Wisconsin tells Foxconn no tax credits without new deal
MADISON, Wis. (AP) — Wisconsin has told Foxconn Technology Group that it won’t qualify for billions of dollars in state tax credits unless it strikes a new deal for a scaled-back factory complex.
State officials have told Taiwan-based Foxconn since last year that it wouldn’t qualify for the tax credits without revisions to its 2017 contract given that the scope of the envisioned factory has been reduced.
President Donald Trump heralded the original deal as a sign of a revitalized American manufacturing economy.
The letter sent Monday from the state to Foxconn says its new factory can’t get state tax credits unless the original contract is changed.