MADISON, Wis. (AP) — The Latest on Wisconsin state Assembly committee hearing on $3 billion tax incentive bill for Foxconn manufacturing plant (all times local):
The chairman of Foxconn Technology Group is reiterating to Wisconsin state lawmakers that the Taiwanese electronics company plans to invest $10 billion in the state and eventually employ 13,000 people at a massive display panel factory.
Testimony from Foxconn CEO Terry Gou was read at the beginning of a state Assembly committee hearing Thursday on a $3 billion tax incentive package. Construction of the plant is contingent upon the Republican-controlled Legislature passing the tax break bill.
Gou said in statement read by committee chairman Rep. Adam Neylon that the project will "transform the American electronics industry" with the first liquid crystal display monitor plant outside of Asia.
Minority Democrats and others have questioned whether Foxconn will follow through with the investment and job-creation promises.
The public is getting a chance to tell Wisconsin lawmakers what they think of a $3 billion tax incentive package that's part of an agreement struck with electronics giant Foxconn Technology Group.
A Wisconsin state Assembly committee scheduled a hearing on the proposal Thursday.
The Taiwanese-based Foxconn has pledged to invest $10 billion in southeast Wisconsin on a liquid crystal display panel assembly plant that could employ 13,000 people over six years. The incentives are tied to job creation and investment targets.
Other parts of the bill include borrowing more than $250 million to rebuild Interstate 94 near where the plant would be and the waiving of numerous environmental permit requirements and regulations to speed construction.
Foxconn has said it hopes to open the plant in 2020 with 3,000 workers.