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Foxconn Presents a Great Opportunity for Region

 
This week, I was honored to open the Special Session which will consider the legislation bringing Foxconn’s $10 BILLION investment to Wisconsin.
 
This historic opportunity will be a catalyst for the entire region and help transform our economy. In addition to thousands of jobs created directly by Foxconn, there will be a domino effect throughout our area. Other companies are already looking to relocate to Racine and Kenosha counties, bringing potentially thousands of additional new jobs.

The Truth About the Foxconn Incentive Bill


 
As with any major legislative initiative, there are a lot of differing opinions and interpretations about the Foxconn incentive bill. I am thoroughly reviewing the bill with my staff, the Legislative Fiscal Bureau and others. Here's what I have learned about the the bill:

Economic Incentives
The economic incentives to Foxconn are entirely dependent on Foxconn action. This isn’t a cash handout, this is more like a partial reimbursement for their investment.  Foxconn will not receive any benefits from Wisconsin unless and until they actually spend money and/or hire people in Wisconsin.
 
Under the proposal, Foxconn will receive a 17% refundable tax credit on all full-time employees paid between $30,000 and $100,000 a year. In addition, Foxconn will be eligible for up to a 15% tax credit on “significant capital expenditures.” Like with several other large construction projects, construction materials will be tax-exempt.

Environmental Standards
There is a lot of misinformation about the environmental changes in the bill. Let me be clear – no environmental and pollution standards are changed in the Foxconn legislation. While Foxconn will be exempt from needing duplicative permits for certain activities, they will still have to comply with all other current environmental laws and regulations regarding those activities. Exemptions already granted to other businesses will be extended.  Rather than gutting wetland protections, as some have said, the bill requires 2-to-1 wetland mitigation by Foxconn, 166% of the current standard.  Although the state environmental impact statement is waived, the federal environmental impact statement is still required.

You and I both know Wisconsin isn’t China, and Foxconn knows it too. They want to be a good corporate partner in Wisconsin, and know that poor management of environmental resources will be bad public relations, and bad for their bottom line.  
 

Finishing the Job on I-94


 
I was very happy to see that the Governor included funding for completion of the I-94 North-South project in the special session bill. As you know, I’ve been fighting to finish the job on I-94 throughout Racine and Kenosha counties, and it was my top priority for this legislative session. With the increased traffic that will be flowing due to construction and eventually production, the freeway needs to be rebuilt and replaced promptly.  The Foxconn bill includes $250 million in funding in this biennium to start finishing the job.

In the District - Fun at the Fair!

 









Loved judging the pie contest!
 

 

In the Capitol


 
August Schutz from Raymond stopped by the office on Wednesday.



I picked up some new two-sided business cards in the office - this side is in Mandarin, the other English.



I made some new friends from Adelaide, Australia who were in Madison for the 2017 Crossfit games!
With The Fairest of the Fair, the Little Queen, and Rep. Thomas Weatherston
www.SenatorWanggaard.com

608.266.1832

State Senator Van
Wanggaard
21st Senate District 

Wisconsin State Capitol 
P.O. Box 7882
Madison, Wisconsin 53707
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