Madison, WI – Today, State Representative Mike Rohrkaste (R-Neenah), along with a bipartisan group of Assembly colleagues, approved legislation to bring Foxconn, a global computer and high-tech consumer electronics maker, to Wisconsin. The agreement has the potential to bring 13,000 new careers to Wisconsin, and a $10 billion capital investment by Foxconn in manufacturing facilities and equipment. It will be the largest economic development project in state history.
“This is a once in a generation opportunity for Wisconsin and the Fox Cities,” said Rep. Rohrkaste. “It will expand career opportunities for our kids, increase research at our higher education institutions, improve our transportation infrastructure, and provide numerous business opportunities for our fantastic Fox Cities’ manufacturers and contractors.”
This high-tech manufacturing facility will produce Liquid Crystal Displays (LCD), the first facility of its kind in North America. The LCD screens are used in TVs, smart phones, automobiles, aircraft, and health care equipment, among other products. Additionally, it is estimated the project will have an $11.1 billion economic impact, which includes both direct and in-direct jobs. The supply chain needs of the company are estimated to be $1.4 billion here in the state of Wisconsin alone.
It is important to note that the incentives for this agreement are tied to performance. No money will be paid out by the state until a shovel is in the ground or the new careers are created. There are also claw-back provisions in the agreement to protect taxpayers if Foxconn doesn’t meet its promises.
“I’m proud to have voted in favor of this legislation and look forward to Foxconn coming to Wisconsin,” said Rep. Rohrkaste. “From the Fox Valley to the new “Wisconn Valley”, it is a great day for Wisconsin. This will provide opportunities for generations of Wisconsinites.”