Foxconn Fiscal Analysis Deeply Troubling for Wisconsin Taxpayers
"I am deeply troubled by the long-term negative fiscal implications that the proposed Foxconn legislation could put the State of Wisconsin in."
MADISON, WI – State Representative David Crowley (D-Milwaukee) issued the following statement in response to the fiscal analysis released today by Wisconsin’s Legislative Fiscal Bureau regarding proposed Foxconn legislation.
“I am deeply troubled by the long-term negative fiscal implications that the proposed Foxconn legislation could put the State of Wisconsin in. According to the fiscal analysis release this afternoon by the Legislative Fiscal Bureau, even if Foxconn delivered on their promise of creating 13,000 jobs, Wisconsin taxpayers would be on the hook until approximately 2043. Those numbers get even worse if Foxconn does not fulfill their 13,000 job promise, creating a potential situation where our grandchildren could still be paying the company for a deal that was made this year.
“Like all my fellow legislators, I know the importance of creating jobs here for the citizens of Wisconsin. However, I warn that this proposal could end in a reward that does not justify the size of the financial risk. This legislation thus must contain more guarantees concerning labor compensation, more claw back provisions, and a transportation addition to guarantee individuals in Southeastern Wisconsin the ability to get to these jobs. Without these guarantees, this legislation could be too big of a risk for Wisconsin taxpayers.”
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.
More about the Foxconn Facility
- Foxconn Will Get State Subsidy For 2022 - Joe Schulz - Dec 11th, 2023
- Mount Pleasant Approves Microsoft Deal on Foxconn Land - Evan Casey - Nov 28th, 2023
- Mount Pleasant Deal With Microsoft Has No Public Subsidies - Evan Casey - Nov 14th, 2023
- Microsoft, State Announce Massive Data Center Expansion, Land Purchase - Joe Schulz - Nov 11th, 2023
- Gov. Evers Announces Microsoft Makes Major Investment in Wisconsin - Gov. Tony Evers - Nov 10th, 2023
- State Can’t Regulate We Energies $100 Million Project for Microsoft - Joe Schulz - Sep 20th, 2023
- Foxconn Selling Green Bay, Eau Claire ‘Centers’ - Joe Schulz - Aug 16th, 2023
- Murphy’s Law: Foxconn Deal Is Still Costing Taxpayers - Bruce Murphy - Jul 6th, 2023
- Microsoft Will Pay $50 Million For Mount Pleasant Data Center Site - Evan Casey - Apr 20th, 2023
- Microsoft Data Center Proposed for Foxconn Land - Evan Casey - Mar 29th, 2023
Read more about Foxconn Facility here
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Will this be the story of “The Shoemaker’s kids have no shoes”? We pay for Fosconn, but have no $ left for schools, roads, etc?