More companies want Foxconn deal to come to Wisconsin

Here we go again. Governor Walker and the legislature opened a Pandora’s Box when they promised billions of dollars in our tax money to Foxconn in exchange for the promise of thousands of jobs. It is no surprise then that other companies hoping to set up shop in the state have their hands out too. The latest is Corning Inc., which wants to locate near Foxconn and provide the company with the glass it needs to make its flat screens. The fact that a company wants to build in Wisconsin and put people to work here would be great news if it didn’t come with such a hefty pricetag. Corning wants Wisconsin taxpayers to fund two-thirds of the cost of building the plant, which could top $1 billion. If lawmakers were to go along with this scheme, taxpayers could end up funding $600 million of that. The company’s CEO says the company wants to pay no more than one-third of the cost of building the plant, but retain 100% of the profits. The goal is to provide high returns for their investors. So, they could afford to build the plant themselves, it just wouldn’t make them as rich. What about taxpayers? What is our return? We have already pledged more than $4 billion in tax money to Foxconn. We can’t afford to keep subsidizing these private industries. But since the Pandora’s box has been opened, it is no surprise more companies are asking for our money.