Foxconn Committed to Wisconsin, Says State Official Amid Reports of Factory Demise
“Ongoing discussions” about Foxconn plans for new manufacturing capacity in Wisconsin (see 1806280053) reflect the company's “continued commitment to the state," said Mark Hogan, CEO of Wisconsin Economic Development Corp. (WEDC). "Foxconn will not qualify for tax credits until, at…
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the earliest, 2020, and then only if the company meets its annual job creation and capital investment requirements.” WEDC's contract specified the company would earn maximum cash incentives only if it hired 13,000 employees averaging more than $53,000 in annual salary. Executives say high costs of manufacturing U.S. advanced large screens could force it to scale back any $10 billion plant there or abandon it. The company didn't comment. Landing the factory was the brainchild of then-Gov. Scott Walker (R), who lost his bid for a third term in November. President Donald Trump at a July 2017 ceremony said the project, under his watch, would mean the return of electronics manufacturing jobs. Display Supply Chain Consultants “heard from equipment companies over the past couple of months to remove this project from our fab schedules,” emailed CEO Ross Young Tuesday of the curtailment.