Thanks to Leadership of Governor Walker, Tens of Thousands of New Jobs Will Be Created in Wisconsin
August 22, 2017
[Madison, WI]—Foxconn Technology Group’s plan to make a $10 billion investment in Wisconsin will have big returns for the state. A new report from a UW-Madison economist covered by the Milwaukee Journal Sentinel outlines how the state of Wisconsin would see a return of $4 for every $1 invested, in addition to the tens of thousands of family-supporting jobs created by Foxconn’s investment.
Read the full coverage from the Milwaukee Journal Sentinel here or read excerpts below.
Report: Foxconn could return nearly $4 for every $1 in state subsidy
Milwaukee Journal Sentinel
Rick Romell and Jason Stein
August 21, 2017
A massive manufacturing complex planned by Foxconn Technology Group could generate broad gains for Wisconsin “that go far beyond the direct job estimates and tax revenue costs which have dominated the recent discussion,” according to a report by a UW-Madison economist released Monday.
If the Taiwan-based electronics manufacturer employs 13,000 people in the state, the ripple effect could spawn an additional 19,000 to 26,000 jobs through growth from the company’s suppliers and other businesses in the region, said Noah Williams, director of the Center for Research on the Wisconsin Economy.
That could mean a return of $3.90 for every $1 in state subsidy costs spent to lure Foxconn and its planned investment of up to $10 billion, Williams said in his report, which was commissioned by the Wisconsin Technology Council.
Also Monday, a Foxconn executive said the company could start work on its Wisconsin campus as early as next year with three factory lines.
Louis Woo, special assistant to Foxconn Chairman Terry Gou, told Reuters the company could initially set up a packaging line, molding line and assembly line at a cost of under $1 billion.
Read the full story here.