Foxconn's promise to invest $10 billion in Wisconsin is now a distant memory | Engadget
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Foxconn is selling two buildings in Wisconsin, which have remained mostly empty since they were originally purchased for its plans to bring production to the US..

Foxconn’s promise to invest $10 billion in Wisconsin is now a distant memory | It’s now selling two mostly empty buildings in the state.::Foxconn is selling two buildings in Wisconsin, which have remained mostly empty since they were originally purchased for its plans to bring production to the US…

  • just_change_it@lemmy.worldEnglish
    106·
    1 year ago

    The latest deal between Foxconn and Wisconsin reduces the planned subsidies for the project, which ultimately could have cost taxpayers over $4 billion. Foxconn is now eligible for $80 million in tax credits, down from $2.85 billion. Governor Tony Evers said those credits are in line with those for which any company is eligible. They’re performance-based and will depend on whether Foxconn hits capital investment and employment targets.

    Emphasis above is all mine. This is non-news. They talked about what could have been but the subsidy was based on actual invements being made and people being hired.

    Foxconn created ~1500 jobs (e.g. ~11% of what they targeted) and only got ~2.8% of the subsidy. Didn’t Michigan win?

    • abhibeckert@lemmy.worldEnglish
      121·
      1 year ago

      Didn’t Michigan win?

      “total costs for taxpayers and ratepayers to build the manufacturing campus to $683 million… with more costs likely to come.”

      That doesn’t sound like winning. The state spent a fortune up front on surrounding infrastructure that was needed before Foxconn could start operating, and they never started operating.