A new report shows it could cost Wisconsin taxpayers millions for Foxconn to come to the state and that cost could last decades.

Governor Walker’s bill would give Foxconn up to $3 billion in incentives to build a plant in southeastern Wisconsin but a new report released today says taxpayers could end up paying the price.

On Tuesday, the non-partisan Legislative Fiscal Bureau released their review of the incentives which would give Foxconn tax breaks on Construction materials and calls for the state to borrow more than $250 million dollars to rebuild I-94.

The analysis says the incentive package for Foxconn would cost the state and local governments nearly $50 million in lost sales taxes.

Local governments could lose about $11 million. They also say the earliest the state would break even between incentives given and taxes collected would be the 2042-2043 fiscal year.

It could be even longer if the company hires people from Illinois.

The numbers could change over time since these are predictions covering nearly three decades.

Save with