Newspaper article St Louis Post-Dispatch (MO)

Wisconsin Governor Signs $3 Billion Foxconn Bill into Law

Newspaper article St Louis Post-Dispatch (MO)

Wisconsin Governor Signs $3 Billion Foxconn Bill into Law

Article excerpt

STURTEVANT, Wis. * Gov. Scott Walker signed a $3 billion incentive package Monday for Foxconn Technology Group to build a flat-screen plant in southeastern Wisconsin, a deal he says will provide thousands of jobs for generations.

Walker signed the bill during a packed ceremony at Gateway Technical College in Sturtevant in Racine County, where the plant likely will be located.

The Wisconsin Economic Development Corp. still must finalize a contract with Foxconn, then meet on Sept. 28 to approve the agreement.

The bill provides nearly $3 billion in cash to Foxconn if it invests $10 billion in a new flat-screen factory in southeastern Wisconsin and employs 13,000 people. The measure provides $150 million in sales tax exemptions on construction equipment and allows the company to build in wetlands and waterways. …

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