Wisconsin Assembly passes 3 bln USD incentive package for Foxconn plant

Source: Xinhua| 2017-09-15 12:56:04|Editor: An
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CHICAGO, Sept. 14 (Xinhua) -- The legislature of the U.S. state of Wisconsin approved an incentive package of 3 billion U.S. dollars for manufacturing giant Foxconn on Thursday.

The bill was passed on a bipartisan 64-31 vote to attract Foxconn to build a massive flat-screen display factory in southeast Wisconsin. It would make 2.85 billion dollars available to Foxconn in cash payments if it invests 10 billion dollars and hires 13,000 local workers.

If Wisconsin Governor Scott Walker signs the bill, it would clear the way for him to ink a final contract with Foxconn.

U.S. President Donald Trump announced Foxconn's plan to build a factory in Wisconsin at a White House event in July, accompanied by Foxconn Chairman Terry Gou.

The investment plan, labeled by Walker as "the largest economic development project in the history of Wisconsin," involves a virtual village, with housing, stores and service businesses spreading over at least 4 square km, according to media reports.

Multiple U.S. states competed over the Foxconn investment, but Wisconsin secured Gou's favor after agreeing to subsidize the enterprise with 3 billion dollars for the next 15 years if Foxconn fulfills its promise to pay an average annual salary of 54,000 dollars to its local employees.

Foxconn is the world's largest contract electronics manufacturer, most notable for making iPhones in China. The Wisconsin plant would construct liquid crystal display panels for televisions, computers and other uses.