Republican Scott Fitzgerald, majority leader in Wisconsin’s state senate, said he needs more time to do his due diligence on the massive $3 billion incentive package proposed for Foxconn, the Wisconsin newspaper reported on Wednesday.
Foxconn’s chairman, Terry Gou, in July met with Trump, Vice President Mike Pence, U.S. Speaker of the House Paul Ryan and other officials to tout the investment, saying the $10 billion investment will create 3,000 jobs. Wisconsin Gov. Scott Walker said at that time the agreement could eventually grow to 13,000 jobs, with 22,000 indirect and induced jobs and 10,000 construction jobs.
But since then, questions have mounted around the Taiwanese electronics manufacturer, which plans to set up a liquid crystal display (LCD) plant in southeast Wisconsin. The state’s Legislative Fiscal Bureau estimated that given the high levels of investment, the project wouldn’t break even until the 2040s.
Still, Walker said this week that he believes it’s a good deal that will ultimately get approved.
“Gov. Walker is committed to working with members of both parties in the Assembly and Senate to ensure Wisconsin takes advantage of the opportunity to create 13,000 jobs,” a spokesperson said.
Source: Tech CNBC
Wisconsin senate might reject Trump-backed Foxconn deal as concerns escalate, report says