MOUNT PLEASANT, Wis. - A new deal is now in place for one of the world`s largest technology companies. Wisconsin`s economic development leader detailed the new Foxconn contract Wednesday, April 21.Foxconn`s original plans for thousands of jobs in Mount Pleasant and, in turn, billions of dollars is tax breaks never materialized.
Work continues at the Mount Pleasant campus but moving forward, the contract for state subsidies is drastically different.
"We are endeavoring to treat Foxconn the same way we treat our other companies that we have partnered with on incentive agreements," said Missy Hughes, secretary and CEO of Wisconsin Economic Development Corporation (WEDC)....
"We are endeavoring to treat Foxconn the same way we treat our other companies that we have partnered with on incentive agreements," said Missy Hughes, secretary and CEO of Wisconsin Economic Development Corporation (WEDC)....
...The new six-year contract now offers $80 million for more than 1,400 jobs, $672 million of investments and 100% credit recovery if defaulted....
...moreKen Notes: Lots of stories on this but bottom line, more in line with other contracts.
I am still worried about local investment, but so far they are paying for this. I also think Foxconn could hit a home run if their electric car or med tech programs take off. The new offer is still 57K per employee and/or more that 10% in property tax credits -- in reality the 80 million will be divided between local and state funding. We need a better way to report on this....
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- - Volume: 9 - WEEK: 17 Date: 4/22/2021 6:41:19 AM -