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Wisconsin

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TexasTowelie

(121,748 posts)
Mon Dec 7, 2020, 04:56 AM Dec 2020

Foxconn not expected to meet hiring goals in next 3 years [View all]

MADISON, Wis. (AP) — Foxconn Technology Group is not expected to receive tax credits in the next three fiscal years, continuing its failure to meet goals for hiring and investing in its Wisconsin manufacturing complex, according to state officials.

The Department of Administration’s projection came in its budget request for the fiscal years 2022 and 2023. Administrators say the Wisconsin Economic Development Corp. doesn’t expect Foxconn to comply with the state agreement that provides up to $2.8 billion in tax credits, the Milwaukee Journal Sentinel reported.

In 2017, Foxconn said it would invest up to $10 billion in a Racine County plant that could generate 13,000 jobs and make large LCD screens.

Since then, Foxconn has scaled back its plans to a Gen 6 plant that would make screens for TV’s, smart phones and tablets.

Read more: https://dailyreporter.com/2020/12/03/foxconn-not-expect-to-meet-hiring-goals-in-next-3-years/
(Milwaukee Daily Reporter)

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