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.
Read the full press release here.