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Foxconn scaling back $10B Wisconsin factory contracted during Trump administration

Taiwanese electronics manufacturer Foxconn is massively scaling down a planned $10 billion factory in Wisconsin, walking back projects that were planned during the Trump administration, CNBC reported.

The original deal was struck in 2017 by then Wisconsin Gov. Scott Walker (R). Former President TrumpDonald TrumpProject Veritas surveilled government officials to expose anti-Trump sentiments: report Cheney: Fox News has 'a particular obligation' to refute election fraud claims The Memo: What now for anti-Trump Republicans? MORE called the proposed plant “transformational” and the “eighth wonder of the world” in 2018. 

The planned $10 billion Mount Pleasant project will now be scaled back to a $672 million project and the number of jobs from the proposal will be cut from 13,000 to 1,454. 

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In a press release sent out Tuesday, Wisconsin Gov. Tony EversTony EversWisconsin Gov. rips Sidney Powell's lawsuit filled with factual errors in court filing Wisconsin passes law requiring schools teach students about Holocaust and other genocides First lady announces virtual guests for Biden's address to Congress MORE (D) said that the new agreement would save the state’s taxpayers a total of $2.77 billion compared to the previous contract. 

“When I ran to be governor, I made a promise to work with Foxconn to cut a better deal for our state—the last deal didn’t work for Wisconsin, and that doesn’t work for me,” Gov. Evers said in the statement. “Today I’m delivering on that promise with an agreement that treats Foxconn like any other business and will save taxpayers $2.77 billion, protect the hundreds of millions of dollars in infrastructure investments the state and local communities have already made, and ensure there’s accountability for creating the jobs promised.”

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Foxconn, which is known for making Apple products, said in the CNBC report that the new agreement will give them more “flexibility to pursue business opportunities in response to changing global market conditions.”

Wisconsin will reduce the tax credits authorized for the project from $2.85 billion to $80 million. 

Foxconn has promised to base their North American headquarters in Milwaukee and open innovation centers around the state.