A new analysis from a Wisconsin business group says Foxconn Technology Group’s manufacturing plant would add about $51 billion to the state’s gross domestic product over the 15 years the state pays the company incentives.
The Milwaukee Journal Sentinel reports that the Metropolitan Milwaukee Association of Commerce’s estimates average out to an additional $3.4 billion in state gross domestic product annually. That would add 1 percent to the state’s current GDP of approximately $313 billion.
The state’s GDP has grown about 3.6 percent a year since the recession.
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Association President Tim Sheehy says GDP illustrates “the economic health or wealth” of an area.
The $10 billion manufacturing center in Racine County could employ up to 13,000 workers. The company could receive as much as $3.8 billion in state and local incentives.
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