Wisconsin Gov. Scott Walker today signed a $3 billion incentive package for electronics giant Foxconn Technology Group.
Walker signed the bill on Monday, Sept. 18, 2017, at Gateway Technical College near Racine. That southeast part of Wisconsin is where the Taiwan-based company plans to build a massive display-screen manufacturing plant that could thousands of people.
The incentive package is the largest in U.S. history offered by a state to a foreign corporation. It's 10 times larger than any previous state incentive in Wisconsin.
Foxconn could only get the full $3 billion if it invests $10 billion on the project and employs 13,000 workers.
The package won bipartisan legislative approval, but critics say Wisconsin is offering too much without enough guarantees if Foxconn doesn't follow through.
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STURTEVANT, Wis. (AP) _ Gov. Scott Walker is about to sign the $3 billion Foxconn Technology Group bill into law, just days after it passed the state Legislature.
Walker planned to sign the measure Monday afternoon at Gateway Technical College near Racine.
The bill provides nearly $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. Opponents say there are not enough guarantees in the deal to protect taxpayers in case workers are laid off or Foxconn leaves the state.
Walker and supporters are heralding it as a once-in-a-lifetime opportunity to make the state a hub for the high-tech electronics industry. Foxconn is the world's largest contract contract manufacturer of electronics, best known for making iPhones.