Governor Walker Calls Legislature Into “Wisconn Valley” Special Session
Delivers bill that would bring Foxconn's $10 billion investment and 13,000 jobs to Wisconsin
MADISON – Governor Scott Walker today called a Special Session of the Wisconsin State Legislature to consider legislation that would bring Foxconn, the world’s largest electronics manufacturing services provider, to Wisconsin. Governor Walker’s executive order requires the Legislature to commence the Wisconn Valley Special Session at 11 a.m. on August 1, 2017, solely to consider and act upon the attached legislation.
“This is a once-in-a-century opportunity for our state and our country, and Wisconsin is ready,” Governor Walker said. “Foxconn plans to bring the future of high-tech manufacturing to America, and Wisconsin is going to lead the way. I am encouraged by the bipartisan support we have seen for Wisconn Valley, and I call on the Legislature to support this measure and open the door for 13,000 direct Foxconn jobs, 10,000 direct construction jobs, and 22,000 more indirect or induced jobs related to this project. This is good for our entire state.”
Under a Memorandum of Understanding signed yesterday by Governor Walker and Foxconn Founder and CEO Terry Gou, Foxconn plans to invest $10 billion by 2020 to build a world-class manufacturing campus in Southeastern Wisconsin. The campus will create 13,000 new jobs in the state and represents the largest new greenfield investment made by a foreign-based company in U.S. history.
The legislation proposes a $3 billion incentive package that is performance-based and includes state income tax credits as well as $150 million sales tax “holiday.” Foxconn will be eligible to earn tax credits equal to 17 percent of wages paid or 15 percent of capital invested spread out over a 15-year period.
A copy of Executive Order #250 is attached.
A copy of the bill draft is also attached.
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.
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Let’s get this done and light this candle! The rocket is on the pad… ready to propel Wisconsin into an exciting new economic era of next-gen tech. Give it some fuel, and we’re on this mission together!
Wait so you support the government picking winners and losers? That doesn’t sound like something a Republican believes in.