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Ground News - Foxconn s Wisconsin deal touted by Trump shrinks from 13,000 jobs to 1,454
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Foxconn s Wisconsin deal touted by Trump shrinks from 13,000 jobs to 1,454
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Foxconn s Wisconsin deal touted by Trump shrinks from 13,000 jobs to 1,454
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Foxconn s Wisconsin deal touted by Trump shrinks from 13,000 jobs to 1,454 Reuters 2 hrs ago By David Shepardson and Karen Pierog © Reuters/ANN WANG FILE PHOTO: A poster with a logo of Foxconn is seen at the IEEE Global Communications Conference in Taipei
By David Shepardson and Karen Pierog
WASHINGTON (Reuters) -Taiwanese contract electronics manufacturer Foxconn Technology Co Ltd will dramatically scale back its planned investment in an initially planned $10 billion Wisconsin plant, under an agreement announced with the state on Tuesday.
The investment was first announced to great fanfare at the White House in July 2017, when Donald Trump was president.
Wisconsin will reduce its tax credits authorized for the project from $2.85 billion to $80 million as Foxconn reduces its planned investment from $10 billion to $672 million and cuts the number of jobs planned from 13,000 to 1,454, Wisconsin Governor Tony Evers said in a statement.
Foxconn s Wisconsin deal touted by Trump shrinks from 13,000 jobs to 1,454
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