Wisconsin-Foxconn deal could cost public $4.5 billion

Wisconsin-Foxconn deal could cost public $4.5 billion
© Greg Nash

A planned Foxconn manufacturing facility in southwest Wisconsin could cost taxpayers roughly $4.5 billion, a state assemblyman said Tuesday.

Wisconsin Assemblyman Gordon Hintz (D) told reporters that a memo from the state legislature’s fiscal bureau indicated the cost of the facility to the public will likely be higher than the $3 billion Gov. Scott Walker (R) projected last year.

News of the memo was first reported by the Wisconsin State Journal.

The $4.5 billion mostly consists of costs to state government through tax credits the state granted Foxconn over a 15-year period. Other factors included are utility costs, road improvements and local government grants, according to the State Journal.

Walker has said the the manufacturing facility could employ as many as 13,000 people.

President TrumpDonald John TrumpPoll: Both parties need to do more on drug prices Senate approves .3 trillion spending bill, sending to Trump White House: Trump will delay steel tariffs for EU, six countries MORE announced last summer that Foxconn would build its new $10 billion plant in Wisconsin to produce LCD screens. The White House touted the company’s investment as a boon to the state’s economy that would create thousands of jobs.

Trump later said Foxconn CEO Terry Gou told him privately that the company may invest as much as $30 billion in its U.S. manufacturing operations.