Foxconn Corporate Welfare Bill Includes $10M Giveaway for Fiserv

August 2, 2017

Shakedown

A bill that would provide $3 billion in state giveaways for Foxconn to locate a manufacturing plant in southeastern Wisconsin also includes millions in tax breaks for a big campaign contributor to Republican Gov. Scott Walker.

The bill, which is expected to be considered by the legislature this month, includes $10 million in tax breaks intended to keep Fiserv, a Brookfield-based company that makes products for banks and credit unions, from relocating its headquarters to another state.

The company is considering sites around Milwaukee, but has not ruled out locating its new headquarters outside Wisconsin. Fiserv is a Fortune 500 company that had $5.5 billion in revenue in 2016 and about 23,000 employees at 120 global offices.

The current proposal in the Foxconn bill calls for the state to give Fiserv $2 million a year for five years if it keeps at least 93 percent of its full-time employees and headquarters in the state.

Between January 2010 and December 2016, Fiserv employees contributed about $15,400 to legislative and statewide candidates, including about $14,800 to Republican candidates.

Topping the list of recipients of Fiserv campaign contributions was Walker, who received about $7,500, followed by GOP Sen. Alberta Darling, of River Hills, who accepted $3,200, and Lt. Gov. Rebecca Kleefisch, who received $2,500.

Campaign finance records show no contributions from Foxconn employees to Wisconsin legislative and statewide candidates through last December.