Business experts in the state say the Foxconn deal looks promising for Wisconsin, though some details have yet to be nailed down.
Tom Still, president of the Wisconsin Technology Council, says there’s “lots of reasons” that the $3 billion incentive package being offered to Foxconn will be worth it in the long run.
He points to the large number of expected jobs, which will not only boost income taxes but will also generate related economic activity.
According to the fact sheet from the Walker administration, 13,000 workers will eventually be employed at the Foxconn facility, while 22,000 additional indirect and induced jobs are expected as well. Still says the additional jobs figure could be an underestimate.
Doug Fisher, director of the Center for Supply Chain Management at Marquette University, says the news is “incredibly impressive.”
With many American companies chasing low-cost sourcing elsewhere in the world, he says this big project being located here in Wisconsin is unique, but makes sense given the state’s rich manufacturing history.
“You don’t hear too many stories like this,” he said.
See more at WisBusiness.com