MADISON — Gov. Tony Evers today delivered the Democratic Radio Address on the renegotiated Foxconn contract that the governor announced last week. The deal negotiated under Gov. Evers helps ensure the state will save taxpayers a total of $2.77 billion compared to the previous contract, maintain accountability measures, require job creation to receive incentives, and protect hundreds of millions of dollars in local and state infrastructure investments already made in support of the project.
Hi Wisconsin, Governor Tony Evers here.
Four years ago, Wisconsin announced an agreement with Foxconn, which was one of the largest subsidies for a foreign corporation in American history.
But in many ways, that deal has fallen short. That deal didn’t work for Wisconsin, and that doesn’t work for me. I’ve said all along that my goal was to negotiate a better deal that works for taxpayers across our state.
And, last week, I was proud to be able to deliver on that promise and announce we negotiated a better deal that treats Foxconn like any other Wisconsin business.
Our new agreement will save Wisconsin taxpayers $2.77 billion compared to the previous contract.
We’re also bolstering accountability measures, requiring job creation to receive incentives, and protecting hundreds of millions of dollars in local and state infrastructure investments that have already been made in support of this project.
And we’re going to do all of this while still bringing good, family-supporting jobs to our state.
So while we work to make sure Wisconsin bounces back from COVID-19, our new agreement and these new jobs will help boost our economy and ensure that we are able to bounce back and better than we were before this pandemic hit.
Now I want to be clear, this new deal with Foxconn isn’t a silver bullet to economic development in this state. It wasn’t then, and it isn’t now.
Economic development can’t and shouldn’t rest solely on any one single deal, it must be a 72-county strategy. So, this is not the end of our work, but it’s a strong step forward for our state and our economy.