Gov. Scott Walker says he’s not concerned that Foxconn plans to build a large factory in China while also promising to open a plant in southeastern Wisconsin.
Some financial analysts in Asia say the large facility Foxconn is building in southern China could undercut costs of a Wisconsin plant and limit the size of what’s developed here. Walker told reporters Monday in Mukwonago that Foxconn’s dual plant plan won’t be a problem.
“They’re looking at their market in southeast Asia. They need to keep up with that,” Walker said. “The market they’re looking to address and protect here is the United States. They want to make LCD panels in America, largely to service the market in America,” Walker said.
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Walker said he agrees with analysts who say Foxconn is worried about the Trump Administration possibly increasing tariffs and limiting imports. The governor says the Taiwanese company wants to have a permanent base in the United States.
Walker is also is defending asking legislators to vote on the $3 billion incentives package for Foxconn before the state has a contract with the company. The timing issue has surfaced as the Legislature’s budget committee and state Senate look more closely at the proposal.
State law on incentives needs to be updated first, Walker said.
“The difference here is because of the magnitude of the size for which I don’t believe any of my predecessors ever anticipated something this big, it needs to be modified so they can do that, ” Walker said.
Walker said after the Wisconsin Economic Development Corporation finishes negotiating a contract with Foxconn, the agency’s bi-partisan board will oversee the deals. He said the panel will make sure Foxconn meets its promises for capital investment and creating jobs.
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