Wisconsin’s vote US$3B Foxconn deal on hold
Wisconsin Economic Development Corporation CEO Mark Hogan has declined to explain why the scheduled vote was delayed. Democrats are pressuring him to release the contract details before any vote
MADISON, Wis.—A state senator negotiating with Foxconn to establish a massive electronics plant in Wisconsin says a key vote on a contract was delayed because taxpayer funds could be exposed if the Taiwanese company doesn’t fulfill its end of the deal.
Gov. Scott Walker has signed a $3 billion incentives package for Foxconn to build a flat screen manufacturing complex in Mount Pleasant. The Wisconsin Economic Development Corporation is working on a contract to execute the incentives.
The State Journal reports that state Sen. Tim Carpenter said the agency can’t guarantee taxpayer funds will be recouped if Foxconn violates the agreement, due to the deal’s structure.
The agency’s CEO, Mark Hogan, has declined to explain why the scheduled vote was delayed. Democrats are pressuring Hogan to release the contract details before any vote.