Foxconn to Add $51.5 Billion to Wisconsin Economy

Granted, it is not from an uninterested source, but the numbers are not unreasonable considering the projected size of the facility.

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.

Averaged over the 15 years, the MMAC’s estimate amounts to an additional $3.4 billion annually in state gross domestic product from Foxconn. That would tack another 1% onto Wisconsin’s current GDP of about $313 billion.

Since the recession, the state’s GDP has grown at an average of 3.6% a year.

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1224, 24 March 2018

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Economy

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Foxconn

5 Comments

jjf on March 24, 2018 at 4:18 pm

Those magic multipliers, they’re multiplying. 18:1. Wow. Hard to believe.
Paul on March 25, 2018 at 2:37 pm

Citation missing.
Mark Hoefert on March 25, 2018 at 4:26 pm

Those magic multipliers, they’re multiplying. 18:1

Yeah, I am always skeptical of how they come up with magical numbers like 24:1.

http://host.madison.com/wsj/news/local/education/on_campus/uw-madison-claims-billion-in-state-economic-impact/article_f1fab3fd-5b2f-5606-883e-9ac85bbcf277.html

For every $1 of state tax investment to the university, there is $24 in economic activity in the state, the study found
Jason on March 25, 2018 at 8:21 pm

Uh that’s different Mark, because that number supports the troll’s point of view. LOL
jjf on March 31, 2018 at 9:35 pm

Not at all. Yes, all those multipliers are suspicious to my eye. Why would you think one is better than the other?