Foxconn incentive package could total up to $3 billion

[brewster]

http://www.jsonline.com/story/news/poli ... 519687001/

Foxconn could get up to $200 million in cash a year from state residents for up to 15 years

MADISON - To lure Foxconn Technology Group to Wisconsin, state residents will have to do more than just forgo taxes from the Taiwanese electronics giant. They will have to pay cash — writing checks for up to $200 million a year.

The subsidies for the deal would amount to nearly 50 times the previous record paid by Wisconsin taxpayers to secure a manufacturing plant in the state. Instead of getting the previous state standard of 7 cents in tax credits for every $1 in qualifying payroll checks to workers, Foxconn would get 17 cents in credits — a change that will have to be approved in special session legislation Gov. Scott Walker released Friday.

And because Wisconsin already waives almost all taxes on manufacturing profits in the state, these incentives represent not a lost opportunity at collecting revenue but an obligation to pay cash to Foxconn out of the state treasury for up to 15 years. When including a $150 million sales tax break for buying construction material, the incentive package could total up to $3 billion, according to the bill that lawmakers could vote on as soon as Tuesday.

That figure doesn't account for the still undisclosed additional incentives that local governments will have to provide. The bill would increase caps on those local subsidies, ease environmental regulations on Foxconn and provide $252 million in state additional borrowing for rebuilding I-94 south of Milwaukee, a key corridor for the Foxconn plant being slated for Racine or Kenosha counties.

Supporters of the record jobs deal say Wisconsin would win a keystone manufacturer that would bring world-leading technology and attract suppliers that would create their own jobs. Detractors say it amounts to a multibillion-dollar bet on a company that makes screens — a product subject to constant market-disrupting competition and innovation.

David J. Ward, an economist who has studied foreign investment in Wisconsin, backs the deal and says the state is lucky to have the chance to accept it.

"It is a good problem when you have opportunity," said Ward, who sees Foxconn as too attractive to pass up.

[SuburbanFarmer]

'We're going to go ahead and ship all your money to the world's most infamous employer, and not collect taxes from them, so that you can have a job that only the Chinese would do. Go fuck yourself, Wisconsonites. - Your loving government'

[Zlaxer]

'We're going to go ahead and ship all your money to the world's most infamous employer, and not collect taxes from them, so that you can have a job that only the Chinese would do. Go fuck yourself, Wisconsonites. - Your loving government'

We agree. Go fuck yourself, Wisconsonites.


But, then again, what else are they supposed to do to keep the proles employed?

[SuburbanFarmer]

'We're going to go ahead and ship all your money to the world's most infamous employer, and not collect taxes from them, so that you can have a job that only the Chinese would do. Go fuck yourself, Wisconsonites. - Your loving government'

We agree. Go fuck yourself, Wisconsonites.


But, then again, what else are they supposed to do to keep the proles employed?

Remove the barriers to new business creation. Revoke subsidies to megacorps and Big Ag.

[brewster]

But, then again, what else are they supposed to do to keep the proles employed?

Which of course comes around to the GMI debate. It's likely far cheaper to pay those people directly rather than filter it through a corporation. Better yet, pay them to paint the fucking rusting bridges all over the country. Every one is a symbol of our failing as a nation.

[SuburbanFarmer]

But, then again, what else are they supposed to do to keep the proles employed?

Which of course comes around to the GMI debate. It's likely far cheaper to pay those people directly rather than filter it through a corporation. Better yet, pay them to paint the fucking rusting bridges all over the country. Every one is a symbol of our failing as a nation.

[The Conservative]

But, then again, what else are they supposed to do to keep the proles employed?

Which of course comes around to the GMI debate. It's likely far cheaper to pay those people directly rather than filter it through a corporation. Better yet, pay them to paint the fucking rusting bridges all over the country. Every one is a symbol of our failing as a nation.

Why not do some real good, and have a 20-year program to rebuild our infrastructure from the outside in? Start from the water ways, and spread out into the country. Since doing so would interact with electrical, and transportation, as well as communication you got all three interacting and being repaired at the same time.

Bridges, water, electricity, and communication would all be improved where it's needed. Create a true redundant infrastructure, take away the power from the companies that "own" the telephone poles, and bring it back to the communities and states. Allow free market interaction with said poles, and the best company able to work with the upgraded infrastructure wins.

We have spent too long with the same old shit, and been treated just like that.

[Zlaxer]

But, then again, what else are they supposed to do to keep the proles employed?

Which of course comes around to the GMI debate. It's likely far cheaper to pay those people directly rather than filter it through a corporation. Better yet, pay them to paint the fucking rusting bridges all over the country. Every one is a symbol of our failing as a nation.

Why not do some real good, and have a 20-year program to rebuild our infrastructure from the outside in? Start from the water ways, and spread out into the country. Since doing so would interact with electrical, and transportation, as well as communication you got all three interacting and being repaired at the same time.

Bridges, water, electricity, and communication would all be improved where it's needed. Create a true redundant infrastructure, take away the power from the companies that "own" the telephone poles, and bring it back to the communities and states. Allow free market interaction with said poles, and the best company able to work with the upgraded infrastructure wins.

We have spent too long with the same old shit, and been treated just like that.

Where you going to get the moulah bro?

[brewster]

But, then again, what else are they supposed to do to keep the proles employed?

Which of course comes around to the GMI debate. It's likely far cheaper to pay those people directly rather than filter it through a corporation. Better yet, pay them to paint the fucking rusting bridges all over the country. Every one is a symbol of our failing as a nation.

Why not do some real good, and have a 20-year program to rebuild our infrastructure from the outside in? Start from the water ways, and spread out into the country. Since doing so would interact with electrical, and transportation, as well as communication you got all three interacting and being repaired at the same time.

Bridges, water, electricity, and communication would all be improved where it's needed. Create a true redundant infrastructure, take away the power from the companies that "own" the telephone poles, and bring it back to the communities and states. Allow free market interaction with said poles, and the best company able to work with the upgraded infrastructure wins.

We have spent too long with the same old shit, and been treated just like that.

OMG, I agree with you 100%. The reports of carbon generation utilities undermining alternative energy make the case compelling. But you just said to nationalize the entire grid, didn't you? Kinda commie, no?

Where you going to get the moulah bro?

By getting rid of corporate welfare to create jobs, and just create jobs.

[SuburbanFarmer]

Which of course comes around to the GMI debate. It's likely far cheaper to pay those people directly rather than filter it through a corporation. Better yet, pay them to paint the fucking rusting bridges all over the country. Every one is a symbol of our failing as a nation.

Why not do some real good, and have a 20-year program to rebuild our infrastructure from the outside in? Start from the water ways, and spread out into the country. Since doing so would interact with electrical, and transportation, as well as communication you got all three interacting and being repaired at the same time.

Bridges, water, electricity, and communication would all be improved where it's needed. Create a true redundant infrastructure, take away the power from the companies that "own" the telephone poles, and bring it back to the communities and states. Allow free market interaction with said poles, and the best company able to work with the upgraded infrastructure wins.

We have spent too long with the same old shit, and been treated just like that.

Where you going to get the moulah bro?

See previous post.