MADISON - Wisconsin is putting new job requirements on an up to $3 billion subsidy package for a Racine County flat-screen plant and drawing a personal guarantee from one of the world's richest men, under a contract approved Wednesday behind closed doors.

The WEDC board approved the deal, 8-2, after protesters shouted at the agency's directors as they voted to go into a private session. The pair of no votes came from state Sen. Tim Carpenter (D-Milwaukee) and Rep. Dana Wachs (D-Eau Claire), who is running in the Democratic primary for governor.

Gov. Scott Walker and Foxconn's billionaire founder Terry Gou will sign the 29-page contract Friday afternoon at SC Johnson with U.S. Speaker of the House Paul Ryan of Janesville on hand.

Coming after critics pounded an initial deal with Foxconn Technology Group of Taiwan, the state's final contract with the company includes greater requirements for job creation and calls for Foxconn and Gou to stand behind those job requirements to the tune of up to $500 million or more.

Wisconsin Economic Development Corp. head Mark Hogan said the Walker administration had always planned on tougher job requirements and didn't add them in response to criticism. Hogan touted the personal guarantee from Gou as "highly unusual" but declined to say when the state had first asked Gou for it.

"It really speaks to the level of commitment and confidence that he has that this is going to be a great investment not just for him but for the state of Wisconsin," Hogan said of Gou.

After being postponed last month, the WEDC board vote marks the end of a three-month push to pass the largest economic development deal in state history and the largest incentive package ever offered in the United States to a foreign company.

But the project still requires the approval of $764 million in local incentives for Foxconn and years of work on massive land deals and construction.

With Walker running for re-election next year and Wachs and other Democratic candidates for governor opposing the deal, it could play a big role in the 2018 campaign.

For his part, Wachs said he would have preferred to use the money to fund many start-up companies instead.

"It’s just too much for one company in one industry," Wachs said. "I had hoped that this would be a deal that I could support, but it’s just too much money."

But Wachs, a trial attorney, said if elected governor, he wouldn't necessarily walk away from a signed agreement with Foxconn.

"Contracts are serious documents … so we’ve got to take a hard look at it if and when that occurs," Wachs said.

In exchange for the up to $3.8 billion in state and local incentives, Foxconn has promised to invest up to $10 billion to create up to 13,000 jobs at the plant. As a manufacturer in Wisconsin, Foxconn will pay little if any taxes on the profits that factory generates.

The draft contract includes these new provisions:

It requires minimum numbers of jobs for Foxconn to receive up to $2.85 billion in tax credits that state taxpayers would likely pay out in cash. Unlike an early version of the deal, the company would have to meet minimum jobs numbers not only to get tax credits for spending on worker salaries but also to earn tax credits on its capital investment in the plant.

To receive credits, Foxconn would essentially have to hire a sharply escalating number of workers, starting with at least 260 next year and rising to at least 5,200 in 2022 and at least 10,400 by 2027. Foxconn would have to earn credits each year by meeting or beating these targets.

To get the full tax credits and an additional $150 million in sales tax savings, Foxconn would have to spend at least $9 billion on the plant and essentially employ 13,000 workers from 2022 through 2032.

The company would have to pay workers at least $30,000 a year for Foxconn to receive the credits. The average salary of the workers would also have to be $53,900 for Foxconn to receive the tax credits.

Require Foxconn to hire an outside accounting firm chosen by WEDC to verify its spending on the plant and on workers' salaries.

Allow the state to claw back up to 100% of its tax credit awards to Foxconn if the company lies to the state, moves the plant or shuts it down. Starting in 2023, the state could claw back up to $500 million if the company doesn't meet a minimum jobs threshold.

Foxconn's parent company, Hon Hai Precision Industry Co., will be responsible for 75% of clawback payments and Gou, its chairman, will be responsible for 25% through a private company he largely owns.

WEDC officials say they're confident that Hon Hai — one of the world's largest companies — would be on the hook for the potential clawbacks no matter what.

If the project goes well, it could create 22,000 jobs outside the plant at suppliers, restaurants and other businesses in southeastern Wisconsin. But even if it does that, it could still take the state until 2043 to recoup its investment, according to the Legislature's nonpartisan budget office.

On Friday, Hogan bowed to pressure from directors and lawmakers who said the agency board should get a copy of the proposed contract with the Taiwanese company before voting on it.

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Foxconn has already taken space in a large industrial building in Racine County, signing a lease for 13315 Globe Drive in Mount Pleasant. That is the site of a 156,000-square-foot building recently developed by Opus Group just east of I-94 and south of Highway 20 in the Mount Pleasant Business Park.

Foxconn also has posted more than 25 Racine County positions on job site Indeed.com.

Rick Romell of the Journal Sentinel staff contributed to this report from Milwaukee.