Lawmakers skeptical of deal Foxconn’s getting from Wisconsin

Company will pay minimum of $30,000 salary for each worker. 

MADISON — Some lawmakers remain unconvinced about the promises of Foxconn in Wisconsin.

During a hearing in Madison on Thursday, several expressed skepticism over the $3 billion incentive plan for the Taiwan electronics giant to move to the state.

Democratic state rep. Amanda Stuck says the incentive package seems too rich.

“It sounds like they were already looking at coming here,” Stuck (pic right) said. “It sounds like they already 
had a lot of reasons to be here. So why do we have to be held ransom for $3 billion when they should be able to come here based on our incredible workforce and the resources we have here?

“Why should they come to us with their hand out when there’s already reasons for them to come here?”

MarketWatch stated three reasons why the Foxconn deal isn’t a great one for Wisconsin, highlighted by this when it comes to that $3 billion in incentives:

To put in into perspective, Wisconsin is promising to pay Foxconn the equivalent of $66,600 per employee, based on having 3,000 workers in the plant, for each of the next 15 years, while Foxconn is promising pay of less than $54,000 a year. By comparison, the much-touted deal last November to save 800 jobs at a Carrier factory in Indianapolis is costing Indiana $7 million over 10 years — or $875 a year.

One of the requirements in the deal is that Foxconn will pay a minimum of $30,000 a year to each worker and an eventual promise of 13,000 jobs. Analysts say those jobs will spawn thousands more in the state.

Milwaukee state rep. David Crowley (left) was also not entirely sure the deal is a good one.

“I just want to make sure we’re getting the best bang for our buck when it comes down to this deal,” he said. “I think it’s extremely important we fight for whatever we need to protect the taxpayers.”

Members of Wisconsin Gov. Scott Walker’s cabinet made it clear that Foxconn and its promise of 13,000 jobs and a $10 billion investment is a non-starter without that $3 billion in incentives.