Foxconn's giant factory in Wisconsin sounded too good to be true. Turns out it was - Printable Version +- Ipoh Community Forums (https://forums.ipoh.com.my) +-- Forum: News and Current Affairs (https://forums.ipoh.com.my/forum-11.html) +--- Forum: International News (https://forums.ipoh.com.my/forum-13.html) +---- Forum: Business, Economy and Investment (https://forums.ipoh.com.my/forum-56.html) +---- Thread: Foxconn's giant factory in Wisconsin sounded too good to be true. Turns out it was (/thread-1394.html)

Foxconn's giant factory in Wisconsin sounded too good to be true. Turns out it was - superadmin - 04-23-2021 New York (CNN Business)When first announced in 2017, Foxconn's plan to build a massive electronics factory in Wisconsin was hailed by then-President Donald Trump as a sign of the rebirth of American manufacturing. But nearly four years later, the complex that promised to create a Silicon Valley in the industrial Midwest is essentially a white elephant, a collection of mostly empty buildings without any high-tech products to build. And this week it became official: The pledged investment of up to $10 billion to create as many as 13,000 jobs is not coming. The Wisconsin Economic Development Corp. and the Taiwanese electronics maker signed a revised incentive deal outlining a $672 million investment from Foxconn that will create fewer than 1,500 jobs. The incentives package now totals only $80 million, less than 3% of the nearly $3 billion in tax breaks and other perks the state originally promised. "When I ran to be governor, I made a promise to work with Foxconn to cut a better deal for our state," Gov. Tony Evers said on Tuesday. "The last deal didn't work for Wisconsin, and that doesn't work for me." Evers, a Democrat, made opposition to the lucrative package one of the main issues of the 2018 campaign in which he defeated incumbent Gov. Scott Walker, a Republican and ally of President Trump. - More -