>> We just heard from President Trump and House Speaker Ryan
in Washington, giving a cheer for the prospect of a Foxconn
operation in the badger state.
Back at home, Governor Scott Walker held a Milwaukee welcome
party on Thursday evening.
Zac Schultz was there.
>> Governor Scott Walker and Foxconn chairman Terry Gou
signed a memorandum of understanding Thursday
taking the next step toward Foxconn's first factory
in the United States.
[cheers and applause]
>> Wow.
This is a big day for Wisconsin.
It is a big day for Foxconn.
>> The first phase of the $10 billion factory is expected to
be operational by 2020, and will produce liquid crystal display
panels, or LCD screens, for things like televisions.
>> With this deal, they will be made in America,
proudly in the great state of Wisconsin.
>> Wisconsin beat out several other states competing
for the factory.
And Chairman Gou credited Governor Walker
and the people of the state.
>> Why Wisconsin? People.
People should trust each other.
>> The deal won't come cheap.
If Foxconn creates the promised 13,000 jobs,
over the next 15 years, they will receive $3 billion in tax
credits from the state and more benefits from local governments.
>> Which is big.
It's bigger than anything we have done before.
But if you want to play in the big leagues,
it's comparable with just about every other major financial
incentive like this for a major project,
anywhere now in this country but around the world.
>> So far, most democrats like Minority Leader Peter Barca are
supportive of the proposal.
>> The opportunity is very exciting.
>> But he knows there are concerns about the size of the
tax credits.
>> I know that there will be some pushback.
There's no question about it.
On the other end of the spectrum,
it's not just the size of the package, you have to look at,
you know, the return on investments.
>> It's a really big number, but remember,
it's paid out over 15 years.
It's paid out only when people are actually hired and these are
way more than family-supporting jobs,
which is what we want in Wisconsin.
>> The next step requires the legislature to go into special
session and pass the state incentives into law.
Assembly Speaker Robin Vos says that will happen by mid-August
since the legislature won't have much say over the details.
>> I think most of the details have been negotiated with the
corporation, so of course we want to do our due diligence,
to see how they impact the taxpayer,
how we make sure there are guarantees in there.
>> The deal came together over the last few months and while
things are moving quickly, Governor Walker thinks the
impact on Wisconsin will last for generations.
>> This is something that will say to the world,
"We have arrived."
The eagle has landed
and it spread its wings and taken off again.
We are ready.
>> That was Zac Schultz reporting.