17 votes

Foxconn and Wisconsin have amended their contract to reflect a $672 million investment, instead of the $10 billion promised in 2017

Posted by Deimos
Tags: usa.wi.mount pleasant, foxconn, manufacturing, local government, factories, contracts, legal, author.josh dzieza, source.the verge
https://www.theverge.com/2021/4/20/22393679/wisconsin-foxconn-contract-amendment-shrink

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Title
Wisconsin amends Foxconn's contract to reflect radically smaller project
Authors
Josh Dzieza
Published
Apr 20 2021
Word count
1152 words

2 comments

  1. joplin
    Link
    Glad to see the state is pulling back on the tax break as well. Running the numbers from the article: 13,000 employees is now 1,454 employees = 11% of original agreement $10 billion investment is...

    Glad to see the state is pulling back on the tax break as well. Running the numbers from the article:

    13,000 employees is now 1,454 employees = 11% of original agreement
    $10 billion investment is now $672 million = 6% of original agreement
    $2.85 billion tax break is now $80 million = 2.8% of original agreement

    Glad to see they're getting even less of what they were promised than the state is, at least!

    11 votes
  2. Deimos
    Link
    This has been a long story that Josh Dzieza has been doing a great job of covering for The Verge for years. Two good previous articles, if anyone wants to read more: October 2020: Inside Foxconn's...

    This has been a long story that Josh Dzieza has been doing a great job of covering for The Verge for years. Two good previous articles, if anyone wants to read more:

    8 votes