F-Con
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snobuilder
Well-known member
china hates to see their workers unemployed. I bet they are really pissed that foxconn is building in WI.
Buy some more Apple Iphones, ....LOL....be a partner not a doom and gloomer....LMAO
Buy some more Apple Iphones, ....LOL....be a partner not a doom and gloomer....LMAO
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here is my question.... A certain motor cycle manufacturer wants to move part of its production to europe to build bikes they sell in "europe" and what is our response? I dont remember the name calling and threats made bu a certain person, but know the overwhelming response was that it was not wildly accepted, and what of all the other companies that have moved cross the border or the ocean, wish I could remember all the good our main man had to say about that. But.... when a large corporation from over seas wants to move some of its production we roll out the biggest red carpet this state has ever seen, and yes jobs will be created but at tax payers expense, and again the infrastructure in this county is miserable to say the least and we never had money to fix it, and over night everyones property value went up, for what??? so we can pay for all the new infrastructure we have to put in for this red carpet deal. the hiring numbers have been wishy washy from the get go, first we were going to hire all local people, now it is people from the united states, and if we are going to hire local people why are we going to be building housing? I could be wrong but such a large technological corporation as this im sure they are going to have their own people in to get it running and how many are going to go back? how many wont be paying income taxes for 7 years? I dont know about everyone else but as a tax payer this bothers me, and as a business owner that got no red carpet of any sort, no tax concessions, if I am a day late on my tax liabilities it is an instant $700 fine, that bothers me. Seeing all this farm land, many of which were family farms disappearing is sad, or how some land was worth millions and other peoples land was blighted and basically taken from them is wrong. And with f-con's track record of wanting to build in other places in this country or world is shady to say the least. Why are they here? im sure it isnt because the labor is cheaper, they claim its because we are their biggest customer. But a large corporation such as them having such a big red carpet rolled out for them, not having to pay taxes for how many years? located near one of the biggest puddles of fresh water, why wouldnt they? one other thing no one has mentioned is where are all the profits going to go. I wish someone would explain why when one of our manufacturers wants to move its european production to europe its the end of the world, but when a foriegn company wants to move here we give them everything they want and then some, while the tax payers take it in the rear. Obviously I think this is a bad thing, maybe I will be proved wrong, but so far there has been so many changes and no guarantees im not holding my breath. and with the latest news of losing market share and making cuts, how would this country feel if one of our large manufacturers was losing share here but continuing to build or expand in foreign markets, oh wait a minute, it has happened and we don't like it so how is this different. I just think its a bad thing that we will be on the line for long after they are gone.
I'm in hope all this works out. So many chances it blows up, so few chances it pans out as hoped/planned??? Many, many of these type of "business buys" now days do blowup. The money disappears somehow, and the tax payers are held liable. Used to be our economy was strong enough, or of the stature, that businesses stood on their own. They carried themselves as the "paying consumers" provided the revenue source. Seems that is gone. This "buying business" stuff has been exploited by Walmart/Sams Club for many years, through tax abatement/exemption/reduction/elimination/shifting schemes. Some with large amounts of cash up front that does not have to be returned/repaid if things don't work out. Those deals are the ultimate of pure ignorance!!! Also more times than not the Walmart deals close other businesses down for various reasons. There's a lot of $$$ on the line here. I again say I sure hope it all works out.
From a Forbes article I read this week regarding the Apple Phones, it said the engineering and marketing is all done here in the states. Components are sourced from around the globe and the assembly is in China where their labor can build a phone for about $10.
I too hope it works out old abe, there is just so much on the line, too much to lose, with a company with a not so good track record as far as promises go, in an industry that changes as much as the weather does. Time will tell.
Agree all the way!!!!!!!!!!!! Seen too many of these lures deals blowup.
snobuilder
Well-known member
The doom and gloom coming out of youse liberals is entertaining and all but here are a some facts.....something none of youse have bothered with in this entire thread....LOL
Q: Why should we, in southwestern Wisconsin, care about Foxconn?
