I thought the GOP was the illest at business? Wisconsin Foxconn disaster

T

TLR Is Mental Poison

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Wisconsin’s $4.1 billion Foxconn factory boondoggle

KEY POINTS
  • Wisconsin Gov. Scott Walker wooed Foxconn with a huge subsidy plan, which was first drawn up on the back of a napkin
  • It now totals $4.1 billion, much of it in cash, and many doubt taxpayers will ever be repaid
  • Now, Foxconn no longer plans to build a Generation 10.5 factory manufacturing panels for 75-inch TVs
  • Instead, it plans to build a smaller factory manufacturing smaller panels and requiring far less investment
  • Foxconn maintains it will still create 13,000 jobs, but they will mostly be for knowledge workers developing an ecosystem it calls “AI 8K+5G”
  • Foxconn was given large exemptions from environmental regulations, raising concerns about pollution
  • The Walker administration refused to talk to The Verge for this story
Bonus bullet- the bulk of the jobs this factory will generate will come from out of state, from Chicago :idiot:

Somebody got paid to make this shytshow happen
 
jj23

jj23

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Wow. :picard:

Can't blame Foxconn, they played that deal like a fiddle. :wow:

I am sure if the Feds dig deep enough someone will be getting some massive kickbacks. :scust:

LMAO at 'knowledge workers'. No assembly plant work for the working class, but best believe they will continue to support the GOP.... Pathetic :hhh:
 
Dr. Acula

Dr. Acula

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Well that is still a business friendly move. Its friendly for the business, not for workers.

Republicans are very pro-business. They are pro putting the rights of corporations above the rights of everyone else. Doesn't make them more economically literate. Just more open to being bought. Putting constant pressure on the vast amount of consumers which are usually the working class (I'm using this term in reference to everyone who just works for a living, not the class it usually is used towards in political campaigns) and they have less money and resources to funnel into the economy which in the LONG TERM hurts businesses. But in the short term, if a CEO can make another bill this year compared to the previous year, despite the future of his business in 10 years due to republican policies, he'll probably take it.
 
Kyle C. Barker

Kyle C. Barker

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The size of Wisconsin’s subsidy quickly began to grow, as spelled out in state legislation passed about six weeks later and implemented by the Walker administration. By December 2017, the public cost had grown to include $764 million in new tax incentives from local governments in Racine County, which is just 40 minutes south of Milwaukee where the plant was to be located. Other additions included $164 million for road and highway connections built to service the plant, plus $140 million for a new electric transmission line to Foxconn that would be paid for by all 5 million ratepayers of the public utility We Energies. With other small costs added, the total Foxconn subsidy hit $4.1 billion — a stunning $1,774 per household in Wisconsin.




:huhldup:








Scott Walker's Foxconn Project in Wisconsin Looks Like a Multi-Generational Boondoggle
 
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