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Foxconn mostly abandons $10 billion Wisconsin project touted by Trump
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News
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| Contributor | RP |
| Last Edited | RP Apr 21, 2021 11:06am |
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| Category | News |
| News Date | Wednesday, April 21, 2021 10:55:00 AM UTC0:0 |
| Description | Taiwan electronics manufacturer Foxconn is drastically scaling back a planned $10 billion factory in Wisconsin, confirming its retreat from a project that former U.S. President Donald Trump once called “the eighth wonder of the world.”
Under a deal with the state of Wisconsin announced on Tuesday, Foxconn will reduce its planned investment to $672 million from $10 billion and cut the number of new jobs to 1,454 from 13,000.
Wisconsin Governor Tony Evers said the new agreement will save Wisconsin taxpayers “a total of $2.77 billion compared to the previous contract,
The original Wisconsin package also included local tax incentives and road and highway investments by state and local governments, which brought total taxpayer-funded subsidies to more than $4 billion.
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