About four years ago, Wisconsin announced an agreement with Foxconn and one of the largest subsidies for a foreign corporation in American history. In many ways, that deal has fallen short of the promises that were made. And I've been as critical of this agreement as anyone else.
Well, when I ran for governor, I promised I'd work with Foxconn to cut a better deal.
Wisconsin taxpayers have spent hundreds of millions on infrastructure investments, people were forced to leave their homes, and assurances were made to communities across our state.
Wisconsin taxpayers have spent hundreds of millions on infrastructure investments, people were forced to leave their homes, and assurances were made to communities across our state.
Yesterday, we delivered on that promise—we fixed that agreement and found a better deal with Foxconn that will save Wisconsin taxpayers $2.77 billion while still bringing good, family-supporting jobs to Wisconsin.
Our new agreement treats Foxconn like any other business looking to come to Wisconsin. And that starts with accountability. Our deal protects the investments we've already made and ensures not a single taxpayer dollar goes to Foxconn until they create the jobs they’ve promised.
Now I want to be clear: this new deal with Foxconn isn’t a silver bullet to economic development in this state. It wasn't then, and it isn't now.
Economic development can't and shouldn't rest solely on this or any single deal—it must be a 72-county strategy.
Economic development can't and shouldn't rest solely on this or any single deal—it must be a 72-county strategy.
At the end of the day, companies will invest in and come to Wisconsin if we have a world-class education system, a skilled workforce, affordable housing, access to high-speed internet—all things that ensure employers want to build here and their workers want to live here.
We’re working hard to make sure we can bounce back from COVID-19 and better off than we were before the pandemic hit. This deal is not the end of our work. I'm proud of the work that’s been done to get here and know we'll keep working to build an economy that works for everyone.
Thank you to Foxconn for their willingness to come to the table and find an agreement that works for everyone, and thank you to @WEDCNews Secretary and CEO Hughes and the entire WEDC, as well as @WisconsinDOA Secretary Brennan, for your leadership in this critical effort.
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