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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Howard on July 26, 2017, 02:57:30 PM
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http://time.com/4875535/donald-trump-foxconn-wisconsin-factory/
THIS is the President Trump people wanted .
The GOP senate failed to repeal Obamacare today, but Trump wins on this deal.
Mr President, stay off twitter, ignore the silly social crap and cut deals to MAGA.
I give the President a big thumbs up on this deal.
I try to be fair and objective despite what some here think.
Ya know, I didn't support Trump, but I'm happy to see him do good stuff.
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http://time.com/4875535/donald-trump-foxconn-wisconsin-factory/
THIS is the President Trump people wanted .
The GOP senate failed to repeal Obamacare today, but Trump wins on this deal.
Mr President, stay off twitter, ignore the silly social crap and cut deals to MAGA.
I give the President a big thumbs up on this deal.
I try to be fair and objective despite what some here think.
Ya know, I didn't support Trump, but I'm happy to see him do good stuff.
What do these jobs pay? Bowl of rice per day.
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What do these jobs pay? Bowl of rice per day.
LOL, nope, good paying jobs.
Only real problem is the last factory for this company took a long to break ground
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This is a very huge win for him. CNBC just said this is the biggest job investement ever because of the the salary amount.
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We might see this factory before The Wall
but I doubt it
edit - btw The Wall is a great album.
that was one of the midnight movies when I was in high school
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[ quote author=Fuzzy Nuts link=topic=634182.msg8834639#msg8834639 date=1501111126]
What do these jobs pay? Bowl of rice per day.
[/quote]
I understand why you wouldn't know this as the liberal media barely showed the press conference. The jobs pay an average of 53K year.
I would argue that the wall is a very good album, whereas the Darkside of the moon is great.
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[ quote author=Fuzzy Nuts link=topic=634182.msg8834639#msg8834639 date=1501111126]
What do these jobs pay? Bowl of rice per day.
I understand why you wouldn't know this as the liberal media barely showed the press conference. The jobs pay an average of 53K year.
I would argue that the wall is a very good album, whereas the Darkside of the moon is great.
According to my math, each one of 13,000 potential jobs will cost over $230,000 in tax breaks. Sounds like a shit deal publicity stunt by Walker the Weasel, with an election year coming up.
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According to my math, each one of 13,000 potential jobs will cost over $230,000 in tax breaks. Sounds like a shit deal publicity stunt by Walker the Weasel, with an election year coming up.
The numbers are not 13000 jobs.
Let's also look at a couple of things.
1. Foxconn's own statement. "The planned plant initially will create 3,000 jobs, "with the potential to grow to 13,000 new jobs.""
2. Foxconn said in 2013 that they were going to build a plant in Pennsylvania which never materialized.
I wouldn't hold my breath. Foxconn is notoriously full of it.
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The numbers are not 13000 jobs.
Let's also look at a couple of things.
1. Foxconn's own statement. "The planned plant initially will create 3,000 jobs, "with the potential to grow to 13,000 new jobs.""
2. Foxconn said in 2013 that they were going to build a plant in Pennsylvania which never materialized.
I wouldn't hold my breath. Foxconn is notoriously full of it.
The article I saw said 3 billion in tax incentives if it goes to 13,000 employees, obviously less for the 3,000 initial.
Anyway, it works out, I'll bet Foxconn gets a better deal than the tax payers.
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The article I saw said 3 billion in tax incentives if it goes to 13,000 employees, obviously less for the 3,000 initial.
Anyway, it works out, I'll bet Foxconn gets a better deal than the tax payers.
I hope they got a good tax incentive.
EVERY pro stadium I ever heard of gets massive tax dollars of support to build.
If you don't get a good deal, why go into business and risk it?
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I hope they got a good tax incentive.
EVERY pro stadium I ever heard of gets massive tax dollars of support to build.
If you don't get a good deal, why go into business and risk it?
Giving taxpayer money to corporations kills small and medium size business. We need to subsidize corporations so they will do business or hire employees? BS, where there's money to be made, someone will step up.
