Foxconn good deal for Wisconsin
According to Bloomberg News, seven states were in the final bidding for the Foxconn plant, which has ultimately been awarded to Wisconsin due to the effort of Gov. Scott Walker, given credit for "quarterbacking" the deal. Early talks involved President Trump, his chief-of-staff, Reince Priebus, as well as the Congressman of the 1st District, Republican Paul Ryan.
Michigan pledged $800 million more than Wisconsin but this state was rewarded because of all of the amenities needed.
While it's true Foxconn was offered a large tax incentive of $3 billion, the state of Washington offered Boeing Corp. $8.7 billion to remain there. What do the liberal Democrats there know about needing jobs that the Democrats here haven't figured out? Oh, except those Democrats who represent Kenosha and Racine counties who all voted for the plant along with one Democrat from Milwaukee's inner city, where unemployment is extraordinarily high.
Now Gov. Walker is asking for money to advertise around the country that "Wisconsin is open for business" and we need workers. How will this help upstate? When another industry was booming in North Dakota, people from around the country flocked there for well-paying jobs.
Foxconn's average production pay here will be $23.02 an hour. When they build it, many will come, from all around Wisconsin and the entire country. This in turn will spur the building of thousands of new homes, hotels, restaurants and many ancillary jobs. Colleges in the lower part of the state are gearing up with training that focuses on what Foxconn will need. The overall opportunity "Wisconn Valley" will bring will help to keep our millennials right here in state.
Now some argue the future leads to more automation. Keep in mind Foxconn is a leader in automation yet their current workforce numbers 1.3 million workers. Is there some risk involved in all of this? Of course — even current workers have risk in their 401(k) for it's not guaranteed to make money all the time.
Where there is risk there is also reward. To help offset this risk, the Foxconn chairman is willing to put up $500 million in escrow money. That's not chump change.
General Motors plants have closed in Wisconsin yet many companies here still supply GM. Wisconsin will have many companies that want to supply Foxconn.
Congressman Ryan has a challenger who supposedly works in the construction industry as an ironworker. With all the building soon to happen, I suggest he keep his day job. The future looks great thanks to Gov. Walker and the Republican legislature.