After passing the Wisconsin State Assembly in a 64-31 vote Thursday, Gov. Scott Walker signed into law a $3 billion incentive package for Taiwanese technology company Foxconn.
The bill allows for $2.85 billion in cash payments to the company, which would make Foxconn the biggest foreign recipient of state subsidies, according to the Washington Post.
The bill also exempts Foxconn from environmental regulations and provides discounted electricity rates and a special court process in exchange for a large flat-screen television factory in southeast Wisconsin.
The factory is expected to bring at least 3,000 jobs to the state and could grow into over 13,000 jobs.
Democrats opposed the signing of the bill. Sen. Jennifer Shilling, D-LaCrosse, said it puts “home-grown businesses at a competitive disadvantage” in a statement.
“With a budget that fails to restore school funding and improve local roads, now’s not the time to hand over $3 billion in cash payments to a foreign corporation,” Shilling said.
Republicans in the Assembly, however, widely supported the signing of the bill.
In a statement, Walker called the Foxconn deal “transformational” for the state and its economy.
Echoing a similar sentiment, Speaker Robin Vos, R-Rochester, believes the deal to be an investment in the state’s future.
“Today Wisconsin is officially saying yes to a $10 billion development project, 13,000 careers and new opportunities throughout Wisconsin,” Vos said.