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http://www.gmtoday.com/news/local_stories/2017/07262017-mark-belling-not-everyone-is-happy-foxconn-is-coming-to-wisconsin.asp
Here’s how it works with the Democrats in Wisconsin and their sycophants in what passes for the state’s mainstream news media. If Foxconn had decided not to locate its manufacturing plant in Wisconsin and chose another state, Gov. Scott Walker would have been blasted for blowing the deal and being unable to bring in 10,000 jobs. On the other hand, now that Foxconn is announcing it is indeed going to build in Wisconsin, Walker will be ripped for giving away the store with too much “corporate welfare” in the form of tax breaks and other giveaways.
Walker was going to be blasted regardless of what Foxconn decided.
It’s already started. Evidently sensing that Wisconsin was the Foxconn front-runner, Milwaukee Journal Sentinel business columnist David Haynes is demanding that Walker not give “too much” to Foxconn, inanely writing that Foxconn’s benefit can’t be evaluated merely on the “number” of jobs that it creates, but on the “quality” of jobs. This outright bigotry against the value of blue-collar work notwithstanding, Haynes’ column is the first shot in the attempt by the left to declare a Foxconn win to actually be a loss.
You can hear it now: “Scott Walker gave hundreds of millions in tax breaks to the Chinese so they can create a bunch of low-wage non-union jobs that exploit workers.” And, “blah, blah and blah.” In fact you already are hearing it. Urbanmilwaukee.com columnist Bruce Murphy is already demonizing Foxconn, writing that the company is “infamous for poverty level wages and horrible working conditions with riots, worker suicides and violence” at a plant in China. Yikes! They’re going to build a sweatshop here. Cue Norma Rae.
But there was no guarantee Foxconn was coming here. There has been a major bidding war with other states trying to offer even sweeter sweetheart deals than ours. Michigan, another state whose voters threw out anti-business Democrats and replaced them with reform-minded Republicans, is fighting just as hard for Foxconn and may still get an additional facility. If Wisconsin had lost, the crowd that is planning to vilify Walker for giving away the store would have carved him up for not being able to close the deal.
This, too, is already going on. Democrats keep bringing up that “only” 185,000 new jobs have been created in the state since Walker became governor, not the 250,000 he promised. Radical Madison Mayor Paul Soglin is even lying that most of the new jobs are in Madison and that he deserves the credit, not Walker. But while we haven’t hit 250,000 yet, Foxconn would move us closer to Walker’s goal. Besides, at least under Walker the job numbers are going up, not down. Walker may not be at 250,000 yet, but at least he isn’t losing jobs like Jim Doyle and the Democrats.
Walker is running for a third term next year and landing Foxconn is a major coup, particularly when combined with the state’s remarkably low unemployment rate. The Democrats don’t want Walker to score yet another victory so they are trying to somehow make Foxconn a lose-lose situation for the governor. That is pathetic, yet predictable. What is even sadder is seeing the Democrats’ media water boys parroting this hypocritical double standard.
*** Tom Still of the Wisconsin Technology Council has correctly written that it is almost impossible for the state to “overpay” Foxconn with incentives. Foxconn can’t be looked at merely in the terms of the number of jobs it creates and their level of pay. All sorts of other businesses will boom as they serve Foxconn. When major businesses move in, they create economies of their own as other businesses start up and still others expand to service the Foxconns that move in. Any cost-benefit analysis of the Foxconn deal must consider the ripple effect of the economic expansion the company would produce.
In addition, Foxconn will pump even more life into the booming Interstate 94 corridor that runs from the Milwaukee airport to the Illinois state line. Amazon and Uline have already built four enormous facilities and Chewy.com is thinking about one. Foxconn would add to the momentum and occur at the expense of northern Illinois where I94 is stupidly set up with almost no freeway interchanges. All of this must be calculated in the “cost” of whatever is given to Foxconn.
This is how the game is played, like it or not. If we didn’t give Foxconn incentives, somebody else would have. Southern states have been pillaging the industrial Midwest with these tactics for years. China, India, Vietnam and other nations are even worse. Their subsidies are so over the top that the U.S. can’t match them dollar for yen (or whatever). We can pretend it’s still 1947 and Democrats may still think it is (Tom Barrett’s dopey trolley, continued alliances with the unions, etc.). In the world we actually live in, job-creating manufacturers are valued and must be lured.
