FOR IMMEDIATE RELEASE
For Further Information Contact:
State Representative Jesse Kremer
(R-Kewaskum) (608) 266-9175
The State Assembly Approves Foxconn, Votes to Bring Historic Investment & Jobs to Wisconsin
Madison, WI – Yesterday, Rep. Jesse Kremer (R-59 Kewaskum) voted in favor of Special Session Assembly Bill 1 to bring Foxconn to Wisconsin. This project will generate a projected $10 billion in capital investment and a possible ripple effect from partnerships and secondary economic growth that could reach over $78 billion in gross domestic product over the 15-year term of the deal. Foxconn plans to create up to 13,000 jobs and in doing so will have the opportunity to earn nearly $3 billion in tax credits. Annual payroll at Foxconn will surpass $700 million once fully operational. Beyond Foxconn’s direct investment, an additional 22 thousand indirect or induced jobs are estimated to be created due the sheer size of this historic project.
Rep. Jesse Kremer stated the following upon passage, “Today is a proud day for all Wisconsinites…new manufacturing, new tech, new family supporting careers and new optimism. We took a historic step today towards building a new industry and manufacturing campus not seen anywhere in North America right here in Wisconsin. I am thrilled to be your voice of the 59th Assembly District by voting yes on the Foxconn package.”
The Foxconn tax credits are linked to actual performance and include claw-back provisions should jobs and investments not be kept in our state. Please note that all air and water quality standards still continue to apply, including those of the federal government, and the Department of Natural Resources (DNR) must ensure that the conditions of applicable permits, licenses, and approvals under the state’s jurisdiction are met for all activities related to Foxconn’s development and ongoing operation.
By streamlining the regulatory burden in this instance, we have created an opportunity for the largest foreign investment in US history” said Rep. Kremer.“However, there is still much work yet to be done in Wisconsin. Policies set into action by unelected bureaucrats at the Environmental Protection Agency and DNR continue to have negative effects on other Wisconsin businesses. A number of these issues have been on my radar this legislative session, and the rigorous debate on the Foxconn package only further highlighted the need for broader reform amongst my colleagues. To continue the successes our state will see under this legislative package, I have teamed up with other legislators in the hope that we can tackle the disparaging economic inequality caused by federal and state regulatory burdens. With the reform of these policies, we can end the loss in job opportunities for hard-working Wisconsin families and allow all businesses to have an equal playing field to pursue success.”
Rep. Kremer represents the 59th Assembly District which includes Southern Calumet, Western Sheboygan, Northern Washington and Eastern Fond du Lac Counties. Rep. Kremer’s office will continue to be located at 17 West in the Wisconsin State Capitol, and he can be reached at (608) 266-9175 or by e-mail atRep.Kremer@legis.wisconsin.gov