Foxconn deal with Wisconsin lowers tax breaks to $80 million
April 21, 2021 5:00AM CDT
MADISON, Wis. (AP) — Foxconn Technology Group will qualify for up to $80 million in state tax incentives under a new contract that downsizes the scale of credits as the size of the envisioned manufacturing facility has also shrunk.
Gov. Tony Evers on Tuesday announced details of the new contract. Under the original deal, signed in 2017, Foxconn would have qualified for $2.85 billion in state tax credits if it invested $10 billion and created 13,000 jobs.
Under the new deal, Foxconn will qualify for $80 million if it employs 1,454 people and invests $676 million by 2026.