*** But what about the charge that Foxconn creates grunt jobs from “yesterday’s” economy, as Bruce Murphy and David Haynes allege? Well, it’s partly true. But that is a good thing, not a bad thing. The American lower middle class has been crushed by the loss of low-skill manufacturing positions. Not everyone can be a software designer, electrical engineer, lawyer or website blogger. Unless we compete for jobs in the middle to lower tiers of the corporate pay scale, we are giving up on having a middle class in this country. The attack on “yesterday’s” economy is snobbish, bigoted and condescending. It is also stupid. Milwaukee and Racine continue to have persistent problems of underemployment because many workers lack skills for higher-end jobs. Many of the positions Foxconn will create will be perfect for these people.
Besides, Foxconn will have jobs across the economic spectrum. There’ll be managers, custodians, executives and shop workers. It is ridiculous to argue that all of those jobs should be exiled to China.
*** Nearly seven years ago, Walker declared, “Wisconsin is open for business.” This week’s Foxconn announcement shows how dramatic our turnaround has become. The only glum faces are those of Democrats and the media that loathe the fact that Walker is succeeding.
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http://www.gmtoday.com/news/local_stories/2017/07262017-mark-belling-not-everyone-is-happy-foxconn-is-coming-to-wisconsin.asp
Here’s how it works with the Democrats in Wisconsin and their sycophants in what passes for the state’s mainstream news media. If Foxconn had decided not to locate its manufacturing plant in Wisconsin and chose another state, Gov. Scott Walker would have been blasted for blowing the deal and being unable to bring in 10,000 jobs. On the other hand, now that Foxconn is announcing it is indeed going to build in Wisconsin, Walker will be ripped for giving away the store with too much “corporate welfare” in the form of tax breaks and other giveaways.
Walker was going to be blasted regardless of what Foxconn decided.
It’s already started. Evidently sensing that Wisconsin was the Foxconn front-runner, Milwaukee Journal Sentinel business columnist David Haynes is demanding that Walker not give “too much” to Foxconn, inanely writing that Foxconn’s benefit can’t be evaluated merely on the “number” of jobs that it creates, but on the “quality” of jobs. This outright bigotry against the value of blue-collar work notwithstanding, Haynes’ column is the first shot in the attempt by the left to declare a Foxconn win to actually be a loss.
You can hear it now: “Scott Walker gave hundreds of millions in tax breaks to the Chinese so they can create a bunch of low-wage non-union jobs that exploit workers.” And, “blah, blah and blah.” In fact you already are hearing it. Urbanmilwaukee.com columnist Bruce Murphy is already demonizing Foxconn, writing that the company is “infamous for poverty level wages and horrible working conditions with riots, worker suicides and violence” at a plant in China. Yikes! They’re going to build a sweatshop here. Cue Norma Rae.
But there was no guarantee Foxconn was coming here. There has been a major bidding war with other states trying to offer even sweeter sweetheart deals than ours. Michigan, another state whose voters threw out anti-business Democrats and replaced them with reform-minded Republicans, is fighting just as hard for Foxconn and may still get an additional facility. If Wisconsin had lost, the crowd that is planning to vilify Walker for giving away the store would have carved him up for not being able to close the deal.
This, too, is already going on. Democrats keep bringing up that “only” 185,000 new jobs have been created in the state since Walker became governor, not the 250,000 he promised. Radical Madison Mayor Paul Soglin is even lying that most of the new jobs are in Madison and that he deserves the credit, not Walker. But while we haven’t hit 250,000 yet, Foxconn would move us closer to Walker’s goal. Besides, at least under Walker the job numbers are going up, not down. Walker may not be at 250,000 yet, but at least he isn’t losing jobs like Jim Doyle and the Democrats.
Walker is running for a third term next year and landing Foxconn is a major coup, particularly when combined with the state’s remarkably low unemployment rate. The Democrats don’t want Walker to score yet another victory so they are trying to somehow make Foxconn a lose-lose situation for the governor. That is pathetic, yet predictable. What is even sadder is seeing the Democrats’ media water boys parroting this hypocritical double standard.
