By Tim Kowols
A delay in the Wisconsin Economic Development Corporation’s vote on its nearly $3 billion incentive package with electronics manufacturer Foxconn has some legislators worried about what the state could be giving to the company. According to the Wisconsin State Journal, the WEDC and Foxconn began negotiating on the deal after the state Legislature approved the incentives in September. The deal currently includes $2.85 billion in refundable tax credits and a sales tax exemption from the state in addition to millions more from Racine County in exchange for bringing a $10 billion plant and potentially 13,000 jobs to the state. State Senator Dave Hansen says given the WEDC’s track record, any contract signed between the group and Foxconn should be approved by the state Assembly and Senate.
Hansen says Senate Democrats tried to amend the original Foxconn legislation to include the provision that any contract with Foxconn be approved by the Joint Finance Committee, but it failed along a party line vote. The vote on the Foxconn contract is expected to take place in November.