Michigan Governor Snyder, Foxconn Meet to Discuss Possible Michigan Plant

Michigan Governor Snyder, Foxconn Meet to Discuss Possible Michigan Plant

The memo did not account for additional investments to which Foxconn might later commit, such as a second facility the company is considering siting in Dane County.

Todd Berry, president of the Wisconsin Taxpayers Alliance, said if state revenues don't grow enough, lawmakers will likely to have make cuts elsewhere in the budget to make those payments.

"I think we found a lot of common ground and they see a lot of value in MI, which you can see by his (Terry Guo) comments", said Snyder.

Governor Scott Walker responded by comparing the Foxconn deal to the Green Bay Packers signing DE Reggie White - calling both "transformational".

Kenosha County and the stadium district could benefit from local sales tax revenue connected to developments related to the plant.

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. "I don't know", said Rep Gordaon Hintz (D) Oshkosh. "I want a piece of that man's flesh if they back out of here", a speaker said.

In calculating the additional taxes from the deal, the fiscal bureau relied on Foxconn-funded projections that company suppliers and local businesses such as restaurants would also create 22,000 good jobs outside the plant, for a total of up to 35,000. "We need more input from our citizens", Brostoff said.

"We are not sure if the investment figure will reach $30 billion in the United States", Gou said.

The report said if 10 percent of projected new jobs from the project were filled by IL residents, a concern of several lawmakers, the state would not break even until about 2044.

Snyder's communications team has not confirmed the report, but did release a statement from the governor which included a picture with the chairman.

"Besides Wisconsin, Foxconn is also in talks with other states".

Under Gov. Scott Walker's plan, the state will give Foxconn $3 billion in incentives. Walker defended the proposal. The company is promising to hire up to 13,000 people over six years.

New fiscal estimates show Gov. Scott Walker's incentives package for electronics giant Foxconn would cost the state and local governments almost $50 million in lost sales taxes.

"We've never had any discussions with Foxconn", said Lyon Township Supervisor John Dolan.

"So it will take some time, but think it is well worth it".

The legislature if expected to vote on that incentives package, before the end of this month.



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