Headline: Daily Chronicle, 9/2/2023
Plenty of Illinois politicians tried to land Foxconn, which means they get no credit for dodging this bullet, and few contemporary detractors had a failure of this scale anywhere on their bingo card. But the debacle nonetheless serves as a cautionary tale. When private businesses come looking for public money, whether it be a corporate relocation from elsewhere in America, a foreign entity looking to make a North American splash or even your favorite pro sports franchise, skepticism is more than warranted.
No matter which politicians are smiling at the next ceremony celebrating some major economic development “win,” be sure to remember the initial excitement always fades, especially so when promised jobs don’t materialize and local governments are left with gaping budget holes. [emphasis added]
Other Foxconn and Foxconn/Lordstown posts:
2023
September
August
Lordstown Motors cautionary tale. (8/10)
July
More bad karma for Lordstown Motors. (7/25)
Take the money and run. (7/18)
June
May
January
2022
2021
GET ME REWRITE: Yes, Foxconn's $100 milion pledge to UW-Madison was nothing more than a cynical election ploy by Scott Walker. (8/11)
The mysteries of Foxconn (season 2). (5/12)
2020
GET ME REWRITE: Two gullible guys from Racine County still believe anything Foxconn tells them. (10/23)
Keeping tabs on Foxconn Place in
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