Wisconsin Democrat gubernatorial candidates continue to stake their campaigns on opposing job creation efforts, proving to voters how out-of-touch they really are. Every single Democrat running for governor this year has openly opposed Governor Scott Walker’s successful recruitment of Foxconn to Wisconsin, despite growing indications of its potential benefits to the state.
According to a new analysis by the Metropolitan Milwaukee Association of Commerce, a fully built Foxconn plant would add $51.5 billion to the state’s gross domestic product, which “would equate to $18 of economic impact for every $1 spent by the state.” On top of this, the project is estimated to create 13,000 new jobs for Wisconsin workers. Despite these potential benefits, Democrats remain opposed to the project.
By staking their candidacies on opposing job creation efforts, Democrat gubernatorial candidates Andy Gronik, Tony Evers, Dana Wachs, Mahlon Mitchell, Kathleen Vinehout and others continue to show that they are more committed to pushing their partisan political objectives than helping the people of their state.
A fully built Foxconn Technology Group plant would add $51.5 billion to Wisconsin’s gross domestic product over the 15 years the state pays incentives to the company, a new analysis by the Metropolitan Milwaukee Association of Commerce concludes.
That would equate to $18 of economic impact for every $1 spent by the state, the business group, which worked to help attract Foxconn, said…
In assessing Foxconn’s impact on Wisconsin, people should look beyond the issue of how quickly Wisconsin will recoup the tax dollars provided to the firm, MMAC President Tim Sheehy said.
While that is important, the larger effects on the state’s economy of the massive Foxconn development are sometimes forgotten, he said.
‘We did the study primarily because we believe (that) in the back and forth on this project that we’ve lost sight of the tremendous economic impact that can come from this project, and that it’s been so narrowly cast’ in terms of when will the new tax revenue generated by Foxconn jobs cover the state’s payments to the company, Sheehy said…
Gross domestic product is a key measure of economic performance — similar to a company’s revenue, but for a state, region or nation. As defined by the U.S. Bureau of Economic Analysis, it represents the market value of goods and services produced by the labor and property located in a place.
Sheehy said GDP offers a picture of ‘the economic health or wealth’ of a place.