This story is a little complex so I'm going to do a synopsis. It was heralded a year and a half ago as the start of a 'Midwestern manufacturing renaissance'. Foxconn, the Taiwanese electronics behemoth, would build a $10 billion Wisconsin plant to make flat-screen televisions, creating 13,000 jobs. President Trump later touted the project as “the eighth wonder of the world" and it would be right there in Wisconsin. Former Wisconsin Governor Scott Walker and state lawmakers had agreed to more than $4 billion in tax credits and other inducements over a 15-year period, an unusually high figure, for a plant in Mount Pleasant, near Racine.
Basically Foxconn told Republican governors and Trump, "If you cut me 5 billion in taxes, I will invest 10 billion here in plants and bring 13,000 plant jobs for your voters. So they did, they gave Foxconn those billions in tax breaks. But now, Foxconn is saying we will build a research facility, a 'technology hub' instead. No jobs for those republican voters but jobs for highly skilled computer software engineers -probably foreign ones. Oh, and it will be an 'advanced manufacturing plant' meaning 'robots'.
The little towns, in which the plant would be located are at least half a billion out. It cost them that much to seize land and give it to the Foxconn company. So, the plant got free lands, etc. It's calculated that it would take the state until 2043 to recoup the $3 billion handout, which was the largest such subsidy in the state's history. Even if all 13,000 promised jobs went to Wisconsinites, the tab would be more than $230,000 per job created. This company has a history of doing this, all over the world they promise big plans and get great deals but they do not deliver and they always say the same" market changed, we changed the plan " Yesterday, Foxconn spokesperson announced that they have had a change of plan and the great factory in Wisconsin is never going to happen. The State of Wisconsin got screwed out of billions of dollars.
Foxconn Reconsidering Plans for a Wisconsin Factory Heralded by Trump
https://www.nytimes.com/2019/01/30/business/foxconn-factory-wisconsin.html
It was heralded a year and a half ago as the start of a Midwestern manufacturing renaissance: Foxconn, the Taiwanese electronics behemoth, would build a $10 billion Wisconsin plant to make flat-screen televisions, creating 13,000 jobs. President Trump later called the project “the eighth wonder of the world.”
Now that prospect looks less certain.
Pointing to “new realities” in the market, the company said Wednesday that it was reassessing the plans, underscoring the difficult economics of manufacturing in the United States. “The global market environment that existed when the project was first announced has changed,” Foxconn said in a statement.
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This was Scott Walker, Trump, Paul Ryan and Foxconn exec. doing the 'gold shovel' groundbreaking in Wisconsin
They promised Wisconsin 13,000 new jobs and billion dollar factory but in the end, absolutely nothing. It worked well to get blue collar votes for the 2016 election. Thanks to Scott Walker, Paul Ryan and Donald Trump, Wisconsinites were royally screwed in one of the biggest scams in recent history.
1. Sounds to me like Wisconsin needs to rethink and renegotiate the terms of their agreement with Foxconn.
2. Since Foxconn isn't following through on their initial agreement, perhaps Wisconsin should seek remedy in court.
3. This turn of events has nothing to do with Trump.
Just enough "interest" to dupe people into thinking Trump was going to bring their jobs back. Wouldn't surprise me if the entire thing wasn't a scam to win voters over
1. Sounds to me like Wisconsin needs to rethink and renegotiate the terms of their agreement with Foxconn.
2. Since Foxconn isn't following through on their initial agreement, perhaps Wisconsin should seek remedy in court.
3. This turn of events has nothing to do with Trump.
1. Sounds to me like Wisconsin needs to rethink and renegotiate the terms of their agreement with Foxconn.
2. Since Foxconn isn't following through on their initial agreement, perhaps Wisconsin should seek remedy in court.
3. This turn of events has nothing to do with Trump.
Actually, yes they are. This is ultimately a private company, and they are allowed to decide what they want to do at their own facility based on market factors. They lied to Scott Walker, Paul Ryan, and Donald Trump, and the morons bought it because they were so eager to look like economic champions they didn't do the diligence.1. Sounds to me like Wisconsin needs to rethink and renegotiate the terms of their agreement with Foxconn.