*** Tom Still of the Wisconsin Technology Council has correctly written that it is almost impossible for the state to “overpay” Foxconn with incentives. Foxconn can’t be looked at merely in the terms of the number of jobs it creates and their level of pay. All sorts of other businesses will boom as they serve Foxconn. When major businesses move in, they create economies of their own as other businesses start up and still others expand to service the Foxconns that move in. Any cost-benefit analysis of the Foxconn deal must consider the ripple effect of the economic expansion the company would produce.
In addition, Foxconn will pump even more life into the booming Interstate 94 corridor that runs from the Milwaukee airport to the Illinois state line. Amazon and Uline have already built four enormous facilities and Chewy.com is thinking about one. Foxconn would add to the momentum and occur at the expense of northern Illinois where I94 is stupidly set up with almost no freeway interchanges. All of this must be calculated in the “cost” of whatever is given to Foxconn.
This is how the game is played, like it or not. If we didn’t give Foxconn incentives, somebody else would have. Southern states have been pillaging the industrial Midwest with these tactics for years. China, India, Vietnam and other nations are even worse. Their subsidies are so over the top that the U.S. can’t match them dollar for yen (or whatever). We can pretend it’s still 1947 and Democrats may still think it is (Tom Barrett’s dopey trolley, continued alliances with the unions, etc.). In the world we actually live in, job-creating manufacturers are valued and must be lured.
*** But what about the charge that Foxconn creates grunt jobs from “yesterday’s” economy, as Bruce Murphy and David Haynes allege? Well, it’s partly true. But that is a good thing, not a bad thing. The American lower middle class has been crushed by the loss of low-skill manufacturing positions. Not everyone can be a software designer, electrical engineer, lawyer or website blogger. Unless we compete for jobs in the middle to lower tiers of the corporate pay scale, we are giving up on having a middle class in this country. The attack on “yesterday’s” economy is snobbish, bigoted and condescending. It is also stupid. Milwaukee and Racine continue to have persistent problems of underemployment because many workers lack skills for higher-end jobs. Many of the positions Foxconn will create will be perfect for these people.
Besides, Foxconn will have jobs across the economic spectrum. There’ll be managers, custodians, executives and shop workers. It is ridiculous to argue that all of those jobs should be exiled to China.
*** Nearly seven years ago, Walker declared, “Wisconsin is open for business.” This week’s Foxconn announcement shows how dramatic our turnaround has become. The only glum faces are those of Democrats and the media that loathe the fact that Walker is succeeding.
Mark Belling. You're kidding right? ::)
Suck Walkers nuts if you want. This is a bad deal.
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Remind me again how great this rino corporate welfare deal is.
Wisconsin is not projected to break even on a $3 billion incentive package for a proposed LCD screen plant by Taiwan's Foxconn for at least 25 years, a legislative analysis showed on Tuesday.
https://www.reuters.com/article/us-foxconn-wisconsin-idUSKBN1AO2JQ (https://www.reuters.com/article/us-foxconn-wisconsin-idUSKBN1AO2JQ)
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Remind me again how great this rino corporate welfare deal is.
Wisconsin is not projected to break even on a $3 billion incentive package for a proposed LCD screen plant by Taiwan's Foxconn for at least 25 years, a legislative analysis showed on Tuesday.
https://www.reuters.com/article/us-foxconn-wisconsin-idUSKBN1AO2JQ (https://www.reuters.com/article/us-foxconn-wisconsin-idUSKBN1AO2JQ)
yes, those tax dollars should not be going towards the creation of jobs! They should be going to the gays, transgenders, and blacks! >:(
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yes, those tax dollars should not be going towards the creation of jobs! They should be going to the gays, transgenders, and blacks! >:(
Whatever you're into.
Support entitlements for foreign companies. ::)
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Whatever you're into.
Support entitlements for foreign companies. ::)
foreign companies > "moderate" rebel groups in the Middle East > gays, trannies, and blacks
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foreign companies > "moderate" rebel groups in the Middle East > gays, trannies, and blacks
even when these people are here in the US?
