Foxconn, Wisconsin reach new deal on scaled back project
SCOTT BAUER | Associated Press
MADISON, Wis. – Foxconn Technology Group, the world s largest electronics manufacturer, has reached a new deal with reduced tax breaks for its scaled back project in southeast Wisconsin, Gov. Tony Evers and the the company announced on Monday.
Details of the new deal were not immediately released. It was scheduled to be approved at a Tuesday meeting of the Wisconsin Economic Development Corp., the state s top jobs agency that previously negotiated the initial deal with Foxconn.
The original deal with nearly $4 billion in state and local tax incentives was struck in 2017 by then-Gov. Scott Walker. It was based on Taiwan-based Foxconn s promise to build a massive $10 billion flat screen panel manufacturing facility in Mount Pleasant, near the Illinois border, employing up to 13,000 people. Then-President Donald Trump hailed the project as the “eighth wonder of the world.”
Foxconn, Wisconsin reach scaled back deal
finance-commerce.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finance-commerce.com Daily Mail and Mail on Sunday newspapers.
Evers says Foxconn, Wisconsin on brink of new deal
MADISON - Wisconsin and Foxconn are on the brink of a new agreement over the tech giant s role in the Badger State, which so far has failed to live up to a $3 billion deal struck by Republicans and company officials four years ago.
Gov. Tony Evers announced Monday that his administration and Foxconn officials have reached an agreement on new terms and that the new deal will go before the Wisconsin Economic Development Corp. Board of Directors for approval on Tuesday.
“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 statement.
Scott Walker, Donald Trump and Terry Gou in happier times
Foxconn Technology Group and Wisconsin Gov. Tony Evers announced an agreement today that involves a cut of billions of dollars in tax breaks in exchange for a smaller facility in the southeast part of the state, according to a report.
The deal was slated to be approved tomorrow at a meeting of the Wisconsin Economic Development Corp., according to the Associated Press.
Details of the new deal were not immediately disclosed, the AP report said, but it cited a source that said the potential tax breaks for Foxconn will be cut by billions of dollars and will preserve breaks worth over $10 million.
Scott Bauer
FILE - In this June 28, 2018 photo, President Donald Trump takes a tour of Foxconn with Foxconn chairman Terry Gou, right, and CEO of SoftBank Masayoshi Son in Mt. Pleasant, Wis. Foxconn Technology Group, the world s largest electronics manufacturer, has reached a new deal with reduced tax breaks for its scaled back project in southeast Wisconsin, Gov. Tony Evers and the the company announced on Monday, April 19, 2021. (AP Photo/Evan Vucci, File) April 19, 2021 - 9:01 AM
MADISON, Wis. - Foxconn Technology Group, the world s largest electronics maker, has reached a new deal with reduced tax breaks for its scaled back manufacturing facility in southeast Wisconsin, Gov. Tony Evers and the the company announced on Monday.
vimarsana © 2020. All Rights Reserved.