A: Foxconn represents an entirely new industry for manufacturing in Wisconsin and the United States as a whole. They plan to bring up to 13,000 new jobs to our state and will invest $10 billion to build a 20 million square foot facility which is the size of 11 Lambeau Fields. This plant will be the first LCD facility outside of Asia.
In addition to the direct impact of the Foxconn plant itself, the residual jobs and dollars created during construction and in its supply chain will have rippling impacts all over the state. One commenter on my Facebook page said, “This is not a stone in a pond ripple effect. This is an asteroid in a pond ripple effect. This will benefit the economy statewide.”
We have manufacturers and suppliers in our communities who may directly and indirectly work with Foxconn. The Supply Chain Marketplace tool was launched this week as a pipeline for manufacturers and service providers to connect with Foxconn. Take a look at the following link to learn more: www.WISupplyChainMarketplace.com.
We also have universities and colleges poised to train workers for Foxconn, their suppliers and spin-offs that may result from having a new technological company in our midst. A techno-giant like Foxconn draws the attention of investors and entrepreneurs to Wisconsin. We cannot possibly predict all of the potential benefits of this investment.
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Q: What if we give Foxconn all of this money and they don’t come through? What kinds of guarantees do we have?
A: We are not “giving” Foxconn any money up front. The company will have to spend money and hire people to receive any of the incentives.
There are three types of incentives that the state is considering for Foxconn:
1. Payroll Tax Credits – 17% of qualified wages paid to full-time employees with a cap of $1.5 billion. The 17% will only be calculated for positions that pay $30K - $100K annually.
2. Tax Credits for Capital Expenditures – 15% of significant capital expenditures for seven years with a limit of $1.35 billion.
3. Sales Tax Exemption for building materials, supplies, equipment and taxable landscaping and lawn maintenance services for construction and development of the facility.
The state will set specific thresholds and measurements with the company during contract negotiations. They will have to meet specific numbers in order to qualify for different levels of tax credits. The bottom-line is that they will not get credits unless they meet the goals we set with them.
I would also ask every reader to consider whether they would bail out of something into which they invested $10 billion? Foxconn will have more skin in this game than we will.
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Q: Wouldn’t our money be better spent on schools, roads, etc?
A: Again, we are not “giving” Foxconn any current money from the state treasury. We are not cutting Foxconn a check before they put a shovel into the ground or before they hire a single person. We are not taking money from another program or priority to pay Foxconn.
The credits Foxconn will receive would not exist without Foxconn’s existence in Wisconsin. The tax credits that make up the incentives are directly tied to Foxconn’s payroll and Foxconn’s spending to build their facility. They have to put the money in to get the money out.
Any investments that the state and local governments make to improve roads and infrastructure will benefit citizens for generations regardless of Foxconn.
Q: Why should we, in southwestern Wisconsin, care about Foxconn?
A: Foxconn represents an entirely new industry for manufacturing in Wisconsin and the United States as a whole. They plan to bring up to 13,000 new jobs to our state and will invest $10 billion to build a 20 million square foot facility which is the size of 11 Lambeau Fields. This plant will be the first LCD facility outside of Asia.
In addition to the direct impact of the Foxconn plant itself, the residual jobs and dollars created during construction and in its supply chain will have rippling impacts all over the state. One commenter on my Facebook page said, “This is not a stone in a pond ripple effect. This is an asteroid in a pond ripple effect. This will benefit the economy statewide.”
We have manufacturers and suppliers in our communities who may directly and indirectly work with Foxconn. The Supply Chain Marketplace tool was launched this week as a pipeline for manufacturers and service providers to connect with Foxconn. Take a look at the following link to learn more: www.WISupplyChainMarketplace.com.
