Dear Friends,

Welcome to Wisconn Valley!  

This week, Wisconsin beat out seven states and landed the single largest economic development project in our history.   Technology giant Foxconn announced it will make a $10 billion investment and create as many as 13,000 jobs right here in our state!  Foxconn plans to build a massive LCD factory in Southeast Wisconsin.

This is fantastic news for Wisconsin.  We have worked very hard to make Wisconsin open for business.  Thanks to those efforts major employers like Foxconn are looking to Wisconsin for expansion and relocation.  

I want to thank the efforts of President Trump, Speaker Ryan, Senator Johnson, Governor Walker and his administration, and Reince Priebus in making this opportunity a reality.

Foxconn is the latest company to pick Wisconsin.  We've already landed German candy maker Haribo and Illinois manufacturer Prestige Metals to our state.  And now , there are reports that Foxconn is looking to build a corporate headquarters in Milwaukee!

As always, if you have any ideas on how to improve our great state, including how to improve the budget, please do not hesitate to contact me at  Sen.Darling@legis.wi.gov  or 608-266-5830.   

On Wisconsin!

Foxconn Bill Expected to Head to JFC
On Thursday, I attended the official signing of the memorandum of understanding between Foxconn and the State of Wisconsin.  The ceremony was at the Milwaukee Art Museum, where I used to work!

I'm excited to get to work on the legislation to finalize the Foxconn deal.  I hope any deal will be handled outside of the budget as separate legislation. The bill is expected to go through the Joint Committee on Finance, where I serve as co-chair.  

I will make sure this is a good deal for Wisconsin and make sure taxpayers are protected.  One thing to keep in mind, we won't pay unless they spend.  If Foxconn doesn't follow through with their promises, they won't get anything from Wisconsin taxpayers.  

Here is an outline of what the Foxconn deal will say:
  • The maximum amount of credits Foxconn will be eligible to earn is $3 billion over 15 years:
    • Up to $1.5 billion in state income tax credits for job creation
    • Up to $1.35 billion in state income tax credits for capital investment
    • Up to $150 million for the sales and use tax exemption (sales tax holiday)
  • Tax credit incentives are tied to performance. If Foxconn fails to invest capital or create jobs, they won't receive any credits.
More Details on Foxconn Deal
You can find out more from the Wisconsin Economic Development Corporation about Foxconn's impact on our state here.
Around the 8th...
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Senator Alberta Darling | Sen.Darling@legis.wi.gov | 1-800-863-1113| http://darling.senate.wisconsin.gov
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