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If you read the article it explains that Foxconn changed their plans after Wisconsin refused to subsidize a necessary Corning factory. I think that people are
by restingrobot 8y ago
If you read the article it explains that Foxconn changed their plans after Wisconsin refused to subsidize a necessary Corning factory.
I think that people are forgetting that this a subsidy to build. The state is not "giving" Foxconn money, it's just choosing not to collect taxes/permit fees/construction costs, for them to put in the factory. Once the factory is built, there is nothing stopping the state from modifying their corporate tax laws to recoup this investment much faster.
Also your last statement is just preposterous notion. Governor Walker is not personally gaining anything financial from this deal. It was a desperate bid to push his re-election campaign. Personally I think that the deal has soured so much that it should be cancelled, but the original $3 billion for jobs sounded very sound. Especially for a very economically repressed location like Racine.
- Clobbersmith 8y agoAt ~200k/job, why not just have the state give universal basic income to everybody in Racine? Don't like handouts? Have them dig a giant hole and fill it in afterwards.
- ychen306 8y agoAt this rate of return, they could make college free, and still get a faster return of investment.