this is the whole Legislative and Fiscal Bureau documents on Foxconn (Because the link to the original website didn't work in my previous post “Walker et al.'s Foxconn, Wisconsin.”:
Table 4 below (supporting these graphs):
source: UEFA (2017).
Tables provide the basis for these charts:
figure 1: State payments (blue) and tax increases (red) mandated by Act 1 of the August 2017 special session, in millions of dollars, by fiscal year (2018 represents fiscal year 2018-19). source: Legislative Finance Bureau,Table 4.
figure 2: Net benefit calculated in fiscal year (2018 means fiscal year 2018-19) is incremental tax revenue minus state payments under Act 1 of the August 2017 Special Session of the Assembly (dark blue) and cumulative (purple) in hundreds Ten thousand U.S. dollars. source: Legislative Finance Bureau,Table 4.
The original contract has been significantly modified (!) so here are the obligations under the 2021 contract.
source: Legislative Audit Bureau (2023).
Therefore, Wisconsin taxpayers are responsible for paying Foxconn’s employees. do minimal work.While this has some multiplier effects (in other words, Scott Walker and the Wisconsin Republican Party actually The greatest example of Keynes's dictum “let them dig holes”), but it is questionable whether they have full upstream multiplier effects on suppliers etc, e.g. Williams(2017).
It should be noted that the above data does not include local expenditures.from Mitchell(2019):
In addition to state subsidies, localities also agreed to provide $764 million in site development subsidies through tax increment financing (later expanded to $911 million). The state has agreed to cover 40% of these loans if local governments are unable to repay them (but we do not include this potential cost in the state subsidies listed in Table 1). In addition to these financial incentives, the state exempted the company from certain wetlands regulations, allowing it to circumvent standard environmental impact reports and discharge materials to non-federal wetlands without a permit. It also authorizes more than $332 million for electric and natural gas utility infrastructure improvements to serve the plant, the cost of which will be borne by other utility customers. Finally, the Village of Mount Pleasant declared 2,800 acres “abandoned” despite the area's relatively low crime rate, and spent $160 million to purchase the property through eminent domain so it could transfer it to Foxconn.
Therefore, while Wisconsin has some level of cost protection, local hit by shaft resulting in substantial uncompensated costs.
So, when looking back, it's hard to see how deluded some policymakers (Wisconsin Republicans, Scott Walker, Ron Johnson) were. (I believe by now almost everyone understands how Donald Trump is seriously confused).See more here, here.
