One wonders what the package will be.
MADISON, Wis. (AP) — A Republican state senator says the state may reach a deal with Taiwanese manufacturer Foxconn by the end of the month and budget talks are being delayed as an incentive package is worked out.
Sen. Luther Olsen tells The Associated Press on Thursday that talks are ongoing about what incentives the state may have to offer to get the iPhone manufacturer to commit.
Olsen says, “I think we should hold off on settling the budget until we know what’s going on with this.”
Republican Senate Majority Leader Scott Fitzgerald tells AP that “huge, big numbers” are being talked about to help land Foxconn. But he says he hasn’t discussed them yet with his caucus.
I am not opposed to sensible subsidies to lure large businesses to Wisconsin. The economic impact of something like Foxconn would be huge, so I would expect the incentives to be huge. As long as the benefits to the taxpayer outweigh the costs, let’s get this deal done.
What is more interesting is how this is impacting the debate over the state budget. Some folks are convinced that we need to hold off on a budget to see what the plan is while others are convinced that we need to get the budget done to demonstrate the state’s fiscal solvency. The fact that the Foxconn negotiation is impacting our state budget to this extent indicates just how big it is.