Foxconn Not Expected to Receive Tax Credits for the Next Three Fiscal Years

Friday, December 4th, 2020 -- 9:01 AM

(AP) -State officials say Foxconn Technology Group is not expected to receive tax credits in the next three fiscal years, continuing its failure to meet goals for hiring and investing in its Wisconsin manufacturing complex.

The Department of Administration’s projection came in its budget request for the fiscal years 2022 and 2023.  Administrators say the Wisconsin Economic Development Corp. doesn’t expect Foxconn to comply with the state agreement that provides up to $2.8 billion in tax credits.

In 2017, Foxconn said it would invest up to $10 billion in a Racine County plant that could generate 13,000 jobs and make large LCD screens.

Feel free to contact us with questions and/or comments.