Wisconsin’s Republican-controlled state Assembly voted 59-30 on Thursday to approve a bill that paves the way for a $3 billion incentives package for a proposed liquid-crystal display plant by Taiwan’s Foxconn (FXCNY, -5.28%) .
The plan still needs to be approved by the joint finance committee, which has members from both the Assembly and the state Senate, as well as the Senate before it can go to the governor. The finance committee and Senate are also controlled by Republicans.
Foxconn, an electronics manufacturer formally known as Hon Hai Precision Industry Co. (HNHPF, -1.14%), hopes to open a $10 billion plant in 2020 at a 1,000-acre site in southeastern Wisconsin.
