MADISON – Representative Warren Petryk (R-Eleva) released the following statement after the Wisconsin State Assembly passed the Wisconn Valley Special Session legislation on a bipartisan vote of 59-30.
“As Chairman of the Wisconsin Assembly Committee on Workforce Development, I view last night’s vote as an historic first step to putting tens of thousands of people to work here in Wisconsin. We can look forward over the upcoming years to witnessing the ripple effect from Foxconn’s forecasted $7 billion annual economic impact which will create over 22,000 family-sustaining jobs throughout the state.”
The Foxconn project is considered the largest economic development in state history and it will be the largest new greenfield investment made by a foreign-based company in U.S. history. The legislation provides incentives to the company when it builds its facilities and creates new positions. The performance-based incentive package protects taxpayers as it only provides tax credits when Foxconn delivers on its agreement to the state of Wisconsin.
The legislation also promotes statewide economic development and invests in worker training throughout the state. The bill requires the Department of Workforce Development to work closely with local universities, colleges, technical schools, and non-profits on a plan to facilitate employment and training to suppliers and vendors as well as businesses impacted by the employment at Foxconn.
“Wisconn Valley will support our commitment to help the state attract, retain, and train highly-skilled talent in our workforce which will continue energizing Wisconsin’s growing economy. A project of this magnitude will demand positive and creative collaboration between our education, economic development, industry, and government sectors. What a great win for the people of Wisconsin!”
To learn more about the details, please read: Foxconn Economic Impact & Incentive Package