News, Apple supplier Foxconn says it will build big Wisconsin factory. The project will create 13,000 new jobs (employees, alternative)
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The firm will invest $10 billion in Wisconsin to build a new manufacturing plant that produces LCD panels. The project will create 13,000 new jobs and should be completed by 2020, according to Wisconsin Gov. Scott Walker.
First, Wisconsin doesn't have the necessary skilled workers to support a plant of this size. Second, with a company that relies so heavily on technology and, frankly, Apple, as a source of revenue.......this could (and likely will) go south very quickly if Apple decides to look elsewhere for a cheaper supplier. Apple is a publicly traded company beholden to their shareholders and if buying cheaper LCD panels from a firm in China/Mexico/etc. increases their bottom line you can be assured that will happen. I don't know the specifics of the tax subsidies so that might be a huge boon to the company, but with any technology company something bigger/better/cheaper could come along and essentially spell doom for a supplier like this.
If it comes to fruition it will be big. Perhaps 10,000 working on construction, followed by thousands during operation. It will be a big boon to Wisconsin. Or maybe not: the State will be required to contribute $3 billion. That's a 30% subsidy. To the south, in IL, that State did not bid on it. Of course it's hard to offer a multibillion dollar incentive when you're billions behind on your bills. The IL governor hasn't had many accomplishments during his term, but he can boast he saved taxpayers billions by not pursuing Foxconn.
Last edited by pvande55; 07-27-2017 at 07:19 PM..
Reason: Add qualifier
If it comes to fruition it will be big. Perhaps 10,000 working on construction, followed by thousands during operation. It will be a big boon to Wisconsin. Or maybe not: the State will be required to contribute $3 billion. That's a 30% subsidy. To the south, in IL, that State did not bid on it. Of course it's hard to offer a multibillion dollar incentive when you're billions behind on your bills. The IL governor hasn't had many accomplishments during his term, but he can boast he saved taxpayers billions by not pursuing Foxconn.
Trust me. It would have been a lost cause anyways. No one wants to open business in Illinois if there is an alternative.
Actually a lot of manufacturing is coming back to the US. Except that the work is done by robots/machines in a building where the lights are off. The days of the ole' drunk turn-a-bolt Bob making a middle class wage pulling a lever are never coming back.
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