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Taiwan’s Foxconn qualifies for nearly $30 million tax breaks in Wisconsin -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Construction on Foxconn’s manufacturing plant in Mt. Pleasant, Wisconsin. August 19, 2020. REUTERS/Brian Snyder/File Photo

Foxconn qualifies for $28.8M in Wisconsin tax credits. Foxconn is Taiwan’s electronics manufacturer best-known for creating Apple iPhones.

The world’s largest contract manufacturer of electronic devices has been working on a 20-million-square-foot manufacturing campus in Wisconsin, in which it will invest $10 billion over four years, to build electric vehicles.

Foxconn created 579 new jobs in Wisconsin over the last year and invested $266million in the area, Robin Vos, state assembly speaker, said in a statement. This investment totalled nearly $1 billion for Wisconsin.

Vos explained that “with the current workplace environment, it is vital we highlight and concentrate on businesses that are interested in Wisconsin’s economies.”

This project was announced for the first time in 2017. It was previously called “the eighth wonder of all the world” by Donald Trump, former U.S. president.

In April, the company stated that it was cutting its investment plans and reducing the number of jobs. It cited market volatility and changes in global markets.

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