this post was submitted on 29 Aug 2023
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How much do you think the taxpayers are on the hook for from the deal? Just curious what you think.
Why does it matter what he thinks? We have actual figures:
https://urbanmilwaukee.com/2023/07/06/murphys-law-foxconn-deal-is-still-costing-taxpayers/
"That brought the total costs for taxpayers and ratepayers to build the manufacturing campus to $683 million... with more costs likely to come.
"The debt taken on by the Mount Pleasant village government amounts to 500% of its operating revenue
"Foxconn hired hundreds of workers toward the end of 2019, claiming them on its report to the state for the 2019 year, and then quickly laying the employees off early in 2020.
"Microsoft plans to pay $50 million... to Foxconn, to reimburse it for money it spent to buy land. Meanwhile, local taxpayers will be on the hook to Microsoft, which will be eligible for up to $5 million per year based on improvements it makes to the land — this on a campus for which state and local taxpayers already spent hundreds of millions for road connections and sewer, water and electric infrastructure."
Woah... this is some valuable E C O N O M I C D E V E L O P M E N T