MADISON – On Tuesday, Wisconsin Manufacturers & Commerce (WMC) sent a letter to members of the Joint Committee on Finance urging them to support the Foxconn legislation – Special Session Senate Bill 1 and Assembly Bill 1. The letter was signed by WMC – the state’s chamber of commerce – and 42 local chambers from all across Wisconsin.
The text of the letter is below:
TO: Members, Joint Committee on Finance
DATE: August 22, 2017
RE: Support for Foxconn Legislation
The organizations listed above, representing local chambers of commerce from throughout Wisconsin, strongly urge you to support passage of Special Session Senate Bill 1 and Assembly Bill 1 (the Foxconn legislation). This bill will help our state realize the promise of thousands of family-supporting jobs, while transforming Wisconsin into a worldwide leader in advanced manufacturing.
The Foxconn project will benefit all of Wisconsin with a statewide economic impact. The project is expected to grow 10,000 construction jobs, 13,000 direct jobs, and 22,000 indirect jobs. Businesses from all corners of our state will be utilized to supply a manufacturing operation of this size and scale.
Wisconsin’s gross domestic product (GDP) is estimated to grow by $5.2 billion per year when the Foxconn project reaches full scale, and produces $2 billion each year in additional wages. Those wages alone will generate $115 million per year in additional tax revenue for our state – money that can and will be used to benefit all Wisconsin taxpayers.
We acknowledge that the 15-year investment of up to $3 billion in tax credits is a significant amount of money. However, it is also important to understand that over the same period, Wisconsin will realize $30 billion in additional wages and $78 billion in additional economic output – none of which will occur without the Foxconn project. The investment of $3 billion over 15 years will leverage far more for taxpayers than they are being asked to pay.
The Foxconn project is the most important economic development project in Wisconsin’s history. We have an opportunity to create thousands of family-supporting high wage jobs, while creating a hub for advanced manufacturing and information technology. We respectfully ask that you vote to support this important legislation.
FROM: Adams County Chamber of Commerce & Tourism
Beaver Dam Area Chamber of Commerce
Burlington Area Chamber of Commerce
Eau Claire Area Chamber of Commerce
Fort Atkinson Area Chamber of Commerce
Forward Janesville, Inc.
Fox Cities Chamber of Commerce
Greater Brookfield Chamber of Commerce
Greater Green Bay Chamber of Commerce
Greater Union Grove Area Chamber of Commerce
Hartford Area Chamber of Commerce
Heart of the Valley Chamber of Commerce
Heart of Wisconsin Chamber of Commerce
Kenosha Area Chamber of Commerce
La Crosse Area Chamber of Commerce
Marinette Menominee Area Chamber of Commerce
Marshfield Area Chamber of Commerce & Industry
McFarland Chamber of Commerce
Metropolitan Milwaukee Association of Commerce
Monroe Chamber of Commerce
Muskego Area Chamber of Commerce
New Berlin Chamber of Commerce & Visitors Bureau
Oregon Area Chamber of Commerce
Oshkosh Chamber of Commerce
Pewaukee Chamber of Commerce
Phillips Area Chamber of Commerce
Plover Area Business Association
Plymouth Chamber of Commerce
Portage County Business Council
Prairie du Chien Area Chamber of Commerce
Racine Area Manufacturers and Commerce
Saukville Chamber of Commerce
South Suburban Chamber of Commerce
Superior-Douglas County Area Chamber of Commerce
Sussex Area Chamber of Commerce
The Chamber of Manitowoc County
Tomah Chamber and Visitor’s Center
Watertown Area Chamber of Commerce
Waukesha County Business Alliance
Waupaca Area Chamber of Commerce
Wausau Region Chamber of Commerce
West Bend Area Chamber of Commerce
Whitewater Area Chamber of Commerce
Wisconsin Manufacturers & Commerce (WMC)
For more information, contact:
Nick Novak. 608.258.3400