What happened to "America First"?
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Whatever you're into.
Support entitlements for foreign companies. ::)
Well, that's an easy stance to take when nothing is USA made. It's Apple's fault that this company even exists. You know, Apple - the company that holds all their profits outside of the USA tax system - that one.
We continue to outsource our production capabilities to other countries and then complain when they later have all the power. This is honestly the only way to get some jobs back in the country when they are paying people slave wage to live in dorms in China.
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even when these people are here in the US?
What happened to "America First"?
Those groups don't even care about "america"
They only care about being a victim
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Well, that's an easy stance to take when nothing is USA made. It's Apple's fault that this company even exists. You know, Apple - the company that holds all their profits outside of the USA tax system - that one.
We continue to outsource our production capabilities to other countries and then complain when they later have all the power. This is honestly the only way to get some jobs back in the country when they are paying people slave wage to live in dorms in China.
I agree with most of this. Just the price is too high for these low paying jobs. There is an Amazon where Foxconn plans on building that cannot find workers.
The money would be better spent doing something for small to medium business growth. imo
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I agree with most of this. Just the price is too high for these low paying jobs. There is an Amazon where Foxconn plans on building that cannot find workers.
The money would be better spent doing something for small to medium business growth. imo
They'll find those jobs when they start scaling back/drug testing for entitlements. Amazon opened two hubs in the metro near me. They had no problem finding people.
Small to medium businesses are not on same playing field as a company like Amazon....so you're throwing good money after bad as long as you allow AMZN and the like to continue at 0 net profit business model due to loopholes and govt collusion.
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Remind me again how great this rino corporate welfare deal is.
Wisconsin is not projected to break even on a $3 billion incentive package for a proposed LCD screen plant by Taiwan's Foxconn for at least 25 years, a legislative analysis showed on Tuesday.
https://www.reuters.com/article/us-foxconn-wisconsin-idUSKBN1AO2JQ (https://www.reuters.com/article/us-foxconn-wisconsin-idUSKBN1AO2JQ)
The LFB by it's own admission is nothing more than a speculation, yet the mainstream media runs with bogus numbers and cherry picks what they report.
http://docs.legis.wisconsin.gov/misc/lfb/bill_summaries/2017_19/0001_ss_ab_1_foxconn_fiserv_legislation_8_8_17.pdf
any cash flow analysis that covers a period of
nearly 30 years must be considered
highly speculative, especially for a manufacturing facility and equipment that may have a limited
useful life. Technological advances and changes in Foxconn's market share, operating procedures,
or product mix could significantly
affect employment and wages at the proposed facility over time.
Also, state law changes could affect the estimated amount of
tax collections
received from the
additional economic activity,
and any future state assistance that may be provided to Foxconn
would affect the analysis
In addition, investment analyses typically use a discounted cash flow methodology to
account for the cost of capital. The DOA analysis expresses all amounts in current dollars and does
not utilize a discount rate for future cash flows. Depending upon what discount rate is used,
accounting for the cost of capital could push the break
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even point for the project further into the
future. On the other hand, the analysis did not assume any wage inflation, which would result in
greater future cash flows to the state and a shorter break-even period.
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The LFB by it's own admission is nothing more than a speculation, yet the mainstream media runs with bogus numbers and cherry picks what they report.
http://docs.legis.wisconsin.gov/misc/lfb/bill_summaries/2017_19/0001_ss_ab_1_foxconn_fiserv_legislation_8_8_17.pdf
any cash flow analysis that covers a period of
nearly 30 years must be considered
highly speculative, especially for a manufacturing facility and equipment that may have a limited
useful life. Technological advances and changes in Foxconn's market share, operating procedures,
or product mix could significantly
affect employment and wages at the proposed facility over time.
Also, state law changes could affect the estimated amount of
tax collections
received from the
additional economic activity,
and any future state assistance that may be provided to Foxconn
would affect the analysis
In addition, investment analyses typically use a discounted cash flow methodology to
account for the cost of capital. The DOA analysis expresses all amounts in current dollars and does
not utilize a discount rate for future cash flows. Depending upon what discount rate is used,
accounting for the cost of capital could push the break
-
even point for the project further into the
future. On the other hand, the analysis did not assume any wage inflation, which would result in
greater future cash flows to the state and a shorter break-even period.
