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.
CLICK HERE to view the Foxconn bill
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: