Speaker Ryan not concerned about Foxconn's history of broken promises
JANESVILLE (WKOW) --- Foxconn has big plans for Wisconsin -- a $10 billion investment and up to 13,000 new jobs. But the company has made this sort of promise in the past, only to renege.
In 2013, the Foxconn pledged to invest $30 million in a factory in central Pennsylvania. Four years later and there's still no plant. And they're not alone. In 2014, Foxconn promised a $1 billion investment in Indonesia that hasn't happened. And in 2007, a promise to invest in Vietnam has failed to materialize.
House Speaker Paul Ryan said during a stop in Janesville Thursday that he's confident Foxconn will fulfill it's promise to Wisconsin.
“I think you have a Memorandum of Understanding signed by the governor. I think you have the kind of relationships...I met with Rockwell Automation today, who's working very, very closely on a daily basis with Foxconn as well. So we're deep into this, deeper than any other state was with Foxconn. And again, what the governor has erected with the state government is putting together is a contingency based plan. And I think that's a smart way to go,” Ryan said.
Foxconn wants to build its main manufacturing facility in the southeastern part of the state.
As part of the plan, the Wisconsin legislature will create an electronics and information technology manufacturing zone. Part of that legislation will also include up to $3 billion in tax incentives paid out by the state, if the company delivers on its end of the deal.