State Rep. Katrina Shankland
Press Release

Rep. Shankland: Statement on Foxconn Analysis

"Even under the most favorable circumstances, we now know that the state won’t break even on the Foxconn project until 2043."

By - Aug 8th, 2017 03:59 pm

MADISON – Today, the non-partisan Legislative Fiscal Bureau (LFB) released an analysis on the fiscal impacts of the state’s proposed investment in Foxconn. Highlights include:

  • Costs to taxpayers will exceed new state tax revenues until fiscal year 2032-33.
  • The Foxconn project will not break even until fiscal year 2042-43.
  • The administration’s estimates fail to account for inflation and rely on the assumption that Foxconn will create no fewer than 13,000 jobs and that all jobs will be filled by Wisconsin residents.

In response, Rep. Katrina Shankland (D-Stevens Point) released the following statement:

“Even under the most favorable circumstances, we now know that the state won’t break even on the Foxconn project until 2043. With taxpayers being asked to spend up to $312 million in one year and $3 billion total, I’m concerned that the Foxconn deal could have widespread effects on our ability to balance a responsible budget for years to come. This will directly impact our other priorities like public schools, roads, and healthcare.

“That’s why I joined my Democratic colleagues in calling for a second public hearing on the Foxconn bill. The Joint Finance Committee should convene immediately to discuss this bill in the context of our current and future budgets. It’s not too much to ask for another opportunity for legislators to ask questions and for the people of Wisconsin to make their voices heard.

“Jobs and new business growth are important to the future of our state. So is a budget that invests in our most valuable assets – public education, our workforce, and our infrastructure. The state must be reasonable, prudent, and measured as we consider the Foxconn project and the impacts Foxconn will have on our existing fiscal responsibilities to the people of Wisconsin. I welcome due diligence and debate on this issue and appreciate the Legislative Fiscal Bureau’s analysis on the Foxconn bill.”

More about the Foxconn Facility

Mentioned in This Press Release

Recent Press Releases by State Rep. Katrina Shankland

Rep. Shankland Applauds Governor Evers’ Leadership on Clean Energy and Sustainability

"The simple fact is that we’ve got to act on climate change."

Rep. Shankland: Republican So-called “Campus Free Speech” Bill Likely To Do Just The Opposite

"I’m especially concerned about the far-reaching impact this legislation could have on freedom of speech on campus."

Rep. Shankland: Governor Evers Leads on Preventing Nitrate Contamination

"These new efforts by the Governor, DNR, and DATCP tackle the root of our pollution runoff problems and will help to prevent future nitrate contamination."

Leave a Reply

You must be an Urban Milwaukee member to leave a comment. Membership, which includes a host of perks, including an ad-free website, tickets to marquee events like Summerfest, the Wisconsin State Fair and the Florentine Opera, a better photo browser and access to members-only, behind-the-scenes tours, starts at $9/month. Learn more.

Join now and cancel anytime.

If you are an existing member, sign-in to leave a comment.

Have questions? Need to report an error? Contact Us