Wisconsin governor to sign $3 billion Foxconn bill into law

Ingram Publishing  Thinkstock — Wisconsin lawmakers have approved a $3 billion incentive package for Foxconn

Ingram Publishing Thinkstock — Wisconsin lawmakers have approved a $3 billion incentive package for Foxconn

Scott Walker announced Sunday that he would sign a $3 billion incentive package for electronics parts supplier Foxconn Technology Group to build a manufacturing facility in the state.

Foxconn could only get the full $3 billion if it invests $10 billion on the project and employs 13,000. An analysis by the nonpartisan Legislative Fiscal Bureau found it will take at least 25 years for Wisconsin taxpayers to break even on the incentives.

The incentive package is the largest in US history offered by a state to a foreign corporation.

The legislation called the Wisconn Valley Special Session Bill is meant to lure Foxconn into building a $10 billion plant in the state.

Walker told WTMJ-AM that he's confident the incentives package is constitutional.

Walker planned to sign the measure Monday afternoon at Gateway Technical College near Racine.

The bill provides almost $3 billion in cash to Taiwan-based Foxconn if it invests $10 billion in a new flat-screen factory in southeast Wisconsin and employs 13,000 people.

Walker and supporters are heralding the deal as a once-in-a-lifetime opportunity to make the state a hub for the high-tech electronics industry.

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