Wisconsin: New State Deal With Foxconn Shrinks Tax Breaks From Billions To $80M

[Eugene]

Source: Wisconsin Public Radio

New State Deal With Foxconn Shrinks Tax Breaks From Billions To $80M

Revised Agreement With Tech Giant Requires Thousands Fewer Jobs Created In Wisconsin

By Corrinne Hess
Published: Tuesday, April 20, 2021, 3:55pm

Wisconsin's revised contract with Foxconn would give the company $80 million in tax breaks in exchange for 1,445 jobs by 2024.

This number is significantly lower than the $2.85 billion contract in exchange for 13,000 jobs that was struck by state officials and the Taiwanese tech company in 2017. Since that time, there has been little activity and fewer than 1,000 people hired by Foxconn in the state.

Foxconn is projecting its Wisconsin workers will earn an average wage of $53,875 and the company will invest $672 million in Wisconsin by 2026.

Gov. Tony Evers said both sides believe this deal is more realistic.

"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," Evers said in a written statement.

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Read more: https://www.wpr.org/new-state-deal-foxconn-shrinks-tax-breaks-billions-80m

[LakeArenal]

1. I can't believe it. It's a scam.

[dragonlady]

2. At least it's better than what Scott Walker got us into

[LakeArenal]

3. Well this isn't any of Evers doing. Scott Walkerism.