market.

[Ef-man]

Taiwan's Foxconn Discussing Electric Vehicle Plant In Wisconsin

Taiwan's Foxconn said on Friday it was in talks with the U.S. state of Wisconsin about building electric vehicles there (https://www.autoblog.com/2021/07/09/foxconn-ev-manufacturing-wisconsin/), part of the major Apple supplier's push to diversify income streams. Autoblog reports: Foxconn and electric car manufacturer Fisker Inc said in May that they had finalized a vehicle-assembly deal. They did not identify a location, but Fisker's CEO said Foxconn's Wisconsin site was a possibility. In a statement, Foxconn said it had begun discussions with Wisconsin. "Foxconn has engaged the Wisconsin Economic Development Corporation to discuss the company's plans for electric vehicle manufacturing. Foxconn is optimistic about our partnership with WEDC and looks forward to ongoing discussions," it added.

In April, Foxconn drastically scaled back (https://news.slashdot.org/story/21/04/22/1354201/foxconn-mostly-abandons-10-billion-wisconsin-project) a planned $10 billion factory in Wisconsin (https://yro.slashdot.org/story/19/02/01/2153247/foxconn-says-it-will-build-wisconsin-factory-after-all), confirming its retreat from a project that former U.S. President Donald Trump once called "the eighth wonder of the world" and was supposed to build cutting-edge flat-panel display screens. A month earlier, Foxconn's chairman said it may make EVs at the Wisconsin site, though could decide on Mexico, and would make a decision this year. Foxconn aims to provide components or services to 10% of the world's EVs by 2025 to 2027, posing a threat to established automakers by allowing technology companies a shortcut to competing in the vehicle market.

Foxconn is just fucking with Wisconsin.

[ElNono]

Foxconn Factory Fiasco Could Leave Wisonsinites On the Hook For $300 Million

For five years, Foxconn promised and spectacularly failed to build a much-hyped sprawling factory near Mount Pleasant, Wisconsin. Now, the area's leaders may be saddled with $300 million in bond repayments (https://www.theregister.com/2022/05/25/foxconn_wisconsin_factory/) that the Taiwanese iPhone maker had promised to repay. According to the Wall Street Journal (https://www.theregister.com/2022/05/25/foxconn_wisconsin_factory/), Foxconn agreed to pay $36 million annually across a 20-year term to pay for the surrounding infrastructure supporting the now-abandoned 3,000-acre site. Those payments are scheduled to start next tax year, and local leaders told the newspaper they're counting on Foxconn's cash to maintain the site while they try to attract another occupant.

Finding an occupant hasn't been easy. Intel, which announced a $20 billion investment (https://news.slashdot.org/story/21/03/23/2127254/intel-to-spend-20-billion-to-build-two-new-chip-fabs-in-arizona) in two chip factories in Ohio in January, was also considering (https://biztimes.com/intel-nearly-picked-foxconn-site-but-chose-ohio-instead-for-massive-chip-manufacturing-complex/) Wisconsin for the project, with its focus on Racine, the nearest large city to the proposed Foxconn plant. The other option to cover the costs would be a total Foxconn pullout, which state officials said would let the government sell the land, assessed at a value of over $500 million. Ultimately, we're told, Foxconn promised to cough up $300 million to cover bonds for the infrastructure, whether the plant went ahead or not, but with that deal in tatters, it's now not clear if the money will be paid.

[SnakeBoy]

Another big govt failure

[ElNono]

Another big govt failure

https://wpr-public.s3.amazonaws.com/wprorg/styles/resp_orig_custom_user_wide_1x/s3/articles/2018/06/foxconngroundbreaking.jpg?itok=O1rN_gWX

[SnakeBoy]

He broke you

[ElNono]

He broke you

He said he was making america great again, instead he got FoxConned and left us with a $300 million bill.

You ate it up, then when Joe saved you, he broke you.

[MultiTroll]

https://wpr-public.s3.amazonaws.com/wprorg/styles/resp_orig_custom_user_wide_1x/s3/articles/2018/06/foxconngroundbreaking.jpg?itok=O1rN_gWX
:rollin
Snakeboi and Weasel.

Trump hails iPhone maker Foxconn for $10 billion Wisconsin plant - CNET (https://www.cnet.com/news/politics/trump-hails-iphone-maker-foxconn-for-10-billion-wisconsin-plant-and-praises-apple/)

[MultiTroll]

Puttin' them jobs into that rust belt.

4 x 2=8
Foxconn mostly abandons $10 billion Wisconsin project touted by Trump (cnbc.com) (https://www.cnbc.com/2021/04/21/foxconn-mostly-abandons-10-billion-wisconsin-project-touted-by-trump.html)

[SnakeBoy]

In Biden's America, Foxconn abandons Wisconsin project touted by Trump

[Winehole23]

In Biden's America, Foxconn abandons Wisconsin project touted by Trumpread through the thread, it was abandoned well before Joe Biden arrived

[Winehole23]

lol pure shitposting

[ChumpDumper]

In Biden's America, Foxconn abandons Wisconsin project touted by Trump

Trump broke you.

[Winehole23]

Foxconn sells buildings that were to house "innovation centers" in Eau Claire and Green Bay.

9Jz1TjCphXE

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