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WEDC

Competition: Good for Individuals and Society

Pres. Biden plans measures to increase market competition. David Leonhardt reports Biden’s New Push (‘The U.S. economy suffers from a lack of competition. President Biden wants to change that’): The U.S. economy has been less dynamic in the 21st century, by many measures, than it was in the late 20th century. Fewer new businesses are starting.…

Foxconn: Perhaps – Perhaps – a Few Lessons Learned

Scott Cohn of CNBC reports After Wisconsin’s Foxconn debacle, states and companies rethink giant subsidies. Rethinking is a hopeful prospect, but there has been significant lasting damage, as Cohn reports: Economic development officials in Wisconsin say they are more than ready to move on to other matters now that they have renegotiated a massive subsidy deal…

Adding the Amounts Spent for Foxconn (So Far)

Wisconsin’s new deal with Foxconn will reduce the cost to state taxpayers, but local governments have already spent vast sums on a project that will not – by Foxconn’s own belated admission – come close to what was originally, and ludicrously, promised. Bruce Murphy writes of The True Costs of New Foxconn Deal: the true cost…

Foxconn: New, More Realistic Deal Means 90% Reduction in Goals

After years of flamboyant lies about what Foxconn would be able to achieve in Wisconsin, there’s a new deal with that foreign corporation. That new arrangement reflects a reduction of 90% or more in what Wisconsin expects and what the state will offer. Local governments have already wasted millions on absurdly grandiose, false promises Not…

Foxconn’s Venture Capital Fund

Bruce Murphy has a solid assessment of Foxconn’s much-touted (by Foxconn) venture capital fund in About That Foxconn Venture Capital Fund. It’s well worth reading in full. A few key points: Unfulfilled: Louis Woo of Foxconn had promised this venture fund for startup companies would naturally connect to Foxconn’s innovation centers in Eau Claire, Green Bay…

Whitewater Common Council Meeting, 1.19.21: 6 Points

The Whitewater Common Council met last night, 1.19.21. The agenda for the meeting is available. A few remarks, on selected items of the agenda —  1. Public Works Buildings. Whitewater plans to update its public works buildings, now scattered over a multi-acre plot near Starin Road. The total estimated price is high for a small town (about…

Whitewater Common Council Meeting, 10.20.20: Basics and Buildings

The Whitewater Common Council met briefly last night, 10.20.20. The agenda for the meeting is available, and a recording of the session appears above. Two different topics are worth noting (for different reasons): autumn leaf collection and a building rehabilitation project. A few remarks —  1. Leaf collection. The city has many homes & apartments, the homes…

Highlight’s from The Verge’s Foxconn Assessment

No failure better reveals the bankruptcy of corporate welfare in the Walker and Trump years than the Foxconn project in Wisconsin: exaggeration upon exaggeration, but nothing productive. This was a failure of judgment so obvious and significant that everyone involved should retire from policymaking. Walker Administration, Trump Administration, the WISGOP, the WEDC, down to Whitewater’s Community…

Accountability Comes Calling at Foxconn

After years of grandiose – ludicrous, truly – claims about Foxconn from Trump to Vos to boosters in Whitewater, Accountability has made her way to Foxconn. If not Accountability personified, then at least Missy Hughes (the new, Evers-appointed leader) of a slightly-reformed WEDC. Josh Dzieza of the national publication The Verge reports Wisconsin denies Foxconn tax…

Whitewater & Walworth County’s Working Poor, 2020 ALICE® Report

The 2020 ALICE® report, on those who are “asset limited, income constrained [yet] employed” is now available.  These latest data were collected before the recent recession – one can be sadly confident that hardship reaches farther now. For Wisconsin, 11% of households were below the poverty level, and 34% (including those below the poverty level) were…

Foxconn’s ‘Innovation’ Centers: Still Empty a Year Later

 Over at the national tech website The Verge, Nilay Patel reminds that a year later, Foxconn has still done nothing with the ‘innovation’ centers that foreign corporation promised it would open around the state. They’re still empty:    See FOXCONN’S BUILDINGS IN WISCONSIN ARE STILL EMPTY, ONE YEAR LATER. In Whitewater, the ‘Greater Whitewater’ Committee…

An Empty-Headed Man’s Next Gig

Updated with a longer – and so more revealing – video of Kushner’s vapidity. When Jared Kushner is finished impairing America’s response to a pandemic, he’ll need something else to do. Wisconsin still has the Wisconsin Economic Development Corporation, and in small Wisconsin towns like Whitewater one finds development hucksters, business leagues of landlords &…

Local Public Policy as if Charitable Assistance

Whitewater’s policymakers, and those of other small, rural cities, should – in these times of economic stagnation, a lingering opioid crisis, failed business welfare, and an approaching recession – view their principal obligation as if it were charitable outreach. (It’s not charity, of course, but that’s how policymakers should view it: as both palliative and…