Wisconsin Foxconn plant hailed by Trump hasn’t hired enough people to get tax credits
A Wisconsin factory hailed by President Donald Trump as proof he was reviving U.S. manufacturing did not create enough jobs in 2019 to earn its owner Foxconn Technology Group tax credits, the state said on Monday, the second year it has missed its targets.

In a letter to the Taiwan-based company’s Vice Chairman Jay Lee, Wisconsin’s economic development agency said Foxconn was a long way away from building the large TV screens it had proposed in 2017, when it promised to eventually create 13,000 jobs in the state.

Key Points
  • In a letter to the Taiwan-based company’s Vice Chairman Jay Lee, Wisconsin’s economic development agency said Foxconn was a long way away from building the large TV screens it had proposed in 2017, when it promised to eventually create 13,000 jobs in the state.

  • The Apple Inc supplier’s plans for the Mount Pleasant factory are now unclear, the letter from The Wisconsin Economic Development Corporation (WEDC) said.

  • The planned $10 billion, 20-million-square-foot campus was hailed by the White House as the largest investment for a brand new location by a foreign-based company in U.S. history.
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Ken Notes: When a 65 inch TV was available yesterday for under $300 dollars, it is clear the original plans for Foxconn were not economically feasible. Now we need to work with a new vision for the space and I hope we can keep Foxconn in the mix. We have spent a lot on infrastructure and land acquisition and the pandemic and policy may serve as an exit strategy for Foxconn. They are in the dirt so lets see what they can do going forward. Medical imaging seems viable as does manufacturing automation. Finally there are lots of articles in the national spotlight on this, we need to use the attention to suggest that Wisconsin is still willing to work with businesses looking to grow in the state...



- - Volume: 8 - WEEK: 42 Date: 10/15/2020 7:46:31 AM -