LETTERS: The hugely expensive Foxconn deal doesn’t look so good now

To Ozaukee Press:

Is Foxconn a good deal?

There are serious economic questions about this deal.

Scott Walker has picked one huge winner at the expense of other businesses and individuals whose taxes will now support about $4.1 billion of direct subsidies funneled into the Foxconn project in Racine County.

Taxpayers in Ozaukee County will have less money to spend on schools, better roads and health care, or to put in their own pockets because their taxes are going to subsidize the Foxconn deal.

A company with an unreliable history, Foxconn has recently shifted from the proposed plan to manufacture large TV screens to producing smaller LCD panels.

This will make it difficult for Wisconsin suppliers to compete with existing high-volume producers.

World-wide suppliers manufacture millions of light-weight components that are inexpensive to transport here.

The estimate of 13,000 jobs to be created does not account for the jobs lost due to lower economic incentives for the rest of the state.

Business writer John Torinus estimated that in the past the average state subsidy per new job created in Wisconsin was about $23,000.

Let’s use conservative numbers: $3 billion in taxpayer money and a $30,000 subsidy per job.

That would have been 100,000 hometown jobs spread throughout the entire state of Wisconsin.

Our governor and local legislators (Stroebel, Darling, Brooks and Ott) have not adequately explained how the Foxconn deal fits with their loudly proclaimed free-market philosophy.

They have yet to produce a strong businesslike cost-benefit analysis without the partisan gibberish.

It’s time for the voters to bring us back to the fair-minded Wisconsin we once knew.

The Democratic Party has always been for hard-working families.

I am pleased that this year, there are many superbly-qualified Democratic candidates to bring us back to our traditional Wisconsin values.

Tom Lohr
Grafton

 

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Ozaukee Press

Wisconsin’s largest paid circulation community weekly newspaper. Serving Port Washington, Saukville, Grafton, Fredonia, Belgium, as well as Ozaukee County government. Locally owned and printed in Port Washington, Wisconsin.

125 E. Main St.
Port Washington, WI 53074
(262) 284-3494
 

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