Gov. Walker signs MOU with Foxconn in Milwaukee
MILWAUKEE (WLUK) -- Governor Walker and Foxconn chairman, Terry Gou, signed a memorandum of understanding in Milwaukee Thursday.
Gou told those at the event, the tech-company can now call Wisconsin home.
The event inside Milwaukee's art museum showed off all the newest technology Foxconn has to offer.
Earlier this week, Foxconn's announced it would build a 20-million square foot facility in Wisconsin.
"This will be Wisconn Valley," Gov. Walker told state and local lawmakers in attendance.
While Thursday's signed agreement is not legally binding, it does spells out the terms of the deal.
"That is for a $10-billion investment, 13,000 jobs that pay at least $53,000 a year plus benefits, in return for Wisconsin providing $3 billion worth of incentives," explained Walker.
The incentive package still needs to be voted on by the full state legislature.
"Foxconn won't get one penny of investment unless they can create a job or put a shovel in the ground and start creating infrastructure," said State Sen. Roger Roth, who was at the event.
Foxconn has been criticized in the past for agreeing to build a factory in Pennsylvania, before backing off those plans.
Roth explained the proposed incentive package looks to protect Wisconsin taxpayers from that happening here.
"The more jobs created the more incentives there are available. The more footprint, the more infrastructure created the more incentives are there. So they (Wisconsinites) have to know the state legislature is going to look at this carefully to make sure state taxpayers are protected," explained Roth.
Other lawmakers on hand at the event included, Assembly Speaker Robin Vos, and Representative John Nygren.
Nygren said Foxconn building in the southeastern part of the state will have a ripple effect.
"High water raised all ships, right, so whether it be Marinette, whether it be Milwaukee area I think it's good for our state," said Nygren.
Foxconn expects to be fully operational by 2020.