8 years ago I was depressed, alone, on drugs. I started working a retail job in the mall that was a real drag. Life was awful. Typically, the majority of capital expenditures are development, construction and equipment costs. The new legislation would enable Foxconn to earn up to 15 percent of their capital investment costs in potential incentivesSimilar to the proposed modifications of the Enterprise Zone, the Wisconn Valley language creates a new category of TIF with a designation that is solely designed for Foxconn. Rather than capturing 20 years of future property tax revenue, these modifications would enable the municipality through its TIF program to capture over 30 years of future property tax revenue.The new legislative proposal recommends adjusting the statutory language to allow up to 17 percent of employee wages to be eligible for incentives, rather than the 7 percent that is now on the booksIf Foxconn delivers on their commitment to create 13,000 jobs in Wisconsin at an average wage of $53,000 per year, they’ll earn $1.5 billion in refundable performance based tax credits based upon those job creation and wage metricsThe problem with this deal is foxconn used its size, and politics (Trumps hard on for a deal with a major Chinese company), to get a good deal with large cash payouts based on the “potential size of the agreement”, so for them but then canceled the size of the project didnt affect state funding.State and local governments will also spend $400 million on road improvements, including adding two lanes to the nearby Interstate 94.
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