Foxconn, Wisconsin reach new deal on tax breaks for scaled-back facility
Foxconn Technology Group has reached a new deal with the state of Wisconsin on a scaled-back manufacturing facility with reduced tax breaks, Gov. Tony Evers announced Monday.
The original contract, struck in 2017 by then-Wisconsin Gov. Scott Walker (R), had nearly $4 billion in state and local tax incentives. It was based on Foxconn’s promise to build a massive $10 billion flat-screen panel manufacturing facility in Mount Pleasant, employing up to 13,000 people in the process.
Former President Trump backed Walker’s proposed deal in 2018, calling the envisioned plant “transformational” and the “eighth wonder of the world.”
But the Taiwan-based company, best known for making Apple products, has scaled back on plans for the proposed site and has missed employment targets that would trigger Wisconsin’s tax credit.
“I’ve said all along that my goal as governor would be to find an agreement that works for Wisconsin taxpayers while providing the support Foxconn needs to be successful here in our state,” Evers said in a press release. “I’m incredibly grateful for all the folks at the WEDC and Foxconn for their help working to find a solution that works for everyone, and I look forward to the amendment being approved by the WEDC Board of Directors.”
Today, I’m announcing we’ve reached a new agreement with Foxconn. Read my full statement here ⬇️ pic.twitter.com/jzpjTBg4bt
— Governor Tony Evers (@GovEvers) April 19, 2021
Foxconn has promised to base their North American headquarters in Milwaukee and open innovation centers around the state.
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