MADISON – Rep. James Edming (R-Glen Flora) backed legislation, Special Session Assembly Bill (SS AB) 1, which paves the ways for a historic $10 billion investment by electronics manufacturer, Foxconn in Wisconsin. Foxconn has announced its intentions to build North America’s first liquid crystal display (LCD) manufacturing facility in Wisconsin. The project is estimated to have an economic impact of $11.1 billion and to provide numerous business opportunities around the state.
“This historic investment by Foxconn is a huge economic boost for the entire state of Wisconsin,” said Rep. Edming. “I am excited about the economic opportunities that this project will create around the state including in northern Wisconsin.”
Under SS AB 1, the state provides incentives to Foxconn when it builds its facilities and hires new employees. Tax credits can only be provided if Foxconn builds the promised facilities and creates the promised jobs, protecting Wisconsin taxpayers.
“While this project is a big economic opportunity it is also important to make sure that in any deal taxpayers are protected,” said Rep. Edming. “I am pleased that this legislation does precisely that.”
In addition to the incentives, SS AB 1 also provides new funding for worker training and creates a new position within the Wisconsin Economic Development Corporation that will work with Wisconsin businesses to develop business relationships with Foxconn.
“The state of the art technology that Foxconn will manufacture is going to require a highly skilled workforce,” said Rep. Edming. “I am pleased that one of the amendments made during the committee process increases funding for worker training. I am also glad that the bill was amended to create a new position focused on helping Wisconsin companies develop business relationships with Foxconn.”
SS AB 1 also protects the environment by strengthening wetland mitigation. For every wetland that is disturbed, two more have to be created as close as possible. In addition, air and water standards must be followed and the Department of Natural Resources is instructed to oversee the development.
SS AB 1 was approved by the Assembly with bipartisan support and awaits further legislative action by the State Senate.