Foxconn package would cost $50 million in lost sales taxes - WXOW News 19 La Crosse, WI – News, Weather and Sports |

Foxconn package would cost $50 million in lost sales taxes

Posted: Updated:
MADISON, Wis. (AP) -- -

Fiscal estimates show Gov. Scott Walker's incentives package for Taiwanese electronics giant Foxconn would cost the state and local governments nearly $50 million in lost sales taxes.

Walker has introduced a bill that would give Foxconn up to $3 billion in incentives to build a plant in southeastern Wisconsin. According to state agencies' fiscal estimates, provisions blocking sales taxes on construction materials and equipment would cost the state about $139 million. Local governments would lose about $10.7 million.

Payroll and capital expenditure tax credits would cost the state about $2.85 billion.

The bill also calls for borrowing $252.4 million to rebuild Interstate 94. The interest on that borrowing from 2019 through 2042 would total $408.3 million.

Foxconn has said the $10 billion Wisconsin plant could bring up to 13,000 jobs.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly