State officials to begin review of Foxconn jobs report

Audited documents will determine whether company receives tax credits agreed to in 2017 contract

Foxconn — and Wisconsin — are another step closer to learning whether the Taiwan-based company will qualify for a portion of the $3 billion in state tax credits that were part of the deal signed three years ago to bring the electronics manufacturer to Racine County.

A formal audit of the company’s 2019 jobs report was released Wednesday, a week after being submitted to the Wisconsin Economic Development Corp. But the audit doesn’t evaluate whether the company has met conditions set in the contract that former Gov. Scott Walker and the state signed with Foxconn in 2017.

That will be decided in the coming months as state officials review the audited report and compare it against the terms of that contract. The review might not be finished until the fall.

Ken Notes: Remember at the time we were not allowed to look at the agreement, so now we will see how carefully it was written. What employees qualify, where must they live, and so many more details. If I can make a prediction - There will be language open to interpretation that will not serve us well...

- - Volume: 8 - WEEK: 30 Date: 7/23/2020 1:05:53 PM -