Wisconsin Democracy Campaign
Campaign Cash

Bill Has $10 Million Giveaway to Fiserv

Included in Foxconn bill. Fiserv employees donated $15,400 to state politicians.

By - Aug 8th, 2017 11:56 am
American Cash by Psychonaught. Photo of money

American Cash by Psychonaught. Photo of money

A bill that would provide $3 billion in state giveaways for Foxconn to locate a manufacturing plant in southeastern Wisconsin also includes millions in tax breaks for a big campaign contributor to Republican Gov. Scott Walker.

The bill, which is expected to be voted on by the legislature this month, includes $10 million in tax breaks intended to keep Fiserv, a Brookfield-based company that makes products for banks and credit unions, from relocating its headquarters to another state.

The company is considering sites around Milwaukee, but has not ruled out locating its new headquarters outside Wisconsin. Fiserv is a Fortune 500 company that had $5.5 billion in revenue in 2016 and about 23,000 employees at 120 global offices.

The current proposal in the Foxconn bill calls for the state to give Fiserv $2 million a year for five years if it keeps at least 93 percent of its full-time employees and headquarters in the state.

Between January 2010 and December 2016, Fiserv employees contributed about $15,400 to legislative and statewide candidates, including about $14,800 to Republican candidates.

Topping the list of recipients of Fiserv campaign contributions was Walker, who received about $7,500, followed by GOP Sen. Alberta Darling, of River Hills, who accepted $3,200, and Lt. Gov. Rebecca Kleefisch, who received $2,500.

Campaign finance records show no contributions from Foxconn employees to Wisconsin legislative and statewide candidates through last December.

Categories: Business, Real Estate

One thought on “Campaign Cash: Bill Has $10 Million Giveaway to Fiserv”

  1. Wool says:

    A “major” campaign contributor to Scott Walker? Scott Walker raised over $80 million between 2010 and 2016 through his state fundraising committee. You really think he awarded a multi-million dollar state grant over $15K in campaign donations? Foxconn hasn’t contributed a dime and got a $3 billion dollar deal.

    Call it corporate cronyism. Call it a lousy deal for the state. Come out and advocate for an alternative approach to economic development. But this is not political corruption. Maybe you should keep your powder dry for when it actually is.

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