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WEDC Board Meets Thursday To Discuss Foxconn Deal

Contract Approval Between Wisconsin And Foxconn Expected Soon

By
Foxconn podium
David Cole/WPR

Wisconsin’s state economic development agency will get a report Thursday afternoon on the potential contract with Foxconn Technology Group to build a large factory in southeastern Wisconsin.

Wisconsin Economic Development Corp. Secretary Mark Hogan will update board members on the Foxconn talks during a closed session meeting in Wauwatosa, says a WEDC spokesperson.

Board member and state Sen. Tim Carpenter, D-Milwaukee, says he understands some business negotiations need to be kept private. “But we’re talking public tax dollars here. If it was private money, they could do whatever they want,” Carpenter said.

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In the state Legislature, Carpenter voted against the $3 billion Foxconn incentives package. He said he wants to also protect taxpayers as a WEDC board member.

In a written statement, WEDC spokesman Mark Maley said taxpayer interests were being represented in negotiations.

“As Secretary Hogan has stated, WEDC will take whatever time is necessary to get this done right. This is a major investment for the state of Wisconsin and we will take whatever time is needed to ensure the taxpayers of Wisconsin are protected. It’s also a major investment for Foxconn and the company will take the time it needs to protect the interests of its shareholders. If the project is not ready for approval by Thursday, a vote would take place at a later date. Once the project is approved and the contract executed, the contract will be released to the public.”

Gov. Scott Walker told reporters this week that he thinks the Foxconn contract will be approved by next week.

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