2. Since Foxconn isn't following through on their initial agreement, perhaps Wisconsin should seek remedy in court.
3. This turn of events has nothing to do with Trump.
Actually, yes they are. This is ultimately a private company, and they are allowed to decide what they want to do at their own facility based on market factors. They lied to Scott Walker, Paul Ryan, and Donald Trump, and the morons bought it because they were so eager to look like economic champions they didn't do the diligence.
Furthermore, another one of the giveaways that Republicans gave Foxconn was a special rule allowing them to quickly and easily appeal almost any court ruling against them to the state supreme court.
Yes, it does. It has everything to do with Trump and Republicans in general. This is why tax cuts for Millionaires and Billionaires are such a colossally stupid idea. You're giving them boatloads of money on the hopes that they will create jobs with it, but you have no guarantees at all. Billion Dollar companies have all kinds of options. They can invest when, where, and on whatever they feel like investing. If the market doesn't look good they can choose not to invest at all. If the market does look good they will invest whether you give them tax cuts or not.
Instead of giving a foreign company billions of dollars to hire uneducated workers they could have and should have spent those billions on reducing the cost of education for the citizens of Wisconsin. A highly educated workforce will attract all kinds of good companies just like what happened when Amazon went to DC and NY. Better still those well-educated youngsters are more likely to start their own local business with ties to the state that is far more likely to stick around than a Taiwanese company that's only there for the tax cuts.
At some point though I do have to wonder if that's what the voters really want? Look at the coal workers for example. Trump promised them the moon while Hillary basically said its a dead industry and proposed training and education so their kids wouldnt have to be coal workers or have no skills. They overwhelmingly chose Trump. I think a lot of my experience at least, has shown me that people bristle when you try to offer help or further education. They take it as an insult quite often. Its odd but it seems true quite often.
I don’t see how this is “trumps fault” in anyway.
The Wisconsin governor, Scott Walker, is the one who gave away all those billions. It was the Wisconsin governor who authorized all the seizure of land. It was the Wisconsin legislature that didn’t ask questions.
Wisconsin GOP has done this multiple times; most notably with the Milwaukee Bucks and the billion dollar giveaway handed to the millionaire owners.
When the people of Wisconsin get tired of being taken for a ride then Scott Walker will be removed from office. In the meantime it appears that the people of Wisconsin enjoy being fleeced.
I think the point, however, is that those voters are idiots who were fooled as well.
1. Sounds to me like Wisconsin needs to rethink and renegotiate the terms of their agreement with Foxconn.
2. Since Foxconn isn't following through on their initial agreement, perhaps Wisconsin should seek remedy in court.
3. This turn of events has nothing to do with Trump.
This story is a little complex so I'm going to do a synopsis. It was heralded a year and a half ago as the start of a 'Midwestern manufacturing renaissance'. Foxconn, the Taiwanese electronics behemoth, would build a $10 billion Wisconsin plant to make flat-screen televisions, creating 13,000 jobs. President Trump later touted the project as “the eighth wonder of the world" and it would be right there in Wisconsin. Former Wisconsin Governor Scott Walker and state lawmakers had agreed to more than $4 billion in tax credits and other inducements over a 15-year period, an unusually high figure, for a plant in Mount Pleasant, near Racine.
Basically Foxconn told Republican governors and Trump, "If you cut me 5 billion in taxes, I will invest 10 billion here in plants and bring 13,000 plant jobs for your voters. So they did, they gave Foxconn those billions in tax breaks. But now, Foxconn is saying we will build a research facility, a 'technology hub' instead. No jobs for those republican voters but jobs for highly skilled computer software engineers -probably foreign ones. Oh, and it will be an 'advanced manufacturing plant' meaning 'robots'.
