At about 3 minutes in this video you will hear President Trump sell out American Workers.
With so many of us saying we can’t get hired, and we have decades of high tech skills, he chooses to listen to the employers who refuse to Hire Americans in America and who continue to send jobs to other countries decreasing jobs here in America which decrease the ability of your family to work their way up the ladder.
But what really saddens me is you will hear NONE of these candidates or the President himself standing up for Americans in America.
He has never once invited highly skilled workers that can’t get hired to discuss what is happening in the job market.
Under the state contract, the company can get a tax credit covering 17% of its payroll for eligible employees. The credit is refundable, meaning the state will write a check to Foxconn if the firm doesn’t have tax liability — a strong possibility given the way Wisconsin taxes manufacturing.
Without knowing Foxconn’s 2019 payroll or how many employees it will finish the year with, it’s impossible to know how much the firm will get in job-creation tax credits. The company will have until April 1 to file payroll information with WEDC, and the agency’s subsequent review could take a few months.
Whatever the timing on the jobs credits, Foxconn stands to receive far more through another key provision of the contract that pays the firm for its “significant capital expenditures” in the special development zone created by state law in Mount Pleasant.
The contract calls for the state to give Foxconn tax credits equal to 15% of such spending, which includes expenditures on land, buildings, machinery and equipment. Those credits also are refundable.
Foxconn said last week that it so far has awarded about $350 million in construction contracts for work in Mount Pleasant. Fifteen percent of that would come to $52.5 million, though it isn’t known how much the company has spent under the construction contracts to date.
Whatever the final employment and investment numbers for 2019, Foxconn will have far to go to fulfill its initial promises to invest up to $10 billion in Racine County and create up to 13,000 Wisconsin jobs.