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Foxconn Package Returns $18 in Economic Impact for Every $1 in State Incentive

3/22/2018

 
MMAC today released its analysis of the projected impact to Wisconsin’s gross domestic product (GDP) from the incentive package tied to Foxconn’s capital investment and job creation. GDP is the best measure of the value added to the economy.  The analysis is based on the state’s tax credit agreement executed with Foxconn on November 10, 2017.

The Foxconn development is projected to add almost $52 billion to Wisconsin’s GDP over the 15 years in which the state would pay out $2.8 billion, under a fully executed incentive package. The impact on GDP is derived from investments in capital, employment during construction, operating payroll from the plant, supply chain expenditures and their combined indirect economic impact. “The ripple effects of Foxconn’s $9 billion in capital investment, and the ongoing employment from up to 13,000 jobs, generate a return of $18 in additional state GDP for every $1 in state incentives,” said MMAC President Tim Sheehy.
Foxconn / WEDC Incentive Contract Tables
File Size: 133 kb
File Type: pdf
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For more information:
Tim Sheehy
President of MMAC 
414/287-4125
The MMAC analysis recognizes that the incentive package is based on a “pay as you grow” model. Only when capital is expended and payroll is committed does Foxconn qualify for the incentives.  The snapshot of economic impact applies only to the 15-year window of the state’s incentive package. “Much like priming a pump, the flow from Foxconn’s spending beyond the 15-year incentive window would significantly increase the state’s return. We believe this GDP analysis, while conservative, provides the fullest picture of the state’s return on investment,” stated Sheehy. This deal is one of largest corporate expansion projects in U.S. history.  
 
Sheehy continued, “We should not lose sight that Foxconn’s investment in manufacturing high-resolution panels, combined with a faster telecommunications infrastructure, puts us in play in the digital economy. Bottom line, if you live or work in Wisconsin, the return on the Foxconn investment is real.”
 
MMAC is the region’s largest business organization, with more than 2,000-member companies supporting more than 300,000 jobs. MMAC is dedicated to a globally competitive region that drives high value jobs to support a vibrant quality of life for all. 


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  • JOIN
  • Membership
    • The benefits of joining
    • Member Appreciation Tour
    • Member directory >
      • Member Spotlights
      • Talent Solutions Directory
    • What we do >
      • Talent >
        • Ranking Milwaukee County Schools
        • Education recommendations
        • Technology Education & Literacy in Schools (TEALS)
        • Career-based learning experiences
      • Growth
      • Livability
      • Equity
      • Peer metro comparison
    • Cost saving programs >
      • Health insurance plan
      • Office supply discount program
      • Certificates of origin
    • Events >
      • 2023 All Member Meeting >
        • 2021 All Member Meeting
      • 2023 Diversity, Equity & Inclusion Summit
      • Replay: Take 10 series
      • Replay: Race Bridge Series
      • Talent Solution Series
      • Emerging Leaders Series
      • Global Business Insights Series
      • Member Orientation
      • Replay: The Business of MKE Series
    • For members only >
      • Fall 2022 Impact Report
      • Sponsorship
      • Advertising
    • Need more info?
  • Networks
    • Leadership Council
    • President's Huddle
    • Executive roundtable program
    • FUEL Milwaukee for young professionals
    • Future 50 Awards Program
    • Networking Forum for referrals
    • Region of Choice Initiative
    • Roundtables for high-growth companies
    • World Trade Association
  • Advocacy
    • Local & State Priorities
    • 2021-2022 Legislative Scorecard >
      • Senate Votes
      • Assembly Votes
    • Funding Local Governments
    • Miller Park economic impact study
    • Wisconsin State Legislature
    • K-12 Education Recommendations
  • Economic Development
    • Attracting or expanding businesses in the MKE region >
      • Milwaukee 7 Partnership
    • Supporting local startups >
      • MKE Venture Mentoring Service
      • M7 Venture Capital Fund
      • New business planning guide
    • Milwaukee Development Corp. >
      • Rebuild & Revitalize Program
    • Milwaukee Urban Strategic Investment Corp. (MUSIC)
    • Milwaukee EB-5 Visa program
  • Metro MKE
    • 2023 Navigate Business MKE
    • State of Manufacturing
    • Business outlook survey
    • Economic trends
    • Local media listings
    • Major employers in metro Milwaukee
    • Metro Milwaukee demographics
    • Order a publication
    • Relocating a business
  • About
    • Board of directors
    • Career Opportunities at MMAC
    • Staff
    • Milwaukee Commerce magazine
    • News
    • Members of the media >
      • Recent Media Coverage
    • Scholarships for minority students