Memo says Foxconn cost to taxpayers could near $4.5 billion
MADISON, Wis. (AP) — A new analysis from the Legislature’s nonpartisan Fiscal Bureau says the cost to taxpayers for a Foxconn Technology Group manufacturing complex in southeast Wisconsin could near $4.5 billion.
The memo was released Tuesday by Democratic Assembly Minority Leader Gordon Hintz.
Gov. Scott Walker has championed the project and the Republican-controlled Legislature approved a state tax incentive package that could be about $3 billion paid out over 15 years.
But the memo details other public costs including $764 million in local government incentives, the $408 million expansion of Interstate 94 north and south and $134 million in road improvements.
Walker and proponents of the project say the potential $10 billion investment by the Taiwanese company and hiring of up to 13,000 jobs will transform the state and region’s economy.