I think that people are forgetting that this a subsidy to build. The state is not "giving" Foxconn money, it's just choosing not to collect taxes/permit fees/construction costs, for them to put in the factory. Once the factory is built, there is nothing stopping the state from modifying their corporate tax laws to recoup this investment much faster.
Also your last statement is just preposterous notion. Governor Walker is not personally gaining anything financial from this deal. It was a desperate bid to push his re-election campaign. Personally I think that the deal has soured so much that it should be cancelled, but the original $3 billion for jobs sounded very sound. Especially for a very economically repressed location like Racine.