Foxconn gamble shrouded in secrecy
Democrats urge transparency in Foxconn deal
MADISON, WI – Democrats on the Joint Finance Committee sent a letter requesting Wisconsin Economic Development Corporation Secretary (WEDC) Mark Hogan submit the pending Foxconn contract to the budget committee for approval. After years of corruption and mismanagement at the WEDC, Democrats have serious concerns that the troubled jobs agency isn’t acting in the best interest for Wisconsin taxpayers. The proposal is the largest state taxpayer giveaway to a foreign corporation in U.S. history and taxpayers could be liable for more than $3 billion.
“Gov. Walker and Legislative Republicans are committing state taxpayers to $3 billion in corporate subsidies while taking money away from classrooms, roads and health care for decades,” said Senate Democratic Leader Jennifer Shilling (D-La Crosse). “The lack of transparency throughout this process shows there is a higher risk to taxpayers and communities than Gov. Walker and Republican lawmakers are willing to admit. Given Foxconn’s concerning track record, we need more openness and transparency from Gov. Walker’s administration before committing families to years of economic costs and liabilities.”
With the high unpredictability in the electronics industry, workforce shortage issues and the company’s stated desire to automate its manufacturing operation, it is unclear how many of the promised jobs will materialize. Numerous media outlets have highlighted a pattern of Foxconn’s broken promises on economic development. The Washington Post detailed a series of “splashy jobs announcements” from Foxconn that promised thousands of jobs and billions in investments that never quite materialized in Pennsylvania, Indonesia, India, Vietnam and Brazil.
- State Reviewing Foxconn Jobs Report - Erik Gunn - Jul 23rd, 2020
- Foxconn Hosts Smart Manufacturing Web Conference, Launches iAI Institute - Foxconn Technology Group - Jul 10th, 2020
- Foxconn Will Make 10K Ventilators - Corri Hess - Jun 19th, 2020
- Medtronic and Foxconn Partner to Increase Ventilator Production - Foxconn Technology Group - Jun 18th, 2020
- Foxconn Audit Delayed Two Months - Erik Gunn - Jun 3rd, 2020
- Back in the News: Foxconn’s Profits Plunge By 90% - Bruce Murphy - May 19th, 2020
- Foxconn to Assemble Procedural Masks in Wisconsin for Pandemic Relief - Foxconn Technology Group - Apr 20th, 2020
- Murphy’s Law: Foxconn Squeezes Evers - Bruce Murphy - Apr 15th, 2020
- Foxconn Says It Earned Tax Credits - Corri Hess - Apr 9th, 2020
- Back in the News: Foxconn Plant Will Make Ventilators - Bruce Murphy - Apr 8th, 2020
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