Thursday, July 12, 2018


A Better Mt. Pleasant: 
While the story in today's JT about the guy who scored the first 
Foxconn license plate is awfully cute, this one is perhaps a bit more 
relevant to people in our community. 
(Again, JT Publisher Mark Lewis sits on the boards of both RAMAC and 
RCEDC - not exactly well positioned to be the least bit critical of 
the deal.) 
How many times were we told 13,000 jobs with an average salary of $53k 
per year? So many times, it HAS to be true, right? 
A couple things to know: 
1. The state originally wanted to cap the salaries to be averaged at 
$100,000. Foxconn wanted no cap at all - all salaries would get 
The state offered $200,000, and then $250,000, and ultimately caved at 
$400,000. The high paying jobs skew the average - a lot. 
With a $100,000 cap to average - Foxconn could pay 65% of its workers 
$30,000 per year and still make its average salary commitment. 
A $400,00 cap to average means Foxconn can pay 93% of its workers 
$30,000 per year and still make its average salary commitment. 
A living wage for a family of 3 in Wisconsin is $59,675. 
2. The legendary 13,000 jobs? Well, that's a potential number - as in 
some day they may hire up to 13,000 people. 
As for the initial 3,000 jobs - the expected 500 employees in 
Milwaukee and 200 employees in Green Bay count towards that number. 
Mt. Pleasant is down to 2,300 jobs, but still on the hook for a $860 
million TID. 
2,300 is a fine number, however Amazon employs 3,000 full time and 
5000 part time workers - when they can find them - and it didn't cost 
us a dime. 
3. Mt. Pleasant is scheduled to go back for another round of 
borrowing. No worries, this time will only be for around $20 million.

1 comment:

TSE said...

Embrace the SUCK!