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.
Assembly Democratic leader @GordonHintz addressing memo from Leg. Fiscal Bureau showing Foxconn contract is a $4.5 billion investment from the state, not $3 billion as @GovWalker stated last year pic.twitter.com/jCGhiWJhzM— Hannah (@Hannah_nbc15) January 16, 2018
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 TrumpYoungkin ad features mother who pushed to have 'Beloved' banned from son's curriculum White House rejects latest Trump claim of executive privilege Democrats say GOP lawmakers implicated in Jan. 6 should be expelled 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.