Records show Foxconn, Wisconsin nearing agreement

MADISON, Wis. (AP) — Foxconn Technology Group has told Wisconsin state officials that it is willing to accept a reduction in state tax credits “in exchange for a flexible business environment in Wisconsin.”

Records obtained Friday by the Wisconsin State Journal and Milwaukee Journal Sentinel show that the two sides are close to reaching a new deal.

The Wisconsin Economic Development Corporation this fall determined Foxconn was not eligible for tax credits in 2020 for hiring and investments made in 2019.

The state has been pushing Foxconn to amend the contract to reflect that the company’s construction of a smaller facility than the original contract envisioned.