We also have universities and colleges poised to train workers for Foxconn, their suppliers and spin-offs that may result from having a new technological company in our midst. A techno-giant like Foxconn draws the attention of investors and entrepreneurs to Wisconsin. We cannot possibly predict all of the potential benefits of this investment.
- - - Updated - - -
Q: What if we give Foxconn all of this money and they don’t come through? What kinds of guarantees do we have?
A: We are not “giving” Foxconn any money up front. The company will have to spend money and hire people to receive any of the incentives.
There are three types of incentives that the state is considering for Foxconn:
1. Payroll Tax Credits – 17% of qualified wages paid to full-time employees with a cap of $1.5 billion. The 17% will only be calculated for positions that pay $30K - $100K annually.
2. Tax Credits for Capital Expenditures – 15% of significant capital expenditures for seven years with a limit of $1.35 billion.
3. Sales Tax Exemption for building materials, supplies, equipment and taxable landscaping and lawn maintenance services for construction and development of the facility.
The state will set specific thresholds and measurements with the company during contract negotiations. They will have to meet specific numbers in order to qualify for different levels of tax credits. The bottom-line is that they will not get credits unless they meet the goals we set with them.
I would also ask every reader to consider whether they would bail out of something into which they invested $10 billion? Foxconn will have more skin in this game than we will.
- - - Updated - - -
Q: Wouldn’t our money be better spent on schools, roads, etc?
A: Again, we are not “giving” Foxconn any current money from the state treasury. We are not cutting Foxconn a check before they put a shovel into the ground or before they hire a single person. We are not taking money from another program or priority to pay Foxconn.
The credits Foxconn will receive would not exist without Foxconn’s existence in Wisconsin. The tax credits that make up the incentives are directly tied to Foxconn’s payroll and Foxconn’s spending to build their facility. They have to put the money in to get the money out.
Any investments that the state and local governments make to improve roads and infrastructure will benefit citizens for generations regardless of Foxconn.
Ha ha, snobuilder!!! I really do enjoy, and get a laugh at how you get the "right", "left", or what ever tag you call whoever into most of your comments!!! Got to be careful here on the political stuff. And I'm not trying to poke at you. But I must ask, "right" = conservative??? Seems these type business deals are of the "liberal" type thinking, eh??? Or perhaps "counterfeit conservative"??? Anyway, I say so what!!!!!!!!!!! Good comments #49 above.
snobuilder
Well-known member
I just enjoy throwing cold water on the doom and gloomers. I'm still waiting for any other facts besides mine....and please no anecdotal evidence.
How on earth can you possibly cite this as a "liberal type thinking" when the deal was put together by a conservative president, conservative Speaker of the House from Wisconsin, conservative governor, conservative Senate, and conservative Assembly?
snobuilder
Well-known member
all I know is it is hard to comment on this new jobs deal if we can't also talk politics. It would not exist except for WI legislation.
I want this to WORK and I like the way it was set up to succeed for both Foxconn AND WI residents before ANY incentives kick in.
I realize that economies and companies are never stagnant and perfectly predictable but a positive attitude towards this deal will go a long way to it's success vs. everyone having a negative "SEE I told you this was a bad deal" attitude which is so petty and useless I say.
I want this to WORK and I like the way it was set up to succeed for both Foxconn AND WI residents before ANY incentives kick in.
I realize that economies and companies are never stagnant and perfectly predictable but a positive attitude towards this deal will go a long way to it's success vs. everyone having a negative "SEE I told you this was a bad deal" attitude which is so petty and useless I say.
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I'm not commenting to do that snobuilder. It's just so many of these type deals blowup somehow. No matter large, or small. And then the taxpayers inherit the spoils. Again, I hope this thing all works as intended!!!
snobuilder
Well-known member
I wonder if the UW system will now give back the $100,000,000 gift they received from Foxconn?....any professors on here?
Keep on cheerleading a failure for Foxconn, Dems....SMH.
Keep on cheerleading a failure for Foxconn, Dems....SMH.