The Wisconsin Senate has approved nearly $3 billion in cash payments for Taiwan-based Foxconn Technology Group.
Foxconn plans to construct a massive flat-screen production factory in the state.
The Republican-controlled Senate on Tuesday discounted Democratic concerns about the unprecedented $3 billion incentive package and passed the bill on a 20-13 vote.
The proposal now heads to the Wisconsin Assembly for a final vote Thursday.
Democrats argue there aren't enough protections for taxpayers under the deal.
Republican Gov. Scott Walker negotiated the deal and has been touting the plant as a once-in-a-lifetime opportunity for the state. Foxconn has said it may invest $10 billion in the state and employ up to 13,000 people.
By SCOTT BAUER Associated Press
MADISON, Wis. (AP) - The Wisconsin Senate is poised to approve nearly $3 billion in cash payments for Taiwan-based Foxconn Technology Group to locate a flat-screen factory in the state.
The incentive package up for a vote Tuesday would be the largest ever from a U.S. state to a foreign company and 10 times bigger than anything Wisconsin has extended to a private business.
Foxconn would receive $2.85 billion in cash payments over 15 years if it invests $10 billion in the state and employs 13,000 people. It could also qualify for $150 million in sales tax exemptions for construction equipment.
Democrats say state taxpayers are giving up too much under the agreement negotiated by Republican Gov. Scott Walker. But Walker and supporters say the project offers a once-in-a-lifetime opportunity to the state.
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