Walker and Foxconn leader sign plant contract

Walker and Foxconn leader sign plant contract

Gov. Scott Walker and Foxconn Technology Group chairman Terry Gou have signed off on a $3 billion contract for the Taiwanese company to build a massive display screen factory in southeast Wisconsin.

Walker and Gou signed a contract Friday that locks the state into providing up to $3 billion in tax incentives if Foxconn invests $10 billion on a new display screen manufacturing factory and campus near Racine. The Taiwanese company would also have to hire 13,000 workers to get the full benefit.

It is the largest state tax incentive package offered to a foreign company in United States history.

Gou is personally guaranteeing up to $500 million if Foxconn does not fulfill its side of the contract.

The contract signing comes after the state Legislature approved general terms of the deal. Wisconsin beat out several other states for the plant.

Walker said the size of the Foxconn building will now be the size of 15 Lambeau Fields, instead of the 11 Lambeaus he has said in the past.

Both Ryan and Walker thanked President Donald Trump for making the deal possible.

“Whether you agree or disagree with the politics of the president, this would not have happened without him,” Walker said.

During the presentation Foxconn representatives gave a presentations showing how their 8K technology will revolutionize visual computing, security and medical fields.

At the end of the signing ceremony, Walker and Gou held up a Wisconsin Foxconn license plate.

“It is great to be home,” Gou said.