Madison Mayor Paul Soglin is recommending Taiwanese electronics manufacturing giant Foxconn take over the shuttered Oscar Mayer site or either of two undeveloped sites on the city's edges for what is believed to be a possible medical-related facility.

Bond financing facilitated by WHEFA will be used to help Grant Regional Health Center, Inc. ("Grant Regional") finance the construction of 32,000-square feet of new space and renovation of 39,000 square feet of existing space at the critical access hospital in Lancaster, Wisconsin.

In addition to the 125 jobs expected to be created by Steele Solutions, an economic modeling study estimates the expansion could indirectly generate 204 additional jobs in the region. Those 249 new jobs could generate up to $2.8 million in state income tax revenue over a five-year period.

White House announced Foxconn would open its first major American factory in Wisconsin, which they said would create at least 3,000 jobs and represent a $10 billion investment. Foxconn would receive $3 billion in tax breaks and other subsidies over the next 15 years from the state.

Rhinelander currently has six TIF districts, the oldest created in 2000 and the most recent in 2013. The city may collect the tax increments in a TIF district until the net project cost has been recovered or until 27 years after its creation date, whichever comes first.

Governor Scott Walker commended the Wisconsin Health and Educational Facilities Authority (WHEFA), which just issued its 2017 Fiscal Year in Review for the fiscal year ending June 30, 2017. The report indicates WHEFA saved Wisconsin nonprofit institutions more than $38 million by refinancing outstanding debt.

Investors throughout the country are paying less for those tax credits because they believe President Donald Trump and the Republican-controlled Congress will likely cut corporate income tax rates. Such tax rate cuts would make the tax credits, which are used over a 10-year period, less valuable to banks and other firms that buy them from developers.

Join the CDFA Wisconsin Financing Roundtable for a special one-day Webinar. This event will feature a number of economic development finance experts from around the state discussing development finance tools, authorities, resources and approaches, and how these can affect the Wisconsin economy going forward.

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