The Wisconsin Assembly voted 59-30 on Thursday to approve a bill to give incentives worth $3 billion to Taiwan-based Foxconn 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. 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.
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?
They're going to be in for the shock of the century when they find out about OSHA
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.
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...
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.
Drain the swamp...
Sure.
Umm, ok. Don't know why you needed to quote my post to get that across, but sure.
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 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 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 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 of the Upjohn Ins ute 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/...rm-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.
Dont play stupid.
Alt. Trump man.
Last edited by pgardn; 08-20-2017 at 08:12 AM.
Puttin' them jobs into that rust belt.
4 x 2=8
On your dime buster.
8-8 = 0
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.
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.
& many are not.
He's putting those jobs into that rust belt.
4x2=8
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 , 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.
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?
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.
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.
pg, how's that brand new asshole Chooch tore ya?
I doubt cubby is part of the 47% tbh
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