Foxconn strikes new incentives deal with Evers administration - Milwaukee Business Journal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.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.
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MADISON â Foxconn wonât be getting $2.8 billion in state tax credits anymore.
After more than a year of negotiations, the State of Wisconsin and Foxconn Technology Group officials say theyâve reached a new agreement regarding the Taiwan-based companyâs manufacturing plant near Racine that would provide Foxconn fewer state tax credits than originally agreed upon.
The embattled Foxconn project in southeastern Wisconsin has faced considerable scrutiny over the last three years for failing to meet expectations laid out in its originally 2017 agreement. State officials told the company more than a year ago it would not be eligible for tax credits under the existing contract â since the company is no longer planning a Generation 10.5 facility to make larger LCD screens as originally promised â and a new agreement would be necessary.
State, Foxconn say new deal reached for southeast Wisconsin manufacturing plant with fewer tax credits journaltimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from journaltimes.com Daily Mail and Mail on Sunday newspapers.