How to Improve the Foxconn Contract

Should Wisconsin seek to renegotiate the deal it made with Foxconn?  If so, how should the contract be changed?

The answer to the first question is pretty clearly yes; Governor Evers and the Wisconsin Economic Development Corporation (WEDC) should sit down with Foxconn and talk about options for making the contract better for all involved.

A new deal is worth pursuing because it could potentially reduce the risk that Foxconn will drop its plans for a manufacturing facility in Racine County. At this point, that outcome would be a costly blow for state and local taxpayers since hundreds of millions of tax dollars have already been spent for infrastructure improvements for the planned facility...

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Ken Notes: Governor Evers should first sit down with WEDC and create a new set of incentives available to ALL new and expanding businesses in Wisconsin. No politics, no favoritism, no regionalism -- If you hire new employees and pay a good wage and provide good benefits (to them and the rest of your employees) you get a tax credit. If you need to downsize the credits go away. Also develop a cleaner TIF program for the communities so they can fund new projects they want provided they have a development agreement in place to guarantee value and thus a return on their investment.

THEN sit down with Foxconn and suggest you are willing to help them get back on track, in fact you have a new program...



- - Volume: 7 - WEEK: 19 Date: 5/9/2019 9:58:05 AM -