Wisconsin, Foxconn Reach New Tax Breaks Deal for Scaled Back Mt. Pleasant Manufacturing Facility | Columbus Ohio Dump Trucks
Gov. Tony Evers says new deal works for much-maligned, flat screen production facility
Foxconn Technology Group, the world's largest electronics manufacturer, reached a new deal with reduced tax breaks for its scaled-back manufacturing facility in Mt. Pleasant, Wis., Gov. Tony Evers (D) and Foxconn announced April 19.
Evers with Foxconn Technology Group Board Member and Vice Chairman Jay Lee, announced they reached the new agreement and a resolution that has bene submitted for approval to the Wisconsin Economic Development Corporation (WEDC). Foxconn has not met hiring targets for tax breaks under the previous deal with WEDC under the administration of then-Governor Scott Walker (R) in 2017. The Charlotte NC dump trucks company employed 281 people in 2019 in Wisconsin, according to WEDC.
The WEDC Board will review the amended tax breaks award before voting on the new deal April 19. The terms of the new deal were not disclosed, but the Associated Press has reported it's far lower than the $4 billion in potential state and local tax incentives in the previous deal and closer to $10 million for the company.
“I’ve said all along that my goal as governor would be to find an agreement that works for Wisconsin taxpayers while providing the support Foxconn needs to be successful here in our state,” Evers said in a statement. “I’m incredibly grateful for all the folks at the WEDC and Foxconn for their help working to find a solution that works for everyone, and I look forward to the amendment being approved by the WEDC Board of Directors.”
While contractor Gilbane/Exyte completed the 1-million-sq-ft campus' manufacturing facility on time in 2020, the main production building has never produced the flat screens for televisions that Foxconn originally said it would produce, and during the design phase the Taiwan-based manufacturer shifted its focus to production of flat screens for cellular phones. Foxconn blamed the economic situation before and during the pandemic for the many changes in mission. Plans to produce everything from servers to electric cars have been floated.
“In response to unforeseeable economic conditions, Foxconn began formal negotiations with a desire to lower taxpayer liability in exchange for the flexibility to pursue business opportunities the meet market demand,” said Lee. “We are grateful to Governor Evers, Missy Hughes (secretary and CEO of WEDC), and our team at Foxconn for finding a solution that can go before and be approved by the WEDC Board of Directors.”