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The Joint Committee on Finance has scheduled a public hearing next week in Sturtevant on a bill that would offer a $3 billion incentive package to lure Foxconn Technology Group to southeast Wisconsin. The meeting is set for 11 a.m. Tuesday at the SC Johnson iMET Center, 2320 Renaissance Boulevard. Foxconn Technology Group will bring up to 13,000 new jobs and build a $10 billion manufacturing campus in southeastern Wisconsin by 2020. The contract manufacturer wants to build a 20 million square foot manufacturing campus to make Liquid Crystal Displays (LCDs) in southeast Wisconsin.
The Wisconsin State Assembly approved a $3 billion incentive program to lure electronics manufacturer Foxconn Technology Group to southeast Wisconsin.
Assembly OKs $3 Billion Incentive Package For Foxconn
The project would require Wisconsin taxpayers to back the deal with $3 billion in incentives over 15 years, but the state wouldn’t break even on the deal for 25 years, Reuters reported. The entire complex will be located on at least 1,000 acres — about 1.56 square miles — and include 20-million-square-foot campus, with jobs that pay an average salary of $53,875 plus benefits, company representatives said. The Assembly approved the tax bill on a bipartisan 59-30 vote. Representatives Cory Mason (D-Racine), Peter Barca (D-Kenosha), and Tod Ohnstat (D-Kenosha) voted along with 56 other Republicans for the the bill, 28 Democrats and two Republicans voted against it. Read the bill. While no precise location of the plant has been announced, Racine County Eye has learned that a commercial real estate firm is negotiating on behalf of Foxconn with property owners in Mount Pleasant and Sturtevant. Other sources have also told Racine County Eye that Kenosha County may also be a possible site.
Thank you to our sponsors: Northterra is a full-service commercial real estate company located in Racine, Wisconsin, a bedroom community between Chicago and Milwaukee.
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Denise Lockwood has an extensive background in traditional and non-traditional media. She has written for Patch.com, the Milwaukee Business Journal, Milwaukee Magazine and the Kenosha News.