ICYMI: WEDC delays vote on Foxconn contract after discovering problem

ICYMI: WEDC delays vote on Foxconn contract after discovering problem
Flaw characterized as a “nuclear bomb” that would “not have protected taxpayers whatsoever”

MILWAUKEE – Gov. Scott Walker’s $3 billion gamble on Foxconn has been shrouded in secrecy from the outset with the public being kept in the dark on many of the details of the deal. The one-sided deal, that benefits a foreign manufacturer and leaves Wisconsin taxpayers on the hook for billions, was delayed by Gov. Walker’s flagship economic development agency after an “unspecified problem” was discovered that would have left taxpayers unprotected.

“It’s not surprising that career politician and economic development failure, Gov. Scott Walker isn’t able to negotiate effectively on behalf of Wisconsin taxpayers,” said Gubernatorial candidate Andy Gronik on Thursday. “This is the kind of deal produced when lifelong politicians spend all of their time focusing on being re-elected. Well, I’m not a politician, and as Governor, I would structure deals that made sound financial sense for our state and benefited all of our residents. WEDC needs to make the contract public so we can make sure that taxpayers are protected.”

The latest news isn’t the first red flag issued on the Foxconn negotiations. In August, Gronik urged the rejection of the deal out of concern over the deal after the independent, non-partisan Legislative Fiscal Bureau a memo showing that Foxconn won’t begin paying back the people of Wisconsin for 25 years.

“A 25 year payback period will be an anchor around the neck of our state – leaving very little resources for any other priorities like roads, schools, and health care,” said Gronik. “As the only candidate in the race for governor with experience creating jobs, I know we need a comprehensive plan for economic growth that supports small, medium, and large Wisconsin businesses. It’s time for a governor who won’t gamble Wisconsin’s future away.”