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Democrat: Revised Foxconn contract will protect taxpayers

MADISON, Wis. (AP) — A Democratic legislator on the state’s economic development board says he’s now satisfied that taxpayers are protected in an incentives contract with Foxconn Technology Group.

Sen. Tim Carpenter sits on the Wisconsin Economic Development Corporation, which has been negotiating a contract to put into effect $3 billion in state incentives for a Foxconn flat-screen plant in Mount Pleasant.

The board delayed a vote on the contract last month after WEDC officials alerted board members of an unspecified flaw. Carpenter warned that taxpayer funds could be exposed if Foxconn doesn’t fulfill the deal.

Carpenter says now he has seen the contract and the language has been revised to “defuse the nuclear bomb.” It’s expected to get approval in a vote on Wednesday.

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