An economic impact study produced by a consulting firm for Foxconn offers insight into the electronics manufacturing company's deal with the state of Wisconsin.
Ernst & Young prepared an analysis this month for "Project Flying Eagle," the code name given to the project that is expected to bring a $10 billion manufacturing facility to southeastern Wisconsin, employing up to 13,000 people.
Here are some key elements of the assessment:
- Construction is expected to take place over a four-year period. Total cost is estimated at $10 billion, with $5.7 billion coming from Wisconsin construction work and equipment.
- The 4-year construction period is expected to support 16,205 "construction and related" jobs in the state. About 10,000 of those jobs will come directly from construction work on-site.
- Capital investments are expected to bring in about $500 million in state and local tax revenues, $154 million of which will come from sales tax revenues on construction materials.
- The project would span two facilities, both of which would produce 8K substrate glass — the "highest ultra-high definition resolution available."
- Once fully operational, the plant would employee 13,000 employees.
- The average base salary for employees would be $53,875. With overtime and benefits, employees would earn an average of $73,500 per year.
- Including jobs at the Foxconn factory, the project would support more than 34,000 jobs throughout the state, including suppliers and companies that sell to the plant and to suppliers.
- Four hundred jobs would come from a glass manufacturer that would be "co-located" within the plant.
- The total impact on state economic output would be about $11.11 billion, nearly half of which would be state GDP (gross domestic product).
- The plant's operations — directly and indirectly — would support about $181 million in state and local tax revenues.
Direct employment jobs:
- The majority of employees would be hourly operators and techs, at 9,817.
- Process equipment engineers would account for 1,600 jobs.
- Business support jobs would come in at 820.
- Integration engineers would account for 463 jobs.
- CIM engineers would come in at 300 jobs.
Indirect and induced jobs:
- About 1,300 would come from manufacturing.
- Trade and transportation would account for about 5,000.
- Business services would account for about 4,000.
- Professional and financial services would account for about 4,000.
- Health care and education would account for about 3,000.
- Construction and utilities would account for about 1,000.