Taiwan-based electronics manufacturer Foxconn Technology Group has negotiated a new deal with Gov. Tony Evers for a scaled-back manufacturing facility in exchange for reduced tax breaks, according to a report from the Associated Press. The Wisconsin Economic Development Corp. is set to review and approve the agreement pertaining to the company’s project in Mount Pleasant, Wisconsin. The new agreement reduces the potential tax breaks by billions of dollars. The original $4 billion tax incentive contract was created in 2017 by former Gov. Scott Walker and was based on Foxconn’s promise to build a $10 billion flat-screen panel manufacturing facility in Mount Pleasant and employ up to 13,000 people.
After the original agreement was signed, Foxconn said it was downsizing the factory and would make smaller thin-film transistor liquid crystal display screens rather than the larger screens that were first proposed. Last month, Foxconn’s chairman said the company was now considering making electric vehicles at the facility. The changing plans prompted Gov. Tony Evers to call for a renegotiated contract. Details of the new agreement have not been released.