The little towns, in which the plant would be located are at least half a billion out. It cost them that much to seize land and give it to the Foxconn company. So, the plant got free lands, etc. It's calculated that it would take the state until 2043 to recoup the $3 billion handout, which was the largest such subsidy in the state's history. Even if all 13,000 promised jobs went to Wisconsinites, the tab would be more than $230,000 per job created. This company has a history of doing this, all over the world they promise big plans and get great deals but they do not deliver and they always say the same" market changed, we changed the plan " Yesterday, Foxconn spokesperson announced that they have had a change of plan and the great factory in Wisconsin is never going to happen. The State of Wisconsin got screwed out of billions of dollars.
Foxconn Reconsidering Plans for a Wisconsin Factory Heralded by Trump
https://www.nytimes.com/2019/01/30/business/foxconn-factory-wisconsin.html
It was heralded a year and a half ago as the start of a Midwestern manufacturing renaissance: Foxconn, the Taiwanese electronics behemoth, would build a $10 billion Wisconsin plant to make flat-screen televisions, creating 13,000 jobs. President Trump later called the project “the eighth wonder of the world.”
Now that prospect looks less certain.
Pointing to “new realities” in the market, the company said Wednesday that it was reassessing the plans, underscoring the difficult economics of manufacturing in the United States. “The global market environment that existed when the project was first announced has changed,” Foxconn said in a statement.
=============================================================
This was Scott Walker, Trump, Paul Ryan and Foxconn exec. doing the 'gold shovel' groundbreaking in Wisconsin
They promised Wisconsin 13,000 new jobs and billion dollar factory but in the end, absolutely nothing. It worked well to get blue collar votes for the 2016 election. Thanks to Scott Walker, Paul Ryan and Donald Trump, Wisconsinites were royally screwed in one of the biggest scams in recent history.
Sure it does. Trump has “spiked the ball” before crossing the “goal line” many, many, many times
"Automagically? Hah! I've got to remember that one! :thumbs:Yep, crony capitalism works in (not so?) mysterious ways. Of course, if you call creating such 'deals' "enterprise zones" or "opportunity zones" (or if they involve a professional sports team?) then that (automagically?) makes it an entirely different situation.
Perhaps that's why they are out-of-work coal-miners in WVA, (errantly) waiting for government to bail them out. In life you tend to get what you put into it, including using your brain and being honest with yourself. This last (self-honesty) is the most important. Without that, you're going nowhere.At some point though I do have to wonder if thats what the voters really want? Look at the coal workers for example. Trump promised them the moon while Hillary basically said its a dead industry and proposed training and education so their kids wouldnt have to be coal workers or have no skills. They overwhelmingly chose Trump. I think a lot of my experience at least, has shown me that people bristle when you try to offer help or further education. They take it as an insult quite often. Its odd but it seems true quite often.
The more desperate or desirous a person is, the easier it is to hoodwink them. I'd go as far as calling that a corollary.I think the point, however, is that those voters are idiots who were fooled as well.
1. Sounds to me like Wisconsin needs to rethink and renegotiate the terms of their agreement with Foxconn.
2. Since Foxconn isn't following through on their initial agreement, perhaps Wisconsin should seek remedy in court.
3. This turn of events has nothing to do with Trump.
The 2018 election pretty much revealed that the Pennsylvania, Wisconsin, Michigan path that Trump barely negotiated to achieve an election win in 2016, is closed to him in 2020.
The Foxconn bait and switch, the second time they have done so (see also Harrisburg PA), is just further evidence that that path is gone.
https://lacrossetribune.com/communi...cle_a3951304-99cd-5021-9759-5b4418cb2266.html
Bait and Switch: Foxconn already scaling back plans for size of Wisconsin factory | The Milwaukee Independent
Foxconn Consistently Lies About Jobs and We?re an Easy Mark
[Subject]
You try to take credit for the upside, you get the blame when it doesn't work out. The fool never should have stood in front of the camera and said this was because of him.
At some point though I do have to wonder if thats what the voters really want? Look at the coal workers for example. Trump promised them the moon while Hillary basically said its a dead industry and proposed training and education so their kids wouldnt have to be coal workers or have no skills. They overwhelmingly chose Trump. I think a lot of my experience at least, has shown me that people bristle when you try to offer help or further education. They take it as an insult quite often. Its odd but it seems true quite often.
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