WEDC needs to read contract before signing Foxconn deal

More concern over Foxconn. Members of the Wisconsin Economic Development Corporation are still working to finalize the deal that calls for the manufacturer of flat screens to build a $10 billion plant in Wisconsin, with taxpayers to subsidize the project to the tune of $3 billion. The board has already put off a scheduled vote to finalize the incentive package, but some on the board are concerned the deal is being rushed through. State Senator Tim Carpenter thinks he and fellow board members need more time to make sure Wisconsin taxpayers are protected in this deal. And in order to properly do that, members of the board need to be able to take the time to understand exactly what they are voting on. This is a complex deal, the largest state subsidy to a foreign company ever. But Carpenter says he still hasn’t been able to read the proposed contract, receiving only summaries of the document. Some of those summaries were provided to board members only hours before the first vote was scheduled. That vote was delayed, and the board is now scheduled to vote to finalize the contract on November 8. Carpenter wisely wants to be able to read the document before casting a ballot. But why is he the only member of the board to say so? Shouldn’t we expect every member of the board to read the entire contract before casting a ballot? With $3 billion of our money on the line, that should be the least we should expect.