Gov. Walker calls “special session” of State Legislature to consider Foxconn incentive package
MADISON — Gov. Scott Walker called a Special Session of the Wisconsin State Legislature on Friday, July 28th to consider legislation that would bring Foxconn to Wisconsin.
Governor Walker’s executive order requires the Legislature to commence the Wisconn Valley Special Session at 11:00 a.m. on Tuesday, August 1st, solely to consider and act upon the legislation.
Gov. Walker said the following in a news release:
“This is a once-in-a-century opportunity for our state and our country, and Wisconsin is ready. Foxconn plans to bring the future of high-tech manufacturing to America, and Wisconsin is going to lead the way. I am encouraged by the bipartisan support we have seen for Wisconn Valley, and I call on the Legislature to support this measure and open the door for 13,000 direct Foxconn jobs, 10,000 direct construction jobs, and 22,000 more indirect or induced jobs related to this project. This is good for our entire state.”
Under a Memorandum of Understanding signed Thursday by Gov. Walker and Foxconn Founder and CEO Terry Gou, Foxconn plans to invest $10 billion by 2020 to build a manufacturing campus in southeast Wisconsin. The campus could create 13,000 new jobs in the state.
The governor’s office says the legislation proposes a $3 billion incentive package that is performance-based and includes state income tax credits as well as $150 million sales tax “holiday.”
Foxconn will be eligible to earn tax credits equal to 17 percent of wages paid or 15 percent of capital invested spread out over a 15-year period.
State Sen. Van Wanggaard issued the following statement on the special session:
“I want to thank Governor Walker and Foxconn for funding the rebuilding and expansion of I-94 North-South in the Foxconn special session bill.
“Even more than before, it is absolutely critical to restart this road project to ensure the success of not just Foxconn, but the many other economic development opportunities that are planning to come our area.
“This is a once in a lifetime opportunity, and I will do everything I can to ensure the Foxconn development comes to fruition.”