Wisconsin can’t afford to risk being conned by Foxconn

It certainly seems like good news. The best we have heard for awhile when it comes to growing Wisconsin’s economy. Foxconn, a Taiwanese manufacturer of LCD panels, plans to spend $10 billion on its first American plant, to be built somewhere in Southeast Wisconsin. The company could provide in excess of 13,000 jobs. Good jobs, paying an average of more than $50,000 a year. This would be a major shot in the arm to the Wisconsin economy. But before we get giddy, there are a lot of questions that need to be answered, and a lot of money to be found, before any shovels go in the dirt. Foxconn first wants $3 billion in state subsidies. That’s our tax dollars they are talking about. It is also 50 times more than any previous state subsidy ever provided to a company in Wisconsin’s history. There is a huge pricetag associated with this possible deal. Where will all that money come from? Lawmakers for years haven’t been able to figure out how to pay for better roads, but suddenly we have $3 billion to hand out? Onalaska State Rep. Steve Doyle is right. This deal needs to be crafted very carefully.They are sure to drive a hard bargain, and the Wisconsin Economic Development Corporation doesn’t have a great track record protecting our tax dollars. We should not throw money at them, or bribe them to come. We can’t afford to risk being conned by Foxconn.