A fully built Foxconn Technology Group plant would add $51.5 billion to Wisconsin’s gross domestic product over the 15 years the state pays incentives to the company, a new analysis by the Metropolitan Milwaukee Association of Commerce concludes.
That would equate to $18 of economic impact for every $1 spent by the state, the business group, which worked to help attract Foxconn, said.
Averaged over the 15 years, the MMAC’s estimate amounts to an additional $3.4 billion annually in state gross domestic product from Foxconn. That would tack another 1% onto Wisconsin’s current GDP of about $313 billion.
Since the recession, the state’s GDP has grown at an average of 3.6% a year.