Seems your cherry picking, too. Ok, let's say they are way off and it only takes 18 years to break even. That would be a good deal?
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Seems your cherry picking, too. Ok, let's say they are way off and it only takes 18 years to break even. That would be a good deal?
Yes. There are multitudes of factors not taken into consideration/reported by the naysayers. Perhaps this will shed some light.
Quantifying Project Flying
Eagle’s potential economic
impacts in Wisconsin
Prepared by EY Quantitative Economics
and Statistics (QUEST)
Confidential
July 2017
Executive summary
EY was retained by a Fortune 50 global manufacturer (the “Company”) who is currently conducting a site
selection search for their proposed investment within the United States. Wisconsin has been identified as
a potential location for this proposed investment, which will be referred to throughout this report as “Project
Flying Eagle” or the “Project”.
As part of the engagement, EY has been commissioned to estimate the potential economic impacts in
Wisconsin that would result from the construction and operations of a proposed generation 10.5 LCD
fabrication facility, related Liquid Crystal Module (LCM) assembly and final TV assembly operations (Fab
818). This analysis estimated economic and tax effects related to: (1) temporary impacts related to Project
development (capital expenditures) and (2) the ongoing annual impacts from Project operations. Table ES-
1 summarizes the estimated economic and tax impacts.
One-time impacts from capital expenditures:
The proposed construction of a new Fab 818 facility in
Wisconsin will generate economic impacts over the anticipated four-year construction period. These
impacts result from spending on construction services and Wisconsin-sourced materials and equipment.
These impacts are described as “one-time” because they do not recur.
•
The Project will require an estimated $10.00 billion of capital investment to construct and equip the
facility.
•
Of this, an estimated $5.70 billion will be for construction and equipment sourced from within
Wisconsin (direct economic output). This direct spending, along with the related indirect and
induced economic activity will support an average of
16,205 construction and related jobs in
Wisconsin
over the 4-year construction period (direct, indirect, and induced effects).
•
Project capital investment will support a one-time shock of
$9.34 billion in sales for Wisconsin
businesses (total economic output over four years).
•
The anticipated $5.57 billion of direct construction expenditures will account for 60% of the
estimated total business sales shock. This spending will support an average of 10,145 direct jobs
on-site during each year of construction.
1
•
Over the period, direct employees at construction contractors and Wisconsin equipment
manufacturers will earn an estimated
$2.44 billion in direct labor income.
•
Capital investments will generate nearly $500 million in state and local tax revenues for
Wisconsin governments.
Of this total, an estimated $154 million will be state and local sales taxes
on construction materials.
2
Ongoing operating impacts:
The Project’s operations will support jobs and incomes in Wisconsin on an
ongoing basis. The estimated impacts reflect the anticipated annual operations of the Fab 818 facility, once
fully-operational (stabilized operations).
3
•
The project will directly employ 13,000 workers in Wisconsin, once fully operational.
•
Project employees will earn an average of $73,500 in total compensation, including
estimated wages, overtime, and benefits.
4
Base wages will average $53,875
EY | ii
•
The Fab 818 facility’s operations will support over 35,245 jobs throughout Wisconsin
. This
includes jobs at Project Flying Eagle as well as jobs related to Project suppliers (indirect jobs) and
businesses that sell to Project and supplier employees (induced jobs).
•
The estimated indirect employment impacts include 400 jobs at a glass manufacturer that
would be co-located with the Project.
•
Based on current information, the Project will result in a 2.7x multiplier on direct
employment.
This multiplier can be interpreted as: for every 10 direct jobs, 17 additional jobs will
be supported elsewhere in the state through indirect and induced economic activity – 27 jobs total.
5
•
The total (direct, indirect, and induced) impact on
state economic output will be an estimated
$11.11 billion, nearly half of which (47%) will be state GDP ($5.22 billion).
