A member of the board negotiating with Foxconn says a contract was delayed last week because it left taxpayers exposed if the Taiwanese company didn’t fulfill its end of the deal.
The State Journal reports Wisconsin Economic Development Corporation member Sen. Tim Carpenter says the way the deal was structured the agency couldn’t guarantee it could recoup taxpayer funds if Foxconn violated the agreement.
Gov. Scott Walker has signed a $3 billion incentives package for Foxconn which plans to build a flat screen manufacturing complex in Mount Pleasant. The WEDC is working on a contract to execute the incentives.
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The agency’s CEO Mark Hogan has declined to comment on why a scheduled vote on the contract was delayed. Democrats on the Legislature’s audit committee have urged Hogan to release the contract details publicly before a vote is taken.
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