Wisconsin Assembly approves Foxconn incentives

MADISON, Wis. — The Wisconsin Assembly sent a $3 billion incentive package for Foxconn Technology Group to Gov. Scott Walker on Thursday, signing off on a deal to lure the Taiwan-based electronics giant with the biggest subsidy to a foreign company in U.S. history.

The bill approved on a 64-31 vote would make $2.85 billion available to Foxconn in cash payments if it invests $10 billion and hires 13,000 workers. The Senate approved the proposal Tuesday.

The Republican governor was in South Korea on a trade mission but pledged to sign the incentives package into law soon.

The Wisconsin plant would construct liquid crystal display panels for televisions, computers and other uses.

The total incentive package is 10 times larger than anything ever approved in Wisconsin.

Foxconn issued an unsigned statement thanking Wisconsin, saying the incentives “will help us move forward with our plans to build the state-of-the-art advanced display manufacturing campus.” It also pledged to make extensive use of the supply chain in the state to make Wisconsin “a center of worldwide high-tech manufacturing.”

The Assembly passed the bill with all Republicans and four Democrats in support. Two Republicans joined all other Democrats against.

Opponents objected to a provision that would allow the Wisconsin Supreme Court to take appeals of certain lawsuits related to Foxconn, skipping the appeals court. No other business in the state is provided such an expedited route.

Under the bill, the company would have 15 years to access the maximum $2.85 billion in cash payments tied to investment and hiring numbers. They can also receive $150 million in sales tax exemptions on construction equipment.