•
Fab 818 facility operations
will support an estimated $181 million in state and local tax
revenues
annually through indirect and induced economic activity and taxes paid by Project
employees on their incomes, purchases, and property.
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http://www.jsonline.com/story/money/business/2017/10/24/final-agreement-between-state-and-foxconn-appears-imminent-key-local-figure-says/792335001/
A key local participant in efforts to prepare the way for a massive Foxconn electronics factory in the Village of Mount Pleasant said Monday night that he's been told all major issues between the giant Taiwanese manufacturer and the state have been settled.
If so, it signals that, despite doubts raised last week, a final agreement between the state and company on the up to $10 billion, 13,000-job development is imminent.
"We have been told by the Foxconn people and the state people that everything has been resolved," Alan Marcuvitz, an attorney who has been advising Mount Pleasant, said at a meeting of the village board. "There are some technical issues regarding the execution of the (state-Foxconn) document because one of the companies is from overseas. They are smoothing out that problem."
Delays in execution of a final contract between Foxconn and the board of the Wisconsin Economic Development Corp. on a $3 billion taxpayer incentive package for the flat-screen plant have fueled speculation that serious problems have arisen to threaten the deal.
Gov. Scott Walker on Sept. 17 signed legislation authorizing the incentive package, but final state action on executing a contract specifying the incentives and Foxconn's obligations rests with the WEDC board. The deal was supposed to be completed by Sept. 30, but now the board is not expected to vote before its Nov. 8 meeting.
WEDC Chief Executive Officer Mark Hogan has said the state and Foxconn continue to work together toward a final agreement, and that the delays are not a sign of problems.
But last week, Sen. Tim Carpenter (D-Milwaukee), a member of the WEDC board and opponent of the deal, said the vote delay was caused by an unspecified issue "very, very major to the contract."
"They didn't do their due diligence," he said of WEDC.
Marcuvitz, however, indicated Monday night that the path to a final agreement has been cleared.
"I'm not going to say 'if' the Foxconn project goes ahead," he told village trustees. "I'm going to say 'when.' "
A state-Foxconn deal isn't the only one pending.
Last month, the village and Racine County signed a “memorandum of understanding” with a company subsidiary that envisions $764 million in local help for Foxconn, with the money to be repaid over 30 years by property taxes on the company’s vast manufacturing complex. That preliminary agreement, too, has yet to be finalized.
The village board, however, approved two other steps in anticipation of a Foxconn deal.
Trustees agreed to give the state jurisdiction over village roads in the project area while work to improve them is underway. Racine County similarly is expected to temporarily give the state jurisdiction over county roads in the Foxconn development area. The state then would take charge of all the roadway work.
The board also approved contracts with several firms for Foxconn-related work. Contracts were approved with:
--The Sigma Group Inc., of Milwaukee, to assess whether soil and groundwater were contaminated by a former salvage yard just east of I-94, and a former petroleum storage site north of Braun Road.
--Pitts Brothers & Associates LLC, Kenosha; Single Source Inc., Brookfield; and The Nicholson Group LLC, Hartland, for property appraisals.
--Real Estate Underwriting Services Inc., Wauwatosa, to review the appraisals.
--G.J. Miesbauer & Associates Inc., Belleville; and TerraVenture Advisors LLC, Elm Grove, to acquire properties and help displaced residents and businesses relocate. Some 120 properties are affected, Miesbauer estimates. TerraVenture also will manage acquired properties, providing such services as securing them, winterizing them and coordinating utility disconnections.
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I agree with most of this. Just the price is too high for these low paying jobs. There is an Amazon where Foxconn plans on building that cannot find workers.
The money would be better spent doing something for small to medium business growth. imo
There are many many small and medium sized businesses that will benefit from this.
(http://foxconnwi.com/wp-content/uploads/wisconn-valley-1024x536.jpg)
(https://www.gannett-cdn.com/-mm-/7e29ff26aecff7e8bd247ee51ba6e433ac6b1e48/c=11-0-5139-2897&r=x1683&c=3200x1680/local/-/media/2018/05/30/WIGroup/Milwaukee/636632914832173703-foxconn-sisti-desisti-3748.JPG)