MADISON – Governor Scott Walker released his Weekly Radio Address today titled “Wisconsin’s Foxconn Bonus.”
Hi, Governor Scott Walker here.
Earlier this week Foxconn announced another investment in Wisconsin to purchase a seven-story building in downtown Milwaukee to serve as their new home in Wisconsin—Foxconn Place.
This new investment in Milwaukee is completely separate from any state incentives.
This is Wisconsin’s Foxconn Bonus.
Milwaukee is a first-class city at the center of business and innovation and that is why Foxconn has chosen to make it their Wisconsin headquarters.
Foxconn is going to create up to 13,000 jobs directly, another 22,000 jobs indirectly, and up to 10,000 construction jobs that will be needed to build their $10 billion campus in Mount Pleasant.
Once Foxconn is fully operational, the company is expected to spend roughly $800 million each year on payroll –that’s with an average salary of $53,875 annually.
And, Foxconn is expected to spend $1.4 billion per year working with other Wisconsin companies.
To put that into context, Oshkosh Corporation another great company in our state, spends about $300 million annually with other Wisconsin companies.
That means the Foxconn investment will be more than four times as much.
This investment in Wisconsin is the largest corporate attraction project in U.S. history measured by jobs, and it is the largest economic development project in Wisconsin history.
This is a once-in-a-lifetime opportunity for Wisconsin, and this new Foxconn investment in downtown Milwaukee shows us once again that Foxconn is committed to our state.
The future is being built right here in Wisconsin.
This latest announcement is yet another part of the Foxconn Bonus.
Watch for more to come.