On Monday, Governor Scott Walker signed the Wisconn Valley Special Session Bill into law. The law will create a new enterprise zone, Wisconn Valley, where Foxconn will build a $10 billion manufacturing facility, employing 10,000 people during the construction. The Foxconn campus will hire 3,000 permanent workers, with anticipated growth up to 13,000, with an average salary of $53,875 plus benefits. In addition, another 22,000 jobs are expected from the economic activity. The estimated economic of Foxconn coming to Wisconsin is $7 billion annually.
In return, the state of Wisconsin will give Foxconn $3 billion in economic incentives, including $1.35 billion in tax credits for capital investment and $1.5 billion in tax credits for employing workers earning between $30,000 and $100,000 per year. The tax credits are paid out over 15 years and are only paid when the employment and capital investment targets are met.
Some pictures from the event:
Senate Majority Leader Scott Fitzgerald, R-Juneau, and Assembly Speaker Robin Vos, R-Rochester, sitting together in the front row for the bill signing. Photo by Bill Jaeck
Governor Scott Walker standing in front of construction workers. Photo by Bill Jaeck.
Governor Scott Walker signs the bill as Senator Van Wanggaard, R-Racine, looks over his shoulder. Photo by Bill